Showrooms not opening in Phase 1. What about COE?

[Mkl22]

2 hours ago, Rickster said:

Actually quite true. My current company realised that WFH is a viable long term proposition and recently my boss announce that the office will be gone and everyone WFH.

Moving forward, we will only maintain a shared office space from the likes of Wework.

I'm now thinking if I should even keep my car.

how many people in singapore?

[Mockngbrd]

21 minutes ago, Ct3833 said:

You are looking for car to drive for 1 , 2 years before renewing COE or just drive and scrap ? 

Not looking to buy anytime soon. But if buy, will be to renew, so throw seller a few K for their car body on top of paper. 

My own feeling is COEs will drop. By how much or when, I dunno. But for now, I don't need a car for daily use. Even if office allows us go back for a few days a week, take taxi/grab everyday still cheaper than owning a car + road tax + season parking + petrol + yearly inspection + maintainence. 

If really need a car, there's the 2002. Classic plate but still available for use if really really needed.

Edited May 20, 2020 by Mockngbrd

[Vinceng]

17 minutes ago, Dinosaur33 said:

But if you were to realise in Singapore - we have a situation whereby those who need a car, cannot afford a car - while those who do not need a car, can jolly well afford to have a car.

Other than that, why would you need a car? Other than ruling out children and elderly requirement.

It makes more sense for some to drive, eg. fetch children to school, drop spouse off at work, pick up children form in-law's place after work. The intangible benefits cannot be counted with money. 

The problem is those who need  a car splurge beyond their means on the brand, like some enquiries that I overheard at the Motorshow, asking about 0% downpayment & 100% loan for the $170K Mercedes C160, which interior is no bigger than a $49K Mitsubishi Attrage or a $54K Perodua Bezza. Power wise, any car can reach 100km/h in Singapore. 

[Mockngbrd]

Now still can 100% loan meh? liam PHV sticker ah?

[Dinosaur33]

1 minute ago, Vinceng said:

It makes more sense for some to drive, eg. fetch children to school, drop spouse off at work, pick up children form in-law's place after work. The intangible benefits cannot be counted with money. 

The problem is those who need  a car splurge beyond their means on the brand, like some enquiries that I overheard at the Motorshow, asking about 0% downpayment & 100% loan for the $170K Mercedes C160, which interior is no bigger than a $49K Mitsubishi Attrage or a $54K Perodua Bezza. Power wise, any car can reach 100km/h in Singapore. 

Sorry, when I meant some need a car, I literally meant like a japanese or korean car, 1.6litre or 2.0litre. Some 3 generation family would need a MPV.

I'm not talking about a luxury car. 

[Voodooman]

4 hours ago, Lotr said:

Phase 1, all hairdressing services resume.  Still I guess the authorities will take a calibrated approach.   If cases start appearing, hopefully not, things will change

Yes many business complaining why can do coloring but cannot do aesthetic treatment.

This one must ask the wives.

[Kangadrool]

41 minutes ago, Vinceng said:

It makes more sense for some to drive, eg. fetch children to school, drop spouse off at work, pick up children form in-law's place after work. The intangible benefits cannot be counted with money. 

The problem is those who need  a car splurge beyond their means on the brand, like some enquiries that I overheard at the Motorshow, asking about 0% downpayment & 100% loan for the $170K Mercedes C160, which interior is no bigger than a $49K Mitsubishi Attrage or a $54K Perodua Bezza. Power wise, any car can reach 100km/h in Singapore. 

Agree, but for some, the ability to speak to the pump attendants, how they arrive and the "say" is a priority.

 

[Rickster]

1 hour ago, Mkl22 said:

how many people in singapore?

Only 7 nia, that's why easy to let go of office.

[Rickster]

54 minutes ago, Dinosaur33 said:

Sorry, when I meant some need a car, I literally meant like a japanese or korean car, 1.6litre or 2.0litre. Some 3 generation family would need a MPV.

I'm not talking about a luxury car. 

Luxury car or not, not everyone who owns or want to buy car must have a need.

I believe most of the car owners in MCF own car(s) because they worked hard, worked smart and made their money.

So car for them is meant to make life better and be enjoyed, not as a need. 

[sake]

1 hour ago, Mockngbrd said:

If really need a car, there's the 2002. Classic plate but still available for use if really really needed.

👍

[Jujitsuka]

No wonder i see so many PI/AD adverts on my FB LOL... all of them feeling the inventory burdens from banks & custom duties... And with LTA delaying the COE bidding announcements i am guess something might be afoot? And if my guess is correct, with the current low interest rates MAS might look at lowering the LTV for car sales... we might see a 90/10 or 80/20 bank loans in the next couple of months i reckon! If we are lucky maybe 100% loans might just make a come back cos its a win-win for all! Govt makes monies off increase COE biddings and car dealers rake in the cash they need & consumers get their new cars? Problem is how many people will still have the appetite for big ticket items such as cars in these uncertain times?

https://www.sgcarmart.com/news/article.php?AID=23138&GASRC=sgcm 

[Vinceng]

This should suffice for basic Point A to B transport at an affordable $3,500 a year in depreciation. But some people will find it very sia suay to be seen in a Malaysian brand. They'd rather take public transport or Grab.

https://www.sgcarmart.com/used_cars/info.php?ID=899341&DL=2015 

 

Need a 7 seater to haul the entire family and parents but on a tight budget?  Get this Indonesian assembled 7 seater which is based on a commercial van platform with the engine located below the front seat,  at $4,400 a year depreciation, if you can compromise.

https://www.sgcarmart.com/used_cars/info.php?ID=901362&DL=1000

 

 

Edited May 20, 2020 by Vinceng

[Philipkee]

36 minutes ago, Rickster said:

Only 7 nia, that's why easy to let go of office.

But yours might not be the only office.  Imagine if more offices decide to let go and WFH.

REITS will fall.

[Mockngbrd]

18 minutes ago, Jujitsuka said:

If we are lucky maybe 100% loans might just make a come back cos its a win-win for all!

https://www.sgcarmart.com/news/article.php?AID=23138&GASRC=sgcm 

100% loan win win for all meh? 

[sake]

for those who need/want to change cars, perhaps now is the best time to do so.

like in the property market, upgrade during downturn!

[Vinceng]

Now is a good time to change car only if you are don't have any existing car to sell, or your existing car is due for scrap soon.  Else, you are looking at paper value or close to that for your car to be sold or traded in. anyway, prices have risen by quite a bit over the past 2 weeks.

[Lotr]

28 minutes ago, Vinceng said:

Now is a good time to change car only if you are don't have any existing car to sell, or your existing car is due for scrap soon.  Else, you are looking at paper value or close to that for your car to be sold or traded in. anyway, prices have risen by quite a bit over the past 2 weeks.

cannot understand your last sentence.  Are you referring to new cars or 2nd hand cars?  Price rise means demand is strong.

[Rickster]

39 minutes ago, Philipkee said:

But yours might not be the only office.  Imagine if more offices decide to let go and WFH.

REITS will fall.

Ya, exactly! Those commercial REITS is gonna have a tougher time moving forward.

I remember reading somewhere that Google and Facebook is implementing WFH measures for the next 1 year in Singapore due to Covid.