Buying a car without COE

[inlinesix]

You realise that the LTA/Govt "cleverly" never put the word TAX into any of these car related "expense"?

 

Registration Fee

Additional Registration Fee

COE Premium

CEVs Rebate/Penalty

 

The only out right stated tax are GST and Road tax.

 

Registration Fee: You have to pay $$$ to LTA to register your car mah

Additional Registration Fee: It is refundable along 10 yrs period.  How can it be tax?

COE Premium: Payment to own a car.  How can it be tax?

CEVs Rebate/Penalty: It is a financial inducement to use eco frenly (from LTA/NEA perspective).  How can it be tax?

:XD:

[inlinesix]

the main reason coe is included in car price is because of loan ... it is sell as a package

if separate coe out ... coe must pay cash

then got coe already ... car loan not approve how?

if apply loan first then user bid coe exceed budget how?

that's why coe + car = 2 in 1 as 1 price and the loan is approved based on that 1 price ... manipulated by dealer

if got loan buy car first but kiam siap and not able to secure coe how? lol

that's why coe and car must come together not 1 after another ... those lucky draw got car no coe practically is sell back to agent ... lol

 

That's why the best way to control car population is via SingPass COE bidding.

 

No cash no talk.

 

A lot of marginal buyer will be pushed out of the market.

 

Of course, leave the open cat to dealer to bid for the richie + marginal buyer.

[TangoElite]

You realise that the LTA/Govt "cleverly" never put the word TAX into any of these car related "expense"?

 

Registration Fee

Additional Registration Fee

COE Premium

CEVs Rebate/Penalty

 

The only out right stated tax are GST and Road tax.

 

that's because of the governing authority behind these charges

 

under IRAS umbrella will be called tax

under LTA purview will be called fee, exception road tax! 

 

under customs will be called duties

 

 

Edited February 15, 2017 by TangoElite

[Vratenza]

Actually if loan is a big concern for bundling COE into the purchase price, having the COE bidding tied to NRIC (self bid) as per car license plate bidding may be better.

 

take a 100K B&B car now. If COE is 50K, the COE component is 50% of the total car price.

 

Making the buyer bid for own COE, and assuming the premium remains at 50K, it is essentially asking the buyer to pay 50% upfront cost.

Then allow the buyer to take 100% loan on the car purchase over 5 years.

 

 

The banks will be the gate keeper for determining if the buyer is over stretching his finance and they will have to make sure they loan they give is not a write off case.

 

 

 

 

 

 

 

[flashbang]

Bopian la, after 50 years you know this is the zheng hu style. It is about fair for everyone, except the people themselves.

[inlinesix]

Actually if loan is a big concern for bundling COE into the purchase price, having the COE bidding tied to NRIC (self bid) as per car license plate bidding may be better.

 

take a 100K B&B car now. If COE is 50K, the COE component is 50% of the total car price.

 

Making the buyer bid for own COE, and assuming the premium remains at 50K, it is essentially asking the buyer to pay 50% upfront cost.

Then allow the buyer to take 100% loan on the car purchase over 5 years.

 

 

The banks will be the gate keeper for determining if the buyer is over stretching his finance and they will have to make sure they loan they give is not a write off case.

 

There is no reason why bank should take up this role.

 

Moreover, loan quantum is based on the final purchase price.

[Vratenza]

now the 50%/70% loan quantum is based on the car+coe price.

 

if we take out the COE component, that means the percentage can even go up to 100% of the car price since the buyer already paid for almost 50% of the total car purchase price.

 

There is no reason why bank should take up this role.

 

Moreover, loan quantum is based on the final purchase price.

 

[Victor68]

Let me tell you guys what. If now it is the reversed. The big finance companies and dealers are losing out to the buyers. You think the COE system stays?

[inlinesix]

Let me tell you guys what. If now it is the reversed. The big finance companies and dealers are losing out to the buyers. You think the COE system stays?

 

No way it will lose out to buyers.

 

Currently, COE is the most effective way to control car population while ensuring ppl get a chance to buy 1 if you could afford.

 

You want to try Beijing way? It is lucky draw style.