COE Bidding – 2nd Round of February 2020

[Sword28]

Hi guys,

many ppl are hoping that COE will crash and drop to $1.

just wanted to understand more.

if it really crashes to $1, the ppl that will benefit will be the ppl that booked a car and agent bid for them in that particular bidding, correct?

As in the total car price will be reduced by the COE rebate.

I doubt the car price will drop much because of the $1 COE so those that have not booked will not benefit as much. Correct?

Is my understanding correct?

 

[nerdymedic]

43 minutes ago, Sword28 said:

Hi guys,

many ppl are hoping that COE will crash and drop to $1.

just wanted to understand more.

if it really crashes to $1, the ppl that will benefit will be the ppl that booked a car and agent bid for them in that particular bidding, correct?

As in the total car price will be reduced by the COE rebate.

I doubt the car price will drop much because of the $1 COE so those that have not booked will not benefit as much. Correct?

Is my understanding correct?

 

the COE rebate won’t cover that much. maybe most beneficial for those who bid and got the cheap COE without a car yet, then they can go to a PI and buy a car without COE.

anyways, unless there’s a huge change, no matter how much the COE fluctuates up or down, the price quoted by AD won’t change that much. actually higher COE may equal to less profit margin for them

[savagedp82]

53 minutes ago, Sword28 said:

Hi guys,

many ppl are hoping that COE will crash and drop to $1.

just wanted to understand more.

if it really crashes to $1, the ppl that will benefit will be the ppl that booked a car and agent bid for them in that particular bidding, correct?

As in the total car price will be reduced by the COE rebate.

I doubt the car price will drop much because of the $1 COE so those that have not booked will not benefit as much. Correct?

Is my understanding correct?

 

Highly doubt we'll ever get there again. $1. If get there, then all those who got it shiok. Lol. 

[Dilemma]

Gut feeling is that the COE might drop this round due to the current situations ( Virus, Economy .. ).

But base on the number of post in this thread, seems like so much interest in this round. 

[Ody_2004]

4 minutes ago, Dilemma said:

 

But base on the number of post in this thread, seems like so much interest in this round. 

Fake interest I guess.. work from home.. clear leave.. nothing to do so come here create and enjoy some fun! 🤣

[Estrangable]

hmm...everything is slow currently plus working from home... I haven't logged in for years but still come in to kill some time.

[Dilemma]

8 minutes ago, Ody_2004 said:

Fake interest I guess.. work from home.. clear leave.. nothing to do so come here create and enjoy some fun! 🤣

Very difficult to say leh. Went to a few showrooms last weekend, it was indeed crowded.

[Estrangable]

8 minutes ago, Dilemma said:

Very difficult to say leh. Went to a few showrooms last weekend, it was indeed crowded.

damn crowded … only in some showrooms. Mercs, Kia, Mazda

[Smeagol]

Feels good to come back to mycarforum, cos everytime come back means looking/selling a ride. 

Went into market to look for a replacement for my 5yo Vezel (damn ex when cat A COE was at 61k in Mar'15), just committed to a new Sienta and most likely going for COE bidding later. Car delivery supposed to be end-March. 

Having a new car to look forward to is one of the joys for car-lovers. Even if it cost an arm and leg in SG.. 🤣

[Sword28]

1 hour ago, nerdymedic said:

the COE rebate won’t cover that much. maybe most beneficial for those who bid and got the cheap COE without a car yet, then they can go to a PI and buy a car without COE.

anyways, unless there’s a huge change, no matter how much the COE fluctuates up or down, the price quoted by AD won’t change that much. actually higher COE may equal to less profit margin for them

for the recent $30k cat B, the coe rebate is about $22k, so which means if really drop to $1, your car will be cheaper by $22k, isn't that a lot? 

is that how it works?

of course more saving if you bid yourself.

My purpose of question is to find out who will benefit more, those that already booked or those intending to book. (not considering those that bid COE ownself)

 

[iceraider]

20 minutes ago, Smeagol said:

Feels good to come back to mycarforum, cos everytime come back means looking/selling a ride. 

Went into market to look for a replacement for my 5yo Vezel (damn ex when cat A COE was at 61k in Mar'15), just committed to a new Sienta and most likely going for COE bidding later. Car delivery supposed to be end-March. 

Having a new car to look forward to is one of the joys for car-lovers. Even if it cost an arm and leg in SG.. 🤣

From PI or AD? 

[Cheefarn]

40 minutes ago, Dilemma said:

Very difficult to say leh. Went to a few showrooms last weekend, it was indeed crowded.

High foot traffic and actual bookings made are 2 different matters. 

Alot were there to look at the cars and what kind of prices available. 

Alot of biz are downsizing or going bust liao la.. Still wanna spend over $100k on something that dep over 20k pa for the 1st 3 yrs?

[Smeagol]

1 minute ago, Sword28 said:

for the recent $30k cat B, the coe rebate is about $22k, so which means if really drop to $1, your car will be cheaper by $22k, isn't that a lot? 

is that how it works?

of course more saving if you bid yourself.

My purpose of question is to find out who will benefit more, those that already booked or those intending to book. (not considering those that bid COE ownself)

 

In theory yes, if the rebate level is at 22k, every dollar below 22k your car dealer suppose to give you back in cash. of cos you must also die die confirm in writing (or whatsapp) that they would bid for you before the closing time, so you won't get surprised when the dealer tell you they didn't bid for your COE when you are happily counting how much rebate you could have gotten.

 

If you bid COE yourself, you will need to find a car dealer who will sell you the car w/o COE, I think not that many dealers do that (probably becos the margin when they sell you a car w/o COE is lower, or they cannot do creative accounting and play around the car prices via the COE packages.) Not to mention the relatively high cost to pay upfront.. 30+k for your piece of paper in cash, not sure if you can take a loan for COE alone.

[Smeagol]

3 minutes ago, iceraider said:

From PI or AD? 

PI, don't like Indo Sienta, and the same specs for BM vs PI Sienta price difference is about 10k, super not worth it. 

[Ody_2004]

44 minutes ago, Dilemma said:

Very difficult to say leh. Went to a few showrooms last weekend, it was indeed crowded.

crowded does not equal to sales..

anyway COE at what price oso got buyer.. just like MSW.. at $30/kg got buyer.. even if price hit $50/kg got buyer.. I know of someone will fly in to buy MSW total $20,000 at one go..

At the end bid/buy at the level you can manage.. I will not ask "Shall I eat MSW when at $30/kg".. likewise I will not ask if I need to top up.. Everyone financial health is different.. consume/spend at your comfort.

When over 40s and jobless COE at $1 I oso need to think hard..

[Smeagol]

Just now, Ody_2004 said:

crowded does not equal to sales..

anyway COE at what price oso got buyer.. just like MSW.. at $30/kg got buyer.. even if price hit $50/kg got buyer.. I know of someone will fly in to buy MSW total $20,000 at one go..

At the end bid/buy at the level you can manage.. I will not ask "Shall I eat MSW when at $30/kg".. likewise I will not ask if I need to top up.. Everyone financial health is different.. consume/spend at your comfort.

When over 40s and jobless COE at $1 I oso need to think hard..

Very true and it really is basic of demand and supply at work.

I was contemplating changing my vezel last year, cos the depre was slowly becoming more palatable (anything below 12k/yr depre was acceptable for me). was watching the coe since aug and decided to go in if it drop back down to 30k. you cannot time the coe perfectly, so just set a level and go it when it hits your mark. 

Of course cat B coe is damn attractive to go in now cos its the lowest in 10 yrs, but all cat B cars are also alot more ex to begin with. even your cheapest B&B like Honda Freed or vehicles above 130bhp are at 100k. If you got the financial means to buy a car, think prices these few months should be pretty attractive

[Ody_2004]

1 minute ago, Smeagol said:

Very true and it really is basic of demand and supply at work.

 

the important is REAL Demand.. if one play/trade stock you can always see Fake BUY queue and Fake SELL queue..🤣 why they do it? to create false demand and supply..

Just like motorcycle COE.. real demand? or prop up by agents to prevent the collapse of their margin? Even property too.. If I have alot of land bank what I would do?  

[Smeagol]

Just now, Ody_2004 said:

the important is REAL Demand.. if one play/trade stock you can always see Fake BUY queue and Fake SELL queue..🤣 why they do it? to create false demand and supply..

Just like motorcycle COE.. real demand? or prop up by agents to prevent the collapse of their margin? Even property too.. If I have alot of land bank what I would do?  

Well there's also info asymmetry and market powers in your typical big players. the demand and supply i see is the prevailing coe prices at the time i want to go in.. nothing i can do if big players like C&C wanna hoard cheap COEs, or purposely bid higher right? So still the point, set a target price for yourself and go in, if you keep thinking coe might drop even after it reaches your target, you might never go in.