COE refinements to be finalised in next few weeks

[Bystander50]

And voting in WP, SDP or PeePee party will do what - allow more people to own cars and have more space on the roads to drive?

 

If it drives down the cost of COE, why not?

Don't forget, the cost of COE is factored into your plate of char kway teow or other necessaties.

 

 

[BlueOldMan]

i'm refering to people like my dad!

Good boy, forgive you

[Wt_know]

agreed with you about "wayang"

 

what is the point of public consultation that the result is brushed of by 1 so called expert comment that ban dealer inconvenience buyer to self bid

 

if there is a strong perception means there is a reason to believe so unless all the people who provide feedback and participate in the survey is daft and stupid

 

There was also a strong perception that motor dealers are driving up COE premiums and should be banned from bidding

Edited August 29, 2013 by Wt_know

[Bigtoothpick]

Actually the system is fundamentally flawed. It's been pointed out before. The higher the cost of ownership, the greater the tendency to use the car. Even if actual cost incurred was low, when current market rates are high, the same mentality applies.... Especially when the lifespan of the COE is limited, not using the car is basically a loss of opportunity.

 

Ideally, make ownership cheap but usage expensive. That would get to the root of the problem.

[Ernestchewjiyang0908021996]

Which date will they release the rules

[Bystander50]

agreed with you about "wayang"

 

what is the point of public consultation that the result is brushed of by 1 so called expert comment that ban dealer inconvenience buyer to self bid

 

if there is a strong perception means there is a reason to believe so unless all the people who provide feedback and participate in the survey is daft and stupid

 

There was also a strong perception that motor dealers are driving up COE premiums and should be banned from bidding

 

There is a strong perception, and indeed. Even I believe they are the ones pushing up the COE premiums as it is not their money. They are just interested inhitting their sales quota promised to the manufacturer.

Buyers have no choice but to accept it. Do the ADs allow you to ditate how much you want to bid and will they bid for you in this case?

The so call expert failed to see this point and conveniently push it to the buyers again.

 

 

[Mllcg]

COE cannot be included in the loan good suggestion - then just enlighten me how to implement?

 

1. COE to be paid upfront to dealer or LTA?

 

2. Who to do the bidding? Dealer or Buyer?

 

3. Who will decide how much to bid and stop? Dealer or buyer?

 

4. Do buyer put a deposit for the bid?

 

5. If buyer unable to secure a COE, does he have to pay penalty to dealer?

 

 

So self-bid will solve the 3 problems.

 

car dealer will do only 1 job.

 

sell cars.

 

no coe=not allowed to buy cars.

 

dunno how to bid? ask a family member/friend for help.

 

COE loans allowed.

[Mllcg]

Yes, Wikipedia said HK

[Mllcg]

why return?? bid liao no car obviously bid for fun. confiscate it better.

 

or maybe no car to his liking.

 

then this year low COE he bid and hold until his model release next year

[Elfenstar]

Got to ask whether the motor trader

[Elfenstar]

Yup. At least there is a limit to how many cars one household can possess - based on number of licenses.

 

The point is not to check on the household to make sure no one is buying for another. eg get in wife's name making it two cars for two adults (if children do not have licence yet), or in aged parent's name (those who may or may not drive anymore)

 

That's the secondary market I mentioned. Enterprising people who don't want/have a car in their household will simple sell their names and addresses.

[Elfenstar]

Ok, that sound like a valid argument. Then why cant we buy a car first then bid for coe later ourselves. That is what is happening currently now. The dealers does not have Coe when they sell their cars. Whatever contracts we are using now, will remain the same except the buyers bid for their own Coe

 

You already can if you want. You just can't store the car anywhere but on private property though.

[Elfenstar]

buy liao you cannot get COE how?? are you willng to take the risk??

 

anyway they need COE to registered the car with LTA for car plate license.

 

That's fine lah. At least he's not suggesting for the dealers to give him an option out if he can't get a COE.

[Elfenstar]

What we can do is place a booking for a car without COE. Should we not proceed with the sale after a certain time like 6 months, we pay the AD say $500 for the trouble and get back the rest of the deposit back.

 

What does the AD lose? A potential sale. Also, once we secure the COE, we have say 6 months to register it. So cars that are not yet in SGP can take their own time to come to our shores after we confirm the sale (after we secure the COE). Unforeseen circumstances can always be mitigated by an extension of the COE validity period, subject to conditions.

 

A little convoluted, but at least we get to choose our cars (can even book 3 cars and not proceed with 2 afterwards, forfeiting a processing fee) and then book.

 

The main purpose is NOT to LINK our cars to the COE, and making sure we dont get pressured to get a COE or car, whichever comes first. The loss should be minimal - a booking fee for the car. Those who dont register a car with a secured COE will then be barred from bidding for a certain amount of time.

 

Hope I am thinking straight here...

 

It's not a loss at all. However there is less to gain than to sell the car outright which is what I would do if I were a dealer. Why make a profit of $500 when I can make full profit on the car? Just like property, once we sign an option to purchase you're bound even though you dont own the property yet.

[Elfenstar]

you gone mia since android beat ios...

 

Ahahahahah, what to do I'm a geek and all the mechanical bits etc were discussed to bits liao

[Cluboxed]

it is also a change of the methodology to actual deregistration instead of forecasting/projection..

[Elfenstar]

I disagree. Once you give out a subsidy, most times, people will take it as an entitlement. <- HA! We don't even need subsidies for that. Thanks to the low COE prices before, some people already think that cheap COE prices are an entitlement [laugh]

 

However, why I disagree is because while I believe that the government should give subsidy for medical treatments, the government shouldn't give subsidy for what is essentially a luxury item. If they do, they will have to set up a special agency just to monitor the cases and prevent abuse.

 

Imagine any scenario, whether dialysis patient, or other patients who needs to go to the hospital say 2-3 times a week. Most times, they will have a hospital nearer to their homes, so even if they need specialised transport (cabs) rather than public transport, the cost to them would be probably no more than $20 per journey, which adds up to $40 per day. They don't need to go to the hospital daily. Say a 4 times weekly treatment, will cost $160 a week, or $640 a month. That's already quite a high cost, but bros who own cars will know that the cost of ownership is higher than this amount.

 

So, I vote no for any subsidy of cars, even for the differently abled.

 

[Elfenstar]

It is a open market, if the car dealer don't want to cater then buy another unless you do do die die want that make and model. <- Spot on. Exactly what I said Now, dealer bid for us, 6 times cannot get, ask you top-up or give-up so you LL still have to pay more. <- Exactly what I meant by us chaining ourselves. Give up and go to another dealer instead on insisting on that one make and model. There's no loss to us, and everything to gain.

Why are we so concern that the dealer will "eat" us when we buy our own COE? First, not many people want to bid on their own thus reduced a proportion of buyers, so if 100 COE available only 99 bidders do you think it would still be high?

 

Let's gather the feedback from MCF: -

 

COE bid by buyer = full cash no loan + 10K deposit <- Off topic: I think an omit the 10K. It will be part of the COE, and if you can pay full cash for COE, its's not a problem.

 

With this formula, how many of you still think that COE will remain high at 70K? If a car price is $48,000 without COE, deposit needed is $19,200. So how many can bid for COE at $80K? <- I personally would absolutely love this system and you're right, prices should drop, but it leads to your next point.

 

The only REAL concern is that there is no "projection" of attainability and a STRAIGHT DIVE DOWNWARDS in COE premium because most still can't afford 30K full cash how to bid for COE? <- What's going to happen is we'll have people coming in complaining that the loan restriction is too tight blah blah and say that the man on the street cannot afford cars as they need them to have kids, etc then say only the rich have benefited You know it's true

 

And for the other problem, buyer asking dealer to bid without LTA knowledge, it is like how to stop student cheating with invigilator around. If it is a law to stop car dealer from bidding, who will dare to break the law just to get business? Once the authority caught 1 or 2 companies doing that, the rest will just stop. <- Dealer don't bid can. I predict what will happen is that the salesperson will bid as an individual for you. Of course you'll need to give him your singpass ID and passward + 10k first (which he/she might run away with)