COE Bidding – January 2021

[Ct3833]

10 minutes ago, Mustank said:

Even if they say full cash one, don’t think will go down more than 5k

That will be a dangerous move , government will not do that to kill the golden goose . 

[keanC]

COE up👏👏

fuel prices  up👏👏👏

my wallet 👎😭

[Fcw75]

Mentioned here many times.

COE is a cash cow for the govt. Why would they even want it to drop? Higher the better, huat ah!

[kelaihoyin]

1 hour ago, Fcw75 said:

Mentioned here many times.

COE is a cash cow for the govt. Why would they even want it to drop? Higher the better, huat ah!

Already give out so much money last year. Surely they need to recoup those. What is better than COE? 😁

[tjyand]

Hopefully the more money is made from COE, the less money will have to come from GST, income tax, property tax, water tax!!!

[Bensky]

Today’s loan is cheap and easy, and many are attracted to buy. Perhaps should tighten to a max of 50% loan at 5 years or less.

[Fcw75]

2 hours ago, tjyand said:

Hopefully the more money is made from COE, the less money will have to come from GST, income tax, property tax, water tax!!!

Who doesn’t want more money? Esp it’s PAP.

[Jamesc]

2 hours ago, tjyand said:

Hopefully the more money is made from COE, the less money will have to come from GST, income tax, property tax, water tax!!!

TKK and WLL what is wrong with collecting more money?

 

[Jamesc]

55 minutes ago, Bensky said:

Today’s loan is cheap and easy, and many are attracted to buy. Perhaps should tighten to a max of 50% loan at 5 years or less.

I support.

Then used car sales will go up

 

[Ginyu]

2 hours ago, Bensky said:

Today’s loan is cheap and easy, and many are attracted to buy. Perhaps should tighten to a max of 50% loan at 5 years or less.

Buy is one thing, let’s see how long they can drive it. Increasing number of fairly new few months old car are put up for sale🤣

Edited January 21, 2021 by Ginyu

[Kar_lover]

On 1/20/2021 at 7:09 PM, ferrytales said:

Thought gahmen did something on curbing the loan ratio with min 30%/40% for cat A and B? 

If not coe will be 200k now already but of course we gotta factor in how uber left the market too since they were the biggest culprits with lion City rentals. Hilarious when cat A was 70k and attrage costs insane high. 

Yes they imposed maximum loan of 60%/70% with max tenure of 7 years and also moved Taxis out the normal cars category. 

[Kar_lover]

18 hours ago, Bensky said:

Today’s loan is cheap and easy, and many are attracted to buy. Perhaps should tighten to a max of 50% loan at 5 years or less.

The introduction of the loan limits was NOT for the purpose of reducing pressure on COE. Rather it was to ensure people don't "over borrow"  (aka over extend themselves) and the car value depreciates faster than the reduction of your loan balance and people used to be stuck with their cars cos the resale value was less than the balance loan and sellers had no cash to top up yet they also can't afford to pay the installments. 

If the curbs become too drastic such as 50% for 5 years, it will create a more "elitist" situation where the social divide will worsen and when COE does drop - who will it benefit more? The higher "SES" people. Rich get richer, poor get poorer. 

For me I think the loans are just about right now. 

[Mustank]

1 hour ago, Kar_lover said:

The introduction of the loan limits was NOT for the purpose of reducing pressure on COE. Rather it was to ensure people don't "over borrow"  (aka over extend themselves) and the car value depreciates faster than the reduction of your loan balance and people used to be stuck with their cars cos the resale value was less than the balance loan and sellers had no cash to top up yet they also can't afford to pay the installments. 

If the curbs become too drastic such as 50% for 5 years, it will create a more "elitist" situation where the social divide will worsen and when COE does drop - who will it benefit more? The higher "SES" people. Rich get richer, poor get poorer. 

For me I think the loans are just about right now. 

If 1: buy car is waste money one

If 2: coe go up, poor fellow finds it harder to get a car

If 3: loan curbs makes even harder for poor fellow to buy car

therefore, Govt helping poor guy save marnie! 😁 

[kelaihoyin]

2 hours ago, Kar_lover said:

The introduction of the loan limits was NOT for the purpose of reducing pressure on COE. Rather it was to ensure people don't "over borrow"  (aka over extend themselves) and the car value depreciates faster than the reduction of your loan balance and people used to be stuck with their cars cos the resale value was less than the balance loan and sellers had no cash to top up yet they also can't afford to pay the installments. 

If the curbs become too drastic such as 50% for 5 years, it will create a more "elitist" situation where the social divide will worsen and when COE does drop - who will it benefit more? The higher "SES" people. Rich get richer, poor get poorer. 

For me I think the loans are just about right now. 

I like the MORE "elitist" situation you mention here.  

I kind of agree we are already in an "elitist" situation when I see more Merc than Toyota on the roads these days (not counting PHVs). 😂

[Ginyu]

1 hour ago, Mustank said:

If 1: buy car is waste money one

If 2: coe go up, poor fellow finds it harder to get a car

If 3: loan curbs makes even harder for poor fellow to buy car

therefore, Govt helping poor guy save marnie! 😁 

Car is not a need but a want. They get it more for face value than convenience .They are willingly to borrow large amount of money to showcase their social status. 😆

Edited January 22, 2021 by Ginyu

[Ho2786]

I don't know if COE will go or down

but I know GST going up

cars have GST too

[Jamesc]

20 hours ago, Ginyu said:

Buy is one thing, let’s see how long they can drive it. Increasing number of fairly new few months old car are put up for sale🤣

At a profit.

Because COE went up.

People are making money by buying cars.

Not losing money.

[Jamesc]

So many people over extended themselves buy condos buy cars and interest rates never went up and house and car prices went up.

They are making a huge profit.

Stupid people never do and now saying worry about your job worry about your job.

If you sitting on millions in profits you Don't have to worry about your job.