COE Bidding – 1st Round of August 2020

[hungryjack]

1 hour ago, kuchiku2 said:

New here, but I've been following this thread closely since I'm one of those who put down a deposit during CB period. Would like to ask  MCFers opinion of my situation.

BnB Cat B car. 6 bid NG COE, currently 2 bids to go. For the last few rounds AD has been bidding the same amount which is around 2-4K lower then the COE closing (since COE is on uptrend the gap is growing bigger). I calculated the AD's premium based on yesterday's COE closing, and they are getting slightly less then 7K or around 8.2% margin.

SE informed me that if I top up 4K, they will provide me a CAT E.

Based on their margin, and the trend that COE may still be increasing at least for the short term, the AD may just forgo my deal. My current ride's COE is expiring Dec. My worry is that by the time I wait out the last 2 rounds, it will already be end Sep and I will only have 2 months to secure a new ride.

So the question is whether I should wait it out and hope that COE will drop by then? Or do you think the top up is reasonable seeing the AD's margin.

If 4k 1 bid guaranteed, I will take it. Or bargain for some freebies like throw in more servicing or cameras etc. Take it as a trade off

[Batmanbee]

2 hours ago, Dango said:

Passion is right. When I purchase an Avante S ($75k) from KMC in CB Phase 2, they sell very aggressively.
The service is very good and attentive. Since the start of COE bidding, currently failed the 4th bid.
I kept on being asked to top up 1k - 10k (which I didn't) or even suggest to me to cancel my contract.
Damn ugly. Nobody wants to lose and KMC dares to sell a fake dream.  

My case is similar to yours. I alrd agreed to cancel the sale and get back my full deposit. We have a spare car to use, getting a new one only coz it’s cheap and it’s more convenient. But without it I can make do.
 

Maybe after the cb deals are all cleared and there is no more pent up demand, see if coe and drop a bit and I’ll go shop ard again for a mazda3 or a civic. And no more kmc hahah

[Juicyjuice]

My SE said can cancel contract and refund deposit if I want. 

[13177]

8 minutes ago, Juicyjuice said:

My SE said can cancel contract and refund deposit if I want. 

Which AD? No need to fulfil all the coe bidding signed?

[Passion]

2 hours ago, Mkl22 said:

Aiyah you should have bought another Mercedes. 
1. no need to worry about coe prices. Just when collect

2. Mercedes Only have turbo engines so won’t road hog like a NA Avante.  

Oh yes, should have done that. 

[Passion]

44 minutes ago, Kar_lover said:

I guess there are other variables at play. For example, were there more COEs available then so more cars could be sold and therefore they don't need as much margin per car?

That’s the problem here. Dealer earn more or earn less, it shouldn’t be the buyer’s problem. But it’s an unique situation in sg that dealer can not lose, govt cannot lose, so there can only be 1 loser in the entire eco system.

[Passion]

32 minutes ago, Vinceng said:

Believe me - even if you don't top up the $4K, you will still secure your COE.

The distributorship Sales Manager will ask the sales staff to persuade buyers to top up, but at the back of their minds, they will secure COE irregardless.

The distributor has a bigger headache if they don't secure your COE - they risk failing to meet the principal's (manufacturer) annual sales quota and lose their distributorship

It depends. It still have to be within their margin. As in, cannot be negative earning. Nobody will do lose money business. But if the sale get them say 5k, don’t say 5k, 3k also they will go for it. One of the forumer here got his car at that kind of margin.

[Passion]

24 minutes ago, Batmanbee said:

My case is similar to yours. I alrd agreed to cancel the sale and get back my full deposit. We have a spare car to use, getting a new one only coz it’s cheap and it’s more convenient. But without it I can make do.
 

Maybe after the cb deals are all cleared and there is no more pent up demand, see if coe and drop a bit and I’ll go shop ard again for a mazda3 or a civic. And no more kmc hahah

Wow! They offer to cancel or you proposed?

[Passion]

17 minutes ago, Juicyjuice said:

My SE said can cancel contract and refund deposit if I want. 

Wow.. you also another KMC? 

[Fcw75]

46 minutes ago, hungryjack said:

If 4k 1 bid guaranteed, I will take it. Or bargain for some freebies like throw in more servicing or cameras etc. Take it as a trade off

He already mentioned they will give him a ready Cat E COE. 

[Batmanbee]

25 minutes ago, Passion said:

Wow! They offer to cancel or you proposed?

They offered. Either top up or cancel for full refund, I chose the latter.

[james1055]

1 minute ago, Batmanbee said:

They offered. Either top up or cancel for full refund, I chose the latter.

If for me, I will choose to stay on until the last bid to see whether this AD genuine wants your sales from looking at how much COE they bid. 

[chewsj]

5 minutes ago, Batmanbee said:

They offered. Either top up or cancel for full refund, I chose the latter.

oh which AD is this? 10+k top up??

[Batmanbee]

4 minutes ago, james1055 said:

If for me, I will choose to stay on until the last bid to see whether this AD genuine wants your sales from looking at how much COE they bid. 

Dun see any point waiting on also, might as well get the deposit back first haha

[Batmanbee]

5 minutes ago, chewsj said:

oh which AD is this? 10+k top up??

kmc. They didn’t say how much to top up this time haha

[Outlander1990]

58 minutes ago, Juicyjuice said:

My SE said can cancel contract and refund deposit if I want. 

Which AD?

[13177]

11 minutes ago, james1055 said:

If for me, I will choose to stay on until the last bid to see whether this AD genuine wants your sales from looking at how much COE they bid. 

Who knows maybe coe will drop in the next few bids? Then AD should able to secure coe liao.

[Passion]

13 minutes ago, 13177 said:

Who knows maybe coe will drop in the next few bids? Then AD should able to secure coe liao.

10k bro. To drop 10k need how many iteration. Never in COE history there’s a drop in 10k. Only in 2008 in my memory.