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COE Bidding - 1st Round July 2019


Wolverine23
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Hypersonic

Continue being conservative and unrealistic. Sad when household earn 300k/year can’t even afford a forester.

 

If follow this guideline, I think not many cars on the road. Many not even enough demand to cover COE quota.

 

Better guideline would be 80% of household income. 100% max if want to stretch and don’t spend so much on holidays, branded bags etc. If household earn 250k/annum, driving a 200k car is not unreasonable at all.

 

30% of income per month spend on car.

 

If earn 10k a month then spend 3k a month on the car for total expenses.

 

:D

 

If earn 1 million a year then spend 500k a year on cars also ok  [thumbsup]

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Continue being conservative and unrealistic. Sad when household earn 300k/year canât even afford a forester.

 

If follow this guideline, I think not many cars on the road. Many not even enough demand to cover COE quota.

 

Better guideline would be 80% of household income. 100% max if want to stretch and donât spend so much on holidays, branded bags etc. If household earn 250k/annum, driving a 200k car is not unreasonable at all.

This is way too aggressive financially
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This is way too aggressive financially

Really too aggressive? Earn 250k per year, 20k/month, pay installment on a 200k car, only 2k/month on 50% 5 yr loan...

 

I’m surprised this considered too aggressive. Maybe good advice and reality is different.

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Wow I must be uncle scrooge.

 

Household income 300k pa and drives a sub 80k car.

Definitely under Scrooge category.

Let your family enjoy a better ride, especially if have kids.

 

Life is short, enjoy if you have the means.

 

no need to leave so many million behind for the children.

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Wow I must be uncle scrooge.

 

Household income 300k pa and drives a sub 80k car.

You busy saving for your kids to enjoy their life ?

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Wow I must be uncle scrooge.

 

Household income 300k pa and drives a sub 80k car.

Spend more on yourself uncle.
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Hypersonic
(edited)

Some people just like to stay in a nice landed, and drive a B&B car.

Some people every year must go for 2 nice holidays which come out to the annual depreciation of a car or more and also just need a B&B car.

Some people spend 100+ per pax for meals few times a month, while some eat hawker center only or eat simple food at home daily.

 

Of course, some like all 3.

Some don't like all of the above, but put all the $ in FD or in investments and count every expense.

 

To each his own lah.

 

I think we can all agree that spending more than your annual household income on a car is definitely not the wisest. Any threshold below that, it really depend on your own spending habits.

Edited by Lala81
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Supersonic

If demand is weak, dealers will cut price to attract buyers. Otherwise they will not be able to prop up the COE prices. If not, one fine day if the bidding number is not enough, prices will crash and they will have to cough up the rebates.

Dont see dealers cutting much on their car price lo. So there is still demand la.
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For big car to drive whole family around, Forester looks cheapest for the size. Or if find Forester too ugly then stretch to harrier. Harrier pricing looks quite good

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Some people just like to stay in a nice landed, and drive a B&B car.

Some people every year must go for 2 nice holidays which come out to the annual depreciation of a car or more and also just need a B&B car.

Some people spend 100+ per pax for meals few times a month, while some eat hawker center only or eat simple food at home daily.

 

Of course, some like all 3.

Some don't like all of the above, but put all the $ in FD or in investments and count every expense.

 

To each his own lah.

 

I think we can all agree that spending more than your annual household income on a car is definitely not the wisest. Any threshold below that, it really depend on your own spending habits.

 

Yes each to his own. 

 

But the most silliest would be someone who does not indulge in any "pleasures" with their hard earned money, just so that they could build a huge nest egg for their kids, who upon the old man and woman dropping dead, show no appreciation and go on a spending spree, to indulge in the very pleasures, that their old folks sacrificed. Trust me, there are many in this category.

 

"I think we can all agree that spending more than your annual household income on a car is definitely not the wisest. Any threshold below that, it really depend on your own spending habits."

 

Well if one for example earns 150k a year, has enough funds stashed away through shrewd investing over the years that would have secured one's retirement, kids grown up, approaching retirement / time running out  and decides to subscribe to the YOLO concept and goes ahead to spend 180k on a car ? Perfectly acceptable, don't you think?

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Hypersonic
(edited)

Yes each to his own.

 

But the most silliest would be someone who does not indulge in any "pleasures" with their hard earned money, just so that they could build a huge nest egg for their kids, who upon the old man and woman dropping dead, show no appreciation and go on a spending spree, to indulge in the very pleasures, that their old folks sacrificed. Trust me, there are many in this category.

 

"I think we can all agree that spending more than your annual household income on a car is definitely not the wisest. Any threshold below that, it really depend on your own spending habits."

 

Well if one for example earns 150k a year, has enough funds stashed away through shrewd investing over the years that would have secured one's retirement, kids grown up, approaching retirement / time running out and decides to subscribe to the YOLO concept and goes ahead to spend 180k on a car ? Perfectly acceptable, don't you think?

Sure. But most of us are still at the accumulating phase here. As with all rules of thumb, it may not apply to everyone. Never get too hung up on rules... Just need to understand the basic rationale and apply it to your own situation.

But interpreting black and white situation is better for youngsters heh.

Edited by Lala81
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(edited)

A lot of times this YOLO thing is used loosely that it becomes a convenient excuse of an irresponsible lifestyle. Sure anyone can meet an accident or fall ill and die suddenly at middle age. BUT BUT what is the probability of this happening vs be able to live till at least 65-70?

So should one plan base on 2-3% probability or 95% probabilty? If so many premature death, we would not need to worry about ageing population already.

 

If the 2-3% dun happen and YOLO used up $$ or no savings, people around the YOLO got to bear the burden.

 

Same principle as the gambler who argue on striking it rich on that 2-3% probability and took up a huge debt. No better, just a different form of manifestation.

Edited by Alfc
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Supersonic

A lot of times this YOLO thing is used loosely that it becomes a convenient excuse of an irresponsible lifestyle. Sure anyone can meet an accident or fall ill and die suddenly at middle age. BUT BUT what is the probability of this happening vs be able to live till at least 65-70?

So should one plan base on 2-3% probability or 95% probabilty? If so many premature death, we would not need to worry about ageing population already.

 

If the 2-3% dun happen and YOLO used up $$ or no savings, people around the YOLO got to bear the burden.

 

Same principle as the gambler who argue on striking it rich on that 2-3% probability and took up a huge debt. No better, just a different form of manifestation.

Maybe human nature tend and like to look at negative side more than positive side.

 

Like many people say eat too much outside food and unhealthy lifestyle might lead to stroke etc, but chances how high it will happen? Even though we see many people got stroke but not true that everyone would get it.

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Agreed. That's what happened to my C180. After 6 years, the up keeping cost is almost 2.5x of my Cruze. As mentioned before and talking to mechanics , if one plans to buy conti cars, whether is entry BB or high end, they know they may not keep more than 5 years. This mainly due to escalating maintenance cost. Unless one have deeper pockets.

 

On the other side, Japs and Korean make, we can still see many renewing COEs. This is a good measure on how reliable the make.

 

 

There is nothing great about conti status unless you are driving top of the range like S class, 7 series or X7. It is just so common even for merc and bmw on Singapore roads nowadays.

For those that say pay premium for jap car for reliability, I only wanna say that, imho, after owning jap, korean, italian, german cars, the argument is flaw cos the premium you for some jap brands

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That's very real, in today's context. Parents passed away, children fight for share. Very common case today.

 

But one have to strike a balance in spending. I can see many borrow heavily and ended broke.

 

 

 

Yes each to his own. 

 

But the most silliest would be someone who does not indulge in any "pleasures" with their hard earned money, just so that they could build a huge nest egg for their kids, who upon the old man and woman dropping dead, show no appreciation and go on a spending spree, to indulge in the very pleasures, that their old folks sacrificed. Trust me, there are many in this category.

 

"I think we can all agree that spending more than your annual household income on a car is definitely not the wisest. Any threshold below that, it really depend on your own spending habits."

 

Well if one for example earns 150k a year, has enough funds stashed away through shrewd investing over the years that would have secured one's retirement, kids grown up, approaching retirement / time running out  and decides to subscribe to the YOLO concept and goes ahead to spend 180k on a car ? Perfectly acceptable, don't you think?

 

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