COE Bidding – 1st Round of October 2020

[Calvin8808]

1 hour ago, fatmond said:

lets say sctl (im not the one whom prayed COE to raise hor) took a 6 bids G COE, COE had since raised about 4-5k, if it continue to raise,  its a good 5-6K increase in paper value, that's 2.5-3K more when he/she sell the car 5 years down the road.. 3k cash not much difference ?😆😆😆😆😆 

Based on current COE, it definitely wont drop to rebate level 

if you're wishing COE to drop and gonna go shi ma lu temple to da xiao ren for those wishing COE to raise, im not the 1, dont whack the wrong person 😝😝

I know you are not the one praying hard. But I was asking that qns to one of the bros here who is praying hard. But you reply so I address it to you.

I do not have anymore vested interest in the COE as I gotten my car. 

When you sell the car 5 years later you won't get more just because your paper value higher.

For example say Car A gotten COE in Sep 1st bid, and Car B gotten in Sep 2nd bid but bot cars only register on 30 Sep. 

Car A COE is $6K more than Car B. 5 years later...both car which is the same brand, make, condition and same date of registration are for sale.

But because Car A has a higher paper value of $3K ($6K/10*5). Will you buy $3K more for Car A? Or will you take Car B which is $3K lower? 

You will only see this $3K when you scrap the car in the 5th year, then you will get the $3K more in COE rebate. 

But what are the chances you will scrap the car in 5 years instead of selling or trading in? That's why I say practically not much benefits. 

Edited October 6, 2020 by Calvin8808

[Calvin8808]

1 hour ago, fatmond said:

higher COE will have higher depreciation and in return higher value ?

not sure, had not sold a car but that's the info I learned from the forum (when selling car, dealer will just pay slightly higher than paper value)

Higher COE will not have higher depreciation if you selling at same price using the Car A and Car B example. But because your paper value is higher by $3K and you want $3K more so your selling price is higher by $3K, your depreciation is higher. It's the selling price. 

That will happen when you scrap the car or trade in the car when your car left maybe 1 year or few months.

And it usually happens to conti. Like if you trade in a BMW with few months left, usually the trade in price is based on paper value. But that only applies to car with few months left. So say the car got 6 months left, the difference will be at $300 ($6K/120*6)

Edited October 6, 2020 by Calvin8808

[Calvin8808]

1 hour ago, Sctl said:

Gosh please don’t read too much Into it. It’s just the feel good factor that that dealer is earning less for his profit margin. 

Which is why I asked why pray hard for people to do not so well?

I mean especially when it's not going to benefit me drastically, indirectly it's like praying that people don't do well. 

Whether the dealer earn more or less or even make loss is not going to affect me as I already committed to this price and G-COE package. So what happen to the COE price doesn't affect me. But praying hard for the price to go up...the AD might be making loss or less profit, those on NG-COE might not get their cars, those waiting to buy because they really need it for some reasons but might not be able to afford might be priced out.

 

 

[fatmond]

12 minutes ago, Calvin8808 said:

I know you are not the one praying hard. But I was asking that qns to one of the bros here who is praying hard. But you reply so I address it to you.

I do not have anymore vested interest in the COE as I gotten my car. 

When you sell the car 5 years later you won't get more just because your paper value higher.

For example say Car A gotten COE in Sep 1st bid, and Car B gotten in Sep 2nd bid but bot cars only register on 30 Sep. 

Car A COE is $6K more than Car B. 5 years later...both car which is the same brand, make, condition and same date of registration are for sale.

But because Car A has a higher paper value of $3K ($6K/10*5). Will you buy $3K more for Car A? Or will you take Car B which is $3K lower? 

You will only see this $3K when you scrap the car in the 5th year, then you will get the $3K more in COE rebate. 

But what are the chances you will scrap the car in 5 years instead of selling or trading in? That's why I say practically not much benefits. 

thanks for the info! guess its not as straight forward as i though when it comes to selling/trading in car 

just to be sure no one mistaken I was the one praying for higher COE, i dont want to roll down the stairs for no reason 😝

[Calvin8808]

9 minutes ago, fatmond said:

thanks for the info! guess its not as straight forward as i though when it comes to selling/trading in car 

just to be sure no one mistaken I was the one praying for higher COE, i dont want to roll down the stairs for no reason 😝

No worries we know your are not.

I mean I'm just chit chating for fun also. It doesn't affect me whether it goes up or down

[tjyand]

 

21 hours ago, Sctl said:

Praying very hard for Cat A to go up and up, past 40 best! On my last but guaranteed bid. 

 

54 minutes ago, Calvin8808 said:

Which is why I asked why pray hard for people to do not so well?

I mean especially when it's not going to benefit me drastically, indirectly it's like praying that people don't do well. 

Whether the dealer earn more or less or even make loss is not going to affect me as I already committed to this price and G-COE package. So what happen to the COE price doesn't affect me. But praying hard for the price to go up...the AD might be making loss or less profit, those on NG-COE might not get their cars, those waiting to buy because they really need it for some reasons but might not be able to afford might be priced out.

 

 

praying hard for Cat A COE (which might be used by families with a real need to get a car to move around) to go up beyond 40k such that consumers lose out (increased costs get passed onto us), and dealers lose out (bearing increased costs) is like, wow... hard to understand how people can think that way. Why think that way when no one benefits except the govt?  

Edited October 6, 2020 by tjyand

[skieboard]

25 minutes ago, tjyand said:

 

 

praying hard for Cat A COE (which might be used by families with a real need to get a car to move around) to go up beyond 40k such that consumers lose out (increased costs get passed onto us), and dealers lose out (bearing increased costs) is like, wow... hard to understand how people can think that way. Why think that way when no one benefits except the govt?  

Higher COE registered means a higher paper value for his car, since he has a G-COE package on its last bid.. it's beneficial when he's trying to sell the car or scrapping it near the end of its life.. benefit is marginal but certainly non-zero.

[disr]

parking here as well. finally got my car last friday after 6 bids from CB deal. see if i can learn more from everyone

Edited October 6, 2020 by disr

[Sdf4786k]

On 10/5/2020 at 8:38 AM, Passion said:

Up up and away. November then start the down trend...

May not be because nov Dec usual tour begins .. now with lockdown May not drop unless major shift in the environment 

[loliamsmart]

Up across all meows 😸. Best case scenario it maintains +- $200

[tjyand]

19 minutes ago, skieboard said:

Higher COE registered means a higher paper value for his car, since he has a G-COE package on its last bid.. it's beneficial when he's trying to sell the car or scrapping it near the end of its life.. benefit is marginal but certainly non-zero.

you said it yourself, benefit to him is marginal. but how about the negative impacts to consumers and the rest of the industry? for e.g. if COE goes up by 10k, the consumers and ADs will bear the  full 10k increase collectively, while the benefit to him is a 10k extra paper value which:

• will at most be 5k in the very unlikely event the car is scrapped after 5 years (who would scrap a car at paper value when you can sell it for higher 99.99% of the time) 
• will not make a difference to the take-in price in the much more likely event  the car is sold to a second hand car dealer / direct sale to buyer because dealers look at depre, not paper value of the COE

I mean, its dog eat dog out there, but to be "praying very hard" for a price increase with marginal benefits to you while impacting everyone else out there so much more is... capricious at best. 

Oh and I am not affected by any increased COE price (I have already booked and registered a car so a sustained increase in COE would even vindicate my booking and make me feel better in the long term), but I would never wish such harm on others in return for minimal benefits on my end.    

[fatmond]

2 hours ago, james1055 said:

Yes you right, normally trade in is only see this 2 factor and they will only take slight higher than your paper value. Don't get too high hope that you will get higher $10k than your paper value as well.

Hahaha.... at first I also feel that way but nope, they still take in your car as a slightly higher with a few hundred add on.

Did you topup for the 91k CB deal or gotten another deal from another dealer?

[Calvin8808]

21 minutes ago, tjyand said:

you said it yourself, benefit to him is marginal. but how about the negative impacts to consumers and the rest of the industry? for e.g. if COE goes up by 10k, the consumers and ADs will bear the  full 10k increase collectively, while the benefit to him is a 10k extra paper value which:

• will at most be 5k in the very unlikely event the car is scrapped after 5 years (who would scrap a car at paper value when you can sell it for higher 99.99% of the time) 
• will not make a difference to the take-in price in the much more likely event  the car is sold to a second hand car dealer / direct sale to buyer because dealers look at depre, not paper value of the COE

I mean, its dog eat dog out there, but to be "praying very hard" for a price increase with marginal benefits to you while impacting everyone else out there so much more is... capricious at best. 

Oh and I am not affected by any increased COE price (I have already booked and registered a car so a sustained increase in COE would even vindicate my booking and make me feel better in the long term), but I would never wish such harm on others in return for minimal benefits on my end.    

You read my mind bro.

[pengu]

53 minutes ago, tjyand said:

you said it yourself, benefit to him is marginal. but how about the negative impacts to consumers and the rest of the industry? for e.g. if COE goes up by 10k, the consumers and ADs will bear the  full 10k increase collectively, while the benefit to him is a 10k extra paper value which:

• will at most be 5k in the very unlikely event the car is scrapped after 5 years (who would scrap a car at paper value when you can sell it for higher 99.99% of the time) 
• will not make a difference to the take-in price in the much more likely event  the car is sold to a second hand car dealer / direct sale to buyer because dealers look at depre, not paper value of the COE

I mean, its dog eat dog out there, but to be "praying very hard" for a price increase with marginal benefits to you while impacting everyone else out there so much more is... capricious at best. 

Oh and I am not affected by any increased COE price (I have already booked and registered a car so a sustained increase in COE would even vindicate my booking and make me feel better in the long term), but I would never wish such harm on others in return for minimal benefits on my end.    

Well said. The only ones praying for increased COE are those in MOF, thinking hard where to get money to fill the coffers, after all the spendings this year.

Otherwise, there’s really no benefit to increased COE.

[Pplater]

1 hour ago, tjyand said:

you said it yourself, benefit to him is marginal. but how about the negative impacts to consumers and the rest of the industry? for e.g. if COE goes up by 10k, the consumers and ADs will bear the  full 10k increase collectively, while the benefit to him is a 10k extra paper value which:

• will at most be 5k in the very unlikely event the car is scrapped after 5 years (who would scrap a car at paper value when you can sell it for higher 99.99% of the time) 
• will not make a difference to the take-in price in the much more likely event  the car is sold to a second hand car dealer / direct sale to buyer because dealers look at depre, not paper value of the COE

I mean, its dog eat dog out there, but to be "praying very hard" for a price increase with marginal benefits to you while impacting everyone else out there so much more is... capricious at best. 

Oh and I am not affected by any increased COE price (I have already booked and registered a car so a sustained increase in COE would even vindicate my booking and make me feel better in the long term), but I would never wish such harm on others in return for minimal benefits on my end.    

How is such a person "capricious" ah? Your post got quoted until I went to check the dictionary meaning coz i didn't know the word. And I found these.

Definition of capricious 

: governed or characterized by caprice : IMPULSIVE, UNPREDICTABLE

What is a capricious person?

adjective. The definition of capricious is someone or something that is subject to sudden, unpredictable changes.

[tjyand]

8 minutes ago, Pplater said:

How is such a person "capricious" ah? Your post got quoted until I went to check the dictionary meaning coz i didn't know the word. And I found these.

Definition of capricious 

: governed or characterized by caprice : IMPULSIVE, UNPREDICTABLE

What is a capricious person?

adjective. The definition of capricious is someone or something that is subject to sudden, unpredictable changes.

to be honest, I wanted to use other less... polite adjectives but always better to tone things down a little bit. had to find a more...subtle adjective here.

for example, a capricious boss would be one that asks you to do things for no apparent reason or justification (and therefore unpredictable and seemingly impulsive). by analogy, there did not seem to be any reason or justification to "pray very hard" (oh gosh I hope the poster did not mean it literally else everyone else out there who prays or is religious would be really upset) for a increase in the bread and butter COE category which does not benefit anyone at all. In fact for all you know, it might impact a struggling family relying on the car to send kids to school or sole breadwinner that relies on the car to earn a living that has to renew the COE on their 10 year old car given that 3 month COE prices are averaged to calculate the premium to renew COE.     

Edited October 6, 2020 by tjyand

[SedanFTW]

3 hours ago, Calvin8808 said:

Which is why I asked why pray hard for people to do not so well?

I mean especially when it's not going to benefit me drastically, indirectly it's like praying that people don't do well. 

Whether the dealer earn more or less or even make loss is not going to affect me as I already committed to this price and G-COE package. So what happen to the COE price doesn't affect me. But praying hard for the price to go up...the AD might be making loss or less profit, those on NG-COE might not get their cars, those waiting to buy because they really need it for some reasons but might not be able to afford might be priced out.

 

 

It's just psychology... You want to pray very hard to ensure that you don't look stupid for topping up etc..
Or that you made the right choice.

Say you paid extra 3k, and if it turns out COE drop by 3k instead, you would feel like you lost 3k psychologically. 
And if the COE price increase more than 3k, you will feel like you "earn" psychologically.

Nevertheless, I think the "pray very hard" is just an analogy for someone who really hope COE doesn't crash after the person makes the decision to top-up.
I doubt someone will "pray very hard" for this purpose.

[Calvin8808]

1 minute ago, SedanFTW said:

It's just psychology... You want to pray very hard to ensure that you don't look stupid for topping up etc..
Or that you made the right choice.

Say you paid extra 3k, and if it turns out COE drop by 3k instead, you would feel like you lost 3k psychologically. 
And if the COE price increase more than 3k, you will feel like you "earn" psychologically.

Nevertheless, I think the "pray very hard" is just an analogy for someone who really hope COE doesn't crash after the person makes the decision to top-up.
I doubt someone will "pray very hard" for this purpose.

But what you paid or decided to pay it's already a sunk cost, no matter what happens you need to pay that amount. So nothing gonna change. And for just feeling psychologically better really hope "harm" onto others. I mean harm is a bit strong worded, I don't really want to use this word but can't think of what word to use.

I mean maybe like you got retrenched then you hope the whole dept got retrenched also so you don't look like you are lousy cos everyone else in the dept also got retrenched.