2015 Dec, 2nd COE Bidding Exercise

[F355]

If you do the sums, the higher interest for a $60k loan over 5 years at 2.5% vs 3.0% is $1,500.

So if COE falls $1,500 in the next year when interest rate goes up 50bp, it will be no difference to buyer.

 

 

Most people here don't loan so if COE fall $1,500 they save $1,500 .

[Limwsv]

If you do the sums, the higher interest for a $60k loan over 5 years at 2.5% vs 3.0% is $1,500.

So if COE falls $1,500 in the next year when interest rate goes up 50bp, it will be no difference to buyer.

 

The sales tactic on mindset is the same per earlier this year on the CEVS rebate.

 

You are wrong in that line of thought.  There are several side-effects of lower COE has

1. Perceived cost looks lower to buyers who don't think in terms of total cost.

2. The money is shifted away from government to banks.

3. If you are cash rich, increase in loan rates has zero impact on you while a drop in the price will definitely benefit you.

4. The PARF/OMV you get back when scrapped will be less since it's pro-rated.  This will be a factor in the price offer for your car when you sell.

 

So, it's not "no differences" to buyers.  The smart ones will know that there are tons of differences in a lower car price.

[Ct3833]

I was thinking why not renew COE since the price is down trend. Moreover, the rebate of COE is transparent.

Owner will have a better prediction of the PQP.

Down side, you are still driving the Lau pork car unless do up all interior leather

 

It makes sense to renew COE if a car is in reasonable condition. because the main bulk of the car price is not COE, other components like :

1. Excise tax and GST - 27% of OMV , which translates to about more than 10K of the car price.

2. ARF - usually more than 100% of OMV, the high the OMV  the higher ARF it would be depending on the tiering.

3. dealer margin - usually 30k and above.

 

So if one will to renew COE of a existing car, the saving of the above would be easily at least a few 10s of thousands depending on the type of car. Even trow in repair and higher road tax, it is still worth the consideration.  

[Enye]

The EX-S... should be 8 seater.

with fabric front seat but leather rear seats.

That's the car in the showroom.

 

EXV-S is $161k.

 

oic...most will go for the 7 seater EXV-S

 

[yo2020]

Lastly, we should not forget another factor.. The announcement for COE quota for Feb is next month.. Surely, those who speculated the quota will rise, will wait till announcement, which will normally bring price down.. 

 

dereg figures for Oct n Nov has already announced. 

the dereg figure of Cat A & B for these 2 mths has already reached 80% of the prev quarter's Cat A & B quota, i'm v certain the coming quota will rise!

 

[Hshs]

Agreed, Altis pricelist from 107k drop to 103k now. They are giving us the sign on which direction is the COE heading for this bidding

BM is more power than LTA

[Spring]

The EX-S... should be 8 seater.

with fabric front seat but leather rear seats.

That's the car in the showroom.

 

EXV-S is $161k.

 

First time I come across car with front fabric seats and rear leather seats!

Didn't know seats also got hybrid version

[Forte3737]

Good news indeed

dereg figures for Oct n Nov has already announced. 

the dereg figure of Cat A & B for these 2 mths has already reached 80% of the prev quarter's Cat A & B quota, i'm v certain the coming quota will rise!
 

 

Your 2000 Cat A could be higher?

 

great to b bck, no place like home n i missed my car!!

projected quota updated for Feb-Apr 2016, unchanged for earlier projection for A & B!!!

 

[yo2020]

Your 2000 Cat A could be higher?

 

not really, unless there r surprises.

otherwise, i expect Cat A to b 2000 plus/minus 40.

the same for Cat B, 1200 plus/minus 40.

[Imac]

Many going oversea during school hoilday.

And even with 3 weeks interval last round.

The demand still not strong.

I predict 99% down. May also go down to year record low.

Then KC buyers will chiong and up again.

 

Cat A - $53,888

Cat B - $58,888

 

I just checked the COE Live Bidding website.

 

Only 1 more day left to ago, COE still at $1 only..     .

 

You are right, many people go overseas. No one is bidding. 

Edited December 22, 2015 by Imac

[Blueray]

I just checked the COE Live Bidding website.

 

Only 1 more day left to ago, COE still at $1 only..     .

 

You are right, many people go overseas. No one is bidding. 

 

its always $1 on Tuesdays ... nothing new ...

[Doppel]

It makes sense to renew COE if a car is in reasonable condition. because the main bulk of the car price is not COE, other components like :

1. Excise tax and GST - 27% of OMV , which translates to about more than 10K of the car price.

2. ARF - usually more than 100% of OMV, the high the OMV  the higher ARF it would be depending on the tiering.

3. dealer margin - usually 30k and above.

 

So if one will to renew COE of a existing car, the saving of the above would be easily at least a few 10s of thousands depending on the type of car. Even trow in repair and higher road tax, it is still worth the consideration.  

@Ct3833,

I totally agree with you.

 

1. Customs excise duty: 20% of OMV;

2. GST: 7% on (OMV + Customs excise duty): effective = 8.4% on OMV

3.  Multi-tiered ARF: OMV

a.  up to $20K:100%

b.  from $20K to $50K: 140%

c.  from $50K: 180%

[EricChan]

its always $1 on Tuesdays ... nothing new ...

And it stays at $1 until late afternoon thurs , half hour before bid closes at 4 pm. Edited December 22, 2015 by EricChan

[Blueray]

And it stays at $1 until late afternoon thurs , half hour before bid closes at 4 pm.

 

COE bidding closes on Wednesdays.

[F355]

COE bidding closes on Wednesdays.

 

To be more exact , the 3rd working day of the bidding week . 

 

Eg , if bidding starts Mon, and Tues is Public Holiday , it will close on Thurs .

[EricChan]

COE bidding closes on Wednesdays.

Of course it does , typo careless me. Closes 4 pm Wed not thurs , action from 330 pm

[L23]

Of course it does , typo careless me. Closes 4 pm Wed not thurs , action from 330 pm

I tot action start at 3:59:30 ?  

[fek]

small down now....big down in April onwards!!!!