2015 Jun, 2nd COE Bidding Exercise

[Lincoln]

 

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.

 

Most recent buyers will says reasons such as my car is expiring, I cannot wait anymore, the price is not going to be significantly cheaper... Rarely, you hear someone saying confidently I buy now becos I think the COE is going up...

Edited June 18, 2015 by Lincoln

[Topspin]

 

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!

 

Valid and good advise!

 

In fact I went a bit further than that in my two previous car purchases. I signed the non-guaranteed contract with a further reduction of a one or two thousand $ from the official sale price with the understanding they will likely bid for my COE at a reduced value to offset the reduced sale price. A few months later, I got the cars without needing to top up any COE. Granted this works only if the dealer is prepared to reduce their profit margin or risk not getting nothing from you in the end, as you have correctly described above.

 

From my experience, once they held on to your deposits, they will want to complete the process to earn some profit from you. They will nevertheless play "who blinks first". Just make sure it isn't you.

Edited June 18, 2015 by Topspin

[Limwsv]

Actually have to admire BM balls, they take a risk and try to grab a larger chunk of the COE pie. Unfortunately, their execution stinks, ie they are not able to grab enough of the buyers from the other marques to dictate the COE price.

 

Imagine if they have manage to succeed. They grab 80% of the buyers, the remaining 20% is not going to be enough for the other brands drive up the COE to 65K. They hold their prices and more people flock to BM, triggering a virtuous (vicious cycle on your view). Too bad that the other ADs hold enough buyers to push COE beyond the threshold, spiking the cycle even before the gate opened.

[Vegas]

 

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.

not sure when u go, but if last sat or sun, i prob know the reason why: price up cos of no more stock to reg before jul 1

 

but they should still serve the customers properly.

 

i went on Friday, was good :) but i have refferal from friend.

Edited June 18, 2015 by Vegas

[Caravan]

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.

 

Never say never. The government took advantage of a drop in oil prices to raise petrol tax recently.

If economy really bad, it's just the perfect opportunity to claw back on COE to even out COE supplies.

[Kusje]

Other than year end increase in demand for car, there are aso those who bought at very high coe $ between 2012 to mid-2014

When coe drop to $55k, why should one hold on to car with 80k coe bot during 2012/2013?

So add onto demand...

 

And these fellows will scrap their 80k COE car as well.

 

So add onto the supply.

[Raymondism]

 

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.

Well... then why Toyota has gd sales since their SEs are so stuck up?

Maybe those buyers love lousy treatments

[Limwsv]

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.

 

Fear, Uncertainty, Doubts!

 

I no longer own a car, so I really don't care whether they constrict the COE supply.

 

My analysis still stands whether the COE supply is reduced. Buyers with resources above 65K is almost gone, So, they reduce the COE to 500 pieces per month, are those with budget 45K - 55K going to fork out more? Maybe some, but my bet is that insufficient to hold the COE prices.

 

Your arguments are base on supply-side, my arguments are base on demand-side. ADs can put out the car prices at 200K for Coroalla Altis, but if there are no buyers, there will be no buyers. There are 500 000 cars (ie COEs) running on the road, the top decile and the next decile cannot absorb all of it even if all of them decide to buy 2 cars per household. And my data has shown by even at the top decile, there are still 20% households that choose not to own a car under their own names.

[13177]

Well... then why Toyota has gd sales since their SEs are so stuck up?

Maybe those buyers love lousy treatments

I guess people buy toyota does not bother whether their SE stuck up or not. People buy toyota is for the brand itself. That's why no matter how much the coe price is, you see people still buy toyota cars. Lol.

[Vegas]

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

 

VW SEs selling car time sibei good.

 

When checking for issues, SE say not their prob, servicing guy say no fault found...

[Heman75]

 

Fear, Uncertainty, Doubts!

 

I no longer own a car, so I really don't care whether they constrict the COE supply.

 

My analysis still stands whether the COE supply is reduced. Buyers with resources above 65K is almost gone, So, they reduce the COE to 500 pieces per month, are those with budget 45K - 55K going to fork out more? Maybe some, but my bet is that insufficient to hold the COE prices.

 

Your arguments are base on supply-side, my arguments are base on demand-side. ADs can put out the car prices at 200K for Coroalla Altis, but if there are no buyers, there will be no buyers. There are 500 000 cars (ie COEs) running on the road, the top decile and the next decile cannot absorb all of it even if all of them decide to buy 2 cars per household. And my data has shown by even at the top decile, there are still 20% households that choose not to own a car under their own names.

Demand and supply must link together.. if really 500pcs.. do you know we have a lot of rich ppl in Singapore? when this happen I am not talking about Altis. I am refer to the rich fight within each other not mass market. you will see this 500pcs will be from the elite.

 

anyway I respect your thoughts. I just find argument not needed here. but casual discussion and laughing ok.. no need too serious.

[Nissan833]

I guess people buy toyota does not bother whether their SE stuck up or not. People buy toyota is for the brand itself. That's why no matter how much the coe price is, you see people still buy toyota cars. Lol.

 

When people say they buy it for the brand when it comes to BMW, 4 rings or tri pointed star, I can understand.

 

When people say they buy Toyota for the brand, I could never understand!! What branding?

[Latio2005A]

I do not believe the rich people pool is never to dry up. It is a matter of time people will find the COE price too exorbitant and stop bidding.

 

History is on our side.

COE price since the 90s when the scheme was first implemented, has seen ups and downs.

 

It is up now, it is a matter of time it will come down. The million dollar question is "when"?

 

Those who argue COE price will never come down, I suggest we hold our horse, wait and see.

 

Many signs out there are not favorable. World economy, Singapore's growth, job prospects, poor property sentiments, MERs lurking over the horizon, and what not.

 

Just wait, and eventually i will be proven right. Just don't know when.

[Ben5266]

 

When people say they buy it for the brand when it comes to BMW, 4 rings or tri pointed star, I can understand.

 

When people say they buy Toyota for the brand, I could never understand!! What branding?

Something is wrong with this Brand Ranking site.

 

http://www.bestglobalbrands.com/2014/ranking/

It places Toyota at No. 8 and MB at 10 and BMW at 11.....

 

[Nav14]

 

When people say they buy it for the brand when it comes to BMW, 4 rings or tri pointed star, I can understand.

 

When people say they buy Toyota for the brand, I could never understand!! What branding?

Toyota buyers are usually those who just want 4 wheels, have no time to do comparisons, lazy to do research, want to play it very safe and who love to follow the crowd blindly.

[Limwsv]

Demand and supply must link together.. if really 500pcs.. do you know we have a lot of rich ppl in Singapore? when this happen I am not talking about Altis. I am refer to the rich fight within each other not mass market. you will see this 500pcs will be from the elite.

 

anyway I respect your thoughts. I just find argument not needed here. but casual discussion and laughing ok.. no need too serious.

 

Respect your viewpoint.

 

Unfortunately, for me and many other people with limited resources, COE prices are no laughing matter.

 

We either have to live without it (ie BMW) or go into "virtual" slavery to own it. We need to stop further panic like the CEVs nonsense which throw plans out of the window.

 

If it's not for the CEVS fubar, I probably would have bought a new car if the projected slide has gone as anticipated.

[Heman75]

 

Respect your viewpoint.

 

Unfortunately, for me and many other people with limited resources, COE prices are no laughing matter.

 

We either have to live without it (ie BMW) or go into "virtual" slavery to own it. We need to stop further panic like the CEVs nonsense which throw plans out of the window.

 

If it's not for the CEVS fubar, I probably would have bought a new car if the projected slide has gone as anticipated.

owning a car is luxury to me .. if I cannot afford then be it.. I will have to work harder next time and buy within mean. COE don't have to come down just because I want to buy a car or the government has to make it within our reach although I do credit this saga to government action. this society is realistic money speaks louder. like alibaba founder said, can only blame myself for being poor haha.

[7hm]

When people say they buy it for the brand when it comes to BMW, 4 rings or tri pointed star, I can understand.

 

When people say they buy Toyota for the brand, I could never understand!! What branding?

 

to them... no.1 best-selling marque in the world stands for dependability