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awhtc

Cat B COE continues upward rise, and supply for upcoming quarter expected to shrink significantly

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Turbocharged

@kobayashiGT 

Thanks chum...no major problems as of now...just that is an old 2015 model..nao backside itchy but prices too high muayahahah

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5th Gear

Confirm there will be buyers panic buy one. Now chiong to showroom place downpayment in time for today’s bidding or not ah? 🤣

Who say COVID is hard times? You all see COE keep rising. Singaporeans are rich! 

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Twincharged
38 minutes ago, awhtc said:

 

We are comparing against different periods for the PHVs.  Yours should be the 2016-2018 Uber and Grab expansion period and the demand of COEs for PHVs is definitely lower now.

Mine is relative to 2011-2015 period when PHVs did not exist.  E.g. if Cat A COE quota per tender is 700, 50-100 could be taken up by people who are driving as PHVs.  The effective quota available for personal use is therefore even lower.

$100k COE will be worrying even for those who own a car now.  They will need to start saving for their next car or COE renewal a few years down the road.

those who got the COE during low will still have time to wait, and they will likely to get it low again if they keep the car for 10 years. The problem is those who are still holding on to the cars during 2012 to 2014, they will continue to buy high buy high unless they break the cycle by buying high sell low.  COE $100k is a likely reality,  lets not be too worried about this fact. 

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2nd Gear
48 minutes ago, Kyrios said:

Dilemma..car is 6 years old this month...should i wait till GE 2025 when usually prices will soften? 😆

You may be right, the price may soften during GE 2025. But the scenario could be coe at 95k in 2024 and it soften to 85k in 2025. 😅

 

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6th Gear
17 minutes ago, Mkl22 said:

exactly. who push up coe prices? Buyers lor. just because one cannot afford doesnt mean others cannot. as long as someone is willing to pay the price for the coe it is his. dont understand why people keep saying it manipulated.

The COE is not designed with sudden order of a few hundred of cars by PHV. When COE was created, there was no PHV, just retail buyers. Now the PHV got billions to burn, the retail buyer can't afford to compete. COE system needs adjustment. Government has no incentive to adjust because their collection of COE money is not affected. The ones who suffer the most are the average people who for some reasons really need a rider, like working in sales, with elderly and young ones....

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Supersonic
1 minute ago, mikk123 said:

The COE is not designed with sudden order of a few hundred of cars by PHV. When COE was created, there was no PHV, just retail buyers. Now the PHV got billions to burn, the retail buyer can't afford to compete. COE system needs adjustment. Government has no incentive to adjust because their collection of COE money is not affected. The ones who suffer the most are the average people who for some reasons really need a rider, like working in sales, with elderly and young ones....

What you said is true if COE is bidded by buyer.

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6th Gear
16 minutes ago, Wormee said:

Confirm there will be buyers panic buy one. Now chiong to showroom place downpayment in time for today’s bidding or not ah? 🤣

Who say COVID is hard times? You all see COE keep rising. Singaporeans are rich! 

Not true...see how many cheapskates tailgate people out of HDB carpark....a lot of them borrow heavily to support a car. they live on Maggie noodles and light soy sauce... 😁 

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Twincharged
56 minutes ago, Kyrios said:

Dilemma..car is 6 years old this month...should i wait till GE 2025 when usually prices will soften? 😆

if you change now, you will have to take a heavy loss on your existing car , and would still be paying for the fairly  high COE now. The better alterative might be to wait for 4 more years, continue to ride on the linear depre of your car now. in 4 years time, looking at the trend, COE price should be lower than now , provided no unforeseen surprises. 

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Supercharged
6 minutes ago, mikk123 said:

The COE is not designed with sudden order of a few hundred of cars by PHV. When COE was created, there was no PHV, just retail buyers. Now the PHV got billions to burn, the retail buyer can't afford to compete. COE system needs adjustment. Government has no incentive to adjust because their collection of COE money is not affected. The ones who suffer the most are the average people who for some reasons really need a rider, like working in sales, with elderly and young ones....

COE is not meant to prevent suffering of average people.

COE is bidding process where highest bidder wins for luxury non-essential item, like auction for Mona Lisa painting. No money please don't come and try

COE purpose is to do absolute restriction on vehicle numbers to prevent congestion and more important provide highest amount $$ for public coffers.

It is difficult to imagine someone who will die or cannot work if they cannot get a cheap ride. There are alternatives like BMW, Grab, BlueSG etc

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6th Gear
11 minutes ago, t0y0ta said:

COE is not meant to prevent suffering of average people.

COE is bidding process where highest bidder wins for luxury non-essential item, like auction for Mona Lisa painting. No money please don't come and try

COE purpose is to do absolute restriction on vehicle numbers to prevent congestion and more important provide highest amount $$ for public coffers.

It is difficult to imagine someone who will die or cannot work if they cannot get a cheap ride. There are alternatives like BMW, Grab, BlueSG etc

In theory you are correct. You must be educated in Ox/Cam farm with top honor in Economics. 

In reality, you are out of touch. just like..........😁 you know what I mean..

 

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Turbocharged
14 minutes ago, Ct3833 said:

if you change now, you will have to take a heavy loss on your existing car , and would still be paying for the fairly  high COE now. The better alterative might be to wait for 4 more years, continue to ride on the linear depre of your car now. in 4 years time, looking at the trend, COE price should be lower than now , provided no unforeseen surprises. 

Lets say we talk about used cars only.  I have been consistently monitoring 2nd hand car prices.  I know for some models, the used car prices/depre have not been adjusted much even though the COE hiked earlier this year. If lets say I really wanna change car, those are the type of models I am gunning for.

For BM and merc, of course the used car prices have jumped tremendously. Last time you can get a used CLA for about 11K depre. Nowadays that has since jumped to 14K depre. So those are the glamour models to avoid. Another case in point, Audi A5 Sportback….the depre has all along stuck at 15-16 depre...even now you can still get a fairly recent model at 15K depre...those are the models I might aim for. Needs consistent tracking in order not to, like you say, pay for the undue increased prices due to COE hike.  Unfortunately many other models have their prices adjusted upwards quite a bit by the 2nd hand dealers. So really lan lan

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Twincharged
23 minutes ago, inlinesix said:

What you said is true if COE is bidded by buyer.

COE might be slightly lower if bidding is done by buyers themselves but it won't change much the up and down trend, as it is driven largely by demand and supply. 

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Turbocharged (edited)
7 minutes ago, Kyrios said:

Lets say we talk about used cars only.  I have been consistently monitoring 2nd hand car prices.  I know for some models, the used car prices/depre have not been adjusted much even though the COE hiked earlier this year. If lets say I really wanna change car, those are the type of models I am gunning for.

 

typical cold door cars. eg hyundai sonata, nissan sylphy, chevy cruze etc

Edited by Mkl22

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Turbocharged
4 minutes ago, Mkl22 said:

typical cold door cars. eg hyundai sonata, nissan sylphy etc

Brudder you may be surprised..some cold door brands or models like Skoda / Seat actually jumped up a lot....beware...

I monitored their prices as well..

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4th Gear

Noob question - if the COE is 60k ,were there 60000 people bidding for this COE.Doesn't it start at $1 and then rise ( like an eBay bid 😃

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Turbocharged (edited)

Given that COE used to cost $100k long ago, and the general increase in income over the years (median\average), the gradual rise in COE is not out of tandem.  With the influx of rich foreigners, and the reduction in coe quota due to car lite, this is exacerbated.

Edited by Ingenius
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6th Gear
4 hours ago, awhtc said:

Compared to 2011 to 2015 when the COE supply was low, the situation is worse now as a lot of COEs are taken up by PHV operators and car rental companies.  Hence, the COEs available for bidding for personal use is lesser than the previous period.  I'm expecting Cat A to return to $60k and Cat B to go beyond $80k by early next year.

Not to mention increased immigration, income rise and inflation. Prices may rise above previous peak 

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