COE Bidding – 1st Round of August 2020

[Jtbc]

On 8/23/2020 at 8:16 AM, Mkl22 said:

Cheers bro. Everything you said in this and the last 2 post is exactly what it is. You know how the system works. 
 

Thank you for understanding. Cheers !

[Lufu]

On 8/22/2020 at 9:03 AM, Fitmugen said:

COE now is probably a bit on the high side. $30k for CatA and $32k for CatB could be the steady state.
Car demand is inelastic. How many would give up their car just because they lost their jobs? On the other hand, you have new buyers who decide to get a car to avoid public transport.

Would be unrealistic to think COE will drop to low $20k level. If govt sense that is going to happen, they may prop it up with vehicle population cut. Raising revenue from car users is much more socially justifiable than other means like GST

gd pt. if one is looking to buy a car now, we can't say they are poor. Raising revenue thru car is way more acceptable than something like GST increases

[pengu]

7 hours ago, Lotr said:

The web page is

https://www.lta.gov.sg/content/ltagov/en/who_we_are/statistics_and_publications/statistics.html

The file is under Motor Vehicle > Car/Motorcycle cost

There is no direct link to the file, afaik.

 

 

Thanks, I didn’t know they have such a informative page.

One thing that caught my eye was the registration by brand in July 2020.

The top brand is Mercedes, followed by Toyota, Honda and BMW.

Hmmm, with so many Merc and BMW registered in July, no wonder the COE gets pushed up. Merc and BMW dealers should have no issue bidding highly with their huge margins.

Maybe COE will fall in Sept after these luxury car dealers clear their backlog in July and those who top up get their COE in Aug. Sept will be the time those who bought cheap cars and don’t top up gets their COE 🙂

[Lotr]

Whenever COE is high, the top sellers will be the Germans. Proven time and again. There were also several newspaper reports and recently a more in depth writeup on this phenomenon.

Guess buyers of these makes are less affected by economic downturns.

 

[Lufu]

59 minutes ago, Lotr said:

Whenever COE is high, the top sellers will be the Germans. Proven time and again. There were also several newspaper reports and recently a more in depth writeup on this phenomenon.

Guess buyers of these makes are less affected by economic downturns.

 

Buy a Merc/Audi/BMW e.g. $200K. COE $35K is a small percentage. 

Whereas e.g. a mitsubishi attrage, Vios. The COE cost is more than 50% of the car. Someone mentioned earlier they got a really good CB deal $55K Attrage incl COE. 

Edited August 24, 2020 by Lufu

[JQ01]

On 8/21/2020 at 9:40 PM, Mkl22 said:

"these mostly will now end up scrapping towards end of this year ... 4Q to 1Q21 then the COE will reappear"

i'm disagreeing  with the above. i would say many have already scrapped their 2005 registered with renewed with 5year coe in 2015, long before 2020. likely when coe dropped in 2018/19. only very few would have held on till 2020 at the end of their 5year coe.

We can infer.

2015, 10-11years old = 9561 (based 100%) 

2016, 11-12years old = 9378 (~98%)

2017, 12-13years old = 8728 (~91%)

2018, 13-14years old = 6677 (~79%)

2019, 14-15years old = 4728 (~49%)

As the car gets older, the % of cars scrapped early is increasing, but still some 49% has not.

[Mkl22]

8 minutes ago, JQ01 said:

We can infer.

2015, 10-11years old = 9561 (based 100%) 

2016, 11-12years old = 9378 (~98%)

2017, 12-13years old = 8728 (~91%)

2018, 13-14years old = 6677 (~79%)

2019, 14-15years old = 4728 (~49%)

As the car gets older, the % of cars scrapped early is increasing, but still some 49% has not.

https://www.lta.gov.sg/content/dam/ltagov/who_we_are/statistics_and_publications/statistics/pdf/Annual_COE_Revalidation.pdf

also more than 3times as many cars renewed for 5 vs 10years. 

[Vlsc]

20 hours ago, Lotr said:

The web page is

https://www.lta.gov.sg/content/ltagov/en/who_we_are/statistics_and_publications/statistics.html

The file is under Motor Vehicle > Car/Motorcycle cost

There is no direct link to the file, afaik.

 

 

Does This gets refreshed after every bidding? We can only get July cost of car  info and not past info anm? 

[Lotr]

3 hours ago, Vlsc said:

Does This gets refreshed after every bidding? We can only get July cost of car  info and not past info anm? 

The car cost pdf file?  It is updated once a month and not every bidding.

The web page only have the link to the previous month's data. There are no links to past info.

Edited August 24, 2020 by Lotr

[Philipkee]

On 8/24/2020 at 12:23 AM, Lite said:

Link to the car cost pdf file on the onemotoring site like this one.

 

 

34 minutes ago, Lotr said:

The car cost pdf file?  It is updated once a month and not every bidding.

The web page only have the link to the previous month's data. There are no links to past info.

Actually @Carbon82 maybe these can be linked to the top of every new coe thread?  Might be interesting for those who wanna bid and are waiting.  And also for people to see if the good deals they have might actually get them the car.

[Aaronic888]

On 8/20/2020 at 3:11 PM, Batmanbee said:

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

Went down to AD over the weekend and was offered the same. Top up 10k or more for a better chance or cancel for full refund. I went for the latter so that we can move on. 

@BatmanbeeDid you sign any paperwork for cancellation of order already? 

[Sunshineboy911]

1 hour ago, Aaronic888 said:

Went down to AD over the weekend and was offered the same. Top up 10k or more for a better chance or cancel for full refund. I went for the latter so that we can move on. 

@BatmanbeeDid you sign any paperwork for cancellation of order already? 

Can get full refund even without completing 6 bids? I’m thinking of withdrawing too so that I can start hunting for new deals. Did you call your SE before heading down? 

[Aaronic888]

28 minutes ago, Sunshineboy911 said:

Can get full refund even without completing 6 bids? I’m thinking of withdrawing too so that I can start hunting for new deals. Did you call your SE before heading down? 

That's what we were told. Can get full refund without completing 6 bids. Yep we informed first before heading down 

[Correctorwrong]

1 hour ago, Sunshineboy911 said:

Can get full refund even without completing 6 bids? I’m thinking of withdrawing too so that I can start hunting for new deals. Did you call your SE before heading down? 

How does the refund process work? They pay you back via cheque? I made a small partial payment via credit card. 

[Juicyjuice]

2 minutes ago, Correctorwrong said:

How does the refund process work? They pay you back via cheque? I made a small partial payment via credit card. 

I made all via credit card. Jialat. I think will refund back to credit card. Probably have to call bank and see what can be done.

[Sunshineboy911]

41 minutes ago, Juicyjuice said:

I made all via credit card. Jialat. I think will refund back to credit card. Probably have to call bank and see what can be done.

Wah sian, I paid full CC also. Refund back to CC then really icecream liao 😴 

[Batmanbee]

3 hours ago, Aaronic888 said:

Went down to AD over the weekend and was offered the same. Top up 10k or more for a better chance or cancel for full refund. I went for the latter so that we can move on. 

@BatmanbeeDid you sign any paperwork for cancellation of order already? 

My SE processed it for me and said the refund will be credited to my credit card. No paperwork involved.

[Pplater]

Bank can transfer from credit card back to your bank account. Not an issue.