COE premiums continue rising; higher Nov-Jan quota unlikely to cool car demand, say dealers

[Ct3833]

On 12/7/2023 at 11:42 AM, ccc888 said:

@Ct3833 still a long way based on yr data….~4years later

those who changed new car in 2020-2021 can wait tho haha

Pure data talk, dont know chun boh. By then things might have changed too.

[Mockngbrd]

Wait in 2026 PAP say the bumper crop of COE they will PUSH BACK to later years to maintain 100k COE

[macrosszero]

On 12/8/2023 at 4:49 PM, Mockngbrd said:

Wait in 2026 PAP say the bumper crop of COE they will PUSH BACK to later years to maintain 100k COE

Need me to say for you, C** P*P?

[Mustank]

▶️ Watch this reel https://www.facebook.com/share/r/hVUWuzD4iKV89jx5

better close the kangtao before more people get to eat

Edited December 9, 2023 by Mustank

[Ct3833]

Finally, some truth is unveiled.  Of course the problem is aggravated by the low COE quota available.  Many might  have forgotten in the past, some people who took out a huge loan with long installment during high COE were caught in a difficult financial position when COE pricese came down. 

 

Easy financing and private-hire fleet expansion driving up COE demand

Seven or eight in 10 customers at Carro, a used-car marketplace, take out loans to finance their car purchases, and the majority of them register these cars as private-hire or corporate vehicles.

Mr Aaron Tan, co-founder and chief executive of Carro and Genie Financial Services, revealed these figures at a roundtable discussion organised by The Straits Times on the certificate of entitlement (COE) system on Nov 23......

https://www.straitstimes.com/singapore/transport/easy-financing-and-private-hire-fleet-expansion-driving-up-coe-demand

Edited December 11, 2023 by Ct3833

[Beehive3783]

On 11/7/2023 at 2:36 PM, Shibadog said:

the real issue is that he thinks we are dumb

That's not an issue, given that they are still holding power with 60% mandate. Are those 60% dumb? Your guess is as good as mine. No wonder he thinks we are dumb  

[inlinesix]

On 12/11/2023 at 10:28 AM, Beehive3783 said:

That's not an issue, given that they are still holding power with 60% mandate. Are those 60% dumb? Your guess is as good as mine. No wonder he thinks we are dumb  

What is the alternative?

[Mockngbrd]

On 12/11/2023 at 9:48 AM, Ct3833 said:

Finally, some truth is unveiled.  Of course the problem is aggravated by the low COE quota available.  Many might  have forgotten in the past, some people who took out a huge loan with long installment during high COE were caught in a difficult financial position when COE pricese came down. 

 

Easy financing and private-hire fleet expansion driving up COE demand

Seven or eight in 10 customers at Carro, a used-car marketplace, take out loans to finance their car purchases, and the majority of them register these cars as private-hire or corporate vehicles.

Mr Aaron Tan, co-founder and chief executive of Carro and Genie Financial Services, revealed these figures at a roundtable discussion organised by The Straits Times on the certificate of entitlement (COE) system on Nov 23......

https://www.straitstimes.com/singapore/transport/easy-financing-and-private-hire-fleet-expansion-driving-up-coe-demand

Wait pap scold u ah! 

[Didu]

On 12/11/2023 at 9:48 AM, Ct3833 said:

Easy financing and private-hire fleet expansion driving up COE demand

Our Govt not liddat say one leh....😁

Private-hire demand ‘unlikely’ to be main driver of high COE prices: Chee Hong Tat

https://www.businesstimes.com.sg/singapore/private-hire-demand-unlikely-be-main-driver-high-coe-prices-chee-hong-tat

[Voodooman]

So PHV and commercial is 37% of all passenger cars and not 23%.

On 12/11/2023 at 9:48 AM, Ct3833 said:

Finally, some truth is unveiled.  Of course the problem is aggravated by the low COE quota available.  Many might  have forgotten in the past, some people who took out a huge loan with long installment during high COE were caught in a difficult financial position when COE pricese came down. 

 

Easy financing and private-hire fleet expansion driving up COE demand

Seven or eight in 10 customers at Carro, a used-car marketplace, take out loans to finance their car purchases, and the majority of them register these cars as private-hire or corporate vehicles.

Mr Aaron Tan, co-founder and chief executive of Carro and Genie Financial Services, revealed these figures at a roundtable discussion organised by The Straits Times on the certificate of entitlement (COE) system on Nov 23......

https://www.straitstimes.com/singapore/transport/easy-financing-and-private-hire-fleet-expansion-driving-up-coe-demand

 

[macrosszero]

What’s wrong with high COE?

More people take more loan

More people have to work as PHV to offset the cost of the car

If prices are affordable, banks and PHV companies have no business, you have no PHV to ride!

[Ct3833]

On 12/11/2023 at 1:02 PM, Voodooman said:

So PHV and commercial is 37% of all passenger cars and not 23%.

 

37% from Jan to Sept.

[Voodooman]

On 12/11/2023 at 1:30 PM, Ct3833 said:

37% from Jan to Sept.

From Nov 23 ST news report. The period is the same, Jan to Sep 23.... so one set of data is not entirely correct or 15% of quota were taken up by private car buyers buying with perhaps 90% loan which CHT conveniently excluded. 37% and no impact on COE prices? Very hard to round the maths.

-----

Car-leasing companies – which bid for vehicles that are leased out as private-hire cars – won about 21 per cent of Category A COEs in the last three quarters, down from 27 per cent in the same period in 2022.

They won 23 per cent of Category B COEs, down slightly from 24 per cent in 2022.

 

[Battledome64]

On 12/11/2023 at 1:02 PM, Voodooman said:

So PHV and commercial is 37% of all passenger cars and not 23%.

 

Might as well say 40%. So it’s 4 out of 10 passenger cars

orange costing $3.99 looks like $3 correct? 

[Watwheels]

On 12/11/2023 at 9:48 AM, Ct3833 said:

Finally, some truth is unveiled.  Of course the problem is aggravated by the low COE quota available.  Many might  have forgotten in the past, some people who took out a huge loan with long installment during high COE were caught in a difficult financial position when COE pricese came down. 

 

Easy financing and private-hire fleet expansion driving up COE demand

Seven or eight in 10 customers at Carro, a used-car marketplace, take out loans to finance their car purchases, and the majority of them register these cars as private-hire or corporate vehicles.

Mr Aaron Tan, co-founder and chief executive of Carro and Genie Financial Services, revealed these figures at a roundtable discussion organised by The Straits Times on the certificate of entitlement (COE) system on Nov 23......

https://www.straitstimes.com/singapore/transport/easy-financing-and-private-hire-fleet-expansion-driving-up-coe-demand

Can take 90%-100% loan of the car cost wor. Even the loan-shark is worried, scared car buyers couldnt repay the loan on time

He said this is the case because buyers of privately owned cars can take loans of only up to 60 per cent to 70 per cent of the market value of a vehicle.

In comparison, businesses or private-hire car drivers can borrow up to 90 per cent to 100 per cent of the vehicle’s cost, he added.

With transpork minister still kenna poke I mean probe by CPIB who is going to do anything about it? The acting one? The chee hong what? See his face I doubt he will dare do anything. Want to exploit the loophole, now is the time.

Edited December 11, 2023 by Watwheels

[ccc888]

LTA likely to maintain COE quotas to prevent a big crash moving forward….

Cut future quota to fill current quota now….later change to cut current quota to fill future quotas

[Ginyu]

On 12/11/2023 at 4:13 PM, Watwheels said:

Can take 90%-100% loan of the car cost wor. Even the loan-shark is worried, scared car buyers couldnt repay the loan on time

He said this is the case because buyers of privately owned cars can take loans of only up to 60 per cent to 70 per cent of the market value of a vehicle.

In comparison, businesses or private-hire car drivers can borrow up to 90 per cent to 100 per cent of the vehicle’s cost, he added.

With transpork minister still kenna poke I mean probe by CPIB who is going to do anything about it? The acting one? The chee hong what? See his face I doubt he will dare do anything. Want to exploit the loophole, now is the time.

Can see clearly there are more taking up 90-100% loans in order to afford a car. Maybe some who used to take up only 60-70% loan are also going for 100% loan too. From car to public transport, very lao kui one, scare friends or colleague laugh so die die must continue to drive despite the exorbitant price. Ever spotted one dangling his mercedes key outside his bermudas scare people dont know he drive one🤣

Edited December 11, 2023 by Ginyu

[Benarsenal]

Aiya, they will continue to bury their heads in the sand lah. If anything it reinforces their idea that PHVs are only doing part time and not contributing to congestion.