COE bidding 18 May 2016

[Heng]

I don't understand why most here only see the COE up one way after the 'relaxation announcement'

 

I wish they would see Para 6.  which stated that previously Uber, Grab, Parallel Importers, Used Car Dearlers and ALL OTHERS, inspite of the Loan Restrictions, were able to extend up to 100% (leasing)  financing, Now all got to comply by the revised rules.

 

What this means is, there will be less Harriers and Vezels which constituted almost 30% of the market.  Also, Uber, Grab and any Pte-sharing company cannot just leased their cars with 0% downpayment.  Now all leasers in the market will have to put up 30 - 40% downpayment.  So Uber and Grab will buy very little COEs.  Parallel Importers and ALL Others will now sell less cars.

 

In the end, though more can buy through AD, less can buy through ALL the Alternative means,  It's balancing overall ya!

But because of current bad economy and without Uber Big buys interference, maybe after this panic round, COE will go down again.

 

[Wester86]

I suspect uber got insider info about the MAS new rules. Thata why they bid 800 coes during latest bidding exercise to fulfill their current needs

[Ct3833]

I suspect uber got insider info about the MAS new rules. Thata why they bid 800 coes during latest bidding exercise to fulfill their current needs

Why need to suspect, some opertors had started budding coe before the legalisation was announced.

[bronzy]

I suspect uber got insider info about the MAS new rules. Thata why they bid 800 coes during latest bidding exercise to fulfill their current needs

other rental companies who are planning to increase fleet size but haven't cham liao

[Axela72]

All the bear keep saying coe will keep coming down to 10k this year w/o gov intervention. See what happen? I still remember some bears mentioned before that not many ppls like last time can buy car easily due to the min 50% downpayment. What happen now is can loan up to 70% till 7 yrs.  

 

Nevertheless, the bear will still cook up their "reason" that coe will still go down to 10k 

 

 

will we be seeing 90K COE again?

 

[Chrispie]

All the bear keep saying coe will keep coming down to 10k this year w/o gov intervention. See what happen? I still remember some bears mentioned before that not many ppls like last time can buy car easily due to the min 50% downpayment. What happen now is can loan up to 70% till 7 yrs.

 

Nevertheless, the bear will still cook up their "reason" that coe will still go down to 10k

One reason could be that our public transport system became so good that everyone gave up cars and scrap. So coe all back onto the pool and no one bid because cars become an obsolete thing in sg.

[Kia7200]

Every bidding got est 4000nos. Of car must be cleared.

Every month got 8000nos +- for the next 1yr plus in such bad economic, and I wonder what is the reason for the coe price to go up.

[Pocy]

10 years ago, there were such equivalent amount of cars bought and on road. Why you think no similar demand again now?

[GohLaiChye]

I don't understand why most here only see the COE up one way after the 'relaxation announcement'

 

I wish they would see Para 6.  which stated that previously Uber, Grab, Parallel Importers, Used Car Dearlers and ALL OTHERS, inspite of the Loan Restrictions, were able to extend up to 100% (leasing)  financing, Now all got to comply by the revised rules.

 

What this means is, there will be less Harriers and Vezels which constituted almost 30% of the market.  Also, Uber, Grab and any Pte-sharing company cannot just leased their cars with 0% downpayment.  Now all leasers in the market will have to put up 30 - 40% downpayment.  So Uber and Grab will buy very little COEs.  Parallel Importers and ALL Others will now sell less cars.

 

In the end, though more can buy through AD, less can buy through ALL the Alternative means,  It's balancing overall ya!

But because of current bad economy and without Uber Big buys interference, maybe after this panic round, COE will go down again.

Hi Brother, you are very sharp to see that clause. I think this is the reason why Uber rush in the buy their 1800 car last few bids, maybe they have inside news that the MAS is going to do something, just my view, haha

[Kia7200]

10 years ago, there were such equivalent amount of cars bought and on road. Why you think no similar demand again now?

10yrs ago, 1 can buy a brand new cars @$35k with $1 deposit n 10yrs loan. Anyone earning $2k plus pm can afford rite?

 

Now even with the new mas regulation

1 new car cost min $80k, deposit $24k and stretch 7yrs also need to pay $800pm. Do u think there will be a similar demand?

 

Yes, the population has increased but predict the coe price to increase is like telling me all those car owners who bought cars 10yrs ago are still alive, still living in sg and can afford to own cars again and willing to pay even higher coe ($47k++) sure there r diff. U can look at the previous record comparing now, the numbers of ppl bidding r lesser

Edited May 27, 2016 by Kia7200

[Runforyourlife]

COE sure rise one. Vezels and Harriers are not gonna be affected as the balloon scheme is always available via PIs :)

[Heman75]

All the bear keep saying coe will keep coming down to 10k this year w/o gov intervention. See what happen? I still remember some bears mentioned before that not many ppls like last time can buy car easily due to the min 50% downpayment. What happen now is can loan up to 70% till 7 yrs.  

 

Nevertheless, the bear will still cook up their "reason" that coe will still go down to 10k 

All the bears went hiding now..

[Pocy]

10yrs ago, 1 can buy a brand new cars @$35k with $1 deposit n 10yrs loan. Anyone earning $2k plus pm can afford rite?

 

Now even with the new mas regulation

1 new car cost min $80k, deposit $24k and stretch 7yrs also need to pay $800pm. Do u think there will be a similar demand?

 

Yes, the population has increased but predict the coe price to increase is like telling me all those car owners who bought cars 10yrs ago are still alive, still living in sg and can afford to own cars again and willing to pay even higher coe ($47k++) sure there r diff. U can look at the previous record comparing now, the numbers of ppl bidding r lesser

I don't have data but I am one who bought 10 years ago. I believe there are many ppl also bought 10 years ago who bought new rides again in recent years and this year. There are new entries, new immigrants, PRs and FTs. These are ppl with even stronger buying power, eg. my nephew bought his 1st ride - a new BMW. Generally, ppl become more affluent and there are still ppl find the prices hard to afford. Overall, I think a good demand is still there. SG is always about financing and the easing on car loan should generate more demand. I hope to see cheaper COE as a consumer.

[bronzy]

any updates on car prices revision? should hoot now?

[G1234]

Nothing to be happy about. It just means market is really bad. After the car, maybe gahmen will relax the housing policies too. 

[Mustank]

Nothing to be happy about. It just means market is really bad. After the car, maybe gahmen will relax the housing policies too. 

 

next bidding, COE: $88,888

 

then people will say:

recession? you got to be joking

[BenTong]

10yrs ago, 1 can buy a brand new cars @$35k with $1 deposit n 10yrs loan. Anyone earning $2k plus pm can afford rite?

 

Now even with the new mas regulation

1 new car cost min $80k, deposit $24k and stretch 7yrs also need to pay $800pm. Do u think there will be a similar demand?

 

Yes, the population has increased but predict the coe price to increase is like telling me all those car owners who bought cars 10yrs ago are still alive, still living in sg and can afford to own cars again and willing to pay even higher coe ($47k++) sure there r diff. U can look at the previous record comparing now, the numbers of ppl bidding r lesser

Last time ppl pay $1 downpayment now quite many ppl pay cash. every month close to 4,000 ppl fork out $50K mimimum in cash. Some even pay $100K cash..

 

the next 6 months will be interesting... a tussle between the bears and the desperate. at the end the AD n ah gong will win

[Axela72]

Every bidding got est 4000nos. Of car must be cleared.

Every month got 8000nos +- for the next 1yr plus in such bad economic, and I wonder what is the reason for the coe price to go up.

Isnt that common sense?

 

Let us educate u then. Where do the 4k or 8k coe come from? It come from the recycle of current owners that scrap their cars. So while scrapping their ride, u expect them to quit driving to made way for u to buy at cheaper rate (aka due to more quota?)? In that case, will u do the same? If u dont, cant expect others will, right?

 

Talking about bad economic again, if bad economic made ppls cant buy, so why worry as u also cant buy. If u can, why others cant?

Edited May 27, 2016 by Axela72