COE Bidding – December 2020

[Ct3833]

3 hours ago, andrewpks said:

thanks for the info. I only see a handful of bmw with registration early 2020.....other brands more than 1 year old....so they specialice in BMW ? are they related to Performance Motor ?

They are the used car division of performance motor. You just have to track them closely, they will roll out new used cars from time to time, dont buy on their  advertised  price,  usually can press down by 10 to 20k or even more depending on the type of car  and how hungry they are  at that point in time. 

Edited December 10, 2020 by Ct3833

[Philipkee]

3 hours ago, Twich said:

Nobody is going to know 1 or 2 year down on the road. 

If you don't have 300K cash in your bank account, be patience. Don't chong.  

 

10 hours ago, Twich said:

Worry your jobs first. I do not have a crystal ball. Unless, you have 200K cash in your bank account. The , you go and chong the COE 

These two comments are "weird".  It is precisely because we don't know what is going to happen two years down the road that people think and buy a car now.

What if you have 200k cash in your bank and two years later the bank collapses and you only get the SDIC payout (or govt decides to withhold it)? 

And if following this advice one will never do anything.   You can lose your job/health anytime.  Why get married? Why have kids?  No one knows what will happen two years down the road.

We can say this pandemic is a unique time but in actual fact, we have gone through many unique times before. Its just that we have survived them and when we look back it's not that bad.  Magic word, looking  back.  During the time when it occured, it was really bad. Sept 11, Bali bombing, GFC etc....

I am NOT advocating rushing out and buying the most expensive car there is.  Do your sums.  And buy. Or don't.   Calculate.  Life is a calculation.  

Two cents

Edited December 10, 2020 by Philipkee

[Twich]

1 hour ago, Philipkee said:

 

These two comments are "weird".  It is precisely because we don't know what is going to happen two years down the road that people think and buy a car now.

What if you have 200k cash in your bank and two years later the bank collapses and you only get the SDIC payout (or govt decides to withhold it)? 

And if following this advice one will never do anything.   You can lose your job/health anytime.  Why get married? Why have kids?  No one knows what will happen two years down the road.

We can say this pandemic is a unique time but in actual fact, we have gone through many unique times before. Its just that we have survived them and when we look back it's not that bad.  Magic word, looking  back.  During the time when it occured, it was really bad. Sept 11, Bali bombing, GFC etc....

I am NOT advocating rushing out and buying the most expensive car there is.  Do your sums.  And buy. Or don't.   Calculate.  Life is a calculation.  

Two cents

The world is entirely different from 30  years ago! Now, a new HDB 4 room in Clement cost more than 500K. 

Singapore economy will not be blooming like 10 to 15 years ago! This will translate to small percentage pay increased and bonus. Banking is cutting headcount except manufacturing. So, think carefully before commit any big ticket items... House no choice.

[Ct3833]

4 hours ago, Jamesc said:

I just wonder who is selling at a loss?

If an AD has been making 25k  profit per car, now because of higher COE price he could make only 20k, that is a loss..... of opportunity cost.

[Jamesc]

You are absolutely right.

I sell my used cars with ONLY 10k profit.

If I sell at 20k profit then I lost 10k by selling to my customers

at only 10k profit.

See see I lose 10k with every car I sell.

Used car salesman is hard life hor.

7 minutes ago, Ct3833 said:

If an AD has been making 25k  profit per car, now because of higher COE price he could make only 20k, that is a loss..... of opportunity cost.

 

[Lotr8445r]

5 hours ago, Calvin8808 said:

Ha ha don't go around spreading rumours and scaring people la.

Have anyone heard of such a case before in Sinagpore? That G-COE package (no cap) and was not fulfilled?

 

Yes. I remember before that someone post that he didn't manage to get the coe even with guarantee. I know it made no sense but it does happened. Probably due to some fine print hidden somewhere where we typically don't read 100% in detail when signing the dot.

[Athrin]

22 minutes ago, Lotr8445r said:

Yes. I remember before that someone post that he didn't manage to get the coe even with guarantee. I know it made no sense but it does happened. Probably due to some fine print hidden somewhere where we typically don't read 100% in detail when signing the dot.

Hi all,

When Performance Motors bid for COE on 23rd Dec, if they can secure d COE, usually how many days later will they register d car? 

& from d date of car registration, what is d acceptable number of days to collect car?

(as this is the year end super peak period, what is the max acceptable number of days to collect car from d date of registration?)

Thanks to all in advance

[Ho2786]

2020 GDP drop 6% but COE go up

2021 GDP up 6% but COE will go down

LOL

[Calvin8808]

11 hours ago, Lotr8445r said:

Yes. I remember before that someone post that he didn't manage to get the coe even with guarantee. I know it made no sense but it does happened. Probably due to some fine print hidden somewhere where we typically don't read 100% in detail when signing the dot.

Hmm interesting, how does it end up then? This must be so rare then. I doubt this will happen with AD or those larger PI. 

I know actually the agreement behind does have some clause for example for mine under G-COE have this clause. "In the event ...purchaser/vendor fails to secure COE after 90 days from the date of this agreement...vendor has right to cancel the agreement...and charge purchaser...$1,000." But usually this is a standard form and they use the same form for all COE packages so ultimately will rely on the front that was specific to your purchase. 

Then again I'm not a lawyer so I can't be very sure that in the event that this go to court how will it end up.

But from what I understand legally and based on common practice and understanding the AD/PI can't renege on this.   

 

[Calvin8808]

10 hours ago, Athrin said:

Hi all,

When Performance Motors bid for COE on 23rd Dec, if they can secure d COE, usually how many days later will they register d car? 

& from d date of car registration, what is d acceptable number of days to collect car?

(as this is the year end super peak period, what is the max acceptable number of days to collect car from d date of registration?)

Thanks to all in advance

Think you should check with your Sales Consultant? They should be able to give you a better gauge?

From COE secured till they register the car, it also depends if your car is ready? Generally if car is ready and COE secured on Wed, Sat can collect the car (in some urgent case may even push for Friday afternoon). But then again provided your car is ready, so if you in a rush better ask your SC to prep the car first.

I heard normally 2 or 3 days after registration can collect, though I do heard some cases 1 or even 2 weeks (but they throw in some freebies to compensate). For mine the car was registered in the morning and I collected in the afternoon. 

 

[Jamesc]

What does the small print say?

I want to put in my contact also.

[Calvin8808]

13 minutes ago, Jamesc said:

What does the small print say?

I want to put in my contact also.

I think you put small print also no use.

Our law and judge not so stupid one. Under contract law, a lot of clauses are illegal ones or not effective one. 

For example usually there's some clause when you take some maybe sports lesson, playground for children or high risk sports (like bungee jump) that in the even of death due to negligence cannot held them responsible. This clause is illegal and not legal binding.

Like wise for contract, the offer is part of the consideration for legal binding. There's a objective test on the offer.

Under the objective test, a person may be said to have made an offer if his or her statement (or conduct) induces a reasonable person to believe that the person making the offer intends to be bound by the acceptance of the alleged offer, even if that person in fact had no such intention. 

Before the agreement may be enforced as a contract, its terms must be sufficiently certain. At the least, the essential terms of the agreement should be specified. Beyond this, the courts may resolve apparent vagueness or uncertainty by reference to the acts of the parties, a previous course of dealing between the parties, trade practice or to a standard of reasonableness.

Once the terms of a contract have been determined, the court applies an objective test in construing or interpreting the meaning of these terms. What is significant in this determination therefore is not the sense attributed by either party to the words used, but how a reasonable person would understand those terms. In this regard, Singapore courts have consistently emphasised the importance of the factual matrix within which the contract was made, as this would assist in determining how a reasonable man would have understood the language of the document.

Edited December 11, 2020 by Calvin8808

[Jamesc]

3 minutes ago, Calvin8808 said:

I think you put small print also no use.

Our law and judge not so stupid one. Under contract law, a lot of clauses are illegal ones or not effective one. 

For example usually there's some clause when you take some maybe sports lesson, playground for children or high risk sports (like bungee jump) that in the even of death due to negligence cannot held them responsible. This clause is illegal and not legal binding.

Like wise for contract, the offer is part of the consideration for legal binding. There's a objective test on the offer.

Under the objective test, a person may be said to have made an offer if his or her statement (or conduct) induces a reasonable person to believe that the person making the offer intends to be bound by the acceptance of the alleged offer, even if that person in fact had no such intention. 

Before the agreement may be enforced as a contract, its terms must be sufficiently certain. At the least, the essential terms of the agreement should be specified. Beyond this, the courts may resolve apparent vagueness or uncertainty by reference to the acts of the parties, a previous course of dealing between the parties, trade practice or to a standard of reasonableness.

Once the terms of a contract have been determined, the court applies an objective test in construing or interpreting the meaning of these terms. What is significant in this determination therefore is not the sense attributed by either party to the words used, but how a reasonable person would understand those terms. In this regard, Singapore courts have consistently emphasised the importance of the factual matrix within which the contract was made, as this would assist in determining how a reasonable man would have understood the language of the document.

You are good.

👍

[Jamesc]

Used car dealers must get good lawyers.

Then can clock the mileage and still win the court case.

[newbie_2020]

12 hours ago, Lotr8445r said:

Yes. I remember before that someone post that he didn't manage to get the coe even with guarantee. I know it made no sense but it does happened. Probably due to some fine print hidden somewhere where we typically don't read 100% in detail when signing the dot.

I got worried and referred to my contract signed. Font is like size 4 so small how to read and I don't understand the meaning as a ordinary man. 

My this one is one of the top PI in Singapore. I hope he wont do things that will ruin his years of good reputation..

 

[Lotr]

17 hours ago, Jamesc said:

I just wonder who is selling at a loss?

Maybe he bought many Prime taxis at a very good discount?

[wlalala]

2 hours ago, Calvin8808 said:

Hmm interesting, how does it end up then? This must be so rare then. I doubt this will happen with AD or those larger PI. 

I know actually the agreement behind does have some clause for example for mine under G-COE have this clause. "In the event ...purchaser/vendor fails to secure COE after 90 days from the date of this agreement...vendor has right to cancel the agreement...and charge purchaser...$1,000." But usually this is a standard form and they use the same form for all COE packages so ultimately will rely on the front that was specific to your purchase. 

Then again I'm not a lawyer so I can't be very sure that in the event that this go to court how will it end up.

But from what I understand legally and based on common practice and understanding the AD/PI can't renege on this.   

 

that's on the purchase agreement

this is from worms.

There is a separate agreement for COE bidding so I think it comes down to what is written there. Mine is non-g package so no idea if g package is the same.

[Lotr]

50 minutes ago, wlalala said:

that's on the purchase agreement

this is from worms.

There is a separate agreement for COE bidding so I think it comes down to what is written there. Mine is non-g package so no idea if g package is the same.

Wah piang, cannot secure coe after 90 days still can have the cheek to charge $1k admin fee.