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COE Bidding – 1st Round of September 2020


Carbon82
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49 minutes ago, bennyp14 said:

I agree with the general concensus that the COE will go down after the next 2 bids.

However, I have not factored this in until an AD told me that in Japan, the production line has take a hit due to COVID resurgence.

I am not an economist, but if this scenario come in, we will have a lock stock, low economy but potentially high COE Quota in Nov - Jan(according to LTA projections). So it will be interesting to see how these opposing market forces weigh up.

 

Please lah our market so small compare to global stocks we are just a drop in the ocean 

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I think the COE will go up this month for both CAT A & B to clear up the CB orders, this month will be the last 2 bids for NG 6 bids. I believe ADs & PIs will go all out to secure for those customers that top up.

For me personally, I did book a car during CB because of the attractive pricing. Wanted to try try and oh boy, I really kena "The Power to Surprise". Need to top up $10K for last 2 rounds of COE bidding. I told my SE, nevermind don't waste time and the company can refund me the deposit. Afterwhich, I went ahead to book a CAT B Conti over the weekend instead because of the news regarding COE supply set to increase over Nov 2020 to Jan 2021 period due to July deregisteration. Thus, more COE quota for CAT B especially where I made the call to just "lut" only. 😁

For those that do not need a car urgently and can wait, Nov to Jan 2021 can try again. Already waited 2 months and 4 bids, wait 1 more month and 2 more bids lor! For me I was already numb when I saw the COE amount that my AD bidded for me. By now used to it already! Hope everyone can get their car soon!

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4 hours ago, bennyp14 said:

I agree with the general concensus that the COE will go down after the next 2 bids.

However, I have not factored this in until an AD told me that in Japan, the production line has take a hit due to COVID resurgence.

I am not an economist, but if this scenario come in, we will have a lock stock, low economy but potentially high COE Quota in Nov - Jan(according to LTA projections). So it will be interesting to see how these opposing market forces weigh up.

 

 

 

 

Book those cars that are in stock stored at warehouses or feeling lonely at the ports here in Singapore! 😁

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6 hours ago, HarimaBoozie said:

I think the COE will go up this month for both CAT A & B to clear up the CB orders, this month will be the last 2 bids for NG 6 bids. I believe ADs & PIs will go all out to secure for those customers that top up.

For me personally, I did book a car during CB because of the attractive pricing. Wanted to try try and oh boy, I really kena "The Power to Surprise". Need to top up $10K for last 2 rounds of COE bidding. I told my SE, nevermind don't waste time and the company can refund me the deposit. Afterwhich, I went ahead to book a CAT B Conti over the weekend instead because of the news regarding COE supply set to increase over Nov 2020 to Jan 2021 period due to July deregisteration. Thus, more COE quota for CAT B especially where I made the call to just "lut" only. 😁

For those that do not need a car urgently and can wait, Nov to Jan 2021 can try again. Already waited 2 months and 4 bids, wait 1 more month and 2 more bids lor! For me I was already numb when I saw the COE amount that my AD bidded for me. By now used to it already! Hope everyone can get their car soon!

What if your first AD decides to push through the sale?

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1 hour ago, hungryjack said:

What if your first AD decides to push through the sale?

He already requested for refund.
KMC is refunding ppl who booked during the CB period.

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1 hour ago, SedanFTW said:

He already requested for refund.
KMC is refunding ppl who booked during the CB period.

This KMC the name surely smelly after now.... I hear a lot of refunds case from them. 

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8 minutes ago, Passion said:

This KMC the name surely smelly after now.... I hear a lot of refunds case from them. 

Based on fellow forumers feedback, it seems that KMC is really ridiculous right?
I mean, after top up of 10k or more, basically the price that they will pay is equal to the price they get if they enter the market today.
Top-up only make sense if even after topping up, we are still a lot better off than the current market. I.e. AD should sacrifice their profit one way or the other if they need ppl to top-up.

Furthermore, it's ridiculous that 10k top-up is just to increase the "chance" to get the car, is not even guaranteed or anything.

However, if you see it from another perspective, it could also mean that their margins is very low, and hence as long as you're willing to pay that lvl of COE, you're getting a pretty reasonable deal?

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9 minutes ago, Passion said:

This KMC the name surely smelly after now.... I hear a lot of refunds case from them. 

KMC is the root cause after all. Seems like they are the main problem here. LOL 

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29 minutes ago, SedanFTW said:

However, if you see it from another perspective, it could also mean that their margins is very low, and hence as long as you're willing to pay that lvl of COE, you're getting a pretty reasonable deal?

If that’s the case then they have to prepare to lose their market lo.. i mean other jap and Korea brand also have low margin of profit and they are able to fulfill (and i see why many go for PI now). If the margin is so low, then they should negotiate for lesser dealership commission then 😛?  

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9 minutes ago, Lalaland01 said:

If that’s the case then they have to prepare to lose their marker lo.. i mean other jap and Korea brand also have low margin of profit and they are able to fulfill (and i see why many go for PI now). If the margin is so low, then they should negotiate for lesser dealership commission then 😛?  

Question is, what do you mean by "low margin"?

Is 10k considered low? Or 5k considered low?
Personally, I think that if KMC is expecting ppl to top-up to the extend where they can earn around 5k, it's still fairly reasonable. 
But it seems that they want to maintain their margin as compared to a new car sales. That, is not entirely acceptable.. 

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43 minutes ago, Passion said:

This KMC the name surely smelly after now.... I hear a lot of refunds case from them. 

Well at least they refund before the 6 bids are up and the buyer can move on?

I mean imagine you really need a car soon and want to move on but KMC does not want to refund till the 6 bids are up (who don't want free interest).

Then you are stuck and can't move on till the 6 bids are up. If you decide to take the risk and go book another car from someone else thinking unlikely KMC will fulfill the deal.

And you got both cars....

Just a thought, I mean at least there is a silver lining? 

Think on the bright side, I really think at least they hold on to your deposit for the full 6 bids, which they could? They let everyone move on from this bad judgement call?

 

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1 hour ago, Calvin8808 said:

Well at least they refund before the 6 bids are up and the buyer can move on?

I mean imagine you really need a car soon and want to move on but KMC does not want to refund till the 6 bids are up (who don't want free interest).

Then you are stuck and can't move on till the 6 bids are up. If you decide to take the risk and go book another car from someone else thinking unlikely KMC will fulfill the deal.

And you got both cars....

Just a thought, I mean at least there is a silver lining? 

Think on the bright side, I really think at least they hold on to your deposit for the full 6 bids, which they could? They let everyone move on from this bad judgement call?

 

then again those who didn't get the car from KMC cause of the coe/price/whatever reasons, can only say "too bad" cause they are some others who really managed to get their cars at a very good price when Cat A coe was hovering ard 30k pre-CB, those were the best time to buy. 

after all, what goes up will have to come down, just wait it out if the person can afford to. car is after all a luxury and not necessary a necessity in SG context and there is always the used car market where there can be good bargains every now and then. 

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8 minutes ago, ferrytales said:

then again those who didn't get the car from KMC cause of the coe/price/whatever reasons, can only say "too bad" cause they are some others who really managed to get their cars at a very good price when Cat A coe was hovering ard 30k pre-CB, those were the best time to buy. 

after all, what goes up will have to come down, just wait it out if the person can afford to. car is after all a luxury and not necessary a necessity in SG context and there is always the used car market where there can be good bargains every now and then. 

Yes, it's just a unfortunate bad judgement call and everyone just move on from here.

I totally agree that car is a luxury and not a necessity in Singapore with our good public transport system and small nation.

Especially that a lot of us are WFH for now and don't really need a car now.

So actually if not urgent really should wait a bit till year-end.

But if cannot wait, then bo pian expensive or bo hua also LL 

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14 minutes ago, ferrytales said:

then again those who didn't get the car from KMC cause of the coe/price/whatever reasons, can only say "too bad" cause they are some others who really managed to get their cars at a very good price when Cat A coe was hovering ard 30k pre-CB, those were the best time to buy. 

after all, what goes up will have to come down, just wait it out if the person can afford to. car is after all a luxury and not necessary a necessity in SG context and there is always the used car market where there can be good bargains every now and then. 

True.. when it have to come down, it will.. based on history, COE can drop 5-6k suddenly and suddenly shot up 10K. So...  is unpredictable. Just hope miracles happen for my CB deal. I know they need that margins too.. Haha...  

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1 hour ago, Calvin8808 said:

Well at least they refund before the 6 bids are up and the buyer can move on?

I mean imagine you really need a car soon and want to move on but KMC does not want to refund till the 6 bids are up (who don't want free interest).

Then you are stuck and can't move on till the 6 bids are up. If you decide to take the risk and go book another car from someone else thinking unlikely KMC will fulfill the deal.

And you got both cars....

Just a thought, I mean at least there is a silver lining? 

Think on the bright side, I really think at least they hold on to your deposit for the full 6 bids, which they could? They let everyone move on from this bad judgement call?

 

That’s what the champion is doing. They didn’t even offer to refund. End of 2nd bid, ask buyer to top up $9.5k. Got turned down, then no news until now. Tomorrow 5th bid. At least KMC offer to refund. 

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