High COE cars

[mersaylee]

7 hours ago, sHy3r said:

Indeed. Was keeping a tab on one of the used car... dealer was not able to sell.. and now coe go up, he mark up another $2k... 

He refused to sell the price before coe went up recently. 
 

imagine he buy in at X amount... then cant sell... then coe went up... he mark up... but refused to sell X amount. 🤦🏻‍♂️
 

dealers are always dealers... 😞

Was looking at one...agreed on price then the sudden spike...told me the boss immediately revised the price but would still honour if I deposit xxx by yyy...i said thank you, good luck and good night. 

kns...haven't seen the car yet ask me to deposit... I deposit with hum chim peng wan ornot? 😁

Still text me every other day to view the car 😂😂😂

[sHy3r]

8 hours ago, mersaylee said:

Was looking at one...agreed on price then the sudden spike...told me the boss immediately revised the price but would still honour if I deposit xxx by yyy...i said thank you, good luck and good night. 

kns...haven't seen the car yet ask me to deposit... I deposit with hum chim peng wan ornot? 😁

Still text me every other day to view the car 😂😂😂

Wah, so they honour u the price, do u pay the deposit? 
haha

[Hazardous]

Wah, this topic is very informative for noobs like me!

In my case, I bought a 2nd hand 2018 car recently (COE cat b at $40k++). Since the COE currently is at $60k, the price for the car also went up as compared to last year.

So moving forward, does it mean the best time to sell off this car would be to wait for the next high cycle of COE to minimize the losses from the high deprecation cost?

[Kopites]

26 minutes ago, Hazardous said:

Wah, this topic is very informative for noobs like me!

In my case, I bought a 2nd hand 2018 car recently (COE cat b at $40k++). Since the COE currently is at $60k, the price for the car also went up as compared to last year.

So moving forward, does it mean the best time to sell off this car would be to wait for the next high cycle of COE to minimize the losses from the high deprecation cost?

Sell high buy high. Provised you are giving up on driving or your family own a few rides.

Think about it.

[kermitfm]

30 minutes ago, Hazardous said:

Wah, this topic is very informative for noobs like me!

In my case, I bought a 2nd hand 2018 car recently (COE cat b at $40k++). Since the COE currently is at $60k, the price for the car also went up as compared to last year.

So moving forward, does it mean the best time to sell off this car would be to wait for the next high cycle of COE to minimize the losses from the high deprecation cost?

1. It is difficult to predict the  'next high cycle' of COE as there are many factors to consider.

2. It depends on the reason for the sale. If it is to minimise loss from depreciation or even to make a small gain (if the COE goes through the roof), then yes. If the COE continue to rise then 2nd hand car price will also increase.  But this is on the condition that you are not going to replace the car you are selling, because all car prices, new or used, will also have increased.  

[Hazardous]

@Kopites 

Yup, I guess I'm stuck in this loop (buy/sell high) unless I decide to bite the bullet and take a huge $$ lose to escape (buy high sell low) 😖

[Kopites]

10 minutes ago, Hazardous said:

@Kopites 

Yup, I guess I'm stuck in this loop (buy/sell high) unless I decide to bite the bullet and take a huge $$ lose to escape (buy high sell low) 😖

Alternatively can consider to downgrade to a lower grade ride if finance is a concern.

[Hazardous]

@kermitfm 

hiaya, my luck with vehicle ownership is horrible la. I bought a VW back in 2014 and paid $77k for COE, sold it in 2017 and took a massive loss (might as well drive a merc kind of loss). After that I tried leasing till 2020. Should have re-entered vehicle ownership when COE was low last year ($30k+), but dragged my feet due to the uncertainty coz of Covid, so rented a car till few months back.

Decided to bite the bullet and bought a used car recently as the rental cost was adding up.

Morale of the story, don't be stupid like me and drag your feet when COE is low. 😵

[Roh96]

1 hour ago, Hazardous said:

Wah, this topic is very informative for noobs like me!

In my case, I bought a 2nd hand 2018 car recently (COE cat b at $40k++). Since the COE currently is at $60k, the price for the car also went up as compared to last year.

So moving forward, does it mean the best time to sell off this car would be to wait for the next high cycle of COE to minimize the losses from the high deprecation cost?

It depends on whether you intend to continue owning a car after that. You bought a 2nd hand 2018 car, your depreciation is anytime better than those buying this year. 

[Tcx607]

10 minutes ago, Hazardous said:

@kermitfm 

hiaya, my luck with vehicle ownership is horrible la. I bought a VW back in 2014 and paid $77k for COE, sold it in 2017 and took a massive loss (might as well drive a merc kind of loss). After that I tried leasing till 2020. Should have re-entered vehicle ownership when COE was low last year ($30k+), but dragged my feet due to the uncertainty coz of Covid, so rented a car till few months back.

Decided to bite the bullet and bought a used car recently as the rental cost was adding up.

Morale of the story, don't be stupid like me and drag your feet when COE is low. 😵

Yeah, I totally agreed. Like my komoco SE msg on a discounted price in 2018 and told me to grab.

I immediate place downpayment and gotten the car in 1 bid. Lucky me to enjoy low depreciation car for at least 3 to 4 years before looking for next car

Edited June 11, 2021 by Tcx607

[Will04]

Like to ask...... I placed a booking in early April and have gone thru 5 unsuccessful biddings. SE has been asking me to top up 8k but didn't. Now left final bidding, and definitely not gonna top up that amt. 

Should I:

1. Top up a minimal sum eg. 2-3k 

2. Forget it and continue driving (COE still have another 6-7mths) and hope for Yr end promos? 

[Optramagnum]

On 2/19/2021 at 9:34 AM, Hamburger said:

used car price is not subjected to coe bidded price but the market perceived depreciation/year. 

If I am searching for a particular used car, definitely I would choose a high coe car over a low one.

For one that is selling, I guess is whichever one is higher. Scrap vs depreciation value. 

I would top up at max 3k. After all the new car COE is high, you will fetch higher selling price if you sell after 5yrs or so. Also, not forgetting your existing car is depreciating as we speak. So it's zero sum game.. But max is 3k top up for me.. 

[shrjun]

On 4/26/2021 at 7:24 AM, D3badge said:

Ok you are likely a student as mention above by others 😂😂😂

 

On 4/26/2021 at 7:59 AM, RadX said:

perfect idealist

meant move price downwards 😉

[lexiton]

@Ho2786 then when u buy new car the price also super good

 

@Kopites  what was the vw car price back then in 2014?

Edited June 15, 2021 by lexiton

[Ct3833]

On 4/26/2021 at 12:45 AM, sHy3r said:

Indeed. Was keeping a tab on one of the used car... dealer was not able to sell.. and now coe go up, he mark up another $2k... 

He refused to sell the price before coe went up recently. 
 

imagine he buy in at X amount... then cant sell... then coe went up... he mark up... but refused to sell X amount. 🤦🏻‍♂️
 

dealers are always dealers... 😞

Dealers are out there to make money  , they won't hold on to a car that they are unable to sell  , they will hold firm on their price knowing that if you don't buy, some one else would.   

[sHy3r]

18 minutes ago, Ct3833 said:

Dealers are out there to make money  , they won't hold on to a car that they are unable to sell  , they will hold firm on their price knowing that if you don't buy, some one else would.   

yup. Those dealers can afford to hold on their stocks, they wont reduce price. 
 

there r dealers refused to reduce price and depre from $10k to $11k… let them keep holding see any buyers will buy. 😀

[Ct3833]

1 minute ago, sHy3r said:

yup. Those dealers can afford to hold on their stocks, they wont reduce price. 
 

there r dealers refused to reduce price and depre from $10k to $11k… let them keep holding see any buyers will buy. 😀

Dealers are in the same business for years, they have their way to make money, just accept it and move on. Buy what you can afford and what you can accept. Otherwise,  buy new car from  AD, or buy a cheap COE car .

[lexiton]

On 6/11/2021 at 11:34 AM, Will04 said:

Like to ask...... I placed a booking in early April and have gone thru 5 unsuccessful biddings. SE has been asking me to top up 8k but didn't. Now left final bidding, and definitely not gonna top up that amt. 

Should I:

1. Top up a minimal sum eg. 2-3k 

2. Forget it and continue driving (COE still have another 6-7mths) and hope for Yr end promos? 

sure if u don't mind paying additional COE premiums during year end