How's the current COE trend?

[Irene06]

a bit hard leh.. cos he quite nice and help us a lot

somemore he is my friend's friend

[Soya]

why $300?

I ask him.. he just say cost it went up $700

dun think this is the answer.

 

dunno want to give or wait..

wan to get rid of my old car soon...

 

ha...that's the oldest trick in the SE's books. dun fall for it.

 

dun tink the sales contract will say they will be bidding X dollars exactly. hence, there's usually a sufficient buffer for them to absorb. remember, he/she doesn't get their commision and fill their quota until a car is registered. heard of cases where SE ask them to top up $1-2k and after customer tell them to fly kite, they still got their car.

[Nozzie]

Correction, it's the lower of the 2 values and it is the current results not the day s you sell or scrap.

 

Eg, Cat A = $24,000 and Open = $25,000, in future your COE is valued and depreciated at $24,000.

 

now if CatA = $28,000 and Open =$25,000 then COE valued at $25,000

 

 

 

I'm sure your current car got no value liao (mayb at scrapped) so can wait if have to. $300 is still money! Can buy a few niceties to deco your new car, dun waste!

 

Just try your luck with the SE or talk to his/her manager to threaten such idea proposed! If not your style to bang table, then try sweet talk them lor... Just rememeber they need to rid the COE anyway, why not to you!

[Irene06]

okie.. so now cat a is $23.7k and open is $23.3k so it is valued at $23.3k, am i right?

[Yellowtang]

There is a possibility for that to happen. But for 1-2K i'll really consider if I want to top-up...but here it's $300. that's really a small sum, considering the current state of affairs..I'll just take it as a payment for freebee I got that had to pay. actually $300 in comparison to the 60k is really a drop in the ocean...

[DarkLord]

Actually I agree that since you've committed to the deal with the dealer, they will ensure that you get the car in the next few bids, so for $300 I would just take the car. remember that every month you wait, the value of your old car also goes down, unless you have locked in the value of the trade-in car irrespectively of when you get the new car, then you can wait..but likely not the case. Anyhow $300...take it as payment for 1 of the freebees that came with the car...

 

When buying a car, I believe there isn't really a best time..it's the right time for you. when you need it then get it. If it's now...it's now. anyway the minute you get the car in your hands, it starts to depreciate so you're already losing money... Especially since you mention that there is a possiblity of your current car breaking down..then it's likely to cost you more than $300..

 

As for the COE, it will be pegged to the price of the COE the month you got the car, not when you sell the car. The COE price will be printed on your log card. Since the difference between open cat and cat A is small..then there's no issue..

But she hasn't got her car yet mahz! So no worries about the value depreciating right?? It starts from the time her car is registered anyway! Just wait for the next round lorz!

[Yellowtang]

Actually all depends if there is depreciation on the old car as well...cos that make a difference

[Soya]

tink that's precisely the psyche that those SEs are preying upon. i never top up and always make it clear to the SE at the outset. never failed to get my car on the 1st bid even if it means they hv to pay more for open Cat.

[DarkLord]

Oh, she's trading her old car? Gets abit complex then.

[Yellowtang]

I know. I would not top-up if I can help it. But you have to sometimes look at the alternative. I'm not sure if the trade-in price for the car is already locked in. if so, then just sit back and wait.

 

If on the other hand you are losing money on the old car while waiting for the new car to arrive, then you have to weight the cost. If the old car breaks down next week...and it cost more than $300....which you cannot be sure it won't or will and no one better than the owner would know this, expecially since I'm not going to tell the SE that my current ride has xxx problems (cos that would lower the value of the car) the SE is going on current practices...then you've actually saved money by topping up....looking at it in totally...and a piece of mind

[Irene06]

ya.. you got a point there.

we have locked in the price.

[Yellowtang]

Since you have the price locked in, then actually I think the only consideration you would want to make is the past history of the your current car. how many times it's broken down in the past year, has it been more frequent. Are the problems engine related and is there a "major" problem with your current engine. I believe you should have a regular mechanic that you go to and "hopefully" trust. have a chat with him/her they would be able to give you an option on whether the car can last another month.

 

I did that with my last ride, checked with my mechanic if the car could last another month as I was hearing noises which I was not too comfortable about....but was assured that for 1 month..should be no prob..

 

So do that and if some assurance can be sought..then you have better piece of mind to hold on for 1 more month...if not then take the $300 offer and make sure the new car comes asap. confirm the exact time of delivery etc...else it changes things again

[Irene06]

thinking of negotiating with them on the $300..

hope can lower down the price.

or waive it if possible

[Yellowtang]

do that. but from experience, you're going to need all the nego skill you will need. Knowing their practices they are bent on getting more money from you. Good luck. Don't show that you want th car urgently..but then again, since it's a friend's friend, should be much easier..they can always earn the $300 from someone else or one they don't know