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2015 Dec, 2nd COE Bidding Exercise

yo2020

By yo2020,
in General Car Discussion

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L23

L23

6th Gear

I dun consider this really a good deal when coe prices are supposed to drop further

 

Surprised to see this statement from you..

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Yeshe

Yeshe

Turbocharged

If ppls still can afford a 500k (2.5 time) HDB which in 10 yrs ago was 200k, what made us think that ppls cant afford a car that is 100k (2 time only) now when 10 yrs ago is 50k?

Because hdb will not be worthless after 10yrs, car will be
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Tigershark1976

Tigershark1976

Turbocharged

Think need to deduct 20% only right from your gross income since that 17% is from your employer's contribution?

 

The numbers release from Gov is gross salary, which includes of CPF contrbutions from Employee and employer, so, take home pay would be to deduct off 37% off from the gross.

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Tigershark1976

Tigershark1976

Turbocharged

Actually, I would expect that many people who were earning around 2k 10 years ago would be earning over 5k now.

 

Well, I dont know what is your defination of "many", or what makes you think that.... But I do know that you will need around 9.6% increment every year to achieve that 150% within 10 yrs. If you think that 9.6% increment is what MANY People is getting... then you could be right.

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_h_r_

_h_r_

2nd Gear

I dun consider this really a good deal when coe prices are supposed to drop further

 

It's hard to say if COE will really tank. Back in Feb just before CNY, Altis was $100K with $5K CEVS rebate and no one got the COE without topping up because COE went up. Now Altis is $101K which is really a good deal considering that CEVS rebate is $0 which means PARF increased by $2.5K.

 

If I was not driving a lao pok BMW, I would have bought the Altis at $101K. Looks really bad to downgrade from BMW to Altis in brand conscious Singapore. 

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Premacist

Premacist

5th Gear

One model drop in price and you concluded coe price down n economic conditions are gloomy? How come you think in such a naive manner?

Naive? Maybe, but yesterday's result shown the COE down again.
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Forte3737

Forte3737

5th Gear

It's hard to say if COE will really tank. Back in Feb just before CNY, Altis was $100K with $5K CEVS rebate and no one got the COE without topping up because COE went up. Now Altis is $101K which is really a good deal considering that CEVS rebate is $0 which means PARF increased by $2.5K.

 

If I was not driving a lao pok BMW, I would have bought the Altis at $101K. Looks really bad to downgrade from BMW to Altis in brand conscious Singapore.

I would say it will not go lower than 50k

Naive? Maybe, but yesterday's result shown the COE down again.

Down again. So? A car still cost more than 95k.
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Enye

Enye

Hypersonic

It's hard to say if COE will really tank. Back in Feb just before CNY, Altis was $100K with $5K CEVS rebate and no one got the COE without topping up because COE went up. Now Altis is $101K which is really a good deal considering that CEVS rebate is $0 which means PARF increased by $2.5K.

 

If I was not driving a lao pok BMW, I would have bought the Altis at $101K. Looks really bad to downgrade from BMW to Altis in brand conscious Singapore.

Well at least you are honest about the face part

 

 

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Doppel

Doppel

Turbocharged

Heard interest has gone up to 2.78% across the board.

This is front end loading interest rate, so effective interest rate is actually double: about 5.6%.
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edwin15

edwin15

4th Gear

Well, I dont know what is your defination of "many", or what makes you think that.... But I do know that you will need around 9.6% increment every year to achieve that 150% within 10 yrs. If you think that 9.6% increment is what MANY People is getting... then you could be right.

 

 

I do not have any numbers to show either way. So many is just my opinion. But the population I'm referring to is those earning 2k 10 yrs ago.

 

Typically these people will be in their early to mid 20s and maybe just graduated. In the early part of one's career wage growth tends to be pretty fast till you hit a certain level, then it slow down.

 

A 9.6% increment to someone earning 2k is only 200 increment vs 5k which is 500 increment.

 

So my point is that while many people do not get a 9.6% increment year on year averaged out for 10 yrs, it is possible that many people earning 2k 10 years ago could get a 9.6% increment year on year averaged out for 10 yrs.

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Cosmicclaw

Cosmicclaw

6th Gear

Heard interest has gone up to 2.78% across the board.

 

If previous rate was 2.28% and loan amount was $60K, the additional interest cost is only $300 per year @ 2.78%

 

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Throttle2

Throttle2

Supersonic

Maybe those 2k 10 yrs ago people already bought flats at 200k. So now sitting on 300k paper gain.

 

Huat Ah!!!

 

:XD::XD::XD::XD:

 

Paper gain is no gain until you monetize it.

 

Say you are given one house worth $1mil and it appreciates 100% everyyear but you are not allowed to monetize it. At the end of the day it remains the same house whether it is $1mil or $100mil

 

The key is to be able to monetize it.

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