2015 May, 2nd COE Bidding Exercise

[Angcheek]

 

Let's put this this way. Other countries have no COE and a Camry may cost only USD20K with road tax USD200. However, their income tax is higher. Here in Singapore, we pay lower income tax, because every other households pay $7K tax annually for their car. This is a lifestyle tax, much like the GST.

 

SG has very high Tax . Not much diff from US or EU. They are mostly hidden ... dont be brainwash by the paparasi

[evidence]

My fren who booked a wish during cny was asked to top up 11 k... He doesnt want ...n resigned to the fate of driving an old car again....

[Yeshe]

I'm one of them... gonna go all the way to very last day.

 

 

 

even go all the way, i will only buy resale unless new car price is really so tempting [laugh]

[Wt_know]

dont buy car > take public transport

dont buy private property > live in hdb

dont eat at restaurant > eat at hawker

don't buy rolie > seiko will do

don't drink wine or beer or any alcohol > no sin tax

don't smoke ciggy or cigar > no sin tax

 

like that ... tax is low ... hehe

 

SG has very high Tax . Not much diff from US or EU. They are mostly hidden ... dont be brainwash by the paparasi

 

Edited May 18, 2015 by Wt_know

[Mrmilktooth]

Got $ feel good. Buy car, happy can liao.. No need to consider too much..

 

No $, take public transport.

 

See more xmm lo..

[Angcheek]

Most of them , already doing so haha

 

dont buy car > take public transport

dont buy private property > live in hdb

dont eat at restaurant > eat at hawker

don't buy rolie > seiko will do

don't drink wine or beer or any alcohol > no sin tax

don't smoke ciggy or cigar > no sin tax

 

like that ... tax is low ... hehe

 

 

Of course. But pay 70k tax ... not that happy

Haha xmm nowadays very fierce ... scary

 

Got $ feel good. Buy car, happy can liao.. No need to consider too much..

 

No $, take public transport.

 

See more xmm lo..

Edited May 18, 2015 by Angcheek

[Mrmilktooth]

Most of them , already doing so haha

 

 

Of course. But pay 70k tax ... not that happy

Haha xmm nowadays very fierce ... scary

 

 

Go with your heart.. If your wallet can take it..

 

# Yolo... Hehe

[Kimchicarlover]

 

You are right. A camry that cost S$30K in US vs S$150K in Singapore. The difference of S$120K is essentially a tax of $12K/year. Also, the petrol here also cost twice of that in US. Road tax in US is also around US$150. Hence, the tax we are paying for each car is around S$15K/year. For someone who earns $100K/year, this is 15% tax, excluding the income tax. So, since we pay lower income tax, we can afford to pay higher vehicle tax.

 

Americans have unemployment insurance, social securities, and many entitlements. Their houses are cheap, food is cheap, entertainment is cheap, utilities are cheap and of course, cars are cheap. The whole world supplies the US with consumer goods and fossil fuels for US Fed money with which they use to buy protection for their country. If any country balks on paying protection money, they will end up like Syria, Libya, Iraq, Iran, Venezuela, Russia and Japan (the lost decades on account of the Paris Plaza Accord, when overnight, Japan up its exchange rate to the dollar). How much has Singapore spent on arms from US. Get the picture.

 

America is at the top of the food chain, we are way below. For us, it's no work, no eat. And no money, no Camry.

[kmttan]

 

even go all the way, i will only buy resale unless new car price is really so tempting [laugh]

 

I was also like you, wanted to buy resale only. However, the old cars have the same depreciation rate as the new cars. I find it hard to bite.

[yo2020]

 

I was also like you, wanted to buy resale only. However, the old cars have the same depreciation rate as the new cars. I find it hard to bite.

 

if 1 believes COE will maintain or go up, then buy new is the way.

if 1 believes COE will go down within the next 2 yrs, then cut losses by paying high depre used car (left 2 yrs) for 2 yrs only (instead of 10 yrs). that's the game plan...

 

[Civic6228]

 

SG has very high Tax . Not much diff from US or EU. They are mostly hidden ... dont be brainwash by the paparasi

 

COE not tax lah. Don't buy car no need pay.

 

If you have the time, go check out the income tax rate in Australia.

 

I was also like you, wanted to buy resale only. However, the old cars have the same depreciation rate as the new cars. I find it hard to bite.

 

Some 2nd hand car .... depreciation more than new car.

[kmttan]

 

if 1 believes COE will maintain or go up, then buy new is the way.

if 1 believes COE will go down within the next 2 yrs, then cut losses by paying high depre used car (left 2 yrs) for 2 yrs only (instead of 10 yrs). that's the game plan...

 

 

I get your point. Instead of paying for high depreciation rate over 10 years, getting an older car will only need to pay the same depreciation rate over shorter number of years.

 

Some 2nd hand car .... depreciation more than new car.

ya....Altis has a depreciation of $12K to $13K when the new ones are less than $120K.

[BanCoe]

I thought the super rich will have a team of "Financial Consultants" to do that for them?

Yes they are , but super rich are always trying to be one step ahead of the game and "Tax planning" is how they get away with millons by having companies registered in Cayman/Bermuda or other tax havens

Financial Consultants;- This super rich guys brains even amaze the Consultants

dont buy car > take public transport

dont buy private property > live in hdb

dont eat at restaurant > eat at hawker

don't buy rolie > seiko will do

don't drink wine or beer or any alcohol > no sin tax

don't smoke ciggy or cigar > no sin tax

 

like that ... tax is low ... hehe

 

 

& every 10 years pay one big fat one for the 4 rubbers to call your own

[kmttan]

 

Americans have unemployment insurance, social securities, and many entitlements. Their houses are cheap, food is cheap, entertainment is cheap, utilities are cheap and of course, cars are cheap. The whole world supplies the US with consumer goods and fossil fuels for US Fed money with which they use to buy protection for their country. If any country balks on paying protection money, they will end up like Syria, Libya, Iraq, Iran, Venezuela, Russia and Japan (the lost decades on account of the Paris Plaza Accord, when overnight, Japan up its exchange rate to the dollar). How much has Singapore spent on arms from US. Get the picture.

 

America is at the top of the food chain, we are way below. For us, it's no work, no eat. And no money, no Camry.

 

I previously lived in Monterey, Calfornia for 4 years. California was the most expensive state and Monterey was an expensive city. I was able to survived on less than USD3K a month, for a family of 5, living in a terrace house and driving a 3.8L MPV. Now in Singapore, I'll need $30K. Sad.

[subarudreamer]

join u as well, for the fun of it haha.

 

Cat A 67,389 -,1,200

Cat B 75,889 -1,711

Cat E 76,501 -1,503

 

 

lai lai lai.... last round my tikam was 10 thousand miles away from the actual result, this time round Anal Yee pang sai give me tips, sure win!

 

Cat A 60,888

Cat B 70,888

Cat E 73,888

 

[Ben5266]

 

if 1 believes COE will maintain or go up, then buy new is the way.

if 1 believes COE will go down within the next 2 yrs, then cut losses by paying high depre used car (left 2 yrs) for 2 yrs only (instead of 10 yrs). that's the game plan...

 

COE = Current COE price

k= Number of people think COE will remain high

m= Number of people think COE will goes down

 

COE = COE * k/m + $1

 

[Wt_know]

why come back? monterey is lovely ...

family of 5, terrace house, 3.8L MPV ... this is beyond singapore dream ... 90% cannot achieve this

 

 

I previously lived in Monterey, Calfornia for 4 years. California was the most expensive state and Monterey was an expensive city. I was able to survived on less than USD3K a month, for a family of 5, living in a terrace house and driving a 3.8L MPV. Now in Singapore, I'll need $30K. Sad.

 

Edited May 19, 2015 by Wt_know

[Tigershark1976]

 

COE not tax lah. Don't buy car no need pay.

 

If you have the time, go check out the income tax rate in Australia.

 

Some 2nd hand car .... depreciation more than new car.

 

Yeah man, now old cars selling like hot cakes.... the annual depreciation is higher than new cars... not to mention altis, even vios and jazz is more ex than new car. I believe its due to:

 

1) everyone wanted to wait for COE to drop

2) Some cannot affort to pay for downpayment of new car or almost new 2nd car so have to settle with those cars left with 1 to 2 yrs .