Gumbokins 1st Gear October 2, 2015 Share October 2, 2015 wow... jin heng, I secure at 1.88% on Tuesday. we booked a toyota from BM about 2 weeks ago. also offered 1.88%. Forgot to ask...this rate is fixed or can they anyhowly change? lol ↡ Advertisement Link to post Share on other sites More sharing options...
WoeiSongKeh 5th Gear October 2, 2015 Share October 2, 2015 we booked a toyota from BM about 2 weeks ago. also offered 1.88%. Forgot to ask...this rate is fixed or can they anyhowly change? lol wah 1.88 is super good ! Link to post Share on other sites More sharing options...
Gumbokins 1st Gear October 2, 2015 Share October 2, 2015 wah 1.88 is super good ! we were also quite pleasantly surprised! Link to post Share on other sites More sharing options...
flashbang Turbocharged October 2, 2015 Share October 2, 2015 Haha 1.88% got heng ah... I thought that's normal. The lamest one is the Citi direct car loan. Really no point that they offer 1.48% since dealers say you must use their preferred financing. Link to post Share on other sites More sharing options...
Enye Hypersonic October 3, 2015 Share October 3, 2015 Come out of mountain for what? Don't need me to cool the market, every day news channel have bad news about the economy. That should keep a damper on the enthusiasm of the bulls. Because more and more previous bears couldn't wait anymore and jumped into the fray. So the newly converted bulls are very vocal and there are lesser and lesser bears left in the game 😂 Link to post Share on other sites More sharing options...
kmttan 4th Gear October 3, 2015 Share October 3, 2015 Because more and more previous bears couldn't wait anymore and jumped into the fray. So the newly converted bulls are very vocal and there are lesser and lesser bears left in the game 😂 The situation seems to be that there are more bears. These bears know that CEO will fall eventually. However, instead of BMW when their cars expire, they all renew/re-validate their COEs, to buy time for the COE to fall. Those who cannot support the current COE price on new cars are renewing their COEs, thereby, supporting the current COE with their parf. As a results, the COE growth falls. Also, there are more cars scrapped than the COE supply, which causes the number of cars to shrink. While we are heading into a technical recession, people will only feel the pinch after the financial year closes when the bonus / increment disappear. Given current stock market volatility, people have more cash in their bank. Also, the median age of the population is 40. So, more people are in their prime years now, who are getting higher salary (ave $8K) or annual income of $120K (15 months). With the rule of thumb of car price = one year income, ave people are able to support the current "norm". With 2 incomes, there are even more households who can support the current COE. Furthermore, the next 5 years is going to be car lite. I am a bear, who has been waiting patiently for almost a year, but have not witnessed a significant drop. The largest difference of low is Feb's $68K and Jul's $58K. This hungry bear may turn into a bull soon. . Need more encouragement to hang on. 2 Link to post Share on other sites More sharing options...
tanahteck 2nd Gear October 3, 2015 Share October 3, 2015 We have made the choice in sep , have the courage to make the choice now. As a comfort, coe will not fall significantly imo, b4 it go up next year. The situation seems to be that there are more bears. These bears know that CEO will fall eventually. However, instead of BMW when their cars expire, they all renew/re-validate their COEs, to buy time for the COE to fall. Those who cannot support the current COE price on new cars are renewing their COEs, thereby, supporting the current COE with their parf. As a results, the COE growth falls. Also, there are more cars scrapped than the COE supply, which causes the number of cars to shrink. While we are heading into a technical recession, people will only feel the pinch after the financial year closes when the bonus / increment disappear. Given current stock market volatility, people have more cash in their bank. Also, the median age of the population is 40. So, more people are in their prime years now, who are getting higher salary (ave $8K) or annual income of $120K (15 months). With the rule of thumb of car price = one year income, ave people are able to support the current "norm". With 2 incomes, there are even more households who can support the current COE. Furthermore, the next 5 years is going to be car lite. I am a bear, who has been waiting patiently for almost a year, but have not witnessed a significant drop. The largest difference of low is Feb's $68K and Jul's $58K. This hungry bear may turn into a bull soon. . Need more encouragement to hang on. Link to post Share on other sites More sharing options...
WoeiSongKeh 5th Gear October 3, 2015 Share October 3, 2015 Haha 1.88% got heng ah... I thought that's normal. The lamest one is the Citi direct car loan. Really no point that they offer 1.48% since dealers say you must use their preferred financing. I think the Citi loan is more for those buying direct 2nd hand from owners Link to post Share on other sites More sharing options...
Limwsv 5th Gear October 3, 2015 Share October 3, 2015 The situation seems to be that there are more bears. These bears know that CEO will fall eventually. However, instead of BMW when their cars expire, they all renew/re-validate their COEs, to buy time for the COE to fall. Those who cannot support the current COE price on new cars are renewing their COEs, thereby, supporting the current COE with their parf. As a results, the COE growth falls. Also, there are more cars scrapped than the COE supply, which causes the number of cars to shrink. While we are heading into a technical recession, people will only feel the pinch after the financial year closes when the bonus / increment disappear. Given current stock market volatility, people have more cash in their bank. Also, the median age of the population is 40. So, more people are in their prime years now, who are getting higher salary (ave $8K) or annual income of $120K (15 months). With the rule of thumb of car price = one year income, ave people are able to support the current "norm". With 2 incomes, there are even more households who can support the current COE. Furthermore, the next 5 years is going to be car lite. I am a bear, who has been waiting patiently for almost a year, but have not witnessed a significant drop. The largest difference of low is Feb's $68K and Jul's $58K. This hungry bear may turn into a bull soon. . Need more encouragement to hang on. Let me keep your spirit up. I see significant savings for those who have the willpower to wait it out. Link to post Share on other sites More sharing options...
Axela72 5th Gear October 3, 2015 Share October 3, 2015 (edited) Wow, every year drop 10 to 20k. Static figure tell the truth rather than just base on individual subjective bias hearsay I wonder what is the motive on those whose keep reminding that COE won't drop. With such mentality, if one that really want a car should have already gotten their car earlier at higher price because one does not believe COE will drop further Let me keep your spirit up. I see significant savings for those who have the willpower to wait it out. Edited October 3, 2015 by Axela72 Link to post Share on other sites More sharing options...
kmttan 4th Gear October 4, 2015 Share October 4, 2015 Wow, every year drop 10 to 20k. Static figure tell the truth rather than just base on individual subjective bias hearsay I wonder what is the motive on those whose keep reminding that COE won't drop. With such mentality, if one that really want a car should have already gotten their car earlier at higher price because one does not believe COE will drop further The attached chart presents the july figures. The drop is lesser as compared to Jan figures. I also believe in static figures. However, incomplete figures will mislead. Furthermore, complete figures without indicating state/policy/whatever changes will also mislead. So, what have changed since 2005? Salary? Population? Age? affluence? From the entire history of COE price movement, the low COE premium supposed to starts in 2015. But it is delayed. The reasons for the delay seems to have been discounted from the analysis. The reasons are subjective arguments, which may tell if the current point is the new low, given that prices has come down from 90K to 50K. 1 Link to post Share on other sites More sharing options...
Matrix0405 5th Gear October 4, 2015 Share October 4, 2015 I drive a 7 seater - so for most practical purposes it is -3 (legally) or minus 5 or so if they are small. And for the doubters - yes we do quite reguarly travel with 4/5 adults plus 2 or more kids During swimming lesson time I took 4 kids plus the 2 adults to weekly to class - not achievable by bus (time) or taxi (too small) .. And to add on --- Just last week I went to Ikea and bought a new sofa - which I took home in the car, I'd like to see anyone try to fit a sofa into a sonata Yes - I could have had it delivered - at some later time, when I would have needed to have been at home at some additional charge.... Again - "first world problem" - But again - this sort of usage needs to be remembered when building a transport network - to simply say - "yes there are alternatives available if you are willing to spend the money" is not a solution For 'family' and Ikea, going by car is more worth. Those are the days car is well used. But for single to get to work and park 8 -10hr is not worth /environmental frenly. Link to post Share on other sites More sharing options...
danzo 2nd Gear October 5, 2015 Share October 5, 2015 (edited) wow... jin heng, I secure at 1.88% on Tuesday. That's a very good rate... When was this offered instead of usual 2.28% I previously asked AD before? Is this offered when booking a Toyota with the free upgrade? we booked a toyota from BM about 2 weeks ago. also offered 1.88%. Forgot to ask...this rate is fixed or can they anyhowly change? lol Edited October 5, 2015 by danzo Link to post Share on other sites More sharing options...
Gumbokins 1st Gear October 5, 2015 Share October 5, 2015 That's a very good rate, tot was 2.28% usually... Is this offered when booking a Toyota with the free upgrade? I think the free upgrade promo (toyota wish) was not available when we purchased our car. The promo at that time was for the Altis with the fancy thingy...and the rate offered was also 1.88% so perhaps it's in-house. Link to post Share on other sites More sharing options...
Bioinformatics 3rd Gear October 5, 2015 Share October 5, 2015 That's a very good rate... When was this offered instead of usual 2.28% I previously asked AD before? Is this offered when booking a Toyota with the free upgrade? This year CNY when I book with BM, was given 2.28%. When ask SE about the 1.88%, he act blur about it. Luckily did not manage get the COE after 6 bids and did not top up as well. totally piss off with him. I think 1.88% exist quite a while already. 1 Link to post Share on other sites More sharing options...
WoeiSongKeh 5th Gear October 5, 2015 Share October 5, 2015 This year CNY when I book with BM, was given 2.28%. When ask SE about the 1.88%, he act blur about it. Luckily did not manage get the COE after 6 bids and did not top up as well. totally piss off with him. I think 1.88% exist quite a while already. Currently I doubt 1.88% is still available anymore. Think its now shift over to 2.28% Link to post Share on other sites More sharing options...
Darryn Turbocharged October 5, 2015 Share October 5, 2015 Based on 2.28% over 5 years what is the finance rate / effective interest rate? Currently I doubt 1.88% is still available anymore. Think its now shift over to 2.28% Link to post Share on other sites More sharing options...
WoeiSongKeh 5th Gear October 5, 2015 Share October 5, 2015 Based on 2.28% over 5 years what is the finance rate / effective interest rate? Depend on the amount you borrow i guess. You can try use this calculator to check. http://www.sgcarmart.com/services/loan_calculator.php ↡ Advertisement Link to post Share on other sites More sharing options...
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