Govt paying $3500 for old motorcyles

[Coldstar]

https://www.channelnewsasia.com/news/singapore/owners-of-older-motorcycles-will-get-up-to-s-3-500-for-de-10110120

 

I am not sure if I am reading this wrong, but this means that you can ride your lao kok kok bike until 20 years and still get $3500 back, which would be impossible if you sell or scrap!!!

 

Resale values of old bikes with <5 years left on their 2nd COE are going to increase significantly liao, taking into account the $3500 you can get back at the end of COE.

 

Honestly I am cursing now becos I just sold my 16+ year old CB400...dammit.

[Sotong1977]

Quoted from the report

 

Masagos Zulkifli told reporters at a media session on Friday (Apr 6) that he expects the incentive to have an initial impact on COE prices

 

It also meant those who sell their bikes faced higher prices when buying new/old bikes due to pressure from higher COE

[Leo72]

https://www.channelnewsasia.com/news/singapore/owners-of-older-motorcycles-will-get-up-to-s-3-500-for-de-10110120

 

I am not sure if I am reading this wrong, but this means that you can ride your lao kok kok bike until 20 years and still get $3500 back, which would be impossible if you sell or scrap!!!

 

Resale values of old bikes with <5 years left on their 2nd COE are going to increase significantly liao, taking into account the $3500 you can get back at the end of COE.

 

Honestly I am cursing now becos I just sold my 16+ year old CB400...dammit.

If your old bike still got balance of 3 yrs+ COE, you can ride for another 3 years and get back S$3500 when you scrap.

 

Guess you just sold it for below S$3500? Then must really curse but before you curse, think who you voted for in GE2015 as if you belong to the 70%, you're also cursing yourself hor... Because those 70% put those people into power.

[Mockngbrd]

Wah more body value than car haha

[DACH]

Deduct today's COE prices, still have to pay about 4k COE.

[Octopus]

Maybe they might extend this programme to cars which are approaching 20 years or older?

[Benarsenal]

They want you to sell and not buy another bike. Notice there is nothing about rebate to buy new bike.

 

Get ready to BMW. Bus MRT Walk. Now even motorbikes not allowed.

[Mustank]

Sell this for $3500?

[Chongster]

V interesting actually. Usu the govt “encourage” the behavior it wants by Taking money from the people, not giving money to them. Eg. a $3500 penalty to renew coe would be more in line, , rather than $3500 to you not to renew...

[DACH]

They want you to sell and not buy another bike. Notice there is nothing about rebate to buy new bike.

 

Get ready to BMW. Bus MRT Walk. Now even motorbikes not allowed.

 

Just use the payout as a rebate.

[Galantspeedz]

If your old bike still got balance of 3 yrs+ COE, you can ride for another 3 years and get back S$3500 when you scrap.

 

Guess you just sold it for below S$3500? Then must really curse but before you curse, think who you voted for in GE2015 as if you belong to the 70%, you're also cursing yourself hor... Because those 70% put those people into power.

Ya blame the 70% for govt give money

Or should thank the 30% instead?

[Watwheels]

Aiya, If you look at those Lao ah pek bikes I think it’s better they use the 3.5K to get a electric scooter to get around instead...via park connectors of course. No need to pay for parking. Running it doesn’t require expensive petrol and insurance. If the authorities later want them to register their scooters it’s not a big issue.

[Evillusion]

V interesting actually. Usu the govt “encourage” the behavior it wants by Taking money from the people, not giving money to them. Eg. a $3500 penalty to renew coe would be more in line, , rather than $3500 to you not to renew...

enticing riders to scrap their old bikes.....but still need to pay for new coe when buying a new ones......give you $3500 but you need to fork out another $4500 for a new coe...... Edited April 7, 2018 by Eviilusion

[Chongster]

is the additional bike coes going into the pool?  do bike coes only go into bike pool?

[Benarsenal]

Just use the payout as a rebate.

 

Not even enough to pay half of bike COE now.

[kdash]

time to hoard old bike liao...

[DACH]

Not even enough to pay half of bike COE now.

 

Well, at least can lessen the burden.

[Volvobrick]

If really want to improve the environment, start turning back those thousands of polluting 2-stroke Malaysian bikes and worst of all, old diesel trucks at the causeway and 2nd link tomorrow.