COE bidding - 2nd bid for January 2010

[Angmokio]

Next up: ST will go big hoo-haa abt COE price increase tomorrow, interview one major AD Manager who will blow it even bigger, pple wil kan jiong, pple will chiong showroom this weekend and next...

 

job done...swee swee MIW wait for bonus liao haha

 

let me guess, the reporter has the same christain name as Fann wong hubby??

[Firefly968]

my nearest mscp is running out of lots.....

[Angmokio]

well...nothing in this world is certain. u may say this...but r u also certain that it will come down? gullible?greedy? i don tink so. most r adults who can tink for themselves. the best time to buy a car?...is the time when u r ready to buy a car. doesn't matter coe high or low, if they tink they can afford, go ahead.

 

 

I am more concern on those going for 100% loan type, zero down....i wonder any stats on these cat??

 

btw, many ppl buy things based on emotional, no logic one.

 

If adults can think, than no need CPF, ppl will eat healthy, no drink & drive case, less divorce case, Toto & 4D all close shop, no credit cards debts, HDB price will be affordable.

 

anyway not my problem.

Edited January 20, 2010 by Angmokio

[Maroon5]

let me guess, the reporter has the same christain name as Fann wong hubby??

 

haha..

 

rather i should rephrase - its not MIW wait for bonus, should be LTA one major KPI met..wait for bonus liao hehe

[Maroon5]

well...nothing in this world is certain. u may say this...but r u also certain that it will come down? gullible?greedy? i don tink so. most r adults who can tink for themselves. the best time to buy a car?...is the time when u r ready to buy a car. doesn't matter coe high or low, if they tink they can afford, go ahead.

 

u b surprised how many pple stil dunno how coe works...u may even hv heard of some urban legend that someone went to a car showroom and wanted to buy the $2 COE when the bidding just closed and just like urself, also din know whether ur COE was 21k or 20k...hehe no offence ya ;p

 

[Angmokio]

haha..

 

rather i should rephrase - its not MIW wait for bonus, should be LTA one major KPI met..wait for bonus liao hehe

 

it is too easy to milk us.

 

No wonder many countries are envy of our country management style.

[Maroon5]

it is too easy to milk us.

 

No wonder many countries are envy of our country management style.

 

yup. suck more into car ownership then tax them many fold thru ERP, petrol tax, road tax, ridiculous car insurance, bla bla..."i see open liao"

[Angmokio]

u b surprised how many pple stil dunno how coe works...u may even hv heard of some urban legend that someone went to a car showroom and wanted to buy the $2 COE when the bidding just closed and just like urself, also din know whether ur COE was 21k or 20k...hehe no offence ya ;p

 

 

the problem is, a buyer's head is only thinking of "choo chia", by hook or by crooks.

 

zero downpayment and one can drive off a brand new car are music to the ears.

 

this is especailly true when the children ask poor daddy & mummy to buy car with hard earn money.

[Shorty]

this is only my 2nd car. 1st car, very newbie, so dunno n don care. tink got enuf money to buy ok already. now 2nd car, so more interested to know the whole process of buying/changing car. more concern abt the coe. more so bcos wanna know when can get car. how muc it is, not dat concerned.

 

anyway end of the day, if buyer knows he can afford it at the price that has been agreed, that's gd enough.

[Angmokio]

yup. suck more into car ownership then tax them many fold thru ERP, petrol tax, road tax, ridiculous car insurance, bla bla..."i see open liao"

 

 

I hope you are the minority, if not those on top "jia si mi" ???

[Metalbone]

Finally break the $20k barrier, high COE is on its way again....

2nd hand dealers rejoice!

[Silver_blade]

Those who buy cars are usually adult, who can think for themselves. Only they know what is best for them.

 

Like I said in my earlier post, I have friends who have a different way to do their sums from me....but end of the day, it is their choice. If they are happy, I share their joy. So far, these friends are still doing ok after over a decade and after a few cars...no one had their cars repossessed or have to borrow $$$ from us....so I guess their method of budgeting, tho looks 'weird' to me, works for them.

[Silver_blade]

t....

anyway end of the day, if buyer knows he can afford it at the price that has been agreed, that's gd enough.

Agree.

 

Just like some of us, eg. Ahyoo2002, etc.. here who bought our cars during the peak of the recent financial crisis. They are people who said we siao, etc...but we know (I hope) what's our financial status and the risk of our investments, security of our jobs, etc...to have made that decision to buy a car.

 

 

Edited January 20, 2010 by Silver_blade

[Kangadrool]

Lets see in the next few days if ADs maintain or up prices or surprise surprise surprise...

[Leepee]

Yes ahyoo got his mz5 at super cheap.

Now selling $93k new! Fwah. I miss the $69k time. $20k appreciation in exactly one year car price! Sell second hand still can make profit on the mz5!

[Forrestcat]

Agree.

 

Just like some of us, eg. Ahyoo2002, etc.. here who bought our cars during the peak of the recent financial crisis. They are people who said we siao, etc...but we know (I hope) what's our financial status and the risk of our investments, security of our jobs, etc...to have made that decision to buy a car.

 

Yeah Bro, i agree with you!

Govt should revert back to the 70/30 rule......

Max 70% loan, Min 30% downpayment.....

[Silver_blade]

Yeah Bro, i agree with you!

Govt should revert back to the 70/30 rule......

Max 70% loan, Min 30% downpayment.....

Doubt gov will do that, unless it is really necessary. If they do that, I guess banks and car dealers will be up in arms to protest. :D

 

[Leepee]

last time 30/70 also no use.

Dealers can bypass with high overtrade on your second hand car.

Overdeclare of new car price also works partially.

Maybe bridging loan will appear in car loan, to help those who cannot afford the 30 percent downpayment. Meaning the bank will loan 70% while the 30% will come from another finance institude(or same bank itself)

You see the risk of the bank loaning 100% is the same as 70% 'for a new car. What is stopping the creative banks and dealers to come up with the 30% bridging laon scheme.

IF gov implement the 30/70 scheme.

Even if the same bank were to finance the car loan 70% and bridging laon 30% of the car price, the risk is exactly the same as current situation where banks finance 100%-90% of the car loan!!

 

Its all word play.