2016 May, 1st COE Bidding Exercise

[Ivan_06]

Having to top up is bad ð

If dun want to top up, refund you the deposit lor.

[Aaron_sg7]

If dun want to top up, refund you the deposit lor.

But I thought is rather strange cos the new car rsp should factor in buffer for coe price increase , maybe by $Xk or so? So as long as coe dont go above their buffer , they likely to find a coe and give u and earn the rest of profits for new car?

[Axela72]

don't worry whether the AD earn or don't earn from you. There are plenty of willingly customer willing to pay higher than you if they didn't manage to secure your coe.

 

I'm just wondering, for those bros who bought new car on non guaranteed COE, what are the chances that after 6 bids, still unable to get COE, AD going to return the deposit and don't earn your money for the new car ? Quite unlikely right?

 

[Pocy]

But I thought is rather strange cos the new car rsp should factor in buffer for coe price increase , maybe by $Xk or so? So as long as coe dont go above their buffer , they likely to find a coe and give u and earn the rest of profits for new car?

There are many ADs/PIs and now private hire companies bidding for a fixed number of COEs each round, In business term, those give better margins will be given the COEs first. That's the advantage of non-guarantee COEs to ADs/PIs.

[Ivan_06]

don't worry whether the AD earn or don't earn from you. There are plenty of willingly customer willing to pay higher than you if they didn't manage to secure your coe.

Correct, if the AD by securing your deal can only earn a few thousands... It doesn't add up to them, they would rather secure the deals for those who are willing to pay more.

But I thought is rather strange cos the new car rsp should factor in buffer for coe price increase , maybe by $Xk or so? So as long as coe dont go above their buffer , they likely to find a coe and give u and earn the rest of profits for new car?

Your coe rebate is 30k. Komoco already bid $39+k for you... The is most like their minimum profit margin. If coe remains 40+k, you won't get unless coe comes down to around 40k within the next 5 bids. So just be mentally prepared... Either top up or forfeit and get back your deposit. If you choose the lowest tier, that's the risk you have to undertake.

[Axela72]

Agreed. I do not understand why buyer often like to determine or dictate how much the AD should earn. Do we know how much it cost to advertise their brand, to pay for overhead cost, the free servicing or extent warranty cost they throw in etc? Whose know they might also lost some when coe is higher so they will leverage when coe is low.

 

At the moment, the coe is considered low as compare to past years. Why who they oblige to lugie more when there is still taker when they raise pricelist in accordance to in the increase is coe price?

 

Your coe rebate is 30k. Komoco already bid $39+k for you... The is most like their minimum profit margin. If coe remains 40+k, you won't get unless coe comes down to around 40k within the next 5 bids. So just be mentally prepared... Either top up or forfeit and get back your deposit. If you choose the lowest tier, that's the risk you have to undertake.

 

[Jayc23]

Few bids back I insisted to top up only 1k with my AD for gtd COE after the 3rd failed bid, they accepted.

 

Now I'm going into the 6bids.

Lucky that i top up for it since the COE keep going up.

Edited May 7, 2016 by Jayc23

[Bentankh27]

"Slowing employment growth and more layoffs: MOM 0

BY SARA YONG ON APRIL 30, 2016 CURRENT AFFAIRS

In the Labour Market Advance Release report for the first quarter of 2016, the Ministry of Manpower (MOM) reported that despite total employment being 1.4 per cent higher than a year ago, more workers were laid off as compared to this time last year".

 

Those got retrench OR think Tht buying cars from Uber n the likes can make a living, bros think again. If economy no good where got extra money take cab or Uber? Moreover think of the nos of taxis , grab cars, carpooling etc...how is your chance? But u die die must pay $79 per day. I saw my colleague fell into this trap many yrs ago applying taxi license n found himself getting into more shit.

[Bentankh27]

"Slowing employment growth and more layoffs: MOM 0

BY SARA YONG ON APRIL 30, 2016 CURRENT AFFAIRS

In the Labour Market Advance Release report for the first quarter of 2016, the Ministry of Manpower (MOM) reported that despite total employment being 1.4 per cent higher than a year ago, more workers were laid off as compared to this time last year".

 

Those got retrench OR think Tht buying cars from Uber n the likes can make a living, bros think again. If economy no good where got extra money take cab or Uber? Moreover think of the nos of taxis , grab cars, carpooling etc...how is your chance? But u die die must pay $79 per day. I saw my colleague fell into this trap many yrs ago applying taxi license n found himself getting into more shit.

[Aaron_sg7]

Few bids back I insisted to top up only 1k with my AD for gtd COE after the 3rd failed bid, they accepted.

 

Now I'm going into the 6bids.

Lucky that i top up for it since the COE keep going up.

The SE contacted you to ask for topup after 3rd failed bid?

[Ivan_06]

The SE contacted you to ask for topup after 3rd failed bid?

See I told you liao.. There are such things as failed bids.. Cos your coe rebate is only at 30k. Komoco motor already bidded 39+k for you.. Unless coe drops till around 40k, you won't get your car unless you top up. Top up amount differs from various ADs

[Jayc23]

The SE contacted you to ask for topup after 3rd failed bid?

Cos after every failed bid i will ask them got top up offer anot, at 1st they ask me to top up $3k which i rejected.

 

Told them i dont mind take bck deposit after all 6 bids or top up 1k max for gtd.

[Imac]

I'm just wondering, for those bros who bought new car on non guaranteed COE, what are the chances that after 6 bids, still unable to get COE, AD going to return the deposit and don't earn your money for the new car ? Quite unlikely right?

They already use your DP for turnover.

 

After 6, or 8 bids failure, did they return the DP to you with added interest?

[Imac]

Now loan is 5 years max (if you do via proper channel), so after 5 years, car is legally yours.

 Legal implications are different.

Correct, but they never state that how many "5 Years" you can take.

 

After the "1st- 5 Years Loan ", you can always take a "2nd- 5 year Loan" to finance your car.

 

If you dont want, just surrender the car to finance company. 

 

Just like how a balloon scheme operate....

 

Pay $11k now...monthly $500-600....at the end of 5th year, pay a lump sum to buy over the car...

 

If you don't have lump sum, just take another loan to carry on driving the same car.

 

 

 

 

Edited May 8, 2016 by Imac

[Aaron_sg7]

Cos after every failed bid i will ask them got top up offer anot, at 1st they ask me to top up $3k which i rejected.

 

Told them i dont mind take bck deposit after all 6 bids or top up 1k max for gtd.

Oic

[Axela72]

That is one of the reason why some AD charge very much more than the cost price. The higher premium is also use as buffer if coe go up north on subsequent next few bids. For example If the car u purchase is based at 38k value selling price, dont expect AD to top up 12k when coe is 50k unless they are making high premium from this car. Techincally speaking, they should only oblige to bid at that current coe price which u sign the deal

 

When the new current price list is based on 12k more, If i am The AD, i would rather offer 8k discount to new pontential buyer than trying bid for u based on the past 12k cheaper price when we had signed the deal.

 

Isnt that irony? Buyer want AD to earn less premium but on the other hand expect them to secure non guarantee coe bid

Edited May 8, 2016 by Axela72

[Berlow]

That is one of the reason why some AD charge very much more than the cost price. The higher premium is also use as buffer if coe go up north on subsequent next few bids. For example If the car u purchase is based at 38k value selling price, dont expect AD to top up 12k when coe is 50k unless they are making high premium from this car. Techincally speaking, they should only oblige to bid at that current coe price which u sign the deal

 

When the new current price list is based on 12k more, If i am The AD, i would rather offer 8k discount to new pontential buyer than trying bid for u based on the past 12k cheaper price when we had signed the deal.

 

Isnt that irony? Buyer want AD to earn less premium but on the other hand expect them to secure non guarantee coe bid

I wonder how many buyers for cat b @38k did not get their cars w/o top up and got back deposit assuming all 6 bids after the 38k.Who decides how much to bid anyway? Is it by the company or the SE who may have to sacrifice their commission to close the deal?

[Ttl1976]

Agreed. I do not understand why buyer often like to determine or dictate how much the AD should earn. Do we know how much it cost to advertise their brand, to pay for overhead cost, the free servicing or extent warranty cost they throw in etc? Whose know they might also lost some when coe is higher so they will leverage when coe is low.

 

At the moment, the coe is considered low as compare to past years. Why who they oblige to lugie more when there is still taker when they raise pricelist in accordance to in the increase is coe price?

Pple expect the car to be sold to them at the cost without any profit, coe and mark up.