COE Bidding – 1st Round of August 2020

[Pooty]

32 minutes ago, SedanFTW said:

Depends.. For my case, my AD actually offered G-bid top-up after 1st bidding of July.
I naively think that COE price will drop rather than falcon up... So I chose not to top-up..

So, if it's Guaranteed, then I will hv no qualms in encouraging other ppl to top-up as well.. Haha

(Anyway, I have neither advise nor dissuade ppl from topping up).

Would you say that any of the COE Professors here in this forum influenced your outlook that COE would crash after “backlog” is cleared? I saw many PhD thesis on the COE multiplied by dy/dx with economy plus pi-r-squared Donald Trump.

🤪

[Pooty]

7 minutes ago, pengu said:

On the other hand, we see the AD fulfilled Attrage at $55k few posts ago, which means the AD decided to make a $5k loss from the sales (not even including the servicing and warranty) 😅

But then again, Avante seems to be quite a popular car, so I doubt the AD will have any issue selling it to the next person and rather than make a loss from the CB sales....

That’s my friend hahahaha - I was damn surprised too. Technically she sell immediately may still have chance to make money.

First person in SG to sell a B&B compact Nippon sedan at 2nd hand and make a profit.

🤪

[Fcw75]

8 minutes ago, pengu said:

On the other hand, we see the AD fulfilled Attrage at $55k few posts ago, which means the AD decided to make a $5k loss from the sales (not even including the servicing and warranty) 😅

But then again, Avante seems to be quite a popular car, so I doubt the AD will have any issue selling it to the next person and rather than make a loss from the CB sales....

They were clearing stock for the Attrage. The Facelift is here so why keep the pre FL in their warehouse? Might as well clear them. 

[Vinceng]

5 minutes ago, Pooty said:

That’s my friend hahahaha - I was damn surprised too. Technically she sell immediately may still have chance to make money.

First person in SG to sell a B&B compact Nippon sedan at 2nd hand and make a profit.

🤪

Your friend is already $5K richer before she collects her new Attrage. 😁😁

https://www.sgcarmart.com/used_cars/info.php?ID=905184&DL=1000

[Batmanbee]

1 hour ago, Dango said:

 

@Vinceng I hope you are right.

@Batmanbee I'm buying it for family use and I don't own a car now. There is a sales, I bought into it because it's a good deal.
Not knowing I will be put in this situation of almost paying a pre-Covid price. I see the car as a convenience and good to have.
If it's blowing my budget, I better use my money somewhere else.

I think if u bought it as a good deal and it’s not a must have, if it turned out to be not so good a deal, i think it’s alright to let go, which is my case haha

 

[Jamesc]

Clear old stock and people want to compare with new model price.

 

[Aristotle]

I guess it all depends on needs. As someone mentioned, if there is no real need for a new car, you prob won't top up. Eg. My wife did have 2nd thoughts when she signed for Attrage before CB. Back then COE about $30k. Then first bidding (before CB) rose slightly, but AD start to ask for 2K top up. Of course no one in their right mind will top up 2K for slight increase. Then that's when he told us about the new FL model. Not my bloody dai ji, to be honest. So told my wife not to give in. Anyway, her current car still have at least 2 years. So no biggie if she doesn't get it. 

As for myself, I took the PI route and got the car in July 2nd bidding, guaranteed COE. My car was the super high COE of the 2015 period. So didn't want to wait so long for PI to slowly bid for me, at their mercy 😅

[LGmonitor]

1 hour ago, Dango said:

After so many posting here.
It seems like KMC is offering multiple buyers to cancel their contracts.
Is it only KMC?

So what is the deal here? buyer cancel and they can sell the same car at a higher margin before the COE high rocket?

 

Dont know whether C&C has got COEs for the bookings during CB period. 

Some of the brands/models distributed by them had very aggressive promotions during CB.

 

[Spurman]

Boh pian. Cb time 3 mths no bidding. And for a long time nobody knows whats the plan on the coe after cb to be distributed out lor.

Killer factors.

1. Spread the 3 mths. 6 bids coe into 12 mths. Or 24 times. 

2. Announcement of the zero growth again. Being emphasised. All buyers become kan cheong.

3  the lack of clarification of the above 2 or no news on th3se 2 news in april n may makes dealers n buyers guessing and guessing and guessing and guessing.

4. Touch your heart to those who book during the cb times with these deals. Did u all expect coe to rise after cb one?

[Timon]

1 hour ago, LGmonitor said:

Dont know whether C&C has got COEs for the bookings during CB period. 

Some of the brands/models distributed by them had very aggressive promotions during CB.

 

I got my COE successfully yesterday thru CnC and the booking was placed during CB. The rebate was at $21k and was surprised to secure it yesterday.

[Juicyjuice]

5 minutes ago, Timon said:

I got my COE successfully yesterday thru CnC and the booking was placed during CB. The rebate was at $21k and was surprised to secure it yesterday.

Congrats! May I know which car?

[james1055]

21 minutes ago, Timon said:

I got my COE successfully yesterday thru CnC and the booking was placed during CB. The rebate was at $21k and was surprised to secure it yesterday.

Congratulations!!!

 

[yishunite]

4 hours ago, Kranjipioneer said:

You missed out one thing in your analysis. There were many who renewed COE 5 years ago and now near expiring. 

https://www.google.com/amp/s/www.businesstimes.com.sg/transport/more-small-car-owners-renewing-their-coes%3famp

 

Edit : My bad. Reply meant for Pplater

Correct. My mothers 2005 Vios expiring end of this year and there are many many in this category who got super good deal COE back in 2005 but found 2015 COE price too steep to renew 10 years esp for 10yo car.

You see the 2005 glut compare with the 2015 supply u can see so many ppl renewed rather than scrap ... these mostly will now end up scrapping towards end of this year ... 4Q to 1Q21 then the COE will reappear

 

4 hours ago, Pplater said:

Edited August 20, 2020 by yishunite

[SedanFTW]

3 hours ago, Pooty said:

Would you say that any of the COE Professors here in this forum influenced your outlook that COE would crash after “backlog” is cleared? I saw many PhD thesis on the COE multiplied by dy/dx with economy plus pi-r-squared Donald Trump.

🤪

Nah, it's not about that..
It's my own outlook that COE will drop after CB, as there is deep recession.. Cars in general are not a necessity in Sg..
However, I was inexperienced and didn't know that the quota is actually very low for 2020.. Also, I didn't expect August - Oct quota would drop so significantly.

Anyway, my view is still the COE price should drop in November as the cars that intend to deregister during CB period can only be deregistered after. So, quota should slightly increase, and should help easing the pressure.. However, some forumer has posted that available quota could be even lower..

So, conclusion is, I don't know anything! 

[pengu]

4 minutes ago, yishunite said:

Correct. My mothers 2005 Vios expiring end of this year and there are many many in this category who got super good deal COE back in 2005 but found 2015 COE price too steep to renew 10 years esp for 10yo car.

You see the 2005 glut compare with the 2015 supply u can see so many ppl renewed rather than scrap ... these mostly will now end up scrapping towards end of this year ... 4Q to 1Q21 then the COE will reappear

That’s correct.

Based on this, https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/MVP01-3-1_Cars_by_age.pdf

Theres a huge jump in cars aged 13 to 14 last year, which means if those have 5 years COE, they will expire this year or next.

However, due to a lag, these COE will only appear from next year onwards, unless they deregister early. 

[Pplater]

9 minutes ago, yishunite said:

Correct. My mothers 2005 Vios expiring end of this year and there are many many in this category who got super good deal COE back in 2005 but found 2015 COE price too steep to renew 10 years esp for 10yo car.

You see the 2005 glut compare with the 2015 supply u can see so many ppl renewed rather than scrap ... these mostly will now end up scrapping towards end of this year ... 4Q to 1Q21 then the COE will reappear

 

Fair Point! I didn't know about that. Those additional 200+ or 300+ COEs should make a difference, provided we assume they haven't already got sick of making repairs in the previous  1 or 2 years and scrapped it when COE was lower. If almost all these vehicles scrap in this period, plus the pent up scrap vehicles from lockdown period roll over to July-Sept, the quota for Nov to Dec may be 10-25% more than first half of the year. Perhaps COE might return to sub 20k levels. If this happens, I can live with it. Already signed the sales contract today. If it goes down half year down the road, so be it, if it goes up then i got a good deal.

[Jamesc]

But if people scrap their cars.

The most important question is

they will buy a new car or not?

If not buy many extra COEs.

If they buy then its no extra.

[Pplater]

Next year Feb onwards, quota will reduce by another 100. But 300 from scrapped vehicles enter. Its like 3 steps forward 1 step back. For those waiting, maybe don't wait beyond Jan. And keep your fingers crossed. This type of prolonged anticipation bad for my heart so i go in first liao. Good luck to all in getting their best prices.