COE Bidding – 1st Round of August 2020

[Ginyu]

COE remain high so there will be two group of people, those not willing to pay the extra then will give it up and the other willing to incur more debt will buy 🤣

[JC2]

10 hours ago, Vinceng said:

If unable secure COE, it's better to give up the purchase in this economic downturn never seen before,  since S'pore's independence.

COE is at $35K - $38K now, but the prices of new cars similar to 2017 when COE was at > $50K levels.

Current COE prices are not indicative of real market conditions, as they are artificially inflated by the evil forces determined to drive COE prices north.  😁

Can easily run a check of prices of cars past few years on the ------ website... example: Honda Civic back in 2017 was in the range of 110k, now 2020 at 93k... so what are you smoking bro... where got same price back in 2017???

[Spring]

9 minutes ago, pengu said:

I was just informed by someone that guaranteed COE is fake news lol.

Went to look at the contract of a guaranteed COE and realised there’s some truth to it.

The contract has a clause that says something like this “if the dealer cannot fulfil the deal due to whatever reason, the deposit will be refunded in full.”

Nowhere in the contract states the penalty to the dealer for not fulfilling a guaranteed COE.

Meaning to say, if the dealer want to play punk, they can still ignore a guaranteed COE (at the risk of their reputation, but sometimes money outweighs reputation).....

So far, I've not heard guaranteed coe from AD not being fulfilled. From PI yes some were not fulfilled so have to be careful on the fine print esp at PI.

[Spring]

27 minutes ago, Mkl22 said:

hahaha thats what everyone said about this round of COE bidding... its the 4th bid after opening from CB, should fall..... kekkekeke. next one has a 3week gap. thus more orders will flood in.

Personally, I dont think there will be many new orders at this price level. Dealers will be trying to clear their existing orders so there may still be a chance to get COE but of course your guess is as good as mine.

[Correctorwrong]

1 hour ago, pengu said:

Haha previously so many people asking others not to top up, now all disappeared le 😂

Lol those like me CB Kia still here. If no top up sure no car lol. But was sharing with you, KMC is too late in the game... I think they are trying to fulfil now but unable to as COE really will move north further. In any case, they gotta give a good carrot if they want to refund me early 😂

[whatyouwant]

What I don't understand is how come there are 2,099 bids received for cat A? Basically means there were 1,000 new purchases made over the last two weeks. I thought the dealerships were quiet over the past month. Maybe not...

[Lalaland01]

8 minutes ago, Correctorwrong said:

Lol those like me CB Kia still here. If no top up sure no car lol. But was sharing with you, KMC is too late in the game... I think they are trying to fulfil now but unable to as COE really will move north further. In any case, they gotta give a good carrot if they want to refund me early 😂

Ya man... CB Kia Lose.. ☹️

[JQ01]

My guess is next 2 bid will not fall, it may even go higher. It is the last 2 bid for those 6 bid CB deals. After that, the backlog will mostly be cleared or refunded. Then at that high price where there is almost no new demand,  we can see price start to move down. My guess of course.

[Blync]

1 hour ago, RF7 said:

Well, there are a lot of people that buy car and depreciation is not somehting that they look into... Some is for the brand prestige (show factor) and some maybe love at first sight. haha

On top of depreciation i would recommend car buyers to look at:

-Premium % i.e. selling price vs car cost.

Some conti models have a lower premium % than certain jap or korean models even though the selling price maybe higher. Basically make sure you are not overpaying for what the car is worth in cost. Anyway Sgcarmart already has it calculated for us, some models didnt reveal their cost and arf unfortunately.

 

[Mkl22]

18 minutes ago, Spring said:

Personally, I dont think there will be many new orders at this price level. Dealers will be trying to clear their existing orders so there may still be a chance to get COE but of course your guess is as good as mine.

As long as the coe prices holds means there is demand at that level. Once it starts to drop means the ADs reduce their prices to dig out more demand.
Every consumer has a trigger point as seen in the CB offers. So typically the prices will fall by a few k each time for bread and butter cars to trigger more demand. As long as coe and the order book is healthy, prices won’t drop.
 

yes I’m stating the obvious. but that’s how it goes. Don’t need to speculate too much. It’s beyond ones control.
No such thing as gather collectively to not top up and force the ADs hand. Only an idiot will believe it will work. 
 

also I find it odd that some think that the ADs purposely push the coe prices up. What’s their justification for doing it? They don’t get to earn more, it cuts into their margins when coe goes up at the price they committed to the buyer. They will then have to up the price for the next buyer to recover the “loss”. It’s not a given that there will be tons of demand when the prices go up. 

Edited August 20, 2020 by Mkl22

[Lotr]

6 minutes ago, whatyouwant said:

What I don't understand is how come there are 2,099 bids received for cat A? Basically means there were 1,000 new purchases made over the last two weeks. I thought the dealerships were quiet over the past month. Maybe not...

Could be the back log

[Lotr]

3 minutes ago, Blync said:

On top of depreciation i would recommend car buyers to look at:

-Premium % i.e. selling price vs car cost.

Some conti models have a lower premium % than certain jap or korean models even though the selling price maybe higher. Basically make sure you are not overpaying for what the car is worth in cost. Anyway Sgcarmart already has it calculated for us, some models didnt reveal their cost and arf unfortunately.

 

Can still try to find the omv from onemotoring

[Passion]

2 hours ago, Pooty said:

How did your deal go? Managed to get your kimchi?

Nope. How to get? I low balled them and they accept. Now if they sell me, no I should say they give me cause they will make a loss if they do give me the car. 

[Mkl22]

8 minutes ago, Blync said:

On top of depreciation i would recommend car buyers to look at:

-Premium % i.e. selling price vs car cost.

Some conti models have a lower premium % than certain jap or korean models even though the selling price maybe higher. Basically make sure you are not overpaying for what the car is worth in cost. Anyway Sgcarmart already has it calculated for us, some models didnt reveal their cost and arf unfortunately.

 

Go to onemotoring facts and figures to see. All there. 
haha.Anyway,  Omv is not a real true gauge of the car. 

Edited August 20, 2020 by Mkl22

[Soundphile]

30 minutes ago, Spring said:

So far, I've not heard guaranteed coe from AD not being fulfilled. From PI yes some were not fulfilled so have to be careful on the fine print esp at PI.

somehow miraculously, AD will always take out an open CAT E at the end of the bidding cycles and counter offer buyers to top up A BIT and take the open CAT. Win-win situation, cos the CAT E likely to be lower price then the COE at that point of time.

[Passion]

12 minutes ago, Mkl22 said:

As long as the coe prices holds means there is demand at that level. Once it starts to drop means the ADs reduce their prices to dig out more demand.
Every consumer has a trigger point as seen in the CB offers. So typically the prices will fall by a few k each time for bread and butter cars to trigger more demand. As long as coe and the order book is healthy, prices won’t drop.
 

yes I’m stating the obvious. but that’s how it goes. Don’t need to speculate too much. It’s beyond ones control.
No such thing as gather collectively to not top up and force the ADs hand. Only an idiot will believe it will work. 
 

also I find it odd that some think that the ADs purposely push the coe prices up. What’s their justification for doing it? They don’t get to earn more, it cuts into their margins when coe goes up at the price they committed to the buyer. They will then have to up the price for the next buyer to recover the “loss”. It’s not a given that there will be tons of demand when the prices go up. 

If it’s not AD that push up the price, then who? They determine how much they want to earn. If COE go up, they can bite the bullet and earn lesser and eventually try not to bid so high, then yes, they are not the culprit. But now the situation is this. They keep revising their list price upwards, so that they can earn the same margin. So who is the “sucker” here? Buyer Loh... want to buy then pay the price. Govt don’t want to be loser, AD don’t want to be loser, so buyer has to. 
 

if AD collectively keep the deal good for buyer, then probably they will get better sales. Sadly, this part of the world, the govt change the rules or influence mindset by sending out car population news when nearing the weekend where there will be COE bidding. It’s always so timely that 4 days before COE bidding, news will come out.

 

anyway, I believe the 92 billion must come from somewhere. ERP already stop collecting, petrol tax also collect lesser now, so how to keep the 92 billion spending? Must be from somewhere....

[Lalaland01]

11 minutes ago, Passion said:

Nope. How to get? I low balled them and they accept. Now if they sell me, no I should say they give me cause they will make a loss if they do give me the car. 

Kimchi like don’t bother to deal... may be true that they are too slow into the game... now COE shoot up, they cant deal also...

[Vinceng]

44 minutes ago, Spring said:

So far, I've not heard guaranteed coe from AD not being fulfilled. From PI yes some were not fulfilled so have to be careful on the fine print esp at PI.

The more established PIs are more reliable in keeping to their words.

Edited August 20, 2020 by Vinceng