COE Bidding – December 2020

[Lotr]

3 minutes ago, FrancisTan_162983 said:

I have got a Cat.B COE. Got thru a dealer but due to some issue. Deal did not went thru with a bidded COE. What can I do since I have got a new car that comes with a COE. Any advice? Appreciate. 

Use the coe to buy another car?

[FrancisTan_162983]

I have got a new COE with my AD...

[zipping]

1 hour ago, FrancisTan_162983 said:

I have got a Cat.B COE. Got thru a dealer but due to some issue. Deal did not went thru with a bidded COE. What can I do since I have got a new car that comes with a COE. Any advice? Appreciate. 

U mean u got a new car (with coe) and an extra cat b coe?

[crazythen]

Any updates from the 8th G-Bid bro?

[FrancisTan_162983]

At first, sign for a new car. But due to some reason. Got COE but car cannot deliver. Went to AD, got a better price but need to get their COE. Therefore stuck with a COE from the first dealer.

[zipping]

3 minutes ago, FrancisTan_162983 said:

At first, sign for a new car. But due to some reason. Got COE but car cannot deliver. Went to AD, got a better price but need to get their COE. Therefore stuck with a COE from the first dealer.

o.oll

U should hav waited for e 1st dealer to settle ur deal/coe b4 u go to another dealer (ad) to purchase....but tat option is long gone n u r stuck w an extra coe. Did ur orginal dealer offer u any options on tat coe?

[awhtc]

1 hour ago, FrancisTan_162983 said:

I have got a Cat.B COE. Got thru a dealer but due to some issue. Deal did not went thru with a bidded COE. What can I do since I have got a new car that comes with a COE. Any advice? Appreciate. 

COE should be under your name.  You can sell it if the COE price goes up.

[Jamesc]

COE keeps going up.

Sure make money one.

[Old-driver]

Cat B can transfer meh?

 

[Enye]

wah ... if i pay income tax by instalments means i shouldn’t earn the current level of income and should ask my boss for a pay cut until i can afford the income tax in a single payment in full cash?

😬😅

[Lotr]

1 hour ago, awhtc said:

COE should be under your name.  You can sell it if the COE price goes up.

Cat A or B COE transferable?

[Hubwee]

1 hour ago, FrancisTan_162983 said:

At first, sign for a new car. But due to some reason. Got COE but car cannot deliver. Went to AD, got a better price but need to get their COE. Therefore stuck with a COE from the first dealer.

You can forfeit the COE , meaning lose  the 10k by not registering any car and let it expire .

If you do not want to lose the 10 k , then use the COE to buy a car and hope to sell the car after 6 months without too much of a loss .

You can only transfer or sell your new car with a cat A/B COE after 3 months , and if your COE is say 35 k and during the 4th to 6th month you sell your car and The prevailing COE is higher than 35k , you have to pay a levy , basis the increase amount in your cat COE . 
 

So easier way is just drop the 10k and forfeit the COE . 

[Vlsc]

4 hours ago, FrancisTan_162983 said:

At first, sign for a new car. But due to some reason. Got COE but car cannot deliver. Went to AD, got a better price but need to get their COE. Therefore stuck with a COE from the first dealer.

Eh why didn’t u find a dealer which willing to just sell u a car without coe leh? Thot Sure some dealers will sell only car just that car price not that cheap ?

[Ct3833]

1 hour ago, Vlsc said:

Eh why didn’t u find a dealer which willing to just sell u a car without coe leh? Thot Sure some dealers will sell only car just that car price not that cheap ?

Most dealers will sell car without COE at a higher price than those with a COE package. TS should have explored  his options before signing up a new package, now the most viable way out  for him is to forgo the 10k deposit. 

Edited December 25, 2020 by Ct3833

[awhtc]

9 hours ago, Lotr said:

Cat A or B COE transferable?

It should be doable between 3-6 months but with an additional levy.  Forfeiting $10k is a lot of money, so it is probably better to work out a solution with the existing car dealer e.g. either waiting for the car delivery or a COE transfer arrangement to another car buyer.

[Lotr]

3 hours ago, awhtc said:

It should be doable between 3-6 months but with an additional levy.  Forfeiting $10k is a lot of money, so it is probably better to work out a solution with the existing car dealer e.g. either waiting for the car delivery or a COE transfer arrangement to another car buyer.

Doable? As in transfer ownership of the COE (not the car) through LTA?

My understanding is that  Cat A and B COE  bidded under inidividual's name itself is not 

 

Edited December 26, 2020 by Lotr

[Mkl22]

9 hours ago, Ct3833 said:

Most dealers will sell car without COE at a higher price than those with a COE package. TS should have explored  his options before signing up a new package, now the most viable way out  for him is to forgo the 10k deposit. 

I’m sure some PI will sell him to clear stock. 

[andrewpks]

2 hours ago, Lotr said:

Doable? As in transfer ownership of the COE (not the car) through LTA?

My understanding is that  Cat A and B COE  bidded under inidividual's name itself is not 

 

Cat A&B CEO is not transferable, and valid only for 6 months. Only open Cat E is transferable.

Looks like you are stuck and have to forfeit the 10K deposit by letting the COE expire in 6 mths time. If it is the 1st dealer's fault, try to negotiate some compensation from them.

After you got your 1st COE, should hv gone to  a dealer that would sell you a car without COE, although more expensive, but still less than the 10K you will lose.........