2015 Jun, 2nd COE Bidding Exercise

[Andyngps]

One thing I dun like about Toyota is that the SE look people no up. When I drove my 9+ toyota vios and went in with my young family. No SE gave me a glance. I was there molesting the car and helping myself and my famoly. The SEs were quite free. Some were playing with hp but no one came forward to assist me though we looked at their direction.

 

My wife was telling me since toyota doesn't want to do business why be so thick skinned. Ended up we drove over to Mazda. The SEs were good. Immediately before I opened the door, one SE attended to me and was very detailed in explanation and not pushy. But the price didn't match my psychological barrier of $100k after all in and I even test drove it. I ended up texting him every now and then to see if price has reduced. He followed up promptly.

 

Then by chance, happened to know that hyundai has brought accent manual in. Was just glancing to see got any deal, likewise the SE came up to me and attended to my needs. Told me it's $96988 with 3 years servicing, 1 year road tax. Freebies can be negotiated. Rebate at 67k. She was very sincere and genuine, the test drive was very good. But still I ended up walking away as I do not like to sign on the spot. The price was beyond my psychological value of $100k.

 

When I reached home, she was still texting me and gave me a courtesy call where I told her I will sleep over it. Thought through the night, ended up brought family down for second test drive. Reconfirmed the reason for buying. And there you have it. The SE even came back specially on her off day to secure the deal. And there you have it :)

That is why i siam toyota too. Most of them already exceeded target and i heard sales auto come in for them...Nb.

 

I have a very different experience at Mazda. When I went to Ubi showroom, a lady was prompt enough to receive us & recommend SE to us but that SE cannot make it. He saw us looking at various models, i.e. 2, 3, 5, 6 but what's wrong with looking at all that's available in the showroom, especially that's our first time ever going to Mazda showroom? When we asked him to work out the quote for us, he seemed impatient, asked him got trade in, said they don't do it but don't these ADs have tie up with dealers? Asked him abt insurance price, he said don't know... He probably has the mentality that we are not sincere buyer since we look at a range. The showroom at Leng Kee was even worse, our experience was just like yours at Toyota. We also brought our kids along, maybe some people have the mentality that we are not sincere buyer cos whole family went, like going family outing, but they never think that it's precisely we're looking for a car that we even bother to bring kids along to see cars, else, why burn our weekends to view cars when we can do better things. If the SE had bothered to talk more about trade in, he wld have known that our car was already into the 9th yr & family usually with young kids will consider getting a replacement as we need to drive our kids around & it will be soon before the 10yrs are up.

 

I ended up getting a Kia, although I know they have profited a lot from the drop in COE price, I did not regret it as the SE is great! He's same like your Hyundai SE, came back on his off day to secure the deal, & when my kids complained hungry, he took out biscuits for them. When we were signing the papers, he was very detailed in going through them. Maybe, Korea companies like Hyundai & Kia are more eager in securing deals, & hence provide better service.

Similarly...too much sales for mazda liao. I had the same experience too. So far I tried nissan and they seemed more welcoming..

[bunnybluey]

That is why i siam toyota too. Most of them already exceeded target and i heard sales auto come in for them...Nb.

 

Similarly...too much sales for mazda liao. I had the same experience too. So far I tried nissan and they seemed more welcoming..

 

Toyota svc is good if you try asking abt their bigger car, like Camry!

 

My 2nd car was a Nissan Latio, gave me quite a bit of headache, so I already strike out Nissan this time! Luckily COE last time was cheap, so didn't spend as much on the total cost of owning it as now, but the repair costs added up quite a bit.

 

Go to VW, svc also very good, prob people siam due to all the recent negative publicity. Maybe those ADs that are quieter would provide better service as anyone who walks in is a potential customer to them, as compared to popular ones like Toyota & Mazda, they probably think we're just going there to explore flea market, as in walk walk look look see see only...

[Heman75]

Not so bad la.

 

If you had waited after July the prices will be 10k more for the C Class. C&C raised the price by 10k after taking away the CEV thingy.

 

 

Even though coe drops 10k but price is adjusted back to square and buyer ends up holding a car with lower coe yet gotto pay the same price pre CEV.

 

Just enjoy your upcoming ride.

LTA is smart.. give from left pocket and take from right pocket, maybe more from right pocket.

[Raymondism]

Why buy certain cars just becos you think the SE is nice?

[Blackyv]

LTA is smart.. give from left pocket and take from right pocket, maybe more from right pocket.

 

standard SOP.. give u a drumstick, will take back a whole chicken..

[Heman75]

Why buy certain cars just becos you think the SE is nice?

that is the reason I don't test drive until I am very sure. I understand once you test drive with a certain SE then you will be logged under that SE. no happy just change another SE.

[Penknife]

just wondering, since garmen like to tie every damn thing to SG50 (like giving special SG50 bonus to civil servant), will we see Cat-A at 50K , cat-B at 50K and cat-E at 50K also on GE week??.. hehe

got Cat D $50?

[efssc]

 

They bidded 58XXX 3 times when i bought the car at 106XXX. After i topup 6k when the COE was $66590 they continue to bid 58XXX for me. Whats the point of me topping up and wasting my time if i can only secure the car if COE drops below 58K?

 

Not sure if the following is good reference.

 

Friend of mine placed order for his car with 6 bids non-guaranteed COE back in Feb, since then almost every cycle COE went up a bit and his SE kept calling him to persuade him to top-up "else he will miss the chance once COE go up further". Friend insisted "no" so just before the 6th / final bid his SE called him with an ultimatum; "last chance, top-up now or that's it", to which he replied "good, then you give me back my deposit so I can go buy some other, cheaper car".

 

Ended up his SE gave it to him on the 6th bid despite him not topping up and COE going up since the time he placed order.

 

I think SEs have fat profit margins (probably $five-digits), and would have no problem "absorbing" a few $ks of increment in COE, nonetheless they will still call us to top-up whenever COE goes up so that they can keep that fat margin. But if we refuse, then to them it become a choice / risk of either "earning a little less or earning nothing at all (if we bring our business somewhere else)", and I think in most cases, their choice would be obvious.

 

Of course it might also end up that we ultimately still don't get our car after the last bid, then just take back our deposits and go for another brand lor.

 

Good luck!

[Blackyv]

got Cat D $50?

 

got, but last minute at 15:59 some moron will push it $5000 ...

[Lincoln]

 

Not sure if the following is good reference.

 

Friend of mine placed order for his car with 6 bids non-guaranteed COE back in Feb, since then almost every cycle COE went up a bit and his SE kept calling him to persuade him to top-up "else he will miss the chance once COE go up further". Friend insisted "no" so just before the 6th / final bid his SE called him with an ultimatum; "last chance, top-up now or that's it", to which he replied "good, then you give me back my deposit so I can go buy some other, cheaper car".

 

Ended up his SE gave it to him on the 6th bid despite him not topping up and COE going up since the time he placed order.

 

I think SEs have fat profit margins (probably $five-digits), and would have no problem "absorbing" a few $ks of increment in COE, nonetheless they will still call us to top-up whenever COE goes up so that they can keep that fat margin. But if we refuse, then to them it become a choice / risk of either "earning a little less or earning nothing at all (if we bring our business somewhere else)", and I think in most cases, their choice would be obvious.

 

Of course it might also end up that we ultimately still don't get our car after the last bid, then just take back our deposits and go for another brand lor.

 

Good luck!

 

The anxiety of waiting usually cause one to make irrational (i.e. expensive) decisions. Until recently, owners normally trade in a car with plenty of shelf life. Thus, time is never an issue and the owner always have a ride. However, the current batch of buyers dun have this luxury as their cars are expiring in a few months. As such, this issue of not having a car during the transition period is a key driver for this anxiety. In my opinion, too many people rather make the costlier option of buying earlier or buying the so-called "carrot" guaranteed price. If you truly believe COE is going to be much lower, one should really just do without a car and prepare to wait.

Edited June 18, 2015 by Lincoln

[Caravan]

Why buy certain cars just becos you think the SE is nice?

 

I don't think it's buying a particular car because the SE is nice. It's more like when the choices and prices are so similar, the service may be the deciding factor. (Unless one thinks that toyota is the 'best' and must die-die buy it.) If the car doesn't fulfil the needs and budget, SE nice also no use.

[Limwsv]

 

i'm curious...what's your expectation of COE price range during September

40k? 50k?

 

Should be hovering around 45K - 55K band. BM tested the market back in CNY. I am interpreting the aftermath as the entry of 50K - 60K budget people. When the COE went back up and hover around 65K, that batch of people dried up.

 

Anyway, looking at the COE is not quite the right way of measuring the market, we should be looking at the total price of the car, which is basically an affordability issue, ie 50% downpayment + 50% loan for 5 years. Even with COE at 45 - 55K, an Altis is still going to be around 100K. So that's going to be 50K out of pocket to get a new car. To put it in perspective, that's the down payment of a Resale HDB 3 room flat in Woodland.

 

Until that pool has done their purchases, we won't see COE dropping below 45K. With another 50K of COEs due to be de-register before end of the year, hopefully that pool will by satiated by then.

 

Here are some of my assumptions

(1) The 50K re-entrants are more price sensitive since

- they held their car until the full 10 years instead of changing out between 2008 - 2013, when COE was trending up but remained affordable.

- this batch got their COE at 25K - 35K, they have to break their psychological barrier to be willing to fork out at 45K - 55K, ie twice what they use to pay for a COE

- this batch comes from the 40 decile - 70 decile income band, and has less disposable income and savings to spend on cars

(2) Politics between ADs, PIs remain constant. For them the total market and thus profitability is a known factor since the COE pie is only so big. It's just a question of whose slice of the pie you want to snatch. Ie Japan snatch from Euro, Subaru snatch from Toyota, PIs from ADs.

[Heman75]

 

Should be hovering around 45K - 55K band. BM tested the market back in CNY. I am interpreting the aftermath as the entry of 50K - 60K budget people. When the COE went back up and hover around 65K, that batch of people dried up.

 

Anyway, looking at the COE is not quite the right way of measuring the market, we should be looking at the total price of the car, which is basically an affordability issue, ie 50% downpayment + 50% loan for 5 years. Even with COE at 45 - 55K, an Altis is still going to be around 100K. So that's going to be 50K out of pocket to get a new car. To put it in perspective, that's the down payment of a Resale HDB 3 room flat in Woodland.

 

Until that pool has done their purchases, we won't see COE dropping below 45K. With another 50K of COEs due to be de-register before end of the year, hopefully that pool will by satiated by then.

 

Here are some of my assumptions

(1) The 50K re-entrants are more price sensitive since

- they held their car until the full 10 years instead of changing out between 2008 - 2013, when COE was trending up but remained affordable.

- this batch got their COE at 25K - 35K, they have to break their psychological barrier to be willing to fork out at 45K - 55K, ie twice what they use to pay for a COE

- this batch comes from the 40 decile - 70 decile income band, and has less disposable income and savings to spend on cars

(2) Politics between ADs, PIs remain constant. For them the total market and thus profitability is a known factor since the COE pie is only so big. It's just a question of whose slice of the pie you want to snatch. Ie Japan snatch from Euro, Subaru snatch from Toyota, PIs from ADs.

Having said so much. The key to this COE saga is actually the Government. The government decision override all. They just need to claw back 50%. All die flat. So actually no point doing logical guessing or deduction.

Edited June 18, 2015 by Heman75

[Mustank]

Having said so much. The key to this COE saga is actually the Government. The government decision override all. They just need to claw back 50%. All die flat. So actually no point doing logical guessing or deduction.

 

[Penknife]

 

The anxiety of waiting usually cause one to make irrational (i.e. expensive) decisions. Until recently, owners normally trade in a car with plenty of shelf life. Thus, time is never an issue and the owner always have a ride. However, the current batch of buyers dun have this luxury as their cars are expiring in a few months. As such, this issue of not having a car during the transition period is a key driver for this anxiety. In my opinion, too many people rather make the costlier option of buying earlier or buying the so-called "carrot" guaranteed price. If you truly believe COE is going to be much lower, one should really just do without a car and prepare to wait.

 

my believe that everyone has to believe, not just a single individual person.

 

also, a normal person will usually buy something today if it is going to be costlier tomorrow. that same person will defer his purchase if it is going to be cheaper tomorrow compared to today.

[titarium]

I would blame BM for the CEO spike , making an imaginary Altis price for the market where else how many here really got their car at offer price without top up ? They didn't manage the demand properly and thus causing a huge spike of demand in between FEB - MAY.

 

I think their plan back fire quite a number who didn't top out opted out and bought other brands.

 

If COE do really drop till 40k mark , I believe those 80 - 90 k COE will start visiting show room .

[Limwsv]

Having said so much. The key to this COE saga is actually the Government. The government decision override all. They just need to claw back 50%. All die flat. So actually no point doing logical guessing or deduction.

 

Sure, have it your way. Government will cold store 50% of the COE starting next month.

 

And I will have it my way, Europe declare recession due to withdrawal of Greece from Euro. USA endures another 6 months of jobless "recovery". Korea, Northern China and Japan economies are halted by massive MERS outbreak.

 

Currency wars cause recession in Singapore as we are no longer a competitive advantage. Everyone die flat. Merc firesales also no one buy.

 

 

Obviously I am a bear on the global economy.

Edited June 18, 2015 by Limwsv

[Heman75]

 

Sure, have it your way. Government will cold store 50% of the COE next month.

 

And I will have it my way, Europe declare recession due to withdrawal of Greece from Euro. USA endures another 6 months of jjobless "recovery". Korea, Northern China and Japan economies are halted by massive MERS outbreak.

 

Currency wars cause recession in Singapore as we are no longer a competitive advantage. Everyone die flat. Merc firesales also no one buy.

 

image the ah gong said now every month only 500pcs of COE.. whatever recession, everyplace sure got some rich people immune to recession. they stir and lou hei the coe to high high.