2015 Dec, 1st COE Bidding Exercise

[Showster]

I agree with you that one can look at a new car versus old car versus renewed COE prices and make their wise decisions accordingly. As of now, I also think the system is more or less optimised, although new COE prices do wield a certain influence over used car prices. The whole COE system was set up to manage car numbers and prevent congestion, which is good for all. Fairness in its distribution can never be perfect.

 

There are several parallel and criss-crossing angles from various forummers who believe strongly in one side of one issue or the other. We summarise it below so that there is no miscommunication.

 

1. Whether there should be any adjustment to the existing COE scheme to help more people own new cars (most of us say no)

 

2. Whether there should be any adjustment or concessions to the existing COE scheme to help specific groups own new cars more easily than other groups

 

3. Whether all categories serve their intended purposes (Cat E COE)

 

4. Whether there should be closer regulation into the bidding process for new COE (no dealer bidding)

 

5. Whether there should be closer regulation into the framework for car financing (50 or 60% financing scheme and loan tenures)

 

6. Whether there should be adjustments to the framework for car financing (such as full cash COE etc)

 

 

 

I have said many times before .... buys whatever that is within your means, Why die die must talk about COE and new cars ? There is always the option of buying a re-sale car based on whatever budget. Just key in the amount under the used car section in sgcarmart and the list will appear.

 

Of course, a re-sale car cannot be compared to a new car .... but if there is a budget issue, those are the choices. So far, I had owned 8 cars .... the first 5 cars are all re-sale.

 

Edited December 14, 2015 by Seohster

[Spring]

Thanks for the reply. I tried but it shows the website not available. Is it that the page is only available during the COE bidding period.

 

Possibly but I'm not sure. Normally most buyers go to this page to check how much AD/PI bids for you but I don't know how long they keep the records for this. Definitely during the COE bidding period, this link can be used but if your is from previous bidding then maybe another page to go to which I'm not sure, sorry.

[Kar_lover]

Not at all, sabbie and rubberstamp seem terrible in their postings without responsibility and often arouse others into furious mood.

I read many post here and define some are real good and constructive comments even able to win over our million dollars minister brain power.

Those that says " No money don't buy, No happy don't buy, No chance don't complaint" are destructive arguments, I couldn't hold myself cool to stay within these type of childish talkings.

I will like to highlight and conclude the current COE system is an obvious flaw implementation and it simply defeating the main purpose to regulate vehicle population growth and road congestion in our small country.

Since implementation started, I already against "Open Category with Transferable" to allow new vehicle authorise dealers to manipulate and speculate COE pricing.

My personal ideas to resolve fair bidding of COE are as below :

1. One category for smaller passenger vehicles
2. One category for Luxurious passenger vehicle
3. One category for all commercial vehicles
4. One category for motorcycles
5. Only buyer are allow to register and it's non-transferable
6. LTA will announce vehicle quota in every quarterly

Well, I know is useless to think of or even to dream of in the first place the above being seriously consider by our authoritarians, because it will be a Lost & Lost situation for revenues collection.

 

Number 1 to 4 already exists, no? Cat A = small car, Cat B - luxury car, etc etc.

 

Only problem is how to definite things like small, luxury, etc. So they use engine cc to define small. But then luxury brands start to bring in 1.6L models. So in comes power limit so luxury brands bring in small engine models. Then how? As i said before, the nature of business is to evolve with the environment.

 

As for No. 5 i believe you mean only buyer allowed to *BID* for COE (not register). This has been said many many times before but it's not workable to FORCE buyer to bid themselves. How will LTA know it is the ACTUAL buyer bidding himself? I can just pass my account login particulars to the dealer to bid for me, right? And if the buyer don't mind the dealer to bid for them, why should LTA force buyer to bid themselves? It's not as if buyer is currently NOT ABLE to bid. You are free to bid yourself if you wish.  I believe you mean COE to be non-transferable - so how to sell your car if the COE is non-transferable? This also discussed many times before.

 

Number 6 i thought it's already quarterly now? Anyway i don't see how this will much difference.

I have said many times before .... buys whatever that is within your means, Why die die must talk about COE and new cars ? There is always the option of buying a re-sale car based on whatever budget. Just key in the amount under the used car section in sgcarmart and the list will appear.

 

Of course, a re-sale car cannot be compared to a new car .... but if there is a budget issue, those are the choices. So far, I had owned 8 cars .... the first 5 cars are all re-sale.

 

But problem now is the used car market is ridiculously inflated. Depreciation same as buying new car.

 

I saw a 1.5yr old A class selling at $130k when new one was $150k.

[vision3001]

Things look like moving at very very slow pace when you are kang chiong for one ......       

 

 

 

Bidding status as at 08/12/2015 09:45:43.00 hrs

 

A             CAR UP TO 1600CC & 97KW         1              1,698     12

B             CAR ABOVE 1600CC OR 97KW     1              1,031     12

C             GOODS VEHICLE & BUS                 1              241         2

D             MOTORCYCLE                                 1              355         23

E              OPEN                                                1              364         7

 

 

Calm down bro... most of the time, the show hand from most dealers occurs on the closing date.

 

You can monitor the same bidding website again at 2pm onwards on the closing date.

 

Best wishes.

[Fordred]

Right now, the COE bidders are not paying for the COE.  In fact, the higher they bid, the more they earn from interest.

I'm personally in the buyer should bid own COE camp.  

Car distributors should only sell cars.  They should not be allowed to profit from COE.

 

 

Maybe COE should be a % of OMV?  No need small or big car category as the final amount will be affected by OMV.

Buyers of luxury cars pay more, buyers of small cars pay less.

 

E.g.

COE is at 200% of OMV

Buyer A's car is 20K OMV, COE becomes 40K.

Buyer B's car is 50K OMV, COE becomes 100K.

 

 

 

 

Number 1 to 4 already exists, no? Cat A = small car, Cat B - luxury car, etc etc.

 

Only problem is how to definite things like small, luxury, etc. So they use engine cc to define small. But then luxury brands start to bring in 1.6L models. So in comes power limit so luxury brands bring in small engine models. Then how? As i said before, the nature of business is to evolve with the environment.

 

As for No. 5 i believe you mean only buyer allowed to *BID* for COE (not register). This has been said many many times before but it's not workable to FORCE buyer to bid themselves. How will LTA know it is the ACTUAL buyer bidding himself? I can just pass my account login particulars to the dealer to bid for me, right? And if the buyer don't mind the dealer to bid for them, why should LTA force buyer to bid themselves? It's not as if buyer is currently NOT ABLE to bid. You are free to bid yourself if you wish.  I believe you mean COE to be non-transferable - so how to sell your car if the COE is non-transferable? This also discussed many times before.

 

Number 6 i thought it's already quarterly now? Anyway i don't see how this will much difference.

 

But problem now is the used car market is ridiculously inflated. Depreciation same as buying new car.

 

I saw a 1.5yr old A class selling at $130k when new one was $150k.

 

[Imac]

Right now, the COE bidders are not paying for the COE.  In fact, the higher they bid, the more they earn from interest.

I'm personally in the buyer should bid own COE camp.  

Car distributors should only sell cars.  They should not be allowed to profit from COE.

 

 

Maybe COE should be a % of OMV?  No need small or big car category as the final amount will be affected by OMV.

Buyers of luxury cars pay more, buyers of small cars pay less.

 

E.g.

COE is at 200% of OMV

Buyer A's car is 20K OMV, COE becomes 40K.

Buyer B's car is 50K OMV, COE becomes 100K.

Er...thats mean I have to decide what car I want to buy before bidding?

 

That also mean the car have to be in Sg to determine the exact OMV.

 

COE bidding make until so complicated, no wonder buyer just let the AD take care of everything.

Edited December 14, 2015 by Imac

[Showster]

If I buy a QQ? 

 

OMV maybe a few K only.

Right now, the COE bidders are not paying for the COE.  In fact, the higher they bid, the more they earn from interest.

I'm personally in the buyer should bid own COE camp.  

Car distributors should only sell cars.  They should not be allowed to profit from COE.

 

 

Maybe COE should be a % of OMV?  No need small or big car category as the final amount will be affected by OMV.

Buyers of luxury cars pay more, buyers of small cars pay less.

 

E.g.

COE is at 200% of OMV

Buyer A's car is 20K OMV, COE becomes 40K.

Buyer B's car is 50K OMV, COE becomes 100K.

 

[Civic6228]

I agree with you that one can look at a new car versus old car versus renewed COE prices and make their wise decisions accordingly. As of now, I also think the system is more or less optimised, although new COE prices do wield a certain influence over used car prices. The whole COE system was set up to manage car numbers and prevent congestion, which is good for all. Fairness in its distribution can never be perfect.

 

There are several parallel and criss-crossing angles from various forummers who believe strongly in one side of one issue or the other. We summarise it below so that there is no miscommunication.

 

1. Whether there should be any adjustment to the existing COE scheme to help more people own new cars (most of us say no)

 

2. Whether there should be any adjustment or concessions to the existing COE scheme to help specific groups own new cars more easily than other groups

 

3. Whether all categories serve their intended purposes (Cat E COE)

 

4. Whether there should be closer regulation into the bidding process for new COE (no dealer bidding)

 

5. Whether there should be closer regulation into the framework for car financing (50 or 60% financing scheme and loan tenures)

 

6. Whether there should be adjustments to the framework for car financing (such as full cash COE etc)

 

If I can afford to buy a brand new car with the current COE prices  .... I just go ahead and buy it .... period. There is no other considerations.

 

Why do I bother that my neighbour next door has 5 kids and so call need a car ... Or the other neigbbour that is buying another new car when he hardly drive his lambo or SLS ...

 

[flashbang]

Look at it from this angle: we are living in $ingapore.

 

Hence, there is absolutely no problem with the current COE system. It works. 

 

Don't count on the government to help you unless you are totally down in the dumps. Work hard and earn money to keep you and your family going in spite of the changing circumstances. Hard truths. Don't forget the saying, "In $ingapore, can afford to die but cannot afford to fall sick".

[Showster]

Sometimes the Govt does step in if it is deemed to improve social welfare. In areas such as housing or medical, the system might be tweaked to enable access. 

 

But for cars, my opinion is the same as yours. No need to loosen or tighten anything if everything works fine. It is not a necessity for most people under most conditions. The proposals to tighten have so far been made by other forummers. 

 

 

 

If I can afford to buy a brand new car with the current COE prices  .... I just go ahead and buy it .... period. There is no other considerations.

 

Why do I bother that my neighbour next door has 5 kids and so call need a car ... Or the other neigbbour that is buying another new car when he hardly drive his lambo or SLS ...

 

[SalimTan]

Not at all, sabbie and rubberstamp seem terrible in their postings without responsibility and often arouse others into furious mood.

I read many post here and define some are real good and constructive comments even able to win over our million dollars minister brain power.

Those that says " No money don't buy, No happy don't buy, No chance don't complaint" are destructive arguments, I couldn't hold myself cool to stay within these type of childish talkings.

I will like to highlight and conclude the current COE system is an obvious flaw implementation and it simply defeating the main purpose to regulate vehicle population growth and road congestion in our small country.

Since implementation started, I already against "Open Category with Transferable" to allow new vehicle authorise dealers to manipulate and speculate COE pricing.

My personal ideas to resolve fair bidding of COE are as below :

1. One category for smaller passenger vehicles
2. One category for Luxurious passenger vehicle
3. One category for all commercial vehicles
4. One category for motorcycles
5. Only buyer are allow to register and it's non-transferable
6. LTA will announce vehicle quota in every quarterly

Well, I know is useless to think of or even to dream of in the first place the above being seriously consider by our authoritarians, because it will be a Lost & Lost situation for revenues collection.

 

There are many who agree with your personal ideas. Seems very obvious how a simple and transparent system should be. Car ownership has been an expensive and complicated mess.

No, they will not do anything because they have an excuse "no matter how we tune COE, people are not happy".

[Showster]

There are many who agree with your personal ideas. Seems very obvious how a simple and transparent system should be. Car ownership has been an expensive and complicated mess.

No, they will not do anything because they have an excuse "no matter how we tune COE, people are not happy".

Non transferable is next to impossible to implement if there is loan involved.

 

If one can't service his loan midway through tenure?

 

Then do you support no loan allowed for COE bidding and car ownership? If COE is $2, owning a car without loans will be in the tune of 40k onwards without loan.

 

Then if the few years into ownership you need to sell? Sell back to LTA for resale back into market? LTA has to set up a few departments just to deal with this.

[alexndrtz]

Alternatively, you can login to one-motoring, and check under "My Asset".. If AD has successfully bid COE for you, you can see the COE under "My Asset".. It will stay there, until it is used for new vehicle registration. 

 

If you don't see it, then most likely the bid was not successful.. 

 

This method, though, you cannot check how much AD bid for you, you can see only the QP..

 

Possibly but I'm not sure. Normally most buyers go to this page to check how much AD/PI bids for you but I don't know how long they keep the records for this. Definitely during the COE bidding period, this link can be used but if your is from previous bidding then maybe another page to go to which I'm not sure, sorry.

 

Thanks for the reply. I tried but it shows the website not available. Is it that the page is only available during the COE bidding period.

 

[Spring]

Alternatively, you can login to one-motoring, and check under "My Asset".. If AD has successfully bid COE for you, you can see the COE under "My Asset".. It will stay there, until it is used for new vehicle registration. 

 

If you don't see it, then most likely the bid was not successful.. 

 

This method, though, you cannot check how much AD bid for you, you can see only the QP..

 

 

 

OK thanks bro, think you are right, remember keying into this page before to check new car information, cheers!!

[Alpha78]

Non transferable is next to impossible to implement if there is loan involved.

 

If one can't service his loan midway through tenure?

 

Then do you support no loan allowed for COE bidding and car ownership? If COE is $2, owning a car without loans will be in the tune of 40k onwards without loan.

 

Then if the few years into ownership you need to sell? Sell back to LTA for resale back into market? LTA has to set up a few departments just to deal with this.

I think he means Cat E COE should not be transferable to another person before the car is registered. Once the car is registered, any sale would transfer the entire car with COE to the next owner.

[Chucky2007]

For the first 6 years of working life, didn't buy car..saved enough then buy house.

 

Bought first car after working for 8 years and then car was cheap.. 53k and main reason is wife office is 30km away and no mrt nearby.

 

If it's current day 100k above, would have bouht it 10-12 years.

 

I grew up in a family that's quite ok financially, but family here in Singapore don't have car bec grandparents who took care of me can't drive, so me and them took bus from young till late 20s and seldom take cab.

 

If I find it a strain financially, my 2 kids would be taking bus, mrt, or maximum taxi with me.

 

All these things about fairness on COE and whatever to me is rubbish bec if u can afford it, buy it. Cannot afford and still wanna borrow and buy, it's individual choice but don't complain

 

Anyway I bought my cars, houses with all my own work salary savings.. live within means la. What is fairness?? Think twice about your children's education fund, your own retirement funds first before spending on items that expire in 10 years.

[Desireme]

Alternatively, you can login to one-motoring, and check under "My Asset".. If AD has successfully bid COE for you, you can see the COE under "My Asset".. It will stay there, until it is used for new vehicle registration. 

 

If you don't see it, then most likely the bid was not successful.. 

 

This method, though, you cannot check how much AD bid for you, you can see only the QP..

 

 

Thanks Alex..

[Throttle2]

For the first 6 years of working life, didn't buy car..saved enough then buy house.

 

Bought first car after working for 8 years and then car was cheap.. 53k and main reason is wife office is 30km away and no mrt nearby.

 

If it's current day 100k above, would have bouht it 10-12 years.

 

I grew up in a family that's quite ok financially, but family here in Singapore don't have car bec grandparents who took care of me can't drive, so me and them took bus from young till late 20s and seldom take cab.

 

If I find it a strain financially, my 2 kids would be taking bus, mrt, or maximum taxi with me.

 

All these things about fairness on COE and whatever to me is rubbish bec if u can afford it, buy it. Cannot afford and still wanna borrow and buy, it's individual choice but don't complain

 

Anyway I bought my cars, houses with all my own work salary savings.. live within means la. What is fairness?? Think twice about your children's education fund, your own retirement funds first before spending on items that expire in 10 years.