Sturtles 6th Gear October 13, 2014 Share October 13, 2014 Let's say the OMV is $20K for the car you are going to buy, say CEV rebate is $5K for this model. You get the $5K rebate once you sign the dotted line. It's either you pocket it or you use the 5K to offset the price tag. But the car's OMV minus $5K. Once you take ownership of the car the OMV or or the so called parf value starts from $15K and it depreciates from there. So if dealer mark up $5K they literally pocket the rebate. Not the car buyer. I dunno who the CEV is designed trying to help. Car dealer or car buyer? Can't help feeling LTA puts the benefit of AD in mind when they conceive the scheme. What is the point of their endless schemes, when Singapore car population is so limited. If they want everyone to drive an EV Prius, or Tesla to reduce pollution, then adjust the taxes upfront, so these cars cost the same as a QQ or picanto. COE still floats so it will still price car ownership away from low liquidity peeps. For COE, that is another policy review altogether. ↡ Advertisement Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 13, 2014 Share October 13, 2014 It is amazing that our ministries with all the scholars around, are always being outsmart of the ADs. The real people that know how to run the country are all too busy cutting hair, driving taxis and selling cars. Link to post Share on other sites More sharing options...
Watwheels Supersonic October 13, 2014 Author Share October 13, 2014 What's wrong with companies making more money? After all companies are their to make profits. Its all just jealousy. This dealer just sour grapes. That's why I asked. The CEV policy is intended for who to benefit? Car dealer or car buyer? If car dealer they are already making a decent profit from selling a car. As for the car buyer is already bruised with the COE and taxes, adding this CEV is additional blow, not benefit. LoL... Can't help feeling LTA puts the benefit of AD in mind when they conceive the scheme. What is the point of their endless schemes, when Singapore car population is so limited. If they want everyone to drive an EV Prius, or Tesla to reduce pollution, then adjust the taxes upfront, so these cars cost the same as a QQ or picanto. COE still floats so it will still price car ownership away from low liquidity peeps. For COE, that is another policy review altogether. They thought car dealer make an honest living. LoL.... It's an honest mistake lah, let's move on. Haha... So if u got a low OMV car that is eco-friendly and get a good CEV rebate, but marked up selling price by dealer = GG? If you step back to see the whole picture. Car dealer pockets the rebate. Car buyer's car value drop making it a depreciation king. Link to post Share on other sites More sharing options...
Contax 1st Gear October 13, 2014 Share October 13, 2014 What's wrong with companies making more money? After all companies are their to make profits. Its all just jealousy. This dealer just sour grapes. It's all about integrity , nothing wrong with making money as a business entity. Link to post Share on other sites More sharing options...
Baal Supersonic October 13, 2014 Share October 13, 2014 usually benefits provided via trickle down effect are negated somewhere down the halfway mark. Will be lucky to find a couple of drops/crumbs at the bottom. ADs reaping most of the benefits is expected considering we are one of the world's most business friendly places. 1 Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 13, 2014 Share October 13, 2014 That's why I asked. The CEV policy is intended for who to benefit? Car dealer or car buyer? If car dealer they are already making a decent profit from selling a car. As for the car buyer is already bruised with the COE and taxes, adding this CEV is additional blow, not benefit. LoL... Its all about protecting business and not consumers. Who cares about the comsumer? We proudly proclaim we are business friendly, I have never heard us proclaiming we consumer friendly 1 Link to post Share on other sites More sharing options...
Myxilplix Turbocharged October 13, 2014 Share October 13, 2014 The real people that know how to run the country are all too busy cutting hair, driving taxis and selling cars. It's funny how singaporeans are often seen as uncreative or too by-the-book, but we have proven that we are very good at finding loopholes in government policies. Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 13, 2014 Share October 13, 2014 It's funny how singaporeans are often seen as uncreative or too by-the-book, but we have proven that we are very good at finding loopholes in government policies. Haha yeah! When it comes to money, we are the most creative. When there is no incentive involved then we cannot be bothered to be creative. Link to post Share on other sites More sharing options...
LoverofCar 6th Gear October 13, 2014 Share October 13, 2014 All these reviews are gearing toward to Satellite ERP to be implemented lah....Once it get implemented....it will cause every car owners to bleed to death......don't need all these scheme and that scheme to cut you bit by bit....one pa-lan-toh will chop us jialat jialat... Link to post Share on other sites More sharing options...
Baal Supersonic October 13, 2014 Share October 13, 2014 Our Dan Tan is world number 1. International network. Radio also say Euro 3 for bikes going to start liao. With that, expect a 20% increase in prices of new bikes available due to more limited choices.I think Bike AD will also take the chance to up the price since they know that these buyers no longer have the earlier options... 3 Link to post Share on other sites More sharing options...
F355 Turbocharged October 13, 2014 Share October 13, 2014 Let's say the OMV is $20K for the car you are going to buy, say CEV rebate is $5K for this model. You get the $5K rebate once you sign the dotted line. It's either you pocket it or you use the 5K to offset the price tag. But the car's OMV minus $5K. Once you take ownership of the car the OMV or or the so called parf value starts from $15K and it depreciates from there. So if dealer mark up $5K they literally pocket the rebate. Not the car buyer. I dunno who the CEV is designed trying to help. Car dealer or car buyer? Another point to note ; irrespective whether AD pockets the rebate or new car buyer benefits from it , the savings is not passed on to subsequent 2nd hand buyers . The first owner enjoys the rebate , drive 3 yrs , sell car , then subsequent owner no bite of the cherry. To be fair, this rebate is to be spread over the 10 yrs lifespan of the car , instead of one off upfront. One way is to factor the rebate/tax into a annual affair , like tying it to road tax , for eg . 1 Link to post Share on other sites More sharing options...
Vyeron 4th Gear October 13, 2014 Share October 13, 2014 They made mistake - car owner pays. They tried to amend their mistakes - car owner pays more. Conclusion, whatever they do, drivers have to pay more. How they came out with 62 million loss? How about % gain from COE over the past 5 years? Its more profit driven than serving public. No, this isnt Democracy, its Slavery. Link to post Share on other sites More sharing options...
Notsogoodman 4th Gear October 13, 2014 Share October 13, 2014 Its 'lose'. Not real loss. CEVS is a rebate against PARF - meaning owners take back lesser PARF. LTA never actually take lesser money from owners upfront, so where is the loss? Its arbitrary. But they did take 'more' from COE. Beneficiaries are dealers, they makan owners CEVS rebates to make up their loss in sales due to lesser COE. Who actually lose? Owners. They do lah... Say OMV = $20K ARF = 100% of OMV = $20K CEVS Rebate = $10K Actual ARF paid will thus be $20K - $10K = $10K ($20K for a car without CEVS rebate) at the end of 10 years, PARF = 50% of ARF = $5k ($10K for a car without CEVS rebate) Thus, for a OMV $20K car with CEVS rebate of $10K, they collect $10K less tax upfront and return you $5k less at the end of 10 years, thus they collect $5k less over a 10yr COE lifespan of the car. However, DO NOTE That ARF above $20k is now tiered (140% for $20k to $50k, 180% for $50k and above).... CEVS rebate becomes more insignificant for cars with much higer OMVs... In essence, ARF is now tiered towards taxing the "rich" to subsidise the "poor".... but the execution of the whole CEVS rebate thingy is a mess and cause confusion and no real benefits to end consumers... The whole taxation and categorisation system for vehicles are way too complicated Link to post Share on other sites More sharing options...
Notsogoodman 4th Gear October 13, 2014 Share October 13, 2014 IMHO, a much simpler and fairer solution would be to reward owners of "greener" vehicles a certain cash amount for every year they hold onto their vehicle. For example, instead of a $10K CEVS that knocks off the ARF, they could give owner a $1k cash rebate annually for 10 years (and this rebate follows the car so that subsequent owners enjoy the benefits too). And thus, the benefits will go to end consumers than dealers Link to post Share on other sites More sharing options...
Wildfaye29 Turbocharged October 13, 2014 Share October 13, 2014 They do lah... Say OMV = $20K ARF = 100% of OMV = $20K CEVS Rebate = $10K Actual ARF paid will thus be $20K - $10K = $10K ($20K for a car without CEVS rebate) at the end of 10 years, PARF = 50% of ARF = $5k ($10K for a car without CEVS rebate) Thus, for a OMV $20K car with CEVS rebate of $10K, they collect $10K less tax upfront and return you $5k less at the end of 10 years, thus they collect $5k less over a 10yr COE lifespan of the car. However, DO NOTE That ARF above $20k is now tiered (140% for $20k to $50k, 180% for $50k and above).... CEVS rebate becomes more insignificant for cars with much higer OMVs... In essence, ARF is now tiered towards taxing the "rich" to subsidise the "poor".... but the execution of the whole CEVS rebate thingy is a mess and cause confusion and no real benefits to end consumers... The whole taxation and categorisation system for vehicles are way too complicated Not wrong in this sense, but they did take a lot more from COE as compared to 5k, 10k, 15k, 20k in CEVS rebates. And not all vehicles are eligible for CEVS rebate. Overall, I would say they still gain from the increased COE. Link to post Share on other sites More sharing options...
L23 6th Gear October 13, 2014 Share October 13, 2014 Complain so much.. But in the end ppl still buy car.. So complain for what leh... Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 13, 2014 Share October 13, 2014 Complain complain in the end still vote lining Link to post Share on other sites More sharing options...
Watwheels Supersonic October 13, 2014 Author Share October 13, 2014 (edited) It actually makes ppl wonder what kinda ppl are working inside this organisation called LTA. I'm talking about the management ppl. Do they drive? Of course they do. It's either they are all "yes" men & women to the Mr Lui or they are paid so well this doesn't even bothers them. LoL... It's actually sad they have to get feedback from the car dealers and the public. I think it's scary to work in such a place. I think it's a robot factory where robots are program to do one thing and one thing only and that is to obey. I dunno but seriously I'm beginning to think ppl working inside kao tao to Mr Lui & Ms Teo and kiss their toes whenever they go for meeting. Edited October 13, 2014 by Watwheels ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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