Showrooms not opening in Phase 1. What about COE?

[Lotr]

Coe is cashcow, every month  more than hundred million revenue, unlikely to change anytime soon.  In fact, LTA is trying to prevent market crash as per KBW's FB post recently.

[inlinesix]

1 minute ago, Lotr said:

Coe is cashcow, every month  more than hundred million revenue, unlikely to change anytime soon.  In fact, LTA is trying to prevent market crash as per KBW's FB post recently.

When COE crashed, a lot of used car dealers will go out of biz.

That will have an impact on our financial system hor.

[yishunite]

5 minutes ago, inlinesix said:

When COE crashed, a lot of used car dealers will go out of biz.

That will have an impact on our financial system hor.

Used car dealer price system is boom and bust... thats their own fault for pricing everything at straight line depre. Those small players go out of biz no big deal compared to thousands who will benefit from lower COE and having more money to put on the plate. And when COE recover all these used car dealers will all be back under different names... tactical bankruptcy only

[inlinesix]

6 minutes ago, yishunite said:

Used car dealer price system is boom and bust... thats their own fault for pricing everything at straight line depre. Those small players go out of biz no big deal compared to thousands who will benefit from lower COE and having more money to put on the plate. And when COE recover all these used car dealers will all be back under different names... tactical bankruptcy only

Most used car dealer borrow car to take in your car.

When these used car dealer kaboomzzzz, our bank solvency will be affected hor.

I only care about the stability of Financial System.

[Philipkee]

21 minutes ago, Mkl22 said:

It’s 10k bid deposit by the way. 

Not $2?  Then who so free to bid $2 when they need to deposit $10k?

 

24 minutes ago, inlinesix said:

 

I was referring tho whose who actually go through the process of buying a car with the hopes of selling within  year when COE spikes.

[inlinesix]

4 minutes ago, Philipkee said:

Not $2?  Then who so free to bid $2 when they need to deposit $10k?

I was referring tho whose who actually go through the process of buying a car with the hopes of selling within  year when COE spikes.

I wonder how many ppl benefited from that.

Despite the spike, the owner will not be able to sell higher than his previously paid price after 1 year.

I will bid $2 if it is a SingPass bidding process.

Edited June 23, 2020 by inlinesix

[Mockngbrd]

Huat ah!! 

[Lotr]

30 minutes ago, inlinesix said:

When COE crashed, a lot of used car dealers will go out of biz.

That will have an impact on our financial system hor.

Hmmmm, is this why KBW said that he is worried that COE crash will affect the 2nd car dealers.

Anyway, how big will it be. cars are not properties

[Lotr]

14 minutes ago, Philipkee said:

Not $2?  Then who so free to bid $2 when they need to deposit $10k?

 

I was referring tho whose who actually go through the process of buying a car with the hopes of selling within  year when COE spikes.

Need 10k deposit, $2 is like processing fee. And iirc every revision of bid is another $2.

If bid is unsuccessful, the deposit will be returned by not the $2

[Ody_2004]

40 minutes ago, inlinesix said:

When COE crashed, a lot of used car dealers will go out of biz.

That will have an impact on our financial system hor.

 

25 minutes ago, inlinesix said:

Most used car dealer borrow car to take in your car.

When these used car dealer kaboomzzzz, our bank solvency will be affected hor.

I only care about the stability of Financial System.

sound familiar.. I heard it recently leh.. 😁

[Mockngbrd]

used car dealer boomz will hav fire sales?

[Roh96]

Most used car dealers buy their stock with paper + body formula. Don't believe try calling any dealers to quote your used car. So even if COE crash, the damage to them will be kind of limited. At worst dereg and export their stockpile. 

[yishunite]

1 hour ago, inlinesix said:

Most used car dealer borrow car to take in your car.

When these used car dealer kaboomzzzz, our bank solvency will be affected hor.

I only care about the stability of Financial System.

Er maybe u duno exactly how big our financial system is... 2nd hand dealer borrowing is peanuts in those terms

[inlinesix]

Just now, yishunite said:

Er maybe u duno exactly how big our financial system is... 2nd hand dealer borrowing is peanuts in those terms

Nowaday, there is no such thing as too big to fail

[t0y0ta]

5 hours ago, Dinosaur33 said:

Actually I've a suggestion to LTA, in order to buy a car - instead of having the COE system. You issue a permit system. In order to be eligible for the permit, you must first submit an approval list - stating why you need a car? For those families with young children, elderly with disabilities, you will be issued with a permit to buy a car. Individual can submit/apply for this permit via this SingPass account. And they will need to submit the necessary supporting documentations and go for an interview with the authorising officer/approving officer from the agency for requirement assessment before they can be get the approval.

For those who job function, role and responsibilities are requires them to have mobility transport - in order to aid their job, the company HR will make use of CorpPass to submit a request to LTA requesting for approval for permit to use, own and drive a car on the road on Singapore. 

For commercial organisation, like logistics company, transport company who usually purchase commercial vehicle for transportation, they will also need to submit this application in order to prevent families and individual who purchase commercial for household purpose.

Having a car is like having a washing machine, a fridge and helpers for some families. These are tools to aid them to make their life easier, and not to make their life more difficult. Instead of just dishing out money via grant, we give these families the "tools" to make a living for themselves. It is usually these families that requires these "tools" to make their life better. Removing/Taking away this set of "tools" is like asking these individuals to work, but not giving them the necessary and required "tools" to perform their function.

 

ma de

Every few years will have some young kid suggest this in MCF.

Honestly... that is not free market, more like North Korea. Just set the rule that only ruling party members can buy car. I think everyone will be queuing up for PAP membership.

[yishunite]

7 minutes ago, inlinesix said:

Nowaday, there is no such thing as too big to fail

I think u duno how to use tbtf...

Tbtf refers to a company thats too big to fail so gahmen must bail it out

Im talking abt the size of 2nd hand dealer borrowings being too small to make a dent on our billions of dollars financial sector

[inlinesix]

1 minute ago, yishunite said:

I think u duno how to use tbtf...

Tbtf refers to a company thats too big to fail so gahmen must bail it out

Im talking abt the size of 2nd hand dealer borrowings being too small to make a dent on our billions of dollars financial sector

We are not sure about its accumulation risk here.

[yishunite]

2 minutes ago, inlinesix said:

We are not sure about its accumulation risk here.

What u think dealer loans are highly leveraged overcollateralized securities like subprime? Lol this not usa pls