How low will COE go?

[Voodooman]

So bottomline... Will dealer cut loss scrap cars recover some capital cost? If at some point they will, then assume each dealer scrap 20 cars.. Think SG has around 200 dealers at least? Them another 4000 Coe could be release into new Coe pool? Does it work that way? Just curious

 

If they sell scrap plus 5k, I will be queuing up to buy those 09/10, so it probably won't happen, unless COE goes to 1 dollar.

 

[Throttle2]

So bottomline... Will dealer cut loss scrap cars recover some capital cost? If at some point they will, then assume each dealer scrap 20 cars.. Think SG has around 200 dealers at least? Them another 4000 Coe could be release into new Coe pool? Does it work that way? Just curious

 

If we dont buy, they will be forced to scrap.....

 

Yes that means CoE released and will be even cheaper.

The problem is we have a lot of gian png people who will buy.

But many of them already kena wiped out by the DP ruling.

So .....?

 

Dealers, sorry lah, this time you swollen cheng cheng .

Better let go as fast as much as possible.

 

 

[Throttle2]

If they sell scrap plus 5k, I will be queuing up to buy those 09/10, so it probably won't happen, unless COE goes to 1 dollar.

 

Will not be scrap + $5k but paper + body.

But you still have to DP half.

Make sure you ready your cash.....

 

[Camrysfa]

These group of owners will suffer huge loss.

Scrap yr 2

Part 75% = 12k

Coe rebate = 64k

Total cash back if scrap = 76k

 

Export car body say 30k for a jdm

 

Buyer lose 40k over 2 yrs!!! Not including his car loan charges for early settlement n penalties.

buyer will not scrap.. As It is negative liability ...

 

Welcome to the harsh fact...

 

 

$30K in SGD for body looks high.....maybe S$8k, considering all other countries buying a car is just $15K in their currency.

So, even if COE nose-dive from $80k to $30k, most existing owners cannot trade-in their cars to change.

[Voodooman]

Will not be scrap + $5k but paper + body.

But you still have to DP half.

Make sure you ready your cash.....

 

 

Yes, I one of the gian png people waiting to buy another pre-loved car at paper plus body and, to be generous, a 5k cash premium. I usually buy cash as car loan is expensive but I cheapo, I buy mass market car.

Edited March 2, 2013 by Voodooman

[Dark]

Just wonder, those who book a car before budget & MAS announcement, I know the new loan restrictions won't apply to them but what about ARF? Old or new ARF?

 

If new ARF, then cat B will be more affected than cat A and we might see cat B lower than cat A for the next few biddings? Or the buyers will be asked to top up additional ARF?

[Throttle2]

Yes, I one of the gian png people waiting to buy another pre-loved car at paper plus body and, to be generous, a 5k cash premium. I usually buy cash as car loan is expensive but I cheapo, I buy mass market car.

 

Excellent strategy.

You know what?

Thats my strategy too 15yrs ago, when it was possible

[Camrysfa]

Just wonder, those who book a car before budget & MAS announcement, I know the new loan restrictions won't apply to them but what about ARF? Old or new ARF?

 

If new ARF, then cat B will be more affected than cat A and we might see cat B lower than cat A for the next few biddings? Or the buyers will be asked to top up additional ARF?

 

 

New ARF rule is just a small issue for most cars.

Some Cat A cars....no change at all.

For the average Joe, most Cat B cars just difference of 1k to maybe 8k.

 

Of cousre those high value cars, the increase can be 30K.

 

 

 

 

[Leepee]

Still old 100%ARF provided using the earlier secured COE before the announcement.

Which is why those CAT.E speculators HUAT big big. They are selling their CAT.E COE at reported $20,000 above paper value!

Today's business times paper even reported BENTLY agent is asking its UK supplier to urgently source and delivery as many BENTLY cars to Singapore before May( because the Cat.E validity is 3months ).

Seems like many richie rich car buyers are very smart to buythese high OMV superstars with the Cat.E COE!!

 

 

Just wonder, those who book a car before budget & MAS announcement, I know the new loan restrictions won't apply to them but what about ARF? Old or new ARF?

 

If new ARF, then cat B will be more affected than cat A and we might see cat B lower than cat A for the next few biddings? Or the buyers will be asked to top up additional ARF?

 

[Throttle2]

New ARF rule is just a small issue for most cars.

Some Cat A cars....no change at all.

For the average Joe, most Cat B cars just difference of 1k to maybe 8k.

 

Of cousre those high value cars, the increase can be 30K.

 

 

For high value cars, increase is way more than a measly $30k

[Carnut]

Haha, after all that have been said and written, things will go back to square one. When there is a will there's a way. Hoping for a price crash in new cars in little red dot? Dreaming might get you there.

[Dark]

New ARF rule is just a small issue for most cars.

Some Cat A cars....no change at all.

For the average Joe, most Cat B cars just difference of 1k to maybe 8k.

 

Of cousre those high value cars, the increase can be 30K.

 

That's why I sat cat B more affected especially high-end cars. If they need to pay more ARF when registering their car, does it mean dealer will have less room to bid for their COE since they already booked at a fix price?

[Angcheek]

Haha, after all that have been said and written, things will go back to square one. When there is a will there's a way. Hoping for a price crash in new cars in little red dot? Dreaming might get you there.

Unless market crashes

[Dark]

Still old 100%ARF provided using the earlier secured COE before the announcement.

Which is why those CAT.E speculators HUAT big big. They are selling their CAT.E COE at reported $20,000 above paper value!

Today's business times paper even reported BENTLY agent is asking its UK supplier to urgently source and delivery as many BENTLY cars to Singapore before May( because the Cat.E validity is 3months ).

Seems like many richie rich car buyers are very smart to buythese high OMV superstars with the Cat.E COE!!

 

How is this possible when they need to pay a lot more ARF? Unless those who book before budget announcement need not pay revised ARF?

[Leepee]

You are confused with the 50% loan matter. Which comes into effect on Monday.

 

The ARF matter only comes into effect When the car is registered with a COE bidded in this coming round.

 

All COEs securred Before March will still be the 100%ARF calculation.

 

So in theory, those luckyy Cat.B buyers who already got their COE, but has not use it to register a car, may want to register for a higher OMV cars(if the AD allow them to do it or break contract and go buy other brands) to enjoy the 100%ARF to the max!!

 

 

 

How is this possible when they need to pay a lot more ARF? Unless those who book before budget announcement need not pay revised ARF?

 

[Angcheek]

Mainly the super cars. Changing higher end car is also costly. And yhe coe they got in hand shld be at 90k range.

Edited March 2, 2013 by Angcheek

[Yeshe]

on condition he/she/it behaves....and once the condition is not met, sayonara for good.....shd be soon la

 

wah... u pang chan ah? [laugh]

[Adrianlim13]

hmm...

 

let say a conti car cost 200k omv 40k coe 90k end of 2 years,

 

coe rebate - 72k , omv - 30k (75% issit) body say 25k = 127k (loss- 200-127 = 73k)

 

so lets say coe crash from 90k to 10k,20k (drop of 70k)

 

wouldn't the replacement car net off ? hence my thinking is no difference .

 

 

However, if COE drops slightly from 90k to 60k-70k ... then not much difference but then again new ARF tax will again net it off.

 

i am no expert.. just thinking about the whole system .