2015 Dec, 1st COE Bidding Exercise

[alexndrtz]

Sure?  Either bid is unsuccessful, or they didn't bid.. Which SE? Need to blacklist.. 

 

Also no update from SE.

Have to chase for update.

 

Say got bid for COE but no record of the bid when I check LTA COE site.

 

To avoid this, if AD cut price massively, and run huge promotion, be prepared to pick Guaranteed package and throw the ball back to their court.. 

 

But, mind sometimes play trick and keep speculating that "COE has gone downward trend, picking GUaranteed package is foolish".. End up as predicted by Vinceng.. 

 

There may even be a $5K or $10K decrease in prices, to “trap” buyers and lock them in for the next 3 months at unrealistically low prices (eg. Hyundai Accent @ $82K a few months back). Buyer can expect to secure COE only if COE drops below $50K. Otherwise, be prepared to top up to secure your COE, or waste the next 3 months waiting at the sidelines, unable to commit to another brand.

 

[Showster]

May I kindly remind that the lowest trough of COE prices coincided with the poorest performance of the incumbent in GE2006 and GE2011. 2011 especially so as it was a period when basic housing prices soared due to various factors. Check the quota allowed for car growth then.

 

After that period, there was a shift in gear to cope with basic needs that trigger anxiety such as HDB and medical needs, and lessening consideration for aspirational goods.

 

Acting based on aspirational goods is a 吃力不讨好 business for politicians, at least locally. The moment one such need is satisfied, another higher level need arises, and it will never end. For cars, those who got it cheaper may not necessarily appreciate it (if they don't see low fuel and parking costs accompanying), and other drivers get antagonized because they are sharing the roads with a much greater number of cars that stretch to our maximum infrastructural capacity very soon.

 

There are many possibilities to force COE prices down, but who are we (as a nation) doing it for?

 

Listening is not their forte

 

[alexndrtz]

Chevrolet cut price by $6-7k as per today pricelist... 

Spark cost you $87k, Sonic $93k, Cruze $103k... 

 

Citroen also cut by $4-5k.. C4 Picasso now $126k, down from $130k.. If you opt for Guaranteed package, the cut is even more.. Gap between guaranteed and non-guaranteed has narrowed from $5k to $3k.. AD seems to be more confident in securing COE..

 

 

Which AD will reduce price by more than 2200 dollars after yesterday result? We also interested to know

 

Edited December 10, 2015 by alexndrtz

[Pioneer]

Once you start to allow only buyers to bid, a new industries will spring up that promise to help buyers to monitor and bid to save money.

 

Very soon, it becomes like buying stocks.

 

There are people who wants to diy everything and there are people who just want to buy convinence. When you can afford a porsche or ferrari, do you really think you have time to buy your own COE?

 

I think there are more people who prefer hassle free buying. 

 

When you bid your own COE, it is akin to gamble or buying stock. Will you not top up 1 more k if you try buying 30k COE for 6 rounds? How many people can hold on to their budget if the car they are coming is already in the showroom and COE is not going down? 

 

For the dealers' side, without COE, will they keep more stock? Most likely no.

 

It is simplistic to assume that price will drop once buyer bid for their own COE.

 

A genuine drop in COE price is possible only if it is compulsory for Buyers to bid for their own COE.

Imagine if it’s your own money, wouldn’t you hesitate to place a high bid? Buyers would be more inclined to place a lower bid of say, $30K (in current market situation), and if everyone thinks alike, COE prices will be halved.

After securing their COE, buyers will head to the distributor of their choice to purchase their vehicle.

But obviously, to be politically correct & to achieve their KPIs, the relevant authorities prefer to maintain their COE cash cow.

 

Edited December 10, 2015 by Pioneer

[Cheefarn]

Once you start to allow only buyers to bid, a new industries will spring up that promise to help buyers to monitor and bid to save money.

 

Very soon, it becomes like buying stocks.

 

There are people who wants to diy everything and there are people who just want to buy convinence. When you can afford a porsche or ferrari, do you really think you have time to buy your own COE?

 

I think there are more people who prefer hassle free buying. 

 

When you bid your own COE, it is akin to gamble or buying stock. Will you not top up 1 more k if you try buying 30k COE for 6 rounds? How many people can hold on to their budget if the car they are coming is already in the showroom and COE is not going down? 

 

For the dealers' side, without COE, will they keep more stock? Most likely no.

 

It is simplistic to assume that price will drop once buyer bid for their own COE.

No how would it be? Its about time we use simple methods to solve simple problems. We are so used to gov tendacy to use super complicated methods to solve simple issues that we forgot life doesnt need to be so tough.

 

Well whatever new industries you are talking about, let them open. If you're damn rich and doesnt mind to share your Singpass password to strangers, go ahead then. Help buyers to monitor and then earn a comission from there? Sure, go ahead. It doesnt affect the overall COE $$ anyway. Bid aggressively and you will pay aggressively with cash. Its that simple.

 

Mind you I fully support today's 50% DP rule too. It should be in place plus the need to pay cash for the COE.

 

Dealers, be it ADs or PI, should concentrate on selling their cars and not be involved in the bidding procedures.

 

If the overall car prices still remain as expensive as it is today, at least we know that 70% of sinkies are damn cash rich and there's no poor people in SG as boasted by our gov

[Showster]

The thing is there are some who do not want to consider the stability of the system as long as the volatility allows some to gain from the gamble. One bidding session 30k down, next session 20k up. Like that fair?

 

For them, everything can attribute to Govt trying at all costs to benefit. 

 

If really want to gain at all costs, we would not have 50+k COEs this year from 90+k a few years ago. Why would LTA implement loan curbs and financing regulations that at least limit some people from buying and therefore prevent runaway prices?

 

 

 

Once you start to allow only buyers to bid, a new industries will spring up that promise to help buyers to monitor and bid to save money.

 

Very soon, it becomes like buying stocks.

 

There are people who wants to diy everything and there are people who just want to buy convinence. When you can afford a porsche or ferrari, do you really think you have time to buy your own COE?

 

I think there are more people who prefer hassle free buying. 

 

When you bid your own COE, it is akin to gamble or buying stock. Will you not top up 1 more k if you try buying 30k COE for 6 rounds? How many people can hold on to their budget if the car they are coming is already in the showroom and COE is not going down? 

 

For the dealers' side, without COE, will they keep more stock? Most likely no.

 

It is simplistic to assume that price will drop once buyer bid for their own COE.

 

Edited December 10, 2015 by Seohster

[Cheefarn]

The thing is there are some who do not want to consider the stability of the system as long as the volatility allows some to gain from the gamble. One bidding session 30k down, next session 20k up. Like that fair?

 

For them, everything can attribute to Govt trying at all costs to benefit. 

 

If really want to gain at all costs, we would not have 50+k COEs this year from 90+k a few years ago. Why would LTA implement loan curbs and financing regulations that at least limit some people from buying and therefore prevent runaway prices?

The loan curbs were implemented by MAS. MAS was nervous of bad debts since cars makes very poor collectoral value if the buyer default on the payments.

 

And if the banks kenna too many bad debts they may just go under. MAS is looking after the welfare of these financial instiutions, not our wallet.

[Blackyv]

Clever people will not fall for the hyundai trap. Foolish ones, maybe yes. At the end of it all, it's just a waste of customer time

Ummm.. Are you saying altis buyer are foolish??.. Don't forget who screw many buyers up many mths back but definitely not Hyundai... Hehe...

[Showster]

That's exactly what I meant when I say even when aspiration-based buyers get it cheap(er) they will not appreciate the thought processes and consideration that goes behind the policy.

 

From 90k to 50k, because MAS looks after financial institutions. Stay at 50k, because institutions greedy want more. COE at $2, because Govt earns more from petrol and parking.

 

Heads you lose, tails I win.

 

 

The loan curbs were implemented by MAS. MAS was nervous of bad debts since cars makes very poor collectoral value if the buyer default on the payments.

 

And if the banks kenna too many bad debts they may just go under. MAS is looking after the welfare of these financial instiutions, not our wallet.

 

Edited December 10, 2015 by Seohster

[Throttle2]

Aiyah, fark all the bulls**t lah.

Knnbccb, want to buy COE, use full cash to bid in full price.

In other words, want to bid $50k for COE, make sure you have the actual cash to put in the bid.

Dont have, then bid becomes void.

 

Thats the only way.

 

full cash bidding or nothing.

COE therefore to be secured by full cash only.

And no financing to be allowed.

Any company found to provide financing for COE bidding and or COE payment, will be fined 10x the COE price in question.

 

 

Thats the way to do it.

Dont wussy wussy, sissy sissy.

Want to implement policies and regulations, make sure they freaking work!

Edited December 10, 2015 by Throttle2

[Showster]

This is a good suggestion but not easy to implement unless bidder self bids.

 

It's dangerous to pass too much cash to dealers.

Aiyah, fark all the bulls**t lah.
Knnbccb, want to buy COE, use full cash to bid in full price.
In other words, want to bid $50k for COE, make sure you have the actual cash to put in the bid.
Dont have, then bid becomes void.

Thats the only way.

full cash bidding or nothing.
COE therefore to be secured by full cash only.
And no financing to be allowed.
Any company found to provide financing for COE bidding and or COE payment, will be fined 10x the COE price in question.


Thats the way to do it.
Dont wussy wussy, sissy sissy.
Want to implement policies and regulations, make sure they freaking work!

 

[Throttle2]

This is a good suggestion but not easy to implement unless bidder self bids.

 

It's dangerous to pass too much cash to dealers.

the whole idea is for buyer to bid. Why should dealer bid?

Buyer bids and bring his COE to any dealer he wants to register the car that he wants.

 

Its not difficult to implement at all.

[Showster]

Can a cash rich dealer bid for 20 COEs to keep for resale?

 

Do we allow resale of bidded COE? 

the whole idea is for buyer to bid. Why should dealer bid?
Buyer bids and bring his COE to any dealer he wants to register the car that he wants.

Its not difficult to implement at all.

 

[Cheefarn]

Can a cash rich dealer bid for 20 COEs to keep for resale?

 

Do we allow resale of bidded COE? 

Cat A and B COEs are not transferable. They can only trade open cat, which can remain as it is to satisfy those naysayers who refused to see the benefits of a full cash payment COE method

[Throttle2]

Can a cash rich dealer bid for 20 COEs to keep for resale?

 

Do we allow resale of bidded COE?

COEs to have a one month expiry and are not transferable.

If not registered, COE becomes ZERO value.

If car dealers think they are cash rich and want to test my system by hoarding COEs, be my guest.

[Cheefarn]

This is a good suggestion but not easy to implement unless bidder self bids.

 

It's dangerous to pass too much cash to dealers.

Once again, if LTA used Singapass as login credentials, its very unlikely any customer will let strangers knows their Singpass password.

[Cheefarn]

Aiyah, fark all the bulls**t lah.

Knnbccb, want to buy COE, use full cash to bid in full price.

In other words, want to bid $50k for COE, make sure you have the actual cash to put in the bid.

Dont have, then bid becomes void.

 

Thats the only way.

 

full cash bidding or nothing.

COE therefore to be secured by full cash only.

And no financing to be allowed.

Any company found to provide financing for COE bidding and or COE payment, will be fined 10x the COE price in question.

 

 

Thats the way to do it.

Dont wussy wussy, sissy sissy.

Want to implement policies and regulations, make sure they freaking work!

Well the buyers can take out a personal loan just to pay for the COE if that's what you are refering to. There is no need, and difficult to, curb this as its different for finanical instiution to find out what that money is for.. But personal loans interest rates are high, and repayment period is short and its not for everyone.

 

I also want to see just how many buyers out there can stomach a personal loan for COE PLUS the car loan at the same time.,

 

I'd say its very rare

[Blueray]

the whole idea is for buyer to bid. Why should dealer bid?

Buyer bids and bring his COE to any dealer he wants to register the car that he wants.

 

Its not difficult to implement at all.

 

saw an interview on news a year or so ago with Tuck Yew (remember him ?  )

 

he said something about public prefer car dealers to bid for COE for the convenience.

 

dunno which public he was referring to ...