COE Bidding – June 2022

[lexiton]

currently the quota is 0% increase meaning those quota available for bidding are recycled from the previous batch right

[Sdf4786k]

On 6/23/2022 at 11:36 AM, Mockngbrd said:

U all still think can buy Honda s660 ah? Honda sold out its entire production run almost a year ago liao. 

There’s always the alternative GR copen

[Philipkee]

On 6/23/2022 at 7:41 AM, Scion said:

as ah gong last time said: what's wrong with making more money 

i suggest gahmen can consider setting up a new tier COE system... to buy a COE in order to bid for the COE for new cars 🤣

this certificate of entitlement only entitle u to bid for a COE for new cars 🤣

I suggest selecting length of Coe in multiples of years, maximum is 10 years.

So let's say you tell the dealer you want a Coe for 3 years.  The bidding happens.

Coe 100k. You only pay 30k for Coe.  So you save money but after 3 years you need to scrap the car or send for export.

You save money, Coe gets recycled faster. More people have chance to own a car.  Car population remains the same.  Revenue remains the same.  It's just the Coe turnover is much faster.

Second hand car dealers will also need to bid for Coe if let's say the car has a 3 year old Coe and someone sell to them. They will bid for 1 to 7 years of Coe and obtain them before being able to sell so either they export or they must be confident they can sell them.

[Mockngbrd]

24 minutes ago, Sdf4786k said:

There’s always the alternative GR copen

That's FF crap

Edited June 25, 2022 by Mockngbrd

[Benarsenal]

18 minutes ago, Philipkee said:

I suggest selecting length of Coe in multiples of years, maximum is 10 years.

So let's say you tell the dealer you want a Coe for 3 years.  The bidding happens.

Coe 100k. You only pay 30k for Coe.  So you save money but after 3 years you need to scrap the car or send for export.

You save money, Coe gets recycled faster. More people have chance to own a car.  Car population remains the same.  Revenue remains the same.  It's just the Coe turnover is much faster.

Second hand car dealers will also need to bid for Coe if let's say the car has a 3 year old Coe and someone sell to them. They will bid for 1 to 7 years of Coe and obtain them before being able to sell so either they export or they must be confident they can sell them.

Very wasteful leh. Like that people will just keep bid for 1 or 2 years then keep changing car.

[Volvobrick]

On 6/22/2022 at 7:08 PM, Wt_know said:

fk the PHV companies bidding up COE

PHV companies is like Taxi companies, should ban them from bidding COE 

bid high high and simply raise the rental cost and the cost is subsequently transfer to “consumer”  

Not only that, rental cars amd PHV are used at least 4 or 5 times more than private cars each day. They contribute to more congestion. Should should pay 5 times the premium compared to private buyers to reflect true costs of usage. 

Just a load of excrement talking about car lite when obvious flaws are not tackled. 

[Philipkee]

2 hours ago, Benarsenal said:

Very wasteful leh. Like that people will just keep bid for 1 or 2 years then keep changing car.

Not really.  If you want to keep longer, you bid for longer Coe 

As for those who wants to YOLO and buy a one time Coe, what's wrong with earning more money?  Also, a one year old car sent to scrapyard will more likely be exported than scrapped.

Edited June 25, 2022 by Philipkee

[Benarsenal]

26 minutes ago, Philipkee said:

Not really.  If you want to keep longer, you bid for longer Coe 

As for those who wants to YOLO and buy a one time Coe, what's wrong with earning more money?  Also, a one year old car sent to scrapyard will more likely be exported than scrapped.

Hard to say. Some may find it more valuable to dismantle for parts.

I already don't like the idea of artificially restricting a car's lifespan to just ten years when they can last for much longer. Such a policy will only encourage more turnover, and more waste in making (and then scrapping) new cars year after year. 

[Wondertree]

Garment likes this. Easily 200k COE as it reduces initial quantum and makes any COE amount look smaller than it actually is.

10 hours ago, Philipkee said:

I suggest selecting length of Coe in multiples of years, maximum is 10 years.

So let's say you tell the dealer you want a Coe for 3 years.  The bidding happens.

Coe 100k. You only pay 30k for Coe.  So you save money but after 3 years you need to scrap the car or send for export.

You save money, Coe gets recycled faster. More people have chance to own a car.  Car population remains the same.  Revenue remains the same.  It's just the Coe turnover is much faster.

Second hand car dealers will also need to bid for Coe if let's say the car has a 3 year old Coe and someone sell to them. They will bid for 1 to 7 years of Coe and obtain them before being able to sell so either they export or they must be confident they can sell them.

 

[Voodooman]

8 hours ago, Philipkee said:

Not really.  If you want to keep longer, you bid for longer Coe 

As for those who wants to YOLO and buy a one time Coe, what's wrong with earning more money?  Also, a one year old car sent to scrapyard will more likely be exported than scrapped.

COE money stays in SG, why benefits foreign car manufacturers? 

Want to own a car for 3 years, just buy and then sell 3 years later. How does your idea change the supply equation with the zero growth policy? 

[shrjun]

18 hours ago, Philipkee said:

Not really.  If you want to keep longer, you bid for longer Coe 

As for those who wants to YOLO and buy a one time Coe, what's wrong with earning more money?  Also, a one year old car sent to scrapyard will more likely be exported than scrapped.

Then your 1 year COE will slowly  rise to 100k 🤣.

[Philipkee]

17 hours ago, Voodooman said:

 

Want to own a car for 3 years, just buy and then sell 3 years later. How does your idea change the supply equation with the zero growth policy? 

The difference is now you have a 10 year old Coe.  You sell and buy another car.  You consume another Coe but your Coe for the three year old car might not be recycled if it goes to second hand market.

With this three year Coe, that car must be scrapped, exported or another Coe be bidded for.  

This will obviously impact the second hand market but it can be mitigated by second hand car dealers be allowed to hold cars with expired Coe in their shops and when people come to their shops to buy, then they bid for it.  But maximum age of car is 10 years.  So if a 3 year old car with expired Coe is sold to them and they get a buyer only on the 4th year, they can bid a max of 6 years.

[Philipkee]

7 hours ago, shrjun said:

Then your 1 year COE will slowly  rise to 100k 🤣.

Very unlikely cos it means the full Coe will be 1 million dollars.

If this really happens, we will be back to square one like now cos the car is priced out of the masses but the govt will really roll with money.  Hopefully this means better public transportation,.

[inlinesix]

Rather than simplifying things, you are making things more complicated and hard to implement.

[Voodooman]

26 minutes ago, Philipkee said:

The difference is now you have a 10 year old Coe.  You sell and buy another car.  You consume another Coe but your Coe for the three year old car might not be recycled if it goes to second hand market.

With this three year Coe, that car must be scrapped, exported or another Coe be bidded for.  

This will obviously impact the second hand market but it can be mitigated by second hand car dealers be allowed to hold cars with expired Coe in their shops and when people come to their shops to buy, then they bid for it.  But maximum age of car is 10 years.  So if a 3 year old car with expired Coe is sold to them and they get a buyer only on the 4th year, they can bid a max of 6 years.

You are just increasing COE turnover but the supply remains the same. The number of cars allowed on the road is the same, the people that wants to own a car at a certain price point is also same.  

This is not like HDB lease. You can sell your car after even 3 months and car loans are readily available. Too complicated for me. 😂😂😂

[jcmm]

19 minutes ago, mikk123 said:

we all try to think of ways to bring it down....but our scholars are thinking about how to generate even more money out this system. So far the system works well, they won't change it. unless, some opposition party bring up this issue in the next election...

Will be a waste time debating... until the days when more than 1/3 opp in pali only someone will take it seriously. When it benefits u, why breaks it? 

Edited June 27, 2022 by jcmm

[Lethalstrike]

On 6/25/2022 at 12:42 PM, Volvobrick said:

Not only that, rental cars amd PHV are used at least 4 or 5 times more than private cars each day. They contribute to more congestion. Should should pay 5 times the premium compared to private buyers to reflect true costs of usage. 

Just a load of excrement talking about car lite when obvious flaws are not tackled. 

I've mentioned before that there should be a separate COE category for commercial/business entities. Grab can go fight with Get Go to drive up CAT A business category for all we care.

[SLing]

The peasantry waiting in vain for COE to fall in price.  The rich waiting in vain for their luxury cars to be delivered.  NATO’s proxy war on Russia & our over population are creating havoc with the local motor industry
 

https://sg.yahoo.com/finance/news/singapores-rich-face-delays-and-high-prices-for-new-luxury-e-vs-025307476.html

Edited June 27, 2022 by SLing