COE Bidding - November 2023

[Fcw75]

On 11/30/2023 at 4:55 PM, Cscbb said:

It's not "logic" but facts. We singaporeans bid against each other to set the COE price. The government does not set the price. And, by law, the govt owes you the "unused" portion of the COE in the car's Paper Value. If we are mature, we should discuss facts, not misinformation.

Orrrr….so our fault again lor.

I don’t know what you have been smoking but please share with us. We want some too! 

[RadX]

IB season starts early?

[thebestbees]

High coe causing some haywire 

[Ct3833]

On 11/30/2023 at 9:50 AM, Cscbb said:

The gahmen is not "making money" from COE. Don't forget COE and car taxes are equally depreciated in the residual Paper Value. And you can encash this Paper Value and use it towards the purchase of new or used car. Just buy what you can afford, new or used. Wrong to keep blaming gahmen.

Of course government do make money from COE. Vehicle quota premiums contributes to 4.3% of government income, this is over and above excise tax ARF, VES surcharge.  

Edited November 30, 2023 by Ct3833

[inlinesix]

On 12/1/2023 at 12:06 AM, Ct3833 said:

Of course government do make money from COE. Vehicle quota premiums contributes to 4.3% of government income, this is over and above excise tax ARF, VES surcharge.  

Off my head, it is about $3.5b in 2022/2023.

[Ct3833]

On 12/1/2023 at 6:56 AM, inlinesix said:

Off my head, it is about $3.5b in 2022/2023.

COE $3.8b , vehicle tax $2.2b. 

[Ct3833]

On 11/30/2023 at 4:55 PM, Cscbb said:

It's not "logic" but facts. We singaporeans bid against each other to set the COE price. The government does not set the price. And, by law, the govt owes you the "unused" portion of the COE in the car's Paper Value. If we are mature, we should discuss facts, not misinformation.

Fact is we did not bid for COE, it is the dealers who bid and compete for COE so that they can sell more cars,  at the expense of buyers pocket. If government bar the dealers from bidding, allowing only individuals to bid for COE on their own, that will give the true reflection of COE price, but we know LTA wont do that because that will hurt their income.

 

Edited November 30, 2023 by Ct3833

[inlinesix]

On 12/1/2023 at 7:33 AM, Ct3833 said:

Fact is we did not bid for COE, it is the dealers who bid and compete for COE so that they can sell more cars,  at the expense of buyers pocket. If government bar the dealers from bidding, allowing only individuals to bid for COE on their own, that will give the true reflection of COE price, but we know LTA wont do that because that will hurt their income.

Don’t ban la.

Just change to SingPass/CorpPass bidding for all cat except Open Cat.

🤭

[Mkl22]

On 12/1/2023 at 8:48 AM, Cscbb said:

The facts and reality is the COE price is bidded by singaporeans, not set by govt. And the Paper Value of your car CAN be encashed and used towards the purchase of your next new or used car.

Buy what you can afford. (And your spending power is directly related to your earning power. And your earning power is directly related to your work skills, talents, abilities and attitude.)

this i agree. cause the buyer decides the price of the car he is willing to pay by signing on the contract.

i support pay as you bid. makes the system more messy, but with mess, one can possibly snag a decent deal.

[thebestbees]

@Mkl22 LTA’s gonna come up with tons of excuses why this isn’t good