How low will COE go?

[Kangadrool]

give more overtrade to get 50%-60% loan? lolz

 

Overtrade, "balloon" scheme, "helicopter" scheme and maybe now, "space shuttle" financing scheme.

[Benarsenal]

I want to see how many "cash rich" people there are. I don't believe they are the majority of car buyers.

[Yeshe]

Actually, 40-50% DP is sup sup water lah. ok I haolian.... hahaha

 

knn, wat 40 or 50%? simi si loan? cash all in lah [laugh]

[Porker]

I have one friend here who's cash rich. He likes to eat red bean bun with tea in Tokyo

[13177]

then buy 50k car lor

Even buy 50K car also need to downpayment about 30K cash le!

[Longg8]

You are thinking exactly what i am thinking!

 

everybody think like that, then it wont happen... haha..

[Yeshe]

Now I wanna take 100% loan for an M6 also cannot liao. Man life sucks

 

knn, later throttle suan u then u know [laugh]

[Wt_know]

the next 1-2 coe bidding will show true color ...

let's see bmw/merc/audi/vw entry level car buyer can fork out $80k-$100k cash

 

I want to see how many "cash rich" people there are. I don't believe they are the majority of car buyers.

Edited February 25, 2013 by Wt_know

[Jj5599]

What about second hand car financing? Subject to this new rule?

[Porker]

knn, later throttle suan u then u know

 

Suan me cannot qualify for the loan

[Vhtfhwlego]

Coe drops to $20k, I should have no problems to buy my latest dream car GT86.

Omv $30k, arf $24k, Coe $20k = $74k.

Dealers mark up $15k = $89k.

 

D/p $50K, balance $49k / 5 years = monthly $1k.

 

Much better then $220k / 10 years.

[Kelfinity]

I want to see how many "cash rich" people there are. I don't believe they are the majority of car buyers.

 

If we apply the same outcome to properties post measures here, COE will not crash unless the target group is in reality different.

[PengYou]

I say this policy is fierce, but good, unfortunately it does not warrants a perfect rating as it will still benefit mid to high income group.

 

I guess no-where in the world will have a policy that benefits all levels in terms of car ownership.. especially the lower income group. Maybe thailand??

 

Lets wait and see for the next 2 bidding on the effects.

 

I believe this is the good work of pretty minister teo , not that of lousy uncle Liu..

[macrosszero]

Since when was it a God-given right for the lower-income to own cars?

 

Its not as if there wasn't public transport even if it is not perfect, it is an alternative.

 

I said before and I will say it again, no matter what system you have, or how you tweak it, the truly rich will not be affected. This is free market and this is means-based possession.

 

What it does is to take the wannabes out of the picture. Makes them save up for their cars, but well, they would have spent it on servicing their loans in other things, like home renovation, installment payments for furniture, tour packages or something else.

 

Yes, I applaud, but its because I have spent within my means, have the cash on hand to spend, and resisted the urge to chase the COE train that was rapidly leaving the station.

[Zxcvb]

So where are the statistics of car owners taking how much loan and for how long for the past 5-10 years?? I'm sure MAS come to this new ruling after taking consideration of the past statistics. Anyone??

[Alheych]

This type is LPPL system leh.... high COE.... only lich people can afford..... now change to 50% cash upfront..... and COE crash.... also lich people can afford... diff is, the lich people now laughing cause they spend lesser to get the car.... end result, still same... only this time the lich people happier..... WTF.... scrap and ban cars... all ride bicycle.... ..... confirm no financial burden......

 

now gahmen can say, "don't say we never help you, now prices drop alr, you still cannot afford, then you shouldn't be driving"

 

to a certain extent it is true. if one needs to max out 10 years loan, one probably shouldn't have car ownership as a priority.

[Mllcg]

COE will definately crash... by how much is still yet unknown

[Mllcg]

now gahmen can say, "don't say we never help you, now prices drop alr, you still cannot afford, then you shouldn't be driving"

 

to a certain extent it is true. if one needs to max out 10 years loan, one probably shouldn't have car ownership as a priority.

 

no car, no house=no kids.