How low will COE go?

[Turbonetics]

your statement is not fair la ...

if govt did not implement 140-180% arf and 50% downpayment & max 5 years loan

coe to break $100k is like 99.9% in view tnat quota is getting lesser and lesser

last time many itchy backside 3 years change car liao but high coe makes people drive their car longer

now with the new ruling, let's see coe is $50k $40k or $10k ... huat ah!

 

 

previously when COE went shooting up,many people were saying "wah,Singapore got so many rich people still buying cars at such COE prices" or some said "COE prices were driven up by those rich people".

now this is the real challenge to test water how many rich people there are in Singapore.

nothing is absolute until we see the exact statistics.

[Donut]

only disadvantage is every year got 1 month they might visit you to complain about your services.......

 

You are Damm funny....

[Turbonetics]

if you are rich, are you willing to pay additional $250k-$300k 140-180% ARF?

 

a $1.25M felali becomes $1.5M and requires $750K downpayment ... hehehe ... throttle also no likes

 

 

yes or not depend on individual.

some goes for lower end ones like Porsche or Maserati and some will just go ahead and buy(afterall if they really want to buy it,they still have to pay the additional ARF be it buying now or in future)

rewind back to the days when COE was implemented.

i believe same question should still arise.

and the topic should be even hotter than this,but life still goes on.

 

[Camrysfa]

 

some signs that the budget measures have downward impact.....

 

komoco - $10,000 off ( but too little lah )

Borneo Motors - think no change, still clinging on to 78K COE level.

Honda - savings of upto $42K ( but not clear true or not )

Cruze 1.6 ( advertised as $89K ..... think it was defintely above 110K before budget )

Merz - prices stay put?

Used cars - dealers dangling upto $20K saving...if true quite good.

[Chucky2007]

Another fool wanting to buy brand new BMW when still wet behind the ears from his housemanship.

 

kNN $6k per mth want to buy $200k car? I pwui!

Got people 3.5k bought 200k car Liao..

[Chucky2007]

Yup. Whoever has booked a new car, especially those who can afford the DP, really bang balls....minimum lose at least a Rolex for nothing.

Losing a PP more likely... If rolex then it's a solid gold rolex...

 

I got a friend went to book one 200+k mpv in dec, although I advised to get a 5-6 year old mpv at around 50-70k currently bec Coe already 90k, no much upside risk.. And may drop, never know. He went ahead with the new car, disk out 60k for dp, and taking 140k.

 

He should have wait.

[Throttle2]

Got people 3.5k bought 200k car Liao..

 

Dont tell me, i will never buy a Veyron.

[Throttle2]

Losing a PP more likely... If rolex then it's a solid gold rolex...

 

I got a friend went to book one 200+k mpv in dec, although I advised to get a 5-6 year old mpv at around 50-70k currently bec Coe already 90k, no much upside risk.. And may drop, never know. He went ahead with the new car, disk out 60k for dp, and taking 140k.

 

He should have wait.

 

Yup solid gold Rolex.

 

I mostly wear Solid gold Rolexes so when i say Rolex, i meant solid gold.

Sorry didnt explain, ,

 

 

 

 

Ps dont flame me hor...

 

[Throttle2]

if you are rich, are you willing to pay additional $250k-$300k 140-180% ARF?

 

a $1.25M felali becomes $1.5M and requires $750K downpayment ... hehehe ... throttle also no likes

 

I dont fancy Ferraris.

And i wont buy new ever again becos i change cars almost every year.

So this will not be my consideration at all.

Moreover, i cant afford one .

 

[Throttle2]

if COE below 30k is tat means many will scrap their <2 YO car?

 

Wrong they cant even scrap it becos they are married to the long term loan.

 

If scrap, they will all be indebted still.

 

So you want to be indebted and still have car or just indebted?

Tough decision eh?

Both ways , SCREWED. Unless you have cash sitting pretty by the sidelines.

 

This is to teach people, dont slap their faces swollen to look fat.

Edited March 2, 2013 by Throttle2

[Turbonetics]

some signs that the budget measures have downward impact.....

 

komoco - $10,000 off ( but too little lah )

Borneo Motors - think no change, still clinging on to 78K COE level.

Honda - savings of upto $42K ( but not clear true or not )

Cruze 1.6 ( advertised as $89K ..... think it was defintely above 110K before budget )

Merz - prices stay put?

Used cars - dealers dangling upto $20K saving...if true quite good.

 

 

i guess the hardest hit will be new car dealers.

and for used car prices,i believe it should depend widely on the COE biddings and secondly how new car prices are priced at.

i had seen many used car dealers started lower their prices,i guess probably to attract crowd to their showroom or they are too kan jiong and expect a sharp fall in the coming COE biddings.

my previous car was still stuck at one of the showroom and now they have lower the price to very close my trade in value.

[Maseratigood]

Agree

[Turbonetics]

Wrong they cant even scrap it becos they are married to the long term loan.

 

If scrap, they will all be indebted still.

 

So you want to be indebted and still have car or just indebted?

Tough decision eh?

Both ways , SCREWED. Unless you have cash sitting pretty by the sidelines.

 

This is to teach people, dont slap their faces swollen to look fat.

 

 

are you stereotyping on drivers that it has to be 0% DP and full loan tenure?

if those who were paying higher cash with low loan tenure or full cash,and COE really drop to $30k.

probably they still can scrap and change car with spare change(again this depend on how dealers will price the car when COE drop to $30k)..

Edited March 2, 2013 by Turbonetics

[Rubbishman]

ya, i also wanna know,

what does renew COE early means?

 

 

That means if your current car has a COE that is going to expire, say in 3 years and you renew your COE now, you get to drive for another 10 years. But you will lose all your PARF value.

 

You can keep renew every 10 years as you like. COE is renewed at the PQP, which is the average of the COE for the past 3 months. So a $2 COE dun make much difference due to the still super high COE in recent months, unless the $2 COE maintain for the next 2 months. Should you renew your COE for 5 years, you pay 50% PQP but which means, you can never renew again at the end of the five years.

 

I heard from friends working in banks that commercial vehicles now can renew COE for 5 years, after which they can still renew again.

[Rubbishman]

Not likely to drop to $10,000 this round due to many unfulfilled bookings from those desperate 100% loan buyers.

 

 

And I heard that as long as the sales agreement is backdated to before the new MAS measures, banks will still dispersed the 100% loan.

[Maseratigood]

The only thing which controls car population is the number of COEs released each year. So your first line is wrong. After the COE quota for the year has been decided, whether the COE price is $1 or $100,000, the same number of new cars will be registered in that year. This is the basic concept of how the system works.

Correct

[Maseratigood]

1997 la. lol

A well maintained, with good availability of parts, COE car is value for money

[Leepee]

Backdated of course can....but I suppose by this weekends...it will be hard to keep backdating anymore.

 

And I heard that as long as the sales agreement is backdated to before the new MAS measures, banks will still dispersed the 100% loan.