2015 May, 2nd COE Bidding Exercise

[Voodooman]

 

do not need to wait till this weekend

 

there were already quite a number at the Subaru showroom today

 

Mercedes Cat A bookings still sizable.

 

The latest COE correction is a healthy one and long overdue

I don't think a 2k drop will draw in the crowd, it is just the normal crowd lah (many people are looking around). A drop below 60k will definitely see demand coming back strongly.

[Piyopico]

I don't think a 2k drop will draw in the crowd, it is just the normal crowd lah (many people are looking around). A drop below 60k will definitely see demand coming back strongly.

You have not taken delivery of your ride? Like a few months oredi.

[zerobim08]

 

That's incorrect. You do get 50% of surcharge back according to lta hotline I queried.

Are you really really sure? CEV is not lumped together with ARF. It is another category of tax. If you have cev rebate you can use it to offset ARF. If it is surcharge then you pay it like another tax.

[Voodooman]

You have not taken delivery of your ride? Like a few months oredi.

Took delivery recently.

[Falc]

Are you really really sure? CEV is not lumped together with ARF. It is another category of tax. If you have cev rebate you can use it to offset ARF. If it is surcharge then you pay it like another tax.

 

As I said, that's what lta officer told me over their hotline. I can't rule out that officer is himself wrong.

 

Anyone has first hand experience to confirm?

[Angcheek]

You clocked 50k already ? Hahaha go nshw up to Ipoh eat ipoh hofun.

 

Took delivery recently.

[yo2020]

CEV is not lumped together with ARF. It is another category of tax. If you have cev rebate you can use it to offset ARF. If it is surcharge then you pay it like another tax.

 

correct, surcharge is surcharge n rebate is to offset ARF.

 

http://www.sgcarmart.com/news/events_features.php?AID=3135

Edited May 21, 2015 by yo2020

[Wt_know]

which means dealer have to price the car higher to recover the profit margin from CEVS ... muahahahaha

[yo2020]

You clocked 50k already ? Hahaha go nshw up to Ipoh eat ipoh hofun.

 

 

to travel 1000km for RM3 horfun??

 

[yo2020]

which means dealer have to price the car higher to recover the profit margin from CEVS ... muahahahaha

 

instead, i would expect the margin per car can b lower now as dealers can sell much more cars now (coz more quota).

 

[robson71]

no all rushing in lah,

like me COE expiry in Aug, I totally give up buy new car,

renew COE or buy used car or rent car, one of 3

one of my friend also renew COE instead of buy new car

 

my also expiring in Aug thus dive in.

 

my friend with COE expiring in Jan 16 has intention of extending COE for 5 years but accompanied me to see new cars. Then he thought, 2nd hand better. Somehow after some more mathematics he felt not worth it and decided to buy new Mazda 2 and when we finally booked, he too booked a new Mazda 3.

 

A lot of Singaporean really rich, can change decision and pay easily.

[Powxus]

 

my also expiring in Aug thus dive in.

 

my friend with COE expiring in Jan 16 has intention of extending COE for 5 years but accompanied me to see new cars. Then he thought, 2nd hand better. Somehow after some more mathematics he felt not worth it and decided to buy new Mazda 2 and when we finally booked, he too booked a new Mazda 3.

 

A lot of Singaporean really rich, can change decision and pay easily.

 

Old car depreciation is same as new car. So it's not really worth getting an old car unless you can't cough out the upfront cash.

[Mkl22]

 

Old car depreciation is same as new car. So it's not really worth getting an old car unless you can't cough out the upfront cash.

 

thats for buying a used old car in the market. the depreciation is even higher than a new car.

 

but if you renew COE for your existing car, for sure it will be cheaper over the next 10years.

[t0y0ta]

 

thats for buying a used old car in the market. the depreciation is even higher than a new car.

 

but if you renew COE for your existing car, for sure it will be cheaper over the next 10years.

 

Yes noticed that too - depreciation highest for those cars left 2-3 years.

 

So those with cash will go new car, 2nd hand probably left for those on the fringe.

[Powxus]

 

thats for buying a used old car in the market. the depreciation is even higher than a new car.

 

but if you renew COE for your existing car, for sure it will be cheaper over the next 10years.

 

For renew of COE, you have to consider the condition of the car. One of my friend brought a 9 year old car and the car has been going in and out of workshop once with major engine overhaul.

[Tohto]

 

instead, i would expect the margin per car can b lower now as dealers can sell much more cars now (coz more quota).

 

 

Dealer already get use to high margin per car. I think it is difficult for them to reduce the money going into their pocket. That's the greed of human...

 

For renew of COE, you have to consider the condition of the car. One of my friend brought a 9 year old car and the car has been going in and out of workshop once with major engine overhaul.

 

9 yrs old if still need to do engine overhaul, I will rather scrap it. Not worth the cost.

[Powxus]

 

Dealer already get use to high margin per car. I think it is difficult for them to reduce the money going into their pocket. That's the greed of human...

 

9 yrs old if still need to do engine overhaul, I will rather scrap it. Not worth the cost.

 

Scrap will lose big time with current depreciation. No matter how well you take care of the car, there will be problems after 10 years of use. To continue use for another 5 to 10 years you should be prepare to overhaul the engine and replace major parts.

[Limwsv]

I don't think a 2k drop will draw in the crowd, it is just the normal crowd lah (many people are looking around). A drop below 60k will definitely see demand coming back strongly.

 

Praised!

 

Price floor for COE should be fluctuating around the 55K to 65K range for the next few rounds. Will not fall until the 55K - 60K band of buyers have bought their cars.