COE Bidding – 1st Round of October 2019

[bsswan]

12 minutes ago, LesterF said:

I missed at first bid, this is my second bid. Good luck.

Thanks......next time press SE also beforehand.

[awhtc]

Cat B has a strong rebound and it should be sustained. 

Cat A quota looks set to be reduced again in the next quarter and this should buffer downward pressure from weaker demand. 

 

[Scion]

Wah cold thread but hot COE.... doesn't happen often

[rickylah]

Can understand for car dealer to offer 2 bid guarantee,

Say u purchased a car based on $100k, then first bidding didn't secure coe because cat B jump too much. 

Then comes the 2nd bid, do buyer have to top up in order to secure a coe if coe maintain at $41k? 

Because new selling price already increase to $104k because coe price went up. And buyer purchased at the price of $100k with 2 bid guarantee. 

 

Whats gonna happen next? Dealer absorb the coe increase and fulfill the 2nd bid guarantee? Or buyer need to top up $4k in order to secure coe? 

[13177]

19 hours ago, Ceschfab said:

nothing out of the ordinary.

Cat A up 2k totally expected due to 3 week bidding.

Next cycle down 3k or more.

 

Expo attracted more Cat B customers.

 

Seems like coe confirmed go up due to 3 week bidding, after which coe will come down a bit and stable. Looks like $20k level coe for Cat A no more liao?! Now always maintain around $30k level.

[Spring]

3 hours ago, rickylah said:

Can understand for car dealer to offer 2 bid guarantee,

Say u purchased a car based on $100k, then first bidding didn't secure coe because cat B jump too much. 

Then comes the 2nd bid, do buyer have to top up in order to secure a coe if coe maintain at $41k? 

Because new selling price already increase to $104k because coe price went up. And buyer purchased at the price of $100k with 2 bid guarantee. 

 

Whats gonna happen next? Dealer absorb the coe increase and fulfill the 2nd bid guarantee? Or buyer need to top up $4k in order to secure coe? 

Guarantee COE means it's guaranteed and so you will not need to top up. They will either stomach the increase and get your COE or they may have Open COEs to register your car with so just sit back and wait for their call. I assume you bought from AD cos if PI then maybe different story. 

[Jamesc]

More dealers should sign customers up on guaranteed. If COE goes up just ask the customers to top up lah many will. 

I also sign guaranteed and was asked to top up. I told the salesman you told me chop signed guaranteed no need to top up. 

He said he will talk to his manager and came back and told me I was very lucky his manager like me and for me no neee to top up. 

I wonder how many his manager didn't like and had to top up? 

 

[Cheefarn]

4 hours ago, rickylah said:

Can understand for car dealer to offer 2 bid guarantee,

Say u purchased a car based on $100k, then first bidding didn't secure coe because cat B jump too much. 

Then comes the 2nd bid, do buyer have to top up in order to secure a coe if coe maintain at $41k? 

Because new selling price already increase to $104k because coe price went up. And buyer purchased at the price of $100k with 2 bid guarantee. 

 

Whats gonna happen next? Dealer absorb the coe increase and fulfill the 2nd bid guarantee? Or buyer need to top up $4k in order to secure coe? 

The insane profit margin commanded by most ADs these days are there for this purpose.

So in a way, you have already PRE-PAID the premiums to anticipate for the increase in COE premiums. If the premiums maintain the same level or went down, the dealer laughs all the way to the bank. If it shoots up alot that will eat into their insane profit margins, they can either choose not to bid this round, or the next, and wait it out for the premiums to come back down again.

Of cos, some dealers also play the fear factor game and see which blur customer will take the bait. That they ask you to do top ups if you want to get the COE. And if you as the customer fall for the bait in the midst of panic and u pay up, the dealer earns that original profit margin PLUS the top up money that you've just given... 

Woohoo... happy getting PWNED. 😄

There is no such things as dealer 'absorbing' the COE premium costs. The cost has been and always shall be 101% borne by the customer. No dealer will make a loss just to complete a sale, unless its a super slow selling model that has been sitting inside the showroom for almost 1.5 years and there is no desirability factor for that model.  

[awhtc]

COE quota will be slightly reduced in the next quarter:

Certificate of Entitlement Quota for November 2019 to January 2020

https://www.lta.gov.sg/content/ltagov/en/newsroom/2019/10/1/coe_quota_for_nov2019-jan2020.html

Edited October 14, 2019 by awhtc

[LinusLoh_1967]

Sorry, just wondering.

I noticed got some expired coe's, how come? Thought all should be used?

Cat a & b less but cat e more lol!

1 hour ago, awhtc said:

COE quota will be slightly reduced in the next quarter:

Certificate of Entitlement Quota for November 2019 to January 2020

https://www.lta.gov.sg/content/ltagov/en/newsroom/2019/10/1/coe_quota_for_nov2019-jan2020.html

 

[Jp66]

wow! on average, 53 open cat coe were expired every month. economy must be bad!

[Ct3833]

On 10/14/2019 at 11:00 PM, Jp66 said:

wow! on average, 53 open cat coe were expired every month. economy must be bad!

I didnt read the details , you sure on average  53 open cat got expired ? That is a lot of money to burn, cannot be. 

[13177]

On 10/14/2019 at 8:40 PM, awhtc said:

COE quota will be slightly reduced in the next quarter:

Certificate of Entitlement Quota for November 2019 to January 2020

https://www.lta.gov.sg/content/ltagov/en/newsroom/2019/10/1/coe_quota_for_nov2019-jan2020.html

Coe quota continue to reduce siah?! 

[Spring]

40 minutes ago, Ct3833 said:

I didnt read the details , you sure on average  53 open cat got expired ? That is a lot of money to burn, cannot be. 

The annex showed 159 Open Cat COEs expiring and as this is a quarterly announcement, it shld work out to be about 53 Open COEs per mth. I'm also stumped by this but it is $10k per COE n not the full amount being forfeited as that is the deposit when placing a bid so about $530k per mth which is admittedly no small sum as well.

[Mkl22]

44 minutes ago, Ct3833 said:

I didnt read the details , you sure on average  53 open cat got expired ? That is a lot of money to burn, cannot be. 

159 cat E expired. likely it was the 48k and 52k cat E bidded in april and may. rather lose the 10k than to use or sell it.

[Ct3833]

2 hours ago, Spring said:

The annex showed 159 Open Cat COEs expiring and as this is a quarterly announcement, it shld work out to be about 53 Open COEs per mth. I'm also stumped by this but it is $10k per COE n not the full amount being forfeited as that is the deposit when placing a bid so about $530k per mth which is admittedly no small sum as well.

LTA huat. $1.59mil in the pocket yet still can recycle the COEs. The speculators deserved their acts, they are the 1% casue of me still driving a COE car(99% because I money no enough😄😄). Thanks for sharing!

[S_andrew]

Time for the next thread!

[Chucky2007]

My car coe $60000 😭