2015 May, 2nd COE Bidding Exercise

[Tohto]

 

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

Most of the B & B resale car, the yearly depreciation is higher than new car. Unless it left 1 - 2 year.

[Andyngps]

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

 

 

Temporarily yes until when you need healthcare...

[Voodooman]

 

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.

You are in the military?

 

30k a month?

[clarkkent]

 

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...

 

Or you can buy new car, take 3 years loan. When COE drops, you scrap you car and take back the remaining high COE value and buy new car again.

[Yeshe]

Most of the B & B resale car, the yearly depreciation is higher than new car. Unless it left 1 - 2 year.

 

u must know how to hunt n bargain lah

[Mkl22]

 

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.

So why are you still in Singapore.? There are always plus and minus in every country.

[Mrmilktooth]

Let's see the result tomorrow.. Can't wait.. Lol.. I'm vested..

[kmttan]

You are in the military?

 

30k a month?

 

No, not in military. $30K a month is needed to live in a terrace house and drive a 3.8L MPV in Singapore.

No, I don't earn $30K. So, have to downgrade my lifestyle :-(

[Andyngps]

Never buy Medishield IP ?

 

 

Got but it will always increase in premium mah and it does not cover all. With medishield life things change a bit but definitely got lots of fine lines...

Think last round this time Cat A already starting to up up and away? Now like still got a while more to go.

[Hexxor]

COE will not drop much, with so much easy credit sloshing around due to low interest rate.

Economy strong last few years, everyone made money and good savings.

 

Unless there is a black swan event, COE wont crash. Same issues with housing. Only severe government intervention will lower COE drastically eg - only SG can buy, 1 car one home address, interest rate up severely, or massive COE supply policy by government......

 

Most driver will not give up driving unless they cannot afford it. Once they find a comfortable entry level, will buy car again....

[Yeobt]

the following figures are extracted from the ICA.

all you need is just 30% of the new citizens below to bid for a new COE over the years to jack up our COE prices. so now you should know why our COE prices is not coming down. :)

 

In 2001, 6.5k new citizenships granted.
In 2002, 7.6k new citizenships granted.
In 2003, 6.8k new citizenships granted.
In 2004, 7.6k new citizenships granted.
In 2005, 12.9k new citizenships granted.
In 2006, 13.2k new citizenships granted.
In 2007, 17.3k new citizenships granted.
In 2008, 20.5k new citizenships granted.
In 2009, 19.9k new citizenships granted.
In 2010, 18.8k new citizenships granted.
In 2011, 15.8k new citizenships granted.
In 2012, 20.7k new citizenships granted.
In 2013, 20.6k new citizenships granted.
In 2014?

[Limwsv]

the following figures are extracted from the ICA.

all you need is just 30% of the new citizens below to bid for a new COE over the years to jack up our COE prices. so now you should know why our COE prices is not coming down. :)

 

In 2001, 6.5k new citizenships granted.

In 2002, 7.6k new citizenships granted.

In 2003, 6.8k new citizenships granted.

In 2004, 7.6k new citizenships granted.

In 2005, 12.9k new citizenships granted.

In 2006, 13.2k new citizenships granted.

In 2007, 17.3k new citizenships granted.

In 2008, 20.5k new citizenships granted.

In 2009, 19.9k new citizenships granted.

In 2010, 18.8k new citizenships granted.

In 2011, 15.8k new citizenships granted.

In 2012, 20.7k new citizenships granted.

In 2013, 20.6k new citizenships granted.

In 2014?

 

 

The numbers are useless because they do not account for ability to purchase a car. And why would they have waited for 2015 to buy a car instead of buying one immediately after getting the citizenship. They would have contribute to the COE in the year they become Singaporeans. Using your 1/3 rule, the increase in car demand is only 6 000 in a year (assuming 2014 is also another 20K) where 90 000 COEs are back for grabs. That is only a 6% increase in demand, hardly a big enough number to account for the very much higher COE prices.

 

This chart will give you a better sense of those new citizens incorporated into the existing singapore households and their purchasing power. In other words, you sum your new citizens from 2004 - 2009, and sum 2009 - 2014.

 

 

You can see the household growth and the proportion of cars they buy.

 

Example, between 2004 - 2014, the top 10 decile income households grows by 16 990 households, both natural and new citizens. But their demands for car as a ratio stay constant.

 

Unfortunately, I cannot find the income earned by decile for 2004 and 2009, So we cannot see the growth in income.

 

Also, the number of total households grew by 19.5%, but car population grew by 32.3% between 2004 - 2014. The car population outpace the growth in car demand.

Edited May 20, 2015 by Limwsv

[Andyngps]

2pm liao and still crawling. Today's behaviour rather different from previous bids

Edited May 20, 2015 by Andyngps

[Hydrocarbon]

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

 

No $, take public transport.

 

See more xmm lo..

 

Today, because of jam, driving to work saved me barely 5 ~ 10 minutes over BMW. My colleague whom I tompang managed to see a hot chick driving a Boxster while I was cursing at the guy in front of me for jamming brake.

 

Yesterday, took bus, managed to see quite a few XMM, less stress of jam. Cheaper too... The only thing is if no jam, I waste extra 35-45 mins for public transport and sometimes no seats.

 

Land is scarce in Singapore, that's the reality whether cars are expensive or not. You have to decide whether our country is worthy for you to raise your children, contribute to this little society of ours. The same choice our ancestors have to make - although one can argue it was an easier choice back then with their own war-torn homes and poverty in their home country.

 

To me and I believe for many Singaporeans, the free opportunities, racial and religious harmony, cosmopolitan outlook, are worth defending for. I lived in a few countries briefly, and these are the things that I always look forward to coming back. An American once asked me, what is in Singapore that is not in New York City ?? New York is much more open, much more accepting of new values. I told him, New York does not have the same East and West mix, nor does it have a unique strategic position of being the center of a mix of cultures in Asia. People blends into New York City, but Singapore blends into the people. That's my S$0.02.

 

I read a phrase recently.

 

"What is nationalism but the love of the food one ate when one was very young?"

 

I like it here because I have security (though on the flip side, that makes a lot of Singaporeans complacent about belongings and stuff) and food that I enjoy, XMMs whom I like looking at and can understand. Hehehe...

 

I'm really OT... Too little work today..

[Enye]

coe supply tsunami coming

 

don't worry

 

[Blackyv]

the following figures are extracted from the ICA.

all you need is just 30% of the new citizens below to bid for a new COE over the years to jack up our COE prices. so now you should know why our COE prices is not coming down. :)

 

In 2001, 6.5k new citizenships granted.

In 2002, 7.6k new citizenships granted.

In 2003, 6.8k new citizenships granted.

In 2004, 7.6k new citizenships granted.

In 2005, 12.9k new citizenships granted.

In 2006, 13.2k new citizenships granted.

In 2007, 17.3k new citizenships granted.

In 2008, 20.5k new citizenships granted.

In 2009, 19.9k new citizenships granted.

In 2010, 18.8k new citizenships granted.

In 2011, 15.8k new citizenships granted.

In 2012, 20.7k new citizenships granted.

In 2013, 20.6k new citizenships granted.

In 2014?

I believe Many of these new citizen already own car when with pr status... So, with status change not affecting the number of bidders much...

[Powxus]

coe supply tsunami coming

 

don't worry

 

 

I have been hearing this for the past 2 years. Every COE thread will say supply Tsunami is coming.

But is the increase in supply also match with an equivalent increase in demand ?

[Mrmilktooth]

coe supply tsunami coming

 

don't worry

 

I think we all want Coe tsunami price likenow....

 

But dreaming only..