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2016 Apr, 2nd COE Bidding Exercise

yo2020

By yo2020,
in General Car Discussion

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Carer

Carer

2nd Gear

It's increasingly difficult to predict the trend of Coe.

 

My gut feel is that Coe will continue to trend downwards but below $30k is unlikely this year

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Carer

Carer

2nd Gear

Bid under company name in cat E. since under company, can take 80% loan.

 

I suspect uber drivers r leading the car from uber and car not under their ownership

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Matrix0405

Matrix0405

5th Gear

My guess would be individual who wants to buy car for uber driving, with only 20% down payment. 

 

http://www.straitstimes.com/singapore/transport/uber-helps-car-buyers-overcome-loan-limits

 

Nice. So Uber is into taxi, car rental and money lending business. With 800 COE, they can become PI or even fight with low volume AD (Kia, Hyundai) and get their distribution rights.

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Axela72

Axela72

5th Gear

Its jus the mindset.. like u said car model sell 116k ar 60k coe.. meaning the coe paper is costing way MORE than the car body (after uncluding arf n everything).. if coe drops to 10k coe, the total car price will drop, maybe nt much, but significantly.. meaning maybe 10k coe, total car price only 100k.. at least i am paying MORE for the car body n not the coe paper.. i mean seriously, i am buying a car... buying the parts, steering wheel, exterior , interior, everything about the car mahh...of cuz looking at car body metal n everything should worth more mahhh...when sell it off after few yrs or even 10years, the car body still worth mahh..

 

 

End of story: i am buying a car, not coe paper.. so its feasible to wait for coe to drop further more... as 10k max for coe paper is the MAX i willing to pay..i think 10k is good le.. alot ppl saying they wont pay even 2 bucks or 10bucks for coe lehh.. i'm sure u hear stuffs like tt..or ur frens who said tt...

 

Oh ya n u mentioned interest rates.. tt one no worry cuz i paying full amount if coe drops n total car prices drop significantly, no need take loan.. cuz if gonna buy, need take loan... so nvm i wait..

60k drop to 47k coe is just an example. What i am answering is to yr previous comment that even at $1 more than 10k coe, u wont bite. $10001 coe is surely cheaper than yr car price w/o the coe value
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Blackyv

Blackyv

Turbocharged

Its jus the mindset.. like u said car model sell 116k ar 60k coe.. meaning the coe paper is costing way MORE than the car body (after uncluding arf n everything).. if coe drops to 10k coe, the total car price will drop, maybe nt much, but significantly.. meaning maybe 10k coe, total car price only 100k.. at least i am paying MORE for the car body n not the coe paper.. i mean seriously, i am buying a car... buying the parts, steering wheel, exterior , interior, everything about the car mahh...of cuz looking at car body metal n everything should worth more mahhh...when sell it off after few yrs or even 10years, the car body still worth mahh..

 

 

End of story: i am buying a car, not coe paper.. so its feasible to wait for coe to drop further more... as 10k max for coe paper is the MAX i willing to pay..i think 10k is good le.. alot ppl saying they wont pay even 2 bucks or 10bucks for coe lehh.. i'm sure u hear stuffs like tt..or ur frens who said tt...

 

Oh ya n u mentioned interest rates.. tt one no worry cuz i paying full amount if coe drops n total car prices drop significantly, no need take loan.. cuz if gonna buy, need take loan... so nvm i wait..

Your assumption failed..if 46k coe drop to 10k and the same car still cost 100k, you are not paying for the body but the premium... Means agent earn darm high margin and your car with paper worth a shit... I prefer to pay 100k with 46k coe for that car then 100k with only 10k coe.... Only you are willing to think otherwise... Am I missing something here ?... Hehehhe

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Ahbengdriver

Ahbengdriver

6th Gear
(edited)

Your assumption failed..if 46k coe drop to 10k and the same car still cost 100k, you are not paying for the body but the premium... Means agent earn darm high margin and your car with paper worth a shit... I prefer to pay 100k with 46k coe for that car then 100k with only 10k coe.... Only you are willing to think otherwise... Am I missing something here ?... Hehehhe

Ya lor.  How come still got so many people dont understand.  Yes COE drop will cause some lowering of car prices but its not 1:1 movement.  Whats more important is how much is the AD selling the car at....and of cos, whether you can afford the car at that price.

Edited by Ahbengdriver
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Giordanogavin

Giordanogavin

6th Gear
[bounce2] 

Why so rigid that coe must drop exactly below 10k then can buy? coe below 10k does not equate to the car selling price drop equivalent. Not to include other aspect e.g. interest rate will increase.

 

e.g. a particular car model at 116k (60k coe) last year is selling at 113k (47k coe) now. However, the interest rate has increased. So what do you expect to gain from that? [confused]

 

This is a very good example of car price do not fall in tandem with COE price.

 

Will there be a situation where COE drop significantly but car price does not drop as much as the dealer (PI or AD) want to gain more. It is something like the oil cartel. Crude oil price drop the petrol price don't drop as much. [smash]

 

Consumer like us LL :a-bang:

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Axela72

Axela72

5th Gear
(edited)

Your assumption failed..if 46k coe drop to 10k and the same car still cost 100k, you are not paying for the body but the premium... Means agent earn darm high margin and your car with paper worth a shit... I prefer to pay 100k with 46k coe for that car then 100k with only 10k coe.... Only you are willing to think otherwise... Am I missing something here ?... Hehehhe

Precisely. That is the intent i am trying to highlight. Ppls should set target based on the car price they are willing to pay but not base on coe value. Once the car price reach the target, just go it. Why AD is mandated/obligated to drop their car price equivalent to coe drop? Pls empathize how the AD think as they are the seller , not us

 

I bet if coe is $10001 or $9990, the selling price of the car is still the same. So Fruit-tart prefer to get the lower paper value then. LoL

Edited by Axela72
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Kia7200

Kia7200

5th Gear

Uber submits 800 COE bids, changes the game for cars.

 

A gamechanger with Uber. Grab some more COEs. 20% quota?

Actually 800 is not a big quantity

 

But definitely not a good news for lower coe price.

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Audi2016

Audi2016

5th Gear

I also wondering how did Uber and Grab managed to submit their bid in CAT A and B.

 

How did they find 800 over names of individual for submission ?

 

** I remember seeing Straits Time...almost everyday you can see a ads for Uber Driver....is this how Uber does it?

Ask hirer NRIC and submit COE bidding under their name, once kana the COE....the COE will then belong to Uber Company.

 

I am curious. COE bidding submit using personal name and IC details.. in this case the hirer. How does the COE belong to UBER?

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Char

Char

5th Gear

Uber submits 800 COE bids, changes the game for cars.

 

A gamechanger with Uber. Grab some more COEs. 20% quota?

When you get from ?

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Imac

Imac

5th Gear

There goes everyone's dreams of low COE. Better kio your 40+k COE before you regret. 800 bids from Uber is more than most ADs in Singapore. 

 

https://www.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/FactsandFigures/M03-Car_Regn_by_make.pdf

 

In first 3 months of 2016, only Toyota and Honda registered more than 800 vehicles.

OMG...if Uber really come into CAT A and CAT B.

 

Small fry buyers like us would have to suck thumb and pay for higher COE. :a-SOS:

 

Isn't that consider as "Loop hole in COE system" ?

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Yeshe

Yeshe

Turbocharged

Your assumption failed..if 46k coe drop to 10k and the same car still cost 100k, you are not paying for the body but the premium... Means agent earn darm high margin and your car with paper worth a shit... I prefer to pay 100k with 46k coe for that car then 100k with only 10k coe.... Only you are willing to think otherwise... Am I missing something here ?... Hehehhe

That being said, the person that buys the car at the same price with much lower coe is kam lan. My principle very simple, if agent is not hard up for biz, I will spend my $$$$ elsewhere to more sincere agents with reasonable margins.

 

Recently the forestor interest me based on specs n performance, but becos it became too hot, the AD decides to just up price.

 

Good car nevertheless, but fark up AD. I spending my moolah elsewhere.

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