Showrooms not opening in Phase 1. What about COE?

[yishunite]

So happy im not in a position of needing a car... if theres any hint of crash im sure theyll massage quota accordingly

So enjoy paying 2019 COE prices during recession worse than 2008

[Lotr]

16 minutes ago, yishunite said:

So happy im not in a position of needing a car... if theres any hint of crash im sure theyll massage quota accordingly

So enjoy paying 2019 COE prices during recession worse than 2008

They are more likely to ensure that there is no crash

[Mockngbrd]

29 minutes ago, yishunite said:

So happy im not in a position of needing a car... if theres any hint of crash im sure theyll massage quota accordingly

So enjoy paying 2019 COE prices during recession worse than 2008

Might have to quote this msg in future 

[Pixel18]

What is certain - there will be no imminent COE price crash. This round is likely to be stable to slightly higher.  Subsequent ones would likely downward glide to stable at around $10K in few months time when full recession impact on economy is realised. The safety net of PHV demand is weak to non-existent for a while more to come. For used cars, stay away for now till the prices are forced downwards by market conditions as the depreciating pressures on dealers is not trivial and they must react to survive.

[Vinceng]

The annual depreciation for used cars in sgcarmart, is conservatively, at least 20-30% higher than brand new cars.

[yishunite]

4 minutes ago, Vinceng said:

The annual depreciation for used cars in sgcarmart, is conservatively, at least 20-30% higher than brand new cars.

Meanwhile anyone looking to dump their cars is getting paper value... huge margin to play for

[Fitmugen]

No way COE will go down a lot. Govt need to increase revenue after massive spending. COE does not affect the low income so it’s important to continue to maximize revenue there. Not to mention after election, you not happy with high COE also nobody cares.

[Skyline6]

i know maybe gov have mentioned it is one of the revenue stream for them. But I kind of disagree that they tampered and purposely change the parameters to create 'support' or 'push' the COE price. Other than recent suspension of coe bidding action by LTA. Anyone got any info (facts) regards to this? 

Edited June 17, 2020 by Skyline6

[Mockngbrd]

2 hours ago, yishunite said:

Meanwhile anyone looking to dump their cars is getting paper value... huge margin to play for

Ok la, I will offer 1k above paper hehehehe

[Lotr]

2 hours ago, Vinceng said:

The annual depreciation for used cars in sgcarmart, is conservatively, at least 20-30% higher than brand new cars.

yes it is crazy, buy at paper value, sell at straight line depreciation

[Lotr]

14 minutes ago, Skyline6 said:

i know maybe gov have mentioned it is one of the revenue stream for them. But I kind of disagree that they tampered and purposely change the parameters to create 'support' or 'push' the COE price. Other than recent suspension of coe bidding action by LTA. Anyone got any info (facts) regards to this? 

afaik, the recent suspension of bidding is the only one that can be interpreted as a manipulation

[Lotr]

2 hours ago, Fitmugen said:

No way COE will go down a lot. Govt need to increase revenue after massive spending. COE does not affect the low income so it’s important to continue to maximize revenue there. Not to mention after election, you not happy with high COE also nobody cares.

coe revenue is about $3b per year based on 4000 coes per bid and 30k per coe.  

so let's see if what will lta do with the unbidded coes.

[publicfigure]

When COE goes up LTA will provide evidence of high demand, while low demand LTA will limit the quota because government need money? Government like that one ah, cheat people? 

Edited June 17, 2020 by publicfigure

[Net1sg1969]

23 hours ago, Vinceng said:

COE bidding has apparently been brought forward to 24 June. Read the news tomorrow.

Any news yet ?

[Fitmugen]

1 hour ago, publicfigure said:

When COE goes up LTA will provide evidence of high demand, while low demand LTA will limit the quota because government need money? Government like that one ah, cheat people? 

Of course govt should not do that. But if you look at the big picture, it is more equitable to increase revenue collection from luxury goods like cars than raise GST which affects the low income disproportionately.
If you want to walk the talk with SG United, then let the better off Singaporeans shoulder the burden.

[Philipkee]

7 hours ago, Skyline6 said:

i know maybe gov have mentioned it is one of the revenue stream for them. But I kind of disagree that they tampered and purposely change the parameters to create 'support' or 'push' the COE price. Other than recent suspension of coe bidding action by LTA. Anyone got any info (facts) regards to this? 

Long time ago when I got my accent.  This was in 2017.  Everyone thought COE was sliding down to below $50k when they suddenly announced the COE bid is to be postponed for one week pending an announcement in the budget announcement in Parliament.

COE spiked.

Turned out that urgent announcement was just to change the ARF of motorbikes or something. But the prices have gone up.....

[Invigorated]

33 minutes ago, Philipkee said:

Long time ago when I got my accent.  This was in 2017.  Everyone thought COE was sliding down to below $50k when they suddenly announced the COE bid is to be postponed for one week pending an announcement in the budget announcement in Parliament.

COE spiked.

Turned out that urgent announcement was just to change the ARF of motorbikes or something. But the prices have gone up.....

that was a different economic environment then.

[publicfigure]

4 hours ago, Fitmugen said:

Of course govt should not do that. But if you look at the big picture, it is more equitable to increase revenue collection from luxury goods like cars than raise GST which affects the low income disproportionately.
If you want to walk the talk with SG United, then let the better off Singaporeans shoulder the burden.

I get your idea. However then government should make it clear if it’s for revenue collection and put in the fix margin of tax instead of manipulating COE price. It defeats the purpose of having COE.