How low will COE go?

[Thaiyotakamli]

U are wrong. Lehman crisis is short lived. Coe are cheap that's why, plus 100% loan.

 

The worst is Asian economic crisis. I think u haven't finished secondary school then. I was retrenched in 1998 n has seen 1997 to now. Worst is 1997-1999 and 2003 H1n1 bird flu pandemic, and the 1 year after Sept 11, 2003.

 

Those time, I was just glad I had a job to pay my rent, and a life to see the next morning.. who cares what level is Coe then..

I remembered rupiah drop like siao and ind bank offer 20-25% interest rate p.a for deposits

[Mkl22]

Choose a 15k omv car with 10k cevs rebate or 10k omv car w 15k cebs rebate, add 10k dealer profit and your desired coe price X.

 

Option 1

 

OMV 15k

ARF 15k (100%)

Tax 4.5k (30%: customs duty + gst)

CEVS rebate -10k (because cevs rebate requires min 5k ARF paid)

dealer profit 10k

 

total cost w/o coe 34.5k

add coe ?k

 

total cost 34.5k + coe

 

Option 2

 

OMV 20k

ARF 20k (100%)

Tax 6k (30%: customs duty + gst)

CEVS rebate -15k (because cevs rebate requires min 5k ARF paid)

dealer profit 10k

 

total cost w/o coe 41k

add coe ?k

 

total cost 41k + coe

 

For both case can loan 60% because omv <20k

 

Dealer profit cannot be 10k la. In the past maybe. Now the Coe volume is so thin. Dealer eat grass if 10k margin.

 

[Astralee]

U are wrong. Lehman crisis is short lived. Coe are cheap that's why, plus 100% loan.

 

The worst is Asian economic crisis. I think u haven't finished secondary school then. I was retrenched in 1998 n has seen 1997 to now. Worst is 1997-1999 and 2003 H1n1 bird flu pandemic, and the 1 year after Sept 11, 2003.

 

Those time, I was just glad I had a job to pay my rent, and a life to see the next morning.. who cares what level is Coe then..

Totally agree, during tat period, even if car is free also got to worry abt petrol and parking cost. Always lookin ard where is the cheapest car park in town.

 

[Chucky2007]

omg, u are the greatest visionary in mcf..

 

u knew in 2009 that COE quota will be cut in 2011 and never warned us!

 

Thank you thank you. u also not affected..

 

Anyway I also don't know u.. why need to warn u?

[Chucky2007]

I remembered rupiah drop like siao and ind bank offer 20-25% interest rate p.a for deposits

IDR from 1700 to S$1, to 8000+ to S$1 almost over night. Deposit interest for rupiah is 50%.

[Wt_know]

unless there are really few buyers due to 50% downpayment and 50% loan for new car

now that all dealer chut pattern with their in-house finances up to 80%-90% loan ... coe is hard to crash, no?

 

cat A $70K > $50K ... stabilise?

 

cat B $90K > $70K > $60K ... stabilise?

Edited March 3, 2013 by Wt_know

[Thaiyotakamli]

IDR from 1700 to S$1, to 8000+ to S$1 almost over night. Deposit interest for rupiah is 50%.

I remember property crash, asean hit the worst. But that time property price as low as after lehman case

[Solar]

Valid point. Obama just cut spending, Europe (especially Italy and Britain) is now doing very badly. Economy may turn for the worse any time.

 

With 10-year car loan and sudden out of job, can't imagine how the people are going to handle. Want to sell car also have to cough out additional money to pay the balance of car debt.

 

don't forget also, japan and china..and the currency war right now.

 

i also happened to catch some sort of finance management show on tv last night.. wang lu jiang interviewed some financial guy and a lady from cpf.

last night's episode was teaching about financial prudence when one buys a property.

 

if i'm not wrong, this is not the first time 154th and state media has been trying to 'educate' the public to buy within their means.

 

property... compared to cars, that one die even more standing

[Solar]

U are wrong. Lehman crisis is short lived. Coe are cheap that's why, plus 100% loan.

 

The worst is Asian economic crisis. I think u haven't finished secondary school then. I was retrenched in 1998 n has seen 1997 to now. Worst is 1997-1999 and 2003 H1n1 bird flu pandemic, and the 1 year after Sept 11, 2003.

 

Those time, I was just glad I had a job to pay my rent, and a life to see the next morning.. who cares what level is Coe then..

 

and i was on contract job from 1999 to 2004.

knn.. every year scared contract not renew and no hit from perm hire.

 

no fun that one.. especially if one has many mouths to feed.

[Majordan]

omg, u are the greatest visionary in mcf..

 

u knew in 2009 that COE quota will be cut in 2011 and never warned us!

 

a lot of my frens bought cars in late 2009, early 2010, myself included. it doesn't take a visionary to do it. the gov already announced the COE cuts in early 2009 I believe.

I think it's called common sense

[Wt_know]

spore property is on viagra ... not going to go down for some time

property punter bet that those who want but not change car due to high downpayment may turn into property by saving a little more ... huat ah !!!

 

property... compared to cars, that one die even more standing

Edited March 3, 2013 by Wt_know

[13177]

a lot of my frens bought cars in late 2009, early 2010, myself included. it doesn't take a visionary to do it. the gov already announced the COE cuts in early 2009 I believe.

I think it's called common sense

Didnt remember whether the gov got announced the COE cuts back in 2009?! But sometimes when buy car also must depends on many factors lo. I know some friends didnt buy cars in late 2009 or early 2010, cause their cars only about 2-3 year old back then.

[Des_k]

Dealer profit cannot be 10k la. In the past maybe. Now the Coe volume is so thin. Dealer eat grass if 10k margin.

 

You can refer to this to roughly know how much AD is earning.

 

http://www.onemotoring.com.sg/publish/onem...Cost_Update.pdf

 

[Beng2]

unless there are really few buyers due to 50% downpayment and 50% loan for new car

now that all dealer chut pattern with their in-house finances up to 80%-90% loan ... coe is hard to crash, no?

Ya lor, I am hoping for COE to crash. These lenders are spoiling the show.

 

I wonder whether MAS will plug this loophole. After all, the banks and finance companies that cannot loan > 50% will surely see red and complain of unfair playing ground.

 

[Tailgatepro]

Within 3 month , coe will drop below 20k or even 10k below.... Especially 1.6 below. Rich ppl will still continue bid higher Coe for bigger cc

[Camrysfa]

Didnt remember whether the gov got announced the COE cuts back in 2009?! But sometimes when buy car also must depends on many factors lo. I know some friends didnt buy cars in late 2009 or early 2010, cause their cars only about 2-3 year old back then.

 

 

hehe.......Singapore GE was in 2011. There was a change of Transport Minister. Then LTA said there was over projection of COE quota. The COE problems started. Correct me if I am wrong.

[Leafable]

Crash? Don't be silly. You still can get 100% loan and 10 years repayment. Thats tons of bank not regulated by MAS. Big player like Century Tokyo, Hitachi & etc. Only Singapore high street bank got effected.

[Camrysfa]

Crash? Don't be silly. You still can get 100% loan and 10 years repayment. Thats tons of bank not regulated by MAS. Big player like Century Tokyo, Hitachi & etc. Only Singapore high street bank got effected.

 

 

Maybe if buy from AD have to pay by new ruling......if not, yes agree, COE will go upwards.