2016 May, 1st COE Bidding Exercise

[Tinytok]

http://www.sgcarmart.com/used_cars/info.php?ID=528908&DL=2842

 

Look at this Kia Caren that expires end Apr 2017

- asking for 21.8k, say final transaction 20k

- OMV 17.5k, get back 8.75k

- Dep base on price paid - OMV, its Depreciation for 12 months = 11.25k

- so 1 month, need to pay S$938 , hope that it doesn't have any issue.

 

Now take for e.g a new Kia Caren 1.7 TDI EX, standard version

- S$112k + 7k interest for 5 yrs loan = 119k

           - assuming 56k downpayment

- OMV 23k , CEVS 5k

- Dep 1 years = S$119-(23-5)/2 = 11K

- so 1 month, need to pay S$916

 

Now, the issue will be downpayment, if friend could not afford S$56k now for downpayment can he save this amount in 1 year time?

- assuming no, then i think financially, its not wise for him to own a car.

 

Now, assuming yes, he can afford the downpayment.

Lets say COE is cheaper by 20k from today's level.

- I would say that Car price at most drop by 14k

- Same Kia caren likely to be sold at 105k

- assuming same omv , cevs

- don't forget that he bought 1 yr insurance for 14k drop, so that insurance cost him 11k or so, total price of new kia caren at 2017 = 105+11 = 116, saving of 3K (max 9K) over 10 yrs and gain kicking the can down the road for 1yr till 2027

 

will government relax financial rules of 100% loan in the next 12 months?

I doubt so, the car industry got to start folding up first, the 2nd hand dealers then PI then AD in touble...else, i don't thin it will go back to 100% loan.

 

one more thing.

- Wth HDB 4rm at 300k 10yrs ago and now 360k (20% increase), Car dealers margin no longer can be satisfy with 10-15% of total price.

 

 

 

 above my opinions, no punt intended.

 

 

 

 

 

 

 

 

 

 

 

Make sense to buy new car as deprecation is too high ... However , not everyone have the same financial back ground .

 

Edited May 1, 2016 by Tinytok

[Fruit-tart]

I am very confident that we will see cat A at 8k max ... cat b , cat e at 10k max... well, i am not trolling, i am being serious... well, everyone have their own "hopes" , "dreams", "predictions".. who knows the end results be? noone... well, tts just my confident predictions..

[Pocy]

Come Wednesday 4th May , sure got some people pop in and ask , " why today no COE bidding results ah ? " .

Why Wednesday 4 May no COE bidding results??

 

Importantly today have 4-D results.

[Tinytok]

30 mins later...

 

Got change. Huat ah !

 

47 cat A 48 Cat B

 

 

Why Wednesday 4 May no COE bidding results??

Importantly today have 4-D results.

[Pocy]

Waiting for Fruit-tart to post his super optimistic COE predictions!!!

.... HER ....

[tmsan]

When one buy a old car tahan for 1 or 2 years, i think it will just contribute to the kjs syndrome few months down the road and would just have wasted the depreciation on old car rather than using it foe the new one. 2nd car depreciation today is as good as new car not like 4 yrs back that getting a 5 yrs old car, the depreciation is at min 35% discount to new.

Not wasted when the coe drop is predicted to outweigh depreciation, small car depreciation only 2k difference betw new n old, but many still believe coe expected to drop up to 20k fr today price

[Fruit-tart]

i say will drop.. hehehehe... 10k coe is here, soon..!! yes!

[Pocy]

The sentiment is on higher COE... So as my own feeling... My dream car is further and further away from me ððð

Then go for guarantee COE for your XT. Negotiate for a satisfactory price and don't let your dream diminished.

[BenTong]

I am very confident that we will see cat A at 8k max ... cat b , cat e at 10k max... well, i am not trolling, i am being serious... well, everyone have their own "hopes" , "dreams", "predictions".. who knows the end results be? noone... well, tts just my confident predictions..

The question is when your prediction will come true. so when it will go to $10k huh?

[Ivan_06]

I am very confident that we will see cat A at 8k max ... cat b , cat e at 10k max... well, i am not trolling, i am being serious... well, everyone have their own "hopes" , "dreams", "predictions".. who knows the end results be? noone... well, tts just my confident predictions..

Hello troll. Troll yourself.

The question is when your prediction will come true. so when it will go to $10k huh?

When fruit tart becomes squashed tart. Haha..

i say will drop.. hehehehe... 10k coe is here, soon..!! yes!

Before it drops, you will drop first.. Haha..

.... HER ....

It's IT

[BenTong]

http://www.sgcarmart.com/used_cars/info.php?ID=528908&DL=2842

 

Look at this Kia Caren that expires end Apr 2017

- asking for 21.8k, say final transaction 20k

- OMV 17.5k, get back 8.75k

- Dep base on price paid - OMV, its Depreciation for 12 months = 11.25k

- so 1 month, need to pay S$938 , hope that it doesn't have any issue.

 

Now take for e.g a new Kia Caren 1.7 TDI EX, standard version

- S$112k + 7k interest for 5 yrs loan = 119k

- assuming 56k downpayment

- OMV 23k , CEVS 5k

- Dep 1 years = S$119-(23-5)/2 = 11K

- so 1 month, need to pay S$916

 

Now, the issue will be downpayment, if friend could not afford S$56k now for downpayment can he save this amount in 1 year time?

- assuming no, then i think financially, its not wise for him to own a car.

 

Now, assuming yes, he can afford the downpayment.

Lets say COE is cheaper by 20k from today's level.

- I would say that Car price at most drop by 14k

- Same Kia caren likely to be sold at 105k

- assuming same omv , cevs

- don't forget that he bought 1 yr insurance for 14k drop, so that insurance cost him 11k or so, total price of new kia caren at 2017 = 105+11 = 116, saving of 3K (max 9K) over 10 yrs and gain kicking the can down the road for 1yr till 2027

 

will government relax financial rules of 100% loan in the next 12 months?

I doubt so, the car industry got to start folding up first, the 2nd hand dealers then PI then AD in touble...else, i don't thin it will go back to 100% loan.

 

one more thing.

- Wth HDB 4rm at 300k 10yrs ago and now 360k (20% increase), Car dealers margin no longer can be satisfy with 10-15% of total price.

 

 

 

above my opinions, no punt intended.

Good point bro! The car market at the moment goes like this:

 

(1) trade in price kena Low ball coz more Coe available

(2) high second hand car price coz many cant bear the 50% down

(3) new car price - COE resilient and may even be going higher whatever the reasons maybe.

(4) more ppl are renewing CoE

(5)And then of course you have the so call uber effect.

 

Chances are for the next 7 mths COE will not wander far from current levels. Me thinks may be bounce above $50k soon.

[Blackyv]

Hello troll. Troll yourself.

When fruit tart becomes squashed tart. Haha..

Before it drops, you will drop first.. Haha..

It's IT

Well, whatever dropped, aspecially a soap, don't bend over and pick it up...lol...

[Ivan_06]

Good point bro! The car market at the moment goes like this:

 

(1) trade in price kena Low ball coz more Coe available

(2) high second hand car price coz many cant bear the 50% down

(3) new car price - COE resilient and may even be going higher whatever the reasons maybe.

(4) more ppl are renewing CoE

(5)And then of course you have the so call uber effect.

 

Chances are for the next 7 mths COE will not wander far from current levels. Me thinks may be bounce above $50k soon.

Just to share, for example myself and my brother in law... Our incomes have more than doubled since 10 years ago, that's why when our existing rides aee due for scrap, we went ahead with new rides...

[Yeshe]

I m in no position to correct u but kjs or kiasu in sg definitely exist. I know people whose ride can last for few yrs but yet decides to change mainly fearing prices of car will be too high by the time their ride expires. This one not kjs is call what? Similarly, I have a close fren whose ride just expired in jan 2016, but instead of buying a new ride, he choose to wait out to get a 2nd hand ride to last till end of the year. I call that prudent because that guy can full cash a 5er anytime if he wants to.

Lol, some anonymous boh ji kia dislike my post. U can dislike, but why need to hide, that only shows that what I say have some truth

[Spurman]

Lol, some anonymous boh ji kia dislike my post. U can dislike, but why need to hide, that only shows that what I say have some truth

Relax lar. Dislike like got tai chi meh. Can win u a new 10yrs or 1 day coe meh..

[Yeshe]

Relax lar. Dislike like got tai chi meh. Can win u a new 10yrs or 1 day coe meh..

It's not the dislike issue, it's more like why need to hide

[helloeveryone]

Just to share, for example myself and my brother in law... Our incomes have more than doubled since 10 years ago, that's why when our existing rides aee due for scrap, we went ahead with new rides...

Think we are at about same age. 10 years ago, we bought coe at 5k, 4room hdb about half the price now. The loan was cleared few years ago.. just pampered ourselves and went for new ride without a blink of an eye...

[BenTong]

It's not the dislike issue, it's more like why need to hide

We know who la. Gotta hide behind some skirt..