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COE Bidding – 1st Round of August 2019

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Looks like the impact on the reduce coe quota really huge! Can drive the Cat A coe back to 30k or even 40k level!

Electio is around the corner, LTA wont want to screw the votes, but let's wait till election is over, we shall see if they will bring in taxi companies to help push up COE price or not.
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honestly, if I were to buy car's brand like jaguar, volvo, bmw, merc, bmw. I would not bother too much about coe bidding unless coe suddenly shot up $20k-$30k. I am pretty sure these AD will finally close the deal.

But the question is how long they will make me wait. If coe continue to go up, it also mean they will not bid at all and my deposit is always stuck with them
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But the question is how long they will make me wait. If coe continue to go up, it also mean they will not bid at all and my deposit is always stuck with them

 

Premium makes has gotten a big margin from you already so worst case (at the end of 4 bids as contracted), they probably give you a open CAT end of day. I suppose you sign the contract knowing it is for the duration of 4 bids.

 

You can give your inputs here if otherwise. Would be an interesting case that I hardly heard of.

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But the question is how long they will make me wait. If coe continue to go up, it also mean they will not bid at all and my deposit is always stuck with them

Only stuck with them for 4 bids, about 2 months la. After which either they return you your deposit or offer you an open Cat, or even worst case ask you to top up.

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4-6 bid to allow them AD to play with their profit.. spend so much time and effort trying to profit more from coe instead of selling their car.... this is Singapore! Haha

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Only stuck with them for 4 bids, about 2 months la. After which either they return you your deposit or offer you an open Cat, or even worst case ask you to top up.

Depends whether they diligently bid for every rd. Haha.
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Depends whether they diligently bid for every rd. Haha.

If they counted every bid even though they did not bid, still not so bad. Just tie by them for 2 months.

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Posted (edited)

the PI did not state the approx delivery date, is this means they can play until whenever they want, regardless 1 bid guaranteed COE?

Edited by sp1d3rMan77
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Yo bro, i kanna this with jaguar from wearnes. Any other bros can help out? I sign an agreement with jaguar from wearnes on 30th july with 4 ng bids and can back out if coe is not secured within 4 ng bids. On the actual day of bidding, Agent gave me excuse and tell me car loan haven approve, so they cant bid this rd coe. However, i receive a phone call from the bank on 7th aug to verify for car loan application and they mention to me that the application is only sent today. So i smell some deliberation of not bidding from the agent. Any advice on what i should do? Are they allowed to skip all coe bidding and only bid coe when coe is lower?

My guess is that the SE was busy and may have overlooked. Should not be an deliberate delay. They earn about 30% profit (50k?) from your car, no need to chut pattern to save a few k
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My guess is that the SE was busy and may have overlooked. Should not be an deliberate delay. They earn about 30% profit (50k?) from your car, no need to chut pattern to save a few k

I hope so. Cos i cant interpret how much can they earn from deliberation.

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I hope so. Cos i cant interpret how much can they earn from deliberation.

Go to lta website and look for car costs. From there you will know how much you have overpaid for your car.
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Posted (edited)

the PI did not state the approx delivery date, is this means they can play until whenever they want, regardless 1 bid guaranteed COE?

If they didn’t commit to a delivery date, technically yes because all you can harp on is where is your COE. They could have gotten your COE and still deliver your car 5 months later.

 

Don’t understand why didn’t get a delivery date in the first place.

 

And btw, you said since you’re buying Cat A so you don’t think that they will “spend that extra” on you. It’s not about spending extra - contractually they are supposed to do it.

Edited by subzero17
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If they didn’t commit to a delivery date, technically yes because all you can harp on is where is your COE. They could have gotten your COE and still deliver your car 5 months later.

 

Don’t understand why didn’t get a delivery date in the first place.

 

And btw, you said since you’re buying Cat A so you don’t think that they will “spend that extra” on you. It’s not about spending extra - contractually they are supposed to do it.

They can't commit a delivery date due to not sure when will LTA approve OMV.

 

from what i understand, all COE bidded by them all failed. even open cat also.

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They can't commit a delivery date due to not sure when will LTA approve OMV.

 

from what i understand, all COE bidded by them all failed. even open cat also.

Same for me. But my SE told me, once car is in SG, approx 6-8 weeks. Have they given you a chassis number and let u know your car is already in SG?

 

If all failed you want to let them try again then go ahead. They did put in a bid so there was intention of bidding. I’ll just stick with them out of good faith. But tell them this coming round must get.

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Same for me. But my SE told me, once car is in SG, approx 6-8 weeks. Have they given you a chassis number and let u know your car is already in SG?

 

If all failed you want to let them try again then go ahead. They did put in a bid so there was intention of bidding. I’ll just stick with them out of good faith. But tell them this coming round must get.

i think its time for me to go down their office face to face discuss.

 

they did not give me the chasis number but they mentioned car already in SG, pending LTA's approval.

 

PI got promised the date that the commit to hand over car, they will do as it is. i think is good to make them write down in the contract.

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People here really don't know the law and don't know their rights.

 

If you buy GCOE and they don't get a car for you by the due date you can rent a car and claim back from the agent the rental fees.

 

Please don't think they give you a courtesy car out of kindness of their hearts.

 

:D

 

Thanks for heads up. First time encounter this in my years of buying new cars  [:)]

You are lucky to have gotten a loan car. Now VW sales is not so good, during the good days, they would probably ignore you. Guranteed COE does not mean you would get it during first bid unless it is stated in your sales agreement, otherwise they can bid for a few more times. On the quick delivery, you can check if there is a delivery date stated on the sales agreement, my guess is not. If quick delivery is a salesman promise, there is no contractual obligation for AD to fulfill.

Once a contract is signed, there would be penalties if one back out , so in fact they are not afraid that you cancel contract. So in summery, they are being nice and you are one of the few lucky ones.

Yeah I thought so too, on hindsight  [laugh] 

 

Thank you for your input.

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Deregistration has gone up in Jul:

 

https://www.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/FactsandFigures/M05-Dereg_by_Quota.pdf

 

Revalidation has come down in Jun:

 

https://www.lta.gov.sg/content/dam/ltaweb/corp/PublicationsResearch/files/FactsandFigures/Monthly_COE_Revalidation.pdf

 

 

It looks like car sales have come down a lot so the 2nd hand car dealers have reduced extending the COE of 10-year old cars to sell.  More owners could have also given up driving.

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I think many Drivers extended their coe prematurely when the pqp were quite Low a few months back, in anticipation that the reduction in quota will spike up coe.

 

My 2 cents

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Likely to be still trending up. Last bid 1k+ quota 2k+ bids received. But it will hover around there la. +/- 1k

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Likely to be still trending up. Last bid 1k+ quota 2k+ bids received. But it will hover around there la. +/- 1k

Next round coe should still around $30k.
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