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

[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.

[Philipkee]

30 minutes ago, Jamesc said:

Can I buy back your Honda City?

I give you good price.

 

200k i can consider.  300k, can arrange appointment.

400k.. where do I sign? 

[Philipkee]

23 minutes ago, Jamesc said:

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.

Not true.  You need a really big recession for it to happen.  And it can happen.  A lot of people say cannot happen but it keeps happening.

AFC, SARS, GFC, COVID-19 etc

 

[inlinesix]

3 minutes ago, Philipkee said:

Not true.  You need a really big recession for it to happen.  And it can happen.  A lot of people say cannot happen but it keeps happening.

AFC, SARS, GFC, COVID-19 etc

A big recession will further widen the gap btw have and don't have.

[Philipkee]

23 minutes ago, inlinesix said:

A big recession will further widen the gap btw have and don't have.

But the poor can become rich and the rich can become poor as a result.  Depends on how much the rich lose and if the poor gets lucky.

[inlinesix]

2 minutes ago, Philipkee said:

But the poor can become rich and the rich can become poor as a result.  Depends on how much the rich lose and if the poor gets lucky.

Rich will have proper hedging tool to become poor. 

Rich become poor usually are speculators.  These are gamblers.  Not really the Rich.

The Poor will not have the necessary tool to become rich during a recession.

 

[Vratenza]

4 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.. 

Remember... whatever you post on internet is forever......😁

Get ready to sleep on the couch tonight bro 😋

[DOBIEMKZ]

12 hours ago, Jamesc said:

Its my rice bowl.

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

@Jamesc Wow! That dish looks so sensuous! Must be very tasty!
I thought you are now training for the next Master Chef Singapore season!😄

[Ginyu]

1 hour ago, Jamesc said:

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.

Statistics showed Singapore household debt close to USD300billion. Many are still taking loan to buy new car la 😂 

Edited July 26, 2022 by Ginyu

[Jamesc]

They not members of MCF.

We all debt free and full cash here.

2 hours ago, Ginyu said:

Statistics showed Singapore household debt close to USD300billion. Many are still taking loan to buy new car la 😂 

 

[Jamesc]

2 hours ago, Ginyu said:

Statistics showed Singapore household debt close to USD300billion. Many are still taking loan to buy new car la 😂 

300 billion is a lot of money but divided by our population of say 5.5 million.

Isn't that like only 50k?

If you own a million dollar HDB what is a debt of 50k?

[Mustank]

My friend now tempted to sell her car for very high price then take bus take mrt

[Scion]

23 hours ago, Philipkee said:

Not true.  You need a really big recession for it to happen.  And it can happen.  A lot of people say cannot happen but it keeps happening.

AFC, SARS, GFC, COVID-19 etc

 

 

in GFC and Covid, the economy bounced back rather quickly due to the unprecedented QEs and near zero interest rates

now with inflation skyhigh, the central banks are all stuck between rock and a hard place 

loosen monetary policy -> worsen inflation

tighten monetary policy -> recession

😁

[mersaylee]

On 7/26/2022 at 9:23 AM, Philipkee said:

200k i can consider.  300k, can arrange appointment.

400k.. where do I sign? 

Too low lah...especially when your Honda can fly over any City

...400k only for one tyre? 😁

[Jamesc]

1 hour ago, Mustank said:

My friend now tempted to sell her car for very high price then take bus take mrt

She should.

I keep reading got recession coming.

Suddenly COE come down and she buy

a brand new car at the price she got for her car.

[13177]

1 hour ago, Mustank said:

My friend now tempted to sell her car for very high price then take bus take mrt

Wait sell liao, coe never come down even in the next few years then your friend would need to take bus/MRT permanently liao?! Lol.

[L23]

On 7/26/2022 at 9:57 AM, inlinesix said:

Rich will have proper hedging tool to become poor. 

Rich become poor usually are speculators.  These are gamblers.  Not really the Rich.

The Poor will not have the necessary tool to become rich during a recession.

 

This is 100% true.

If the poor can become rich during recession, he/she would have become rich during the better time.

What the poor lacks is: network, tool and formula

Edited July 27, 2022 by L23

[BabyBlade]

On 7/25/2022 at 5:37 PM, 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.

"Welcome" to Sgcarmart/Mycarforum!