Bid COE yourself - I tried it!

[fatmond]

5 hours ago, Jamesc said:

I bid $2 for my MIL car and didn't get. 

So no chance to visit PI/AD.

The legendary $2 bids for MIL 😂😂😂

[fatmond]

2 hours ago, yishunite said:

You give me $10k deposit I bid for u 12 times NG confirm plus chop best price or money back

Just wondering has anyone did it recently, did saw some posts sharing they secured $2 coe many years back and managed to get from AD

[Ody_2004]

An analogy.. you go eat your favorite char kway teow (CKT).. u wanna save abit so you bought your eggs to let uncle cook CKT with it instead..

Will the uncle even bother?

Will the uncle reduce his CKT price by the eggs cost accordingly?

COE allow some margin for the AD/PI.. just like the egg in uncle CKT..

$2 COE will never happen again at least in my lifetime.

Edited August 13, 2020 by Ody_2004

[fatmond]

19 minutes ago, Ody_2004 said:

An analogy.. you go eat your favorite char kway teow (CKT).. u wanna save abit so you bought your eggs to let uncle cook CKT with it instead..

Will the uncle even bother?

Will the uncle reduce his CKT price by the eggs cost accordingly?

COE allow some margin for the AD/PI.. just like the egg in uncle CKT..

$2 COE will never happen again at least in my lifetime.

Just wondering has anyone successful done it recently, $2 coe example was the only information i found online

Self bidding coe has its own benefits, probably make sense for those aiming at a certain coe e.g. 27k, rather than placing 10-15k depending on PI/AD for non-guarantee bids, always feels better having the money in own pocket

From what i saw online, the car price are quite "fix", the only thing that is moving its coe price, so the only different in term of total cost savings its from COE

As for your analogy, I'm not trying to bring my own car door to the AD/PI and asking them for discount, end of the day if one is taking the same amount of loan car + coe, there's actually no lost to the AD/PI

More like i wanna da bao CKT and brought along my own container, maybe can save 30c? 😂😂😂

Edited August 13, 2020 by fatmond

[Recharging]

I would like to chime in here after some sharing from LTA hotline.

The officer shared that even for self-bidded COE, it will be the dealer (AD or PI) that will do the vehicle registration for you. A portal called R01 which is only accessible to motor traders will be used to register the vehicle, where the dealer will pay upfront the ARF, the COE as well as any other registration fees. After which, you will, through financing or otherwise, settle your bill with the dealer. There is no way around this unless you have all the technical and inspection documents (e.g. VITAS Approval) required by LTA for vehicle registration.

So....even if you dangle your self-bidded COE in front of the dealer, if he refuses to register for you without his margin, it is nothing illegal nor contractual. He will just wait until your 6month Temporary COE expire and watch you suck toes.

COE bidding is only one aspect of vehicle registration. You think LTA gives a hoot? They are just going to allow this natural monopoly to let the ultra-rich slugfest it out, while they squeeze people to pay for the MRT they built.

[Recharging]

It is in the interest of the motor traders to sell you at the highest price with the lowest bidded COE that clears the quota premium. Now that COEs have peaked in Dec 2021, this is the time where dealers strike. Charge you price from Dec 2021 while COE prices plunge. Self-bidding only works if there isn't this exemption of one single transfer for motor traders. But they are a special class of merchants in Singapore that deserve to be protected, so...

[Ingenius]

20 minutes ago, Recharging said:

I would like to chime in here after some sharing from LTA hotline.

The officer shared that even for self-bidded COE, it will be the dealer (AD or PI) that will do the vehicle registration for you. A portal called R01 which is only accessible to motor traders will be used to register the vehicle, where the dealer will pay upfront the ARF, the COE as well as any other registration fees. After which, you will, through financing or otherwise, settle your bill with the dealer. There is no way around this unless you have all the technical and inspection documents (e.g. VITAS Approval) required by LTA for vehicle registration.

So....even if you dangle your self-bidded COE in front of the dealer, if he refuses to register for you without his margin, it is nothing illegal nor contractual. He will just wait until your 6month Temporary COE expire and watch you suck toes.

COE bidding is only one aspect of vehicle registration. You think LTA gives a hoot? They are just going to allow this natural monopoly to let the ultra-rich slugfest it out, while they squeeze people to pay for the MRT they built.

You must understand that it is the dealer who sells you the car, so even if you can do the registration yourself, the price of the car is still set by the dealer, not you, which you can choose to accept or decline.  What you can do is before you self bid for COE, you have to find out, negotiate and agree with dealer the selling price without COE. If you didn't, then it is your fault for being left with a coe with a car, and being at a disadvantage when come to negotiation. 

Edited January 10, 2022 by Ingenius

[Battledome64]

11 minutes ago, Ingenius said:

You must understand that it is the dealer who sells you the car, so even if you can do the registration yourself, the price of the car is still set by the dealer, not you, which you can choose to accept or decline.  What you can do is before you self bid for COE, you have to find out, negotiate and agree with dealer the selling price without COE. If you didn't, then it is your fault for being left with a coe with a car, and being at a disadvantage when come to negotiation. 

Those dealers that priced on Sgcarmart W/O COE means you can self bid and buy from them without COE correct? 

[Sdf4786k]

Sounds like a regulatory compliance or anti monopoly rules needs to be in place.

 

Edited January 10, 2022 by Sdf4786k

[Freeder]

Most PIs are most willing to sell their stk cars.. if u r willing to neg sincerely with them.. Tried successfully before..

FFS..Pls dun chut carouhell stunt with them 😂😂

[Fitmugen]

1 hour ago, Recharging said:

I would like to chime in here after some sharing from LTA hotline.

The officer shared that even for self-bidded COE, it will be the dealer (AD or PI) that will do the vehicle registration for you. A portal called R01 which is only accessible to motor traders will be used to register the vehicle, where the dealer will pay upfront the ARF, the COE as well as any other registration fees. After which, you will, through financing or otherwise, settle your bill with the dealer. There is no way around this unless you have all the technical and inspection documents (e.g. VITAS Approval) required by LTA for vehicle registration.

So....even if you dangle your self-bidded COE in front of the dealer, if he refuses to register for you without his margin, it is nothing illegal nor contractual. He will just wait until your 6month Temporary COE expire and watch you suck toes.

COE bidding is only one aspect of vehicle registration. You think LTA gives a hoot? They are just going to allow this natural monopoly to let the ultra-rich slugfest it out, while they squeeze people to pay for the MRT they built.

Don’t say until gahmen so evil la. Quite a few ADs now price their cars without COE. So I’m quite sure you can go to them with your own COE and pay their quoted price (without COE). I have also asked a few PIs before and they are happy to sell at a fixed price without COE.

[Recharging]

@Fitmugen The government is not evil. They built us MRTs and roads, which have to be paid for with more rides. But the dealers, they have such monopolistic power by design, price finding goes beyond demand and supply.

[Recharging]

1 hour ago, Ingenius said:

You must understand that it is the dealer who sells you the car, so even if you can do the registration yourself, the price of the car is still set by the dealer, not you, which you can choose to accept or decline.  What you can do is before you self bid for COE, you have to find out, negotiate and agree with dealer the selling price without COE. If you didn't, then it is your fault for being left with a coe with a car, and being at a disadvantage when come to negotiation. 

There are many ways a dealer can price in his profit even without budging on the negotiated COE-less price. Even a pre-bid agreement is just a gentleman's agreement. No recourse.