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Why COE can loan ah?


Soya
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Let's cut to the chase: COE is a tax. So is the customs duty, etc.

 

Stamp duty for property is also tax. So is ABSD. 

 

But COE & customs duty can take loan over 5 yrs to pay. But property-related taxes cannot be included in loan. Income tax oso cannot take loan to pay.

 

Property loan subjected to TDSR.

 

But car loan close one eye (sometimes even 2 eyes as some dealer ads shout "no need payslip").

 

Buy new 'gahmen-issued & controlled' HDB BTO, property agent cannot "package" a price for you or force u to take a loan & insurance from a certain bank in order to buy a BTO flat.

 

But ADs selling u 'gahmen-issued & controlled' COE can "package" any price they want under your name as they like + without you knowing how much they are paying to derive at the selling price? 

 

Uniquely S'pore or simply double, triple standards being practiced by the respective authorities?  [gossip]

 

 

 

 

 

 

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COE is a Certificate of Extortion.

 

Cleverly disguised as a tool to "curb the car population", but essentially a revenue generating cash cow for the relevant authorities.

 

Then came the double edged sword of Every Road Pays (ERP) after COE was introduced.

 

It should be an " either or ", NOT having both COE and ERP to compliment each other. Motorists already pay road tax to begin with.

Edited by Vinceng
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It's not a tax, but a string of text in some digital format which you can view online after your dealer successfully bided for on your behalf which you can feel shiok about it for a moment.

Edited by Kangadrool
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COE is a Certificate of Extortion.

 

Cleverly disguised as a tool to "curb the car population", but essentially a revenue generating cash cow for the relevant authorities.

Yes this one is called one bird two stones hehe
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Let's cut to the chase: COE is a tax. So is the customs duty, etc.

 

Stamp duty for property is also tax. So is ABSD.

 

But COE & customs duty can take loan over 5 yrs to pay. But property-related taxes cannot be included in loan. Income tax oso cannot take loan to pay.

 

Property loan subjected to TDSR.

 

But car loan close one eye (sometimes even 2 eyes as some dealer ads shout "no need payslip").

 

Buy new 'gahmen-issued & controlled' HDB BTO, property agent cannot "package" a price for you or force u to take a loan & insurance from a certain bank in order to buy a BTO flat.

 

But ADs selling u 'gahmen-issued & controlled' COE can "package" any price they want under your name as they like + without you knowing how much they are paying to derive at the selling price?

 

Uniquely S'pore or simply double, triple standards being practiced by the respective authorities? [gossip]

Agree with the rest that coe is not a tax as it can be resold, sometimes even at a profit if bought at the right price.

 

As for income tax and property tax, can be paid in instalments and some credit cards can even be used. So actually can be loaned.

Edited by Invigorated
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COE is a Certificate of Extortion.

 

Cleverly disguised as a tool to "curb the car population", but essentially a revenue generating cash cow for the relevant authorities.

 

Then came the double edged sword of Every Road Pays (ERP) after COE was introduced.

 

It should be an " either or ", NOT having both COE and ERP to compliment each other. Motorists already pay road tax to begin with.

 

 

They serve different purpose: one controls population (COE), the other controls usage (ERP).

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Let's cut to the chase: COE is a tax. So is the customs duty, etc.

 

Stamp duty for property is also tax. So is ABSD.

 

But COE & customs duty can take loan over 5 yrs to pay. But property-related taxes cannot be included in loan. Income tax oso cannot take loan to pay.

 

Property loan subjected to TDSR.

 

But car loan close one eye (sometimes even 2 eyes as some dealer ads shout "no need payslip").

 

Buy new 'gahmen-issued & controlled' HDB BTO, property agent cannot "package" a price for you or force u to take a loan & insurance from a certain bank in order to buy a BTO flat.

 

But ADs selling u 'gahmen-issued & controlled' COE can "package" any price they want under your name as they like + without you knowing how much they are paying to derive at the selling price?

 

Uniquely S'pore or simply double, triple standards being practiced by the respective authorities? [gossip]

Renewing Coe? [grin]
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COE represents a right to vehicle ownership.

 

It is a pseudo tax but technically it is not a tax.

Consumption tax is still a tax.
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COE is certificate of entitlement.. gives u the right to drive n use the vehicles for 10 years...COE its a piece of paper(or an entitlement u call it)... not a tax...its a right, not a tax..lol..tax is like 10%, 15% (eg for house).. coe uses open bidding, and not using percentage of the bid price.. its open bidding system, its a good system, it controls no.of cars on road... i like this system.. but the dealers manipulate and play the market until like that...hais... :mellow:

 

 

but i think best is to remove whatever loans for coe and cars.. u see ah, even with loans, there are dealers also able to bypass car loan curbs, which is not fair for consumers.. they should follow MAS rules of 40% or 50% downpayment i thought?? since dealers still able to bypass the MAS rules n regulations on car loans, I suggest imposing stricter laws and rules: e.g 80% downpayment or 100% downpayment for cars.. if not the dealers like manipulating and playing with coe system(can come out with tricks like bypass car loan curbs)... they bid high coe, bypass car loan curbs, then ask ppl take inhouse car loans, charge higher interest rates, they earn money... in the end consumers lugi(lose money), cuz consumers are being asked to pay a higher price...hais.. :scared: not fair...

 

 

http://www.straitstimes.com/singapore/transport/lenders-bypassing-car-loan-curbs

Edited by Fruit-tart
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