COE solutions??

[Wind30]

My two cents

 

I think COE should be tied to a person not a vehicle. You also cannot rebate the COE halfway. Once you buy it, you have to use it up for 10 years.

 

Reasons

 

1) the current system is VERY UNSTABLE. It encourages huge supply spikes because when the prices go down in 2005, 2006, it made EVERYONE who has bought an expensive COE in 2002, 2003 kill their cars to get COE rebate. This is super wasteful as the car is only 3 years old and it makes a huge problem down the road as there is NO COEs expiring in 2012, 2013. This is just stupid. The system will converge all the supply into bumper years while other years become famine.

 

2) allowing people to transfer their COE to different cars is better because after all, COE is to restrict number of cars on the road. If I kill my car, why should I need to buy another COE for a new car if my COE still have some years? This give Citizens more stability and peace of mind. I mean if I am driving a $10k COE car now, and the car gives me problems, what I am to do?

 

3) By preventing COE rebate, it will make people bid LESS. Because current mentality is bid more never mind, if COE drops in the future, I get kill the car and bid for a new one. By tying people to a 10 year period, it will really drive down COE bid price.

 

4) by tying it to people, it is so much easier to implement household restrictions. Married couples can only own 1 car. 2nd car is 3x the amount or something like that.

Edited December 25, 2012 by Wind30

[Kangadrool]

You can cry until cow comes home, the gahment still believe present system is almost perfect.

 

So many people giving ideas on how COE should be distributed, each with their own agendas.

 

The only "workable" and "fair" solution is actually

 

1. restrict bidding to buyers only, i.e. dealers not allowed to bid on behalf of buyers.

 

2. pay COE in cash, no bank loan allowed.

 

3. As for passenger car registered under company name, pay double COE prevailing premium.

Edited December 25, 2012 by Kangadrool

[Civicblade]

The current system of having the COE accompany the car is a good idea. This allows individual to offload a car if the need arises and monetarize the asset. The current car market, new and used is very market oriented within a fixed number of vehicle allowed at any one time.

 

Your "solution" of pegging the COE to an individual (a person or company) does not solve the high COE price issue, in fact it does nothing. The same number of COE available remains the same, the income level of the population is the same, the availabilty of loans for car purchase is the same so the outcome is also the same. Your "solution" just creates more paper work as the car sale is separate from COE sales.

[Civicblade]

Just to inform all "ill-informed" motorist that the only way to reduce COE prices is to allow more vehicles on the road. This means worse jams in the morning and evening peak hours. Imagine having to spend 1.5-2.0hrs travelling from Woodlands to CBD and 2.0hrs from Tampines to Jurong, probably worse. If everyone can stomach that, then by all means release 5 times or 8 times more COE and let it crash to $1.

 

The problem is, the rich and influential in Singapore do not want that to happen. People who can afford prefers to keep the road relatively jam free and pay for the privileges of using it.

Edited December 25, 2012 by Civicblade

[Wind30]

The current system of having the COE accompany the car is a good idea. This allows individual to offload a car if the need arises and monetarize the asset. The current car market, new and used is very market oriented within a fixed number of vehicle allowed at any one time.

 

Your "solution" of pegging the COE to an individual (a person or company) does not solve the high COE price issue, in fact it does nothing. The same number of COE available remains the same, the income level of the population is the same, the availabilty of loans for car purchase is the same so the outcome is also the same. Your "solution" just creates more paper work as the car sale is separate from COE sales.

 

It is to reduce fluctuations in the market which is bad for everyone. Why should someone like me who has bought a cars 5 years ago be paying 10k COE while another is paying 80k?

 

My solution hopefully will stabilize the COE at maybe $30k-$40k. The problem with the current system is that it is inherently very unstable.

 

I can TELL you when COE drops in the future EVERYONE who has bought a car now will SELL away their car, even though it is only 3 years old. And the supply crunch will appear 10 years later... this is just not good for everyone.

 

My solution will definately be more efficient and less paperwork as everyone is tied for 10 years. no exporting of 3 years old car. I can't see how selling away 3 year old cars can benefit ANYONE except car dealers.

Edited December 25, 2012 by Wind30

[Scion]

my solution is...

 

abolish COE system

 

according to LTA, there are 945k vehicles (all types) on the road in 2010

 

there are 3.2m Singapore citizens, if every 1 in 3/4 Singaporeans (roughly 1 every household) buys a car, the number will be kept below 1m (which is the current number)

 

if PRs and foreigners want to buy cars, they have to pay a certain amount of levy

 

 

[Wind30]

Just to inform all "ill-informed" motorist that the only way to reduce COE prices is to allow more vehicles on the road. This means worse jams in the morning and evening peak hours. Imagine having to spend 1.5-2.0hrs travelling from Woodlands to CBD and 2.0hrs from Tampines to Jurong, probably worse. If everyone can stomach that, then by all means release 5 times or 8 times more COE and let it crash to $1.

 

The problem is, the rich and influential in Singapore do not want that to happen. People who can afford prefers to keep the road relatively jam free and pay for the privileges of using it.

 

 

duh... so you got no solution???

 

COE is there for a reason. But if the system encourages some years of $10k COE and some years of $80k COE, it is broken.

[Wind30]

my solution is...

 

abolish COE system

 

according to LTA, there are 945k vehicles (all types) on the road in 2010

 

there are 3.2m Singapore citizens, if every 1 in 3/4 Singaporeans (roughly 1 every household) buys a car, the number will be kept below 1m (which is the current number)

 

if PRs and foreigners want to buy cars, they have to pay a certain amount of levy

 

uncle, we have commercial vehicles...

[Civicblade]

I have no solution for bumper crop years of COE and drought years of COE. LTA admitted that the reason for the feast and famine situation is a flaw in the formula that they use to calculate the allowable vehicle population growth numbers and an inappropriate time lag used in the formula between vehicle deregistration and COE availability.

 

It is obvious from my previous posts that I find the current system adequate for controlling vehicle population and that one of my point is the pegging the COE to an individual does nothing to the price of COE or the feast and famine situation encounter from 2006 to present day.

 

To the threadstarter, be open to honest feedback on your suggestions. If you have a good idea, it will be endorsed by a majority of reasonable people, if you receive more feedback that may not sound good to your ears, then it is perhaps good to reflect on the inadequacies of your "solution".

Edited December 25, 2012 by Civicblade

[Throttle2]

You can cry until cow comes home, the gahment still believe present system is almost perfect.

 

So many people giving ideas on how COE should be distributed, each with their own agendas.

 

The only "workable" and "fair" solution is actually

 

1. restrict bidding to buyers only, i.e. dealers not allowed to bid on behalf of buyers.

 

2. pay COE in cash, no bank loan allowed.

 

3. As for passenger car registered under company name, pay double COE prevailing premium.

 

 

Like !

Like !

Like !

[Duckduck]

You can cry until cow comes home, the gahment still believe present system is almost perfect.

 

So many people giving ideas on how COE should be distributed, each with their own agendas.

 

The only "workable" and "fair" solution is actually

 

1. restrict bidding to buyers only, i.e. dealers not allowed to bid on behalf of buyers.

 

2. pay COE in cash, no bank loan allowed.

 

3. As for passenger car registered under company name, pay double COE prevailing premium.

 

point 2 might as well no finance for car n coe. sure crash coz suddenly many bank acct empty liao

[Kangadrool]

point 2 might as well no finance for car n coe. sure crash coz suddenly many bank acct empty liao

 

That's why they will come up with plenty of reasons (or rather excuses) that most buyers prefer dealers to bid on their behalf, not allowing bank loans is actually pricing out the mid and lower income groups out of reach to car ownership, ............. crap crap crap, and more craps.

 

We all know that many of these artificial schemes were conjured up to boost revenues and also spinoff effects to big corporations like banks, never for common folks.

 

But, not allowing bank loans and only buyer/owner bidding will bring to a more sane COE premium level. I don't think it will crash (with limited pool of COE). That's why is fairer to both sides and not skewed towards the authority.

Edited December 25, 2012 by Kangadrool

[Civicblade]

It is the majority of motorist who wants un-used COE to be given back to car owners as a rebate, it used to be a rebate in the form of ARF tax offset when you register for a new car, this created a "black" market for buying and selling of PARF and COE rebate. This feeds quite a number of people in the scrap/export trade. When the government announces cash rebates, it effectively reduces the penalty on car owners by removing the need to pay "service" fees for converting their rebates from tax offset form to cash (through these dealers).

 

Yes, a one off non-rebatable COE will probably cause a blip in the COE prices, perhaps for a year or so. Once the population get used to the idea that COE is a one off upfront (no recourse for rebate) tax that needs to be paid to the government for ownership of a car, the COE will move back up. Even if it doesn't, ask around, how many motorist would want to pay a one off COE that get gobbled up by the government and you have no recourse even if due to whatever circumstance, you are not able to use the car anymore (disability, illness, death, financial situation, relocation.. etc). Would you, as a motorist then prefer a rebate system whereby the un-used portion of the COE is returned to you should you decide the deregister the car?

 

My two cents

 

3) By preventing COE rebate, it will make people bid LESS. Because current mentality is bid more never mind, if COE drops in the future, I get kill the car and bid for a new one. By tying people to a 10 year period, it will really drive down COE bid price.

Edited December 25, 2012 by Civicblade

[Civicblade]

Allowing loans for car purchase opens up avenues for middle and low income people to own cars, by spreading repayment over years.

 

Car loans in Singapore is an unnecessary evil while housing loan is a necessity and taken a holistic view of things, availability of housing loans is a god-send.

 

That's why they will come up with plenty of reasons (or rather excuses) that most buyers prefer dealers to bid on their behalf, not allowing bank loans is actually pricing out the mid and lower income groups out of reach to car ownership, ............. crap crap crap, and more craps.

 

We all know that many of these artificial schemes were conjured up to boost revenues and also spinoff effects to big corporations like banks, never for common folks.

Edited December 25, 2012 by Civicblade

[Wt_know]

coe system is not the core problem although far from perfect

the high and low quota screw up coe price point like a roller coaster ride

Edited December 25, 2012 by Wt_know

[Wt_know]

the main problem is the increased of population in lightning speed resulting hdb no enough, bus no enough, mrt no enough, of course coe is also no enough

Edited December 25, 2012 by Wt_know

[Hosaybo]

no perfect solution. Whatever said, there will be a group that dun like cos they are affected.

Years of low coe and 100% loan has led to many people jumping in to own a car. Think to me, reasonable to have at least a certain 20-30% of downpayment.

[Hosaybo]

no perfect solution. Whatever said, there will be a group that dun like cos they are affected.

Years of low coe and 100% loan has led to many people jumping in to own a car. Think to me, reasonable to have at least a certain 20-30% of downpayment.