COE Bidding – 1st Round of August 2020

[al13ns 1]

1 minute ago, mistedframe said:

Sorry just another dumb question because I am new to this. If the COE closes at 35k+ and I see my AD bid for me at 38k, does that mean that it's a guarantee that I get my COE? Or I might not if there are 1034 bids higher than my 38k bid. Thanks!

Mean you will get your COE, congrats!

[Quantum 1,945]

wah! still so high

[Pooty 78]

8 minutes ago, pengu said:

I kept to my words of not topping up. Will not top up as long as dealer margin is >$5k.

Hmmm but with today’s rise, the margin is fast dropping..... hmmmm

Then no car lo. Haha

[ToyotaShuttle 661]

22 minutes ago, Enye said:

wah...up again

those never top up and never get coe dont worry be happy

will have some mcfer come and analyze for you why coe prices will come down over the next few months

then you will get your new cars

😬🤣

Never get and never top up nvm. I see mcfers say they will just move on and buy something else.

[mistedframe 8]

Thanks all for your advice and replies! 

[13177 31,037]

20 minutes ago, pengu said:

Zzzzzz my dealer did not bid for me again. 
Did he even remember my sales contract?!?!

Took my $10k COE deposit and never do any work...... 

If never bid for you but still consider it a bid then ok, just wait all bids finished and take back the deposit and go elsewhere.

[Roh96 3,770]

3 minutes ago, Soundphile said:

Are the used car dealers doing that bad? usually the used cars would be traded in at near paper value. If they manage to sell one at 8-10K profit, it would easily offset the "loss" they made on other cars (if they were to scrap those at paper value). And if they choose to rent out the cars for a short stint before scrapping them, they would even make money out of it. $1.5K to $1.8K per mth for simple bread and butter car is very easily achievable.. 

You are right. They will take in your used car at close to paper value and convince you to believe that your car is machiam worthless, and then the next moment before you knew it, they market it with big mark up. It will be better if you are trading in a used car which is going to scrap soon. 

[ToyotaShuttle 661]

11 minutes ago, Soundphile said:

Are the used car dealers doing that bad? usually the used cars would be traded in at near paper value. If they manage to sell one at 8-10K profit, it would easily offset the "loss" they made on other cars (if they were to scrap those at paper value). And if they choose to rent out the cars for a short stint before scrapping them, they would even make money out of it. $1.5K to $1.8K per mth for simple bread and butter car is very easily achievable.. 

Anyone renting cars during 3 mths CB? During those few months, cannot rent out, cannot sell but still face depreciation expenses... jialat.

[Jamesc 171,065]

PM me for a good used car dealer. I recommend him but I don't get any commission. 

[Fcw75 66,460]

Just now, Jamesc said:

PM me for a good used car dealer. I recommend him but I don't get any commission. 

His name James? 😬

[Roh96 3,770]

5 minutes ago, ToyotaShuttle said:

Never get and never top up nvm. I see mcfers say they will just move on and buy something else.

I guess the problem that many buyers will face is that by the time they exit from 6 rounds of NG and start looking for something else, the prices across the board would have gone up quite a lot.

[Jamesc 171,065]

3 minutes ago, Roh96 said:

You are right. They will take in your used car at close to paper value and convince you to believe that your car is machiam worthless, and then the next moment before you knew it, they market it with big mark up. It will be better if you are trading in a used car which is going to scrap soon. 

Big mark up and reduce mileage. 

[colorfulmouse 32]

25 minutes ago, pengu said:

Zzzzzz my dealer did not bid for me again. 
Did he even remember my sales contract?!?!

Took my $10k COE deposit and never do any work...... 

all those who bought deals just before CB or right after CB, with non-G COE, and already into 4th or 5th bid,

for this group, the game is no top up, no car. can prepare to take back deposit.

[Jamesc 171,065]

1 minute ago, Fcw75 said:

His name James? 😬

See so many people know him here. He got a good reputation in MCF. 

But his MIL far more famous than him. 

[Jamesc 171,065]

Say from MCF and get a better price. 

[Sctl 1]

If the bid is put in by AD/PI, is it as individual or company? How do I see how much they bid for me?

[SinkiesFTW 1]

On 8/5/2020 at 7:26 PM, SinkiesFTW said:

I dont think coe will coming down alot la. 😌 singapore unemployment rate is quite robust. Even back in 2009 the unemployment rate is quite low. Still got alot people loaded to buy car one 😏 

 

Woots, in line with my expectation. Huat! 

My expectation for Sept COE will be that the COE will continue to rise 1K - 5K for CAT A and B, given that the asset prices are maintaining well.

People saying that "more work from home" and lesser people wanting car is bulls**tting themselves.

Edited August 19, 2020 by SinkiesFTW

[awhtc 1,759]

The bids versus quota is 2x for cars across the board. This is quite a strong demand. No top-up, no bid, no car.