Waiting for used car prices to drop? Not anytime soon, according to Straits Times

[Jamesc]

2 years ago I already say car prices will shoot up and all the smart people bought already.

One poster called me liar, cheat and conman and said COE was going to collapse and I was cheating people.

Did COE collapse? No

Did COE go higher? Yes

All my buy buy buy bye bye the smart people listened

and the dumb people did not.

Who is still waiting for COE to come down to get a new or used car?

Cannot be any smart people in MCF.

[Jamesc]

If you are taking your driving test soon and want a new or used car

buy now.

Don't wait to pass first.

By the time you pass that new or used car will be a few thousand more!

jamesc is having a promotion for new drivers this weekend.

Edited July 25, 2022 by Jamesc

[Ingenius]

3 hours ago, 13177 said:

I no study much, so i do not understand why used car price follow on coe pricing? If coe go up, used car price go up? I find no logic le? Esp when the used car dealer bought their used car on low price or before coe price went up?

It's about demand and supply, even for used car. When new car prices goes up, some people will be priced out, and so they will have to turn to used car, driving up its demand. 

[Fitmugen]

Actually gahmen also smart la. All the kpkb noise are from people who haven’t bought a car and only atas want to buy new car. This group of people are in the minority.

imagine if gahmen say COE now drop to $50k People who bought recently will complain. Used car dealer will cry. And of course gahmen revenue from COE will drop like siao and other taxes need to increase to make up the shortfall.

why need to change the policy to make a small group of people happy?

 

[Georgechanhc]

4 hours ago, Jamesc said:

Its not used car dealers that won't drop the price.

Hence used car dealers are the bad guys.

Conmen, liars, cheats and scum.

But how come no one says

even a private owner selling his own car also won't drop his price?

Why no one scold him for being greedy and not dropping his price?

How about the owner that sells his used car to the car dealer

He also won't drop his price. Isn't he also greedy?

But no! No one says anything about the owners selling their cars at high high prices!

@Jamesc After more 10 years, I finally posted...  this is interesting mainly due to the fact that nobody wants to get short-changed. There's no surety that if I sell my car low to a used car dealer or another owner, it will be resold lower. So rather than getting screwed over, I rather not sell lower.

Better to be called names than to cry over spilled milk.

Edited July 25, 2022 by Georgechanhc

[Ginyu]

Come global recession, when job is lost just like everyone else,  income disrupted then the price will start to fall 😂 

[Jamesc]

Great first post.

Post more.

1 hour ago, Georgechanhc said:

@Jamesc After more 10 years, I finally posted...  this is interesting mainly due to the fact that nobody wants to get short-changed. There's no surety that if I sell my car low to a used car dealer or another owner, it will be resold lower. So rather than getting screwed over, I rather not sell lower.

Better to be called names than to cry over spilled milk.

 

[Stratovarius]

7 hours ago, 13177 said:

I no study much, so i do not understand why used car price follow on coe pricing? If coe go up, used car price go up? I find no logic le? Esp when the used car dealer bought their used car on low price or before coe price went up?

Simple reason. Must follow market rate, if not nobody will buy. Imagine now high coe and if sellers are selling their low coe cars at the original depreciation, nobody will buy new cars.

And if now coe low, high coe used cars have to follow the current depre or nobody will buy used cars. But there is a limit how low it can go. If they cannot make a profit, they only buy back at paper value or ask you go scrap. So there is really no advantage will buying cars at high coe unless 100k is pocket change to you.

[Ody_2004]

wah.. been reading this thread and i can say easily 60% of the post belong to @Jamesc

Can see he is heavily invested in his used car business! whahahahahaha..

 

[Jamesc]

If it was my MIL

she won't stop reminding him.

2 hours ago, yishunite said:

I told my bro 2 yrs ago buy now before COE ramp up... He say rather wait until his older one turns 12 then not allowed to squeeze them all inside a single taxi with grandma

Now he lppl have to use 2x taxi if going out with grandma and when he look for 2nd hand "low COE" car all price depre the same as new car except paper value like sai

Lol... I feel so bad until I wont say anything to him

 

[Jamesc]

36 minutes ago, Ody_2004 said:

wah.. been reading this thread and i can say easily 60% of the post belong to @Jamesc

Can see he is heavily invested in his used car business! whahahahahaha..

Its my rice bowl.

I do the massage biz just for the cherry on top!

Edited July 25, 2022 by Jamesc

[Vratenza]

4 hours ago, Ginyu said:

Come global recession, when job is lost just like everyone else,  income disrupted then the price will start to fall 😂 

Not really if the current price is propped up by the ultra rich and PHV/Taxis. 

 

[Ody_2004]

7 hours ago, Jamesc said:

Its my rice bowl.

I do the massage biz just for the cherry on top!

You should be a very successful entrepreneur. For me I get dry old raisin.. excuse me while i go wash my mouth.. whahahahahahha.. 

[Philipkee]

15 hours ago, Jamesc said:

2 years ago I already say car prices will shoot up and all the smart people bought already.

One poster called me liar, cheat and conman and said COE was going to collapse and I was cheating people.

Did COE collapse? No

Did COE go higher? Yes

All my buy buy buy bye bye the smart people listened

and the dumb people did not.

Who is still waiting for COE to come down to get a new or used car?

Cannot be any smart people in MCF.

Still waiting for coe to drop so i can buy my next car.  Next car probably will be phev or hybrid or electric. Won't be full ICE.

Still got 8 years to go for my Honda city.

[Jamesc]

Not successful at all.

I hand to mouth one lah.

3 hours ago, Ody_2004 said:

You should be a very successful entrepreneur. For me I get dry old raisin.. excuse me while i go wash my mouth.. whahahahahahha.. 

 

[Jamesc]

Can I buy back your Honda City?

I give you good price.

2 hours ago, Philipkee said:

Still waiting for coe to drop so i can buy my next car.  Next car probably will be phev or hybrid or electric. Won't be full ICE.

Still got 8 years to go for my Honda city.

 

[Jamesc]

COE is high because so many customers are 

I see I like I buy type.

They don't even see COE.

People don't understand we have many rich people in SG.

I don't understand why people cannot understand this.

[Jamesc]

In some people's mind all the new cars are bought by ginas taking loans to the max.

Yeah maybe a few but the majority is filthy rich customers.

That's why COE is so high and it will stay high unless we get a really bad recession.

Recession also price drop a bit the ultra rich will go in and buy.