COE Bidding – 1st Round of April 2019

[Julian1014]

I don't mean any insult so please hear me out: if you are still living with parents in their home, use the chance to save as much as possible, before your lifestyle costs throw you off course. Resist bad debt for liabilities like a car.

 

Expenses rise to meet income. If you don't save and pay yourself first, you likely to feel weighted down and anxious daily.

 

If you think only your wage will see you through life, it means that you have to be prepared to learn to be better at your job than everyone else. Be the best in your industry. Then you get the promotions and the bigger pay raises.

 

In work, if you are average, you will get below average wage. No company pays top dollar to average employees. Excellent businesses cannot be grown by average workers.

 

If you are not willing to put in effort to achieve success, then you'll need a lifetime of patience to endure failure.

Thanks for your advice, in general i believe you mistaking me when we discuss about debts. Maybe i did not explain it clearly, i apologize.

 

Car debt is definitely not a good debt, it is luxury. Good debts are money you borrow inorder to be in business for earning. I am already into investment, so i will not have any issues with emergency funds, i just do not believe in stocks. I took a car loan of 50k at 2.28% but i have 70k in OCBC salary credit account earning 2%.the offset is .28% loss, to make up for the fluidity. I can also full pay and lose 2k to bank due to the rebate.

 

I live in my own 5-rm HDB with my wife, fully finance with our CPF(without paying cash).

 

Lastly, we are here to discuss, not here for ppl to tell us save money not buy car. Thanks!

[Jamesc]

How to bid low... Tot bidding is mostly done by AD...

 

It was a tongue in cheek comment.

 

 

COE goes down when people don't buy cars

 

COE can never go down when many people buy cars

 

or renew their COE.

[Julian1014]

You are the norm, rather than the exception. Nowadays, many people are heavily hedged. As someone told me âWhy use your own money when you can use other peopleâs money (loan)â. I drive a broken down renewed COE car but many younger than me drive a Mercedes C Class, Audi A4, BMW 3 series on 10 year loan â and it makes whole lot of difference on how people perceive you based on the car you drive.

 

And because people look highly upon you, your social life improves. So long as you are happy and your expenditure is within your comfort zone and you know what you are doing, JUST DO IT. You live only once.

Please google why debt free is no good. Below is what i paste from other link, ofcourse i learn them when i study economics 101. Thanks!

 

"I believe Rich Dad/Poor Dad Robert Kiyosaki has said it best, “There is good and bad debt and being debt free is more risky than having good debt.”.  Now before you go off on my recommendation of Robert and his questionable background, I believe his statement is sound and correct."

[Privacy]

Properties, stock gurus... Please go to other threads pls

[Camrycamry]

Based on all these discussions, carshow, e weeks bidding break, coe renewals, ... not surprise if cat-a hit 40k this coming bidding. Next quarter aug-oct quota sure reduce again.

[Seya]

My turn to decide if I should renew 32mths ahead.

unless you very much love your own car, you always can recover your unused 32mth COE by doing the following.

Scrap your car and buy the same car model with new 10 year COE.

Edited April 26, 2019 by Seya

[Johnson28]

My turn to decide if I should renew 32mths ahead.

 

this one very tough to decide. your COE is in $50k region. 1 year $5k, 3 year $15k, sacrifice $15k unused coe

really need to calculate carefully.

A) are you going to drive another 10yrs?

b) what's your expectation of coe in 3 years

c) what do you intend to do if price is too high 3 years later

d) car condition

[awhtc]

My turn to decide if I should renew 32mths ahead.

With COE expiring in 2021, it is likely to coincide with the low COE quota. The actual COE price is an unknown.

 

From historical data, the COE price doubled when the quota dropped by half over 3 years. My guess is around $60k for Cat A and $70k for Cat B by then.

 

I suggest to work with a more conservative $40k COE in 2021 to see if it is more worthwhile to renew COE now or scrap and get a new car now.

 

Alternatively, you can hold until 2021 and switch to Grab. Cars are really expensive to lease from the government.

[sake]

With COE expiring in 2021, it is likely to coincide with the low COE quota. The actual COE price is an unknown.

 

From historical data, the COE price doubled when the quota dropped by half over 3 years. My guess is around $60k for Cat A and $70k for Cat B by then.

 

I suggest to work with a more conservative $40k COE in 2021 to see if it is more worthwhile to renew COE now or scrap and get a new car now.

 

Alternatively, you can hold until 2021 and switch to Grab. Cars are really expensive to lease from the government.

 

His car is a rare classic mercedes!

 

Collectable and therefore very different considerations.

Edited April 26, 2019 by sake

[Mkl22]

this one very tough to decide. your COE is in $50k region. 1 year $5k, 3 year $15k, sacrifice $15k unused coe

really need to calculate carefully.

A) are you going to drive another 10yrs?

b) what's your expectation of coe in 3 years

c) what do you intend to do if price is too high 3 years later

d) car condition

a) most probably continue driving. Keep money in bank and look at the figures also cannot get enjoyment.

b) going up. My threshold is 53k coe in 12/2021. But I foresee it might be closer to 60k

c) still renew. Cannot bear to scrap it.

d) 9/10. Excellent mechanically. Just need respray in some areas.

 

Bottom line is will confirm renew. Just that to act now or wait and gamble

His car is a rare classic mercedes! collectible.

Not really a classic yet. But rare enough in sg for me to do a disservice to scrap and export it.

[Julian1014]

Below options if i have a 32 months parf vehicle.

 

1. See out the COE until last 6month and check COE pricing. Renew 5years/10years if COE is high and no financal issue.

 

2. Sell off current vehicle consignment/direct seller mode to cut lost to minimum and join the COE fight now before april 2020 quota drop to estimate 600pcs/month.

 

I dun like the idea of trade in and buy new to beat depreciation, you are double paying AD at the expense of AD inflated COE to such high price. Goverment tax is unavoidable, cut lose for coe doesn't apply in this situation and it is not an investment. When u buy at a high COE, means you really need the vehicle.

[awhtc]

a) most probably continue driving. Keep money in bank and look at the figures also cannot get enjoyment.

b) going up. My threshold is 53k coe in 12/2021. But I foresee it might be closer to 60k

c) still renew. Cannot bear to scrap it.

d) 9/10. Excellent mechanically. Just need respray in some areas.

 

Bottom line is will confirm renew. Just that to act now or wait and gamble

Not really a classic yet. But rare enough in sg for me to do a disservice to scrap and export it.

 

The parts may be very hard to get and the technicians may not have skill sets if you need to repair.

 

For COE cars, it is safety in numbers unless you have deep pocket and great patience.

[Mkl22]

The parts may be very hard to get and the technicians may not have skill sets if you need to repair.

 

For COE cars, it is safety in numbers unless you have deep pocket and great patience.

Never had any problems for parts. Old mercs are the best to keep if you need good part supply Edited April 27, 2019 by Mkl22

[Vinceng]

His car is a rare classic mercedes!

 

Collectable and therefore very different considerations.

 

Convert to classic scheme and pay just 10% of COE.

 

Can use up to 45 days a year - can drive once a week on weekends. Not too bad.

[Pool100]

I just made LTA richer by $35.4k today.

[Lotr]

I just made LTA richer by $35.4k today.

Spend more, save later?

[Lotr]

I just made LTA richer by $35.4k today.

Spend more, save later?

[facts4free]

Here's a challenge for working adults: Say you have already saved the full amount of the COE, and ready to take on the bad debt of a car.

 

Which to buy to make the yoke of bad debt tolerable? Surely it's not worth your pain to get a bread and butter basic car with no character and unmemorable, right?

 

My choices, based on engine technology quality, practicality, drive "shiokness", affordability are:

 

For FWD: VW Golf GTI, Honda Civic Type R, SEAT Leon Cupra, Hyundai i30N, Skoda Superb, Lexus ES, VW Passat wagon, maybe new MB CLA shooting brake, maybe Renault Megane RS, maybe Mini Cooper S Clubman.

 

For RWD: BMW 330, Alfa Giulia Veloce, maybe BMW 430.

 

For AWD: Audi S3, Audi A4 wagon quattro, Audi A5 quattro, maybe Subaru WRX, maybe Subaru Levorg.

 

So, reward yourself if you have made the effort to save. But don't waste your opportunity if you are going to chase prices going up.