COE Bidding – July 2022

[13177]

11 hours ago, Benarsenal said:

Word on the street is that a huge percentage of buyers now are foreign. Two years of Covid, no travel no spending, now that finally open, all flood into Singapore to pour their money here because they can. It's not just cars too. Property and luxury goods also. Just that cars got no buying restrictions on nationality etc. Got money just whack.

We are arguably the safest place in the world to park money.

Foreigners come in here to splurge on property i still can understand, but come in to buy a car? For what? Since car still a depreciation item, and if these foreigners do not stay long or work in sg, buying a car is meaningless. 😂

[Confusedboi]

1 hour ago, Scion said:

i peeped at Honda pricelist and was shocked to find out that cute little Honda Jazz is now selling at 140k! 🤣

https://www.sgcarmart.com/new_cars/pricelist/13/2022-07-21.pdf

 

That’s why you seldom see the new jazz on the road like the new civic also. Mostly you see the older COE jazzs and civics on the road instead of the new models 😅

[inlinesix]

8 minutes ago, 13177 said:

Foreigners come in here to splurge on property i still can understand, but come in to buy a car? For what? Since car still a depreciation item, and if these foreigners do not stay long or work in sg, buying a car is meaningless. 😂

To use it as and when they are in town.  A lot of them don't care about its price tag.

[13177]

8 hours ago, Confusedboi said:

well hondas normally sell at higher price than their equivalent rivals which drives some customers away. ( Reputedly better is subjective, used to be quite evident last time with the older honda civics and accords that were in made in Japan vs toyotas that came from Thailand  like more than 10 plus years ago during mid 2000's eras)

Case in point is the current honda civic selling at SGD  eye watering SGD 150K list price, vs toyota corolla altis at SGD 130K plus list price

Toyota got very strong brand loyalty following in particular from the uncles and aunties and for the general public the first " safe choice" car that comes to mind is the toyota corolla for sedan.

 

I find Honda all the while always sell higher than Toyota for brand new and even for 2nd hand, even when both also made in Japan. Back then i really wonder why lo. Lol.

Even Honda price is higher than Toyota, but Honda cars also selling quite well. Actually both Honda and Toyota got very strong brand loyalty and supporters, although it seems like many people view Toyota as their first choice of car brand when they want to buy a car, due to reliability and good FC, even the design for Toyota not very nice if compared with Honda and others Jap make. Lol.

[13177]

17 minutes ago, Confusedboi said:

That’s why you seldom see the new jazz on the road like the new civic also. Mostly you see the older COE jazzs and civics on the road instead of the new models 😅

Seldom see the new jazz and civic on the road now, only partly due to high price but mainly due to the ''ugly'' design if you compared with their previous model design. I find when honda cars sell quite well, their nice design really contribute a lot. Whereas for Toyota cars, no matter what is the design of the car, there are still many people buy. Esp you see the sales of their altis, none of the generation of their altis not popular, since the altis launched from 2004 until 2022. Lol.

Edited July 22, 2022 by 13177

[13177]

16 minutes ago, inlinesix said:

To use it as and when they are in town.  A lot of them don't care about its price tag.

So when they are not in town, the car just left idle in the carpark for months? 😅

[inlinesix]

7 minutes ago, 13177 said:

So when they are not in town, the car just left idle in the carpark for months? 😅

They likely have other family members in Singapore.

 

[Freeder]

N-Van now selling like hot cakes @70k+…

[inlinesix]

3 minutes ago, mikk123 said:

yeah....they buy in CASH! Don't mention anything about a bank loan. 🤣

Not necessary.

They need a credit history here for other borrowing.

Edited July 22, 2022 by inlinesix

[Vratenza]

55 minutes ago, 13177 said:

Foreigners come in here to splurge on property i still can understand, but come in to buy a car? For what? Since car still a depreciation item, and if these foreigners do not stay long or work in sg, buying a car is meaningless. 😂

You are assuming the money these foreigners bring into Singapore are all hard-earned money that they earned dollar by dollar and will feel the pinch if they are spent wantonly.

Let me put it to you that if the money that comes in are black and needs a washing, will that alter your perception?

Cars paid in full cash, MAS no raise eyebrow. 

After driving for few months sell off, you take maybe 10% hit to the price, the cash that comes out from the sale will be clean(er).

They don't call Singapore as SEA's biggest washing machine for nothing.

[Jamesc]

There are a lot of rich people who don't think twice about paying high COEs.

I am happy for them.

If people cannot afford a new car

there are a lot of people selling used cars.

For people buying a used car I am also happy for them.

I am always happy

(when I am not with my MIL)

[t0y0ta]

1 hour ago, mikk123 said:

haha....washing machine, I like this one. Those people washed clean, we come out more dirty! 😂

Many in SG benefit from this... transaction fees, agent fees, etc etc

[Mockngbrd]

4 hours ago, Vratenza said:

You are assuming the money these foreigners bring into Singapore are all hard-earned money that they earned dollar by dollar and will feel the pinch if they are spent wantonly.

Let me put it to you that if the money that comes in are black and needs a washing, will that alter your perception?

Cars paid in full cash, MAS no raise eyebrow. 

After driving for few months sell off, you take maybe 10% hit to the price, the cash that comes out from the sale will be clean(er).

They don't call Singapore as SEA's biggest washing machine for nothing.

Why waste time with car, just buy/sell art.  Commission some ah seng to paint a few strokes here and there, "sell" for a few mil. Huat ah!

Edited July 22, 2022 by Mockngbrd

[yishunite]

4 hours ago, t0y0ta said:

Many in SG benefit from this... transaction fees, agent fees, etc etc

And minister KPI tied to GDP so huat ah!

[Ginyu]

6 hours ago, inlinesix said:

To use it as and when they are in town.  A lot of them don't care about its price tag.

Some say if need to look at price tag, means cannot afford 😂 

[inlinesix]

3 minutes ago, mikk123 said:

true. Walk into the showroom and pick a car and confirm the delivery date. If you ask price, SIA SUAY!🤣

What Singapore has become! it is not the Singapore I love anymore. 

It went with the ole man

[Ginyu]

16 minutes ago, mikk123 said:

true. Walk into the showroom and pick a car and confirm the delivery date. If you ask price, SIA SUAY!🤣

What Singapore has become! it is not the Singapore I love anymore. 

That is why don’t visit the showroom if need to see price list. Request via email to save the embarrassment 😂 

[Jamesc]

I think its great people don't look at price anymore.

We are now a more discerning society 

that looks at quality and not price.