How to bid COE

[Neutrino]

I bought my car 10 years ago and sold it in April and now I want to buy the Hyundai Elite or similar.

But I've got a bit confused about guaranteed COE just reading the Hyundai Elantra thread.

 

Can someone explain simply the cost of a car

 

Is it:

the cost of the car - X, plus the Actual COE - Y, plus a a fixed cost for the guaranteed COE - Z so the total cost of the car is X+Y+Z

 

I can confirm the X

 

The Y is dependent on bidding

 

The Z should be fixed

 

I then bargain with the SE about any extras???

 

But what is this tier 1, tier 2 etc etc

Edited September 28, 2016 by Neutrino

[F355]

Your question very the chim .

[therock]

I bought my car 10 years ago and sold it in April and now I want to buy the Hyundai Elite or similar.

But I've got a bit confused about guaranteed COE just reading the Hyundai Elantra thread.

 

Can someone explain simply the cost of a car

 

Is it:

the cost of the car - X, plus the Actual COE - Y, plus a a fixed cost for the guaranteed COE - Z so the total cost of the car is X+Y+Z

 

I can confirm the X

 

The Y is dependent on bidding

 

The Z should be fixed

 

I then bargain with the SE about any extras???

 

But what is this tier 1, tier 2 etc etc

The tier system is unique to Hyundai, where the amount you hand over will put you in different tiers.

i.e. you pay more, you get a higher chance of getting the COE and the car.

 

I would suggest you ask in the Elantra forum instead of the lite and EZ one... cheers

[Neutrino]

The tier system is unique to Hyundai, where the amount you hand over will put you in different tiers.

i.e. you pay more, you get a higher chance of getting the COE and the car.

 

I would suggest you ask in the Elantra forum instead of the lite and EZ one... cheers

 

Thanks so if I were to buy Toyota or other manufacturer my basic calc would apply.

[therock]

Thanks so if I were to buy Toyota or other manufacturer my basic calc would apply.

Your X+Y+Z method is a bit too simple. Each company has their way of doing the maths, so ask the sales rep to break it down on a piece of paper for you.

That makes it clear and also it's in B&W. Then ask for a copy of this breakdown, especially if it has their letterhead or the namecard of your rep.

 

For example Merc has a rather complicated overtrade system, so their reps will write it down and break down the entire amount for you. Prevents any misunderstanding... 

[therock]

There's a bunch of threads in the general discussion, and you can see how others bid for COEs. 

 

Some companies will tempt you with such guaranteed COE deals, whereas others will simply help you get the COE.

 

From recent posts, it seems Hyundai, Toyota, Subaru etc are playing this game, with low prices to entice buyers, but they only bid low amounts, and since they have you signed in for 6-8 bids, you may feel pressured to top up.

 

Other companies eg Honda, Merc, BMW etc basically bid successfully in the first or second round. YMMV.. 

[Sx4falcon]

If you are letting the dealer bid the COE for you, only 2 components

1) Cost of Car

2) COE + profit of dealer

 

1) Cost of car can derive based on OMV.

Basically, OMV + RF + ARF + Custom duty + Roadtax (usually 6 month)

Ref : https://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/owning-a-vehicle/costs-of-owning-a-vehicle/tax-structure-for-cars.html

 

2) COE + profit of dealer

This is where the dealers play around to maximize their profit. Diff dealer have diff way to get you to pay as much as you are willing.

 

 

 

If you are getting your own COE, then the dealer will max their profit. I think the dealer will just take the list price minus the COE rebate level. (guess only). Any buffer that they had put in to cater for COE increase will be fully absorbed by you already.

 

 

[BanCoe]

 

If you are letting the dealer bid the COE for you, only 2 components

1) Cost of Car

2) COE + profit of dealer

 

1) Cost of car can derive based on OMV.

Basically, OMV + RF + ARF + Custom duty + Roadtax (usually 6 month)

Ref : https://www.lta.gov.sg/content/ltaweb/en/roads-and-motoring/owning-a-vehicle/costs-of-owning-a-vehicle/tax-structure-for-cars.html

 

2) COE + profit of dealer

This is where the dealers play around to maximize their profit. Diff dealer have diff way to get you to pay as much as you are willing.

 

 

 

If you are getting your own COE, then the dealer will max their profit. I think the dealer will just take the list price minus the COE rebate level. (guess only). Any buffer that they had put in to cater for COE increase will be fully absorbed by you already.

 

Also OMV varies from month to month and shipment timing (I think so) depending on the USD ex-rate or Mfg increase/decrease price on different shipment at times

Also there is the GST component, then there is the Salesman commission/servicing costs/delivery charges/ storage/ extra's put in sometimes locally like waxing/washing  & also to lower OMV like radio/leather/carpets/tint film/antennae/some fuel/ 

Really kind of stressful for a new comer dissecting all this but for the car agents its running in their blood 24x7  

[Galantspeedz]

erm.... in short, are you asking how much discount you can ask for?

 

or you want to ask how much to pay for car..

 

for guaranteed COE.. the agreed price will be the cost of car.. all in

 

for non- guaranteed COE, you may have to top up depending based on the COE amount that AD is gonna bid for you based on agreed price

Edited September 29, 2016 by Galantspeedz

[therock]

I have a feeling TS is trying to figure where he / she can save a few dollars, either by bidding for him/herself, or just squeezing the dealer or checking out if the NG COE deals are good enough, and still successful in securing the COE.

I guess don't we all ?

 

[Wt_know]

when i see this thread, i jump in immediately

i misread the title HOW TO BEAT COE !!!! ... lol