Motorist seeks court order to renew 5-year COE

[Mockngbrd]

Scarli 5 Yr coe 30k next time

[Kusje]

15 hours ago, Soya said:

I fully support this fella. No strong reason for LTA to keep this silly policy

If LTA prepared to allow COE extension for 10 yrs and another further 10 years and another 10 years after that, why must stop at 5 years? LTA onli interested in ppl paying money onli what. It's not about emissions, not about roadworthiness, not about car lite, etc.

If LTA scare ppl try luck when COE is high and renew 5 yrs first w the hope that COE drop 5 years later, it could also work the other way round i.e COE could be higher in 5 yrs time. So why so scare they lose out?

 

I also fully support this fellow.

But only in terms of posting on the forum and not with money 

[Falc]

There are silly LTA rules, but this 5-years rule is not one of them.

They could have just removed the option for 5 years renewal altogether. 

 

[Neost]

46 minutes ago, Falc said:

There are silly LTA rules, but this 5-years rule is not one of them.

They could have just removed the option for 5 years renewal altogether. 

 

I am sure there is a rational behind this 5-years rule. It's time LTA clarifies again why such a rule exist.

[Xers007]

On 1/4/2020 at 10:25 AM, Alfc said:

If I read correctly, he is open to paying for the full 10-year COE based on the COE price at his point of renewal i.e Nov 2014. This eliminates the profiteering or speculative intention that he is trying to exploit current lower PQP. WIth this in mind, I think his request is not unreasonable.

To prevent exploitation, it can always be set that any of such case has to pay for the 10-year based either on COE PQP at point of first renewal or second 5-year renewal, whichever is higher. Some people just geniunely wanted to keep their car.

Its not fair to the others who renew 10yrs straight and to LTA as coe have to be paid off in one shot at renewal. Unless he also pay for the 5yrs interest at an inflating rate of the balance.

[Xers007]

8 hours ago, Neost said:

I am sure there is a rational behind this 5-years rule. It's time LTA clarifies again why such a rule exist.

I think the 5 years rules is for ppl who cannot fork out such a big sum at one go and it cannot be extend further is to prevent exploitation as some bro has mentioned before.

[kobayashiGT]

Forum: Does five-year COE renewal count towards overall quota?

I read about Mr Koh Lin Yee, who is seeking a court order that will allow him to keep his car after his one-off five-year certificate of entitlement (COE) renewal expired (Motorist sues LTA over COE renewal, Jan 4).

A question that cropped up in my mind is whether a five-year COE renewal, which costs half that of a 10-year one, reduces the quota available for new cars that will each incur the cost of a 10-year COE. I hope the Land Transport Authority can shed light on this.

If a five-year COE counts towards the COE quota, this raises the question of why a half-price five-year COE is allowed to deprive a full-price 10-year COE for a new car of its existence.

Aside from the fact that there could be a form of "revenue leakage" of half of a 10-year COE each time a car's COE is renewed for only five years, another concern is whether a system in which both five-year and 10-year COEs count towards the same quota favours the incumbent car owner unfairly over a buyer of a new car, since the incumbent car owner needs only half the amount a new car buyer needs to secure a COE.

A five-year COE that counts towards the quota would defeat the purpose of a COE as an additional tax on car ownership, when that additional tax is only half the amount of the 10-year COE for a new car.

While the unused portion of a COE is refundable, which means that the ultimate cost of a COE could be less if the COE is cancelled sooner (which could happen if the car is scrapped or exported), the upfront cost of a COE is a deterrent, and halving the amount of a COE by allowing for five-year COEs is as good as halving the deterrent effect of the 10-year COE.

Janet Tan

source: https://www.straitstimes.com/forum/letters-in-print/does-five-year-coe-renewal-count-towards-overall-quota

[Watwheels]

This kinda lawsuit can only make you think it's politically motivated. Who in sgp jiak bah so eng?😂

We are just peasants. Whoever behind this lawsuit is probably not.

[Macrosszero]

15 minutes ago, kobayashiGT said:

Forum: Does five-year COE renewal count towards overall quota?

source: https://www.straitstimes.com/forum/letters-in-print/does-five-year-coe-renewal-count-towards-overall-quota

 

Now people are starting to think deeper. LTA PR department busy. Some more CNY coming...

[Macrosszero]

8 hours ago, Xers007 said:

Its not fair to the others who renew 10yrs straight and to LTA as coe have to be paid off in one shot at renewal. Unless he also pay for the 5yrs interest at an inflating rate of the balance.

Do you renew road tax in 6 or 12 month chunks? By your logic, all must renew in 12 months only because those who renew 6 month get to earn interest however small it may be. Same principles apply. 

[Jwee85]

Seems legit.

Like a loophole to play the COE market. Since most car owners sell/change their new cars after 3-5 years. Then logically LTA should also allow 5years COE for new car purchase.

 

If a five-year COE counts towards the COE quota, this raises the question of why a half-price five-year COE is allowed to deprive a full-price 10-year COE for a new car of its existence.

A five-year COE that counts towards the quota would defeat the purpose of a COE as an additional tax on car ownership, when that additional tax is only half the amount of the 10-year COE for a new car.

 

[Xers007]

4 hours ago, Macrosszero said:

Do you renew road tax in 6 or 12 month chunks? By your logic, all must renew in 12 months only because those who renew 6 month get to earn interest however small it may be. Same principles apply. 

Well i would think the amount and duration differs... but all this is just my thoughts. We shall wait for LTA "official" explanation. 

[Kusje]

8 minutes ago, Jwee85 said:

Seems legit.

Like a loophole to play the COE market. Since most car owners sell/change their new cars after 3-5 years. Then logically LTA should also allow 5years COE for new car purchase.

 

If a five-year COE counts towards the COE quota, this raises the question of why a half-price five-year COE is allowed to deprive a full-price 10-year COE for a new car of its existence.

A five-year COE that counts towards the quota would defeat the purpose of a COE as an additional tax on car ownership, when that additional tax is only half the amount of the 10-year COE for a new car.

 

when the coe expires after 5 years, it will be recycled and the quota increased. that's not how it works?

[awhtc]

10 minutes ago, Jwee85 said:

Seems legit.

Like a loophole to play the COE market. Since most car owners sell/change their new cars after 3-5 years. Then logically LTA should also allow 5years COE for new car purchase.

 

If a five-year COE counts towards the COE quota, this raises the question of why a half-price five-year COE is allowed to deprive a full-price 10-year COE for a new car of its existence.

A five-year COE that counts towards the quota would defeat the purpose of a COE as an additional tax on car ownership, when that additional tax is only half the amount of the 10-year COE for a new car.

 

A 5-year COE will reduce the upfront cost of a new car.  It is likely to boost the demand for new cars and hence COE prices.

For the current system, if a 5-year COE is renewable for a COE car, very drivers will go for a 10-year renewable COE when the PQP is high (e.g. >$40k).

The writer's point on 5-year COE taking up 10-year COE quota does not make sense to me, as LTA is concerned with the total car population at any point in time.

A 5-year COE whether for new car or COE car could result in higher turn-over on COE prices and taxes that will benefit government revenue collection.

[Mkl22]

21 minutes ago, Kusje said:

when the coe expires after 5 years, it will be recycled and the quota increased. that's not how it works?

it is. so at any one time the quota is almost full utilized. the only "leakage" in the zero growth system is when the car is scrap and the coe is not yet used to register a new car on the road. this is from approx 2-8mths i think. so the letter writer doesn;t understand.

Edited January 7, 2020 by Mkl22

[Zxcvb]

6 hours ago, kobayashiGT said:

A five-year COE that counts towards the quota would defeat the purpose of a COE as an additional tax on car ownership, when that additional tax is only half the amount of the 10-year COE for a new car.

While the unused portion of a COE is refundable, which means that the ultimate cost of a COE could be less if the COE is cancelled sooner (which could happen if the car is scrapped or exported), the upfront cost of a COE is a deterrent, and halving the amount of a COE by allowing for five-year COEs is as good as halving the deterrent effect of the 10-year COE.

Janet Tan

source: https://www.straitstimes.com/forum/letters-in-print/does-five-year-coe-renewal-count-towards-overall-quota

Want deterrent then pay FULL CASH ONLY!!! 

[RogerNg_185295]

On 1/4/2020 at 6:47 PM, Dacoova said:

The logic for 5 year can't renew again is last time only can renew 10 years, then people complain only drive for 5 years why must renew 10 years then rebate back, too much outlay and govt earn the interest, so govt say "OK lor, just for you allow 5 years, and can't renew again since you say you only want 5 years". Everyone knows this rule that 5 year is only one time, this guy don't know? Everything has rules, you want to play the game, you follow the rules. 

He too much time and money to challenge the LTA.  Sure lose one

[Soya]

1 hour ago, RogerNg_185295 said:

He too much time and money to challenge the LTA.  Sure lose one

Erection cumming. Anything is possible this year