COE Bidding – 1st Round of September 2020

[BanCoe]

2 hours ago, Stevenv1 said:

I got my COE from them yesterday, the 6th bid. I signed with them in Jul. But this is after topping up $15k. Previously I took a NG which I quoted myself at $24k, rebate at $22k. I top up $15k to change to a guaranteed one at $39k. ‘Luckily’ the COE ended close to $41k. Otherwise, ‘lose’ more money. COE is already losing money for us from day 1.

just out of curiosity .... what make of car is this??? 

[mbt2015]

First timer on NG COE. 

I booked a CAT B car in Aug, COE is 38K at that time. I saw the recent 2 bids that my AD put in are both $35K. At the current COE level, I will probably exhaust my NG bids in two months time. Does AD has a fixed bidding value based on the selling price?

[BananaSenpai]

13 minutes ago, mbt2015 said:

First timer on NG COE. 

I booked a CAT B car in Aug, COE is 38K at that time. I saw the recent 2 bids that my AD put in are both $35K. At the current COE level, I will probably exhaust my NG bids in two months time. Does AD has a fixed bidding value based on the selling price?

Generally AD does have an idea in mind on how much they will bid for your COE when they quote your car purchase. In your case it seems like its in the 35k range though. Since your purchase is based on NG COE, highly likely they will call you up to see if you wish to top up if the COE does not drop to the 35k +/- range. 

Also, from the other bros here, it seems like CAT B COE might hover in the 40k range for quite some time and perhaps drop down in price towards the end of the year.

[Wolfverine]

Looking across the price movements between June and now for couple of makes (BMW and Merc) and the price increase is about $13k-$15k. Thus, topping up amounts within this range is not considered unusual?

[Jtbc]

 

On 9/21/2020 at 4:15 PM, Philipkee said:

Cat A drop to $30k and I will ahem ahem my ahem

When is 40k, dream on 30k.

When is 20k, dream on 10k.

On 9/21/2020 at 6:21 PM, fatmond said:

I'm dreaming of 30k COE too 😞 only start considering getting car after CB and missed the golden opportunity last year when it's 2xk 

 

 

[Stevenv1]

3 hours ago, disr said:

wow that’s a pretty aggressive top up. care to share which brand?

Japanese car ah, Honda Freed 2020 facelift.

58 minutes ago, BanCoe said:

just out of curiosity .... what make of car is this??? 

I bought a Honda Freed 2020 facelift. My car of 15 yrs and the COE ending very soon. So I don’t have much time to get a replacement.

[Stevenv1]

2 hours ago, Ct3833 said:

Top up 15k is a lot of incremental. Anyway Slsince you have topped up to a guaranteed COE, you should have no worries  regardless the COE price , why have to worry about lossing more money if COE  goes up ?

I worried because I scare the COE crash. There is no rebate if the COE crash. I paid $39k for it. I don’t want to end up with a COE with face value of $30k for example. I was betting for it to crash earlier on but it didn’t.. Hai.

[fatmond]

7 minutes ago, Jtbc said:

 

When is 40k, dream on 30k.

When is 20k, dream on 10k.

 

Like one bro here. Still looking at city...

[Stevenv1]

3 hours ago, PaulMeng said:

Remember to check your CAR COE value when your CAR is registered with LTA. This is to check if they have use other COE category or their on hand COE for your CAR

Yes, noted. Thank u for highlighting.

[LBC]

AD secure my COE on yesterday bid and was my final bid as well (agreement on 6th bid guaranteed w/o top up)
I booked in end June, 71K (30k COE) for Honda FIT Hybrid 🙂 

Edited September 24, 2020 by LBC

[Jtbc]

23 hours ago, Spring said:

This perhaps partially answers why COE goes up and also why some of the b&b cars were unable to secure COE and were called all sorts of names here.

The 2 big German premium brands hv a bigger margin than b&b Jap n Korean brands n thus they can bid much higher to secure the COE and they can also offer overtrades etc. Those not in the know think they are angels, 1 shot, 1 kill COE bid and offering much higher trade in for Used Cars. So in short, the perfect brands to buy or are they? Go and calculate and see for yourself if worth or not. I'm not saying it's not always worth it but just that be mindful why they have overtrades, 1 shot 1 kill COE bid. 

By the way, not targeting at u, just using your post to emphasize a point.

Footnote: In the old days, Benz n BMW were almost exclusively Cat B cars, now they both have plenty of Cat A choices.

 

As mentioned, conti car sales can be used as an indicator on COE price.

As it has big margin to cover COE bidding. Bnb buyers are forced to top up to grab the limited quota.

When the top up gap is close to buying a conti car, buyers will switch thus all things will move up.

Buyers are the one who push up the price(payer). Dealers just the manipulator, as long as they close deal they win.

As long as the conti car sales is strong, COE will remain on the high side.

Part of the reason on high demand is rich buyers have been waiting for the opening of car sale after the CB. It will slow down eventually.

Just for discussion.

Edited September 24, 2020 by Jtbc

[Jtbc]

Buyers should work out the cost price and dealer margin.

As this is the factor that determine what is your chances of getting your COE.

Dont be happy to get cheap deal as most likely you will get your refund back.

NG COE is to protect the dealers from unexpected change in COE direction so they can call off the deal without losts.

G COE comes with a price. Hence buyer should judge on their own.

All agreement should be mutually agreed and pened down in your agreement letter.

It is better to indicate the last COE bidding date and refund details.

Just for discussion.

[Pplater]

13 hours ago, Kia7200 said:

The demand for new cars r still so strong. After this pandemic n Coe quota further reduction in 2021, guess the Coe premium will be back to 50-70k liao

2021 to 2025 are the lean years. Even buying now doesn't seem too bad a deal. Once this boat sails, there's no coming back. It won't be the first time we saw 130k BnB car ads. 

In those years, u might wish u caught this boat. It won't be a good time to buy new again until 2017 because it takes time for coe prices to drop. And 2nd hand dealers will follow suit to inflate used car prices at the same time.

Edited September 24, 2020 by Pplater

[fatmond]

1 hour ago, LBC said:

AD secure my COE on yesterday bid and was my final bid as well (agreement on 6th bid guaranteed w/o top up)
I booked in end June, 71K (30k COE) for Honda FIT Hybrid 🙂 

Think you're referring to PI, 71k is a really good deal for fit hybrid, congrats

[james1055]

38 minutes ago, fatmond said:

Think you're referring to PI, 71k is a really good deal for fit hybrid, congrats

1.5 hybrid Fit or 1.3?

[LBC]

9 minutes ago, james1055 said:

1.5 hybrid Fit or 1.3?

1.5 Hybrid Fit

[Shoebox]

https://coe.sgcharts.com/

COE prices are currently quite low, if you look at the last 10 years. Already starting to rebound liao.

15k top up for COE sounds like a lot, but it is a lppl move because price unlikely to reverse trend and dive?

[Ho2786]

$80k COE coming next year.