COE to be discussed in Parliament May 14

[Hachi]

Just reinstate the 30% down payment rule.

[Roadie]

I am sure Jap/Korean carmakers are lobbying hard for COE reduction.

Any scheme where COE becomes cheaper will help their sales.

 

Current setup is geared towards continental car makers.

Of course they are also helped by the weak Euro and strong Yen.

[Thaiyotakamli]

Was surprised all MCF bro here qualified to join the parliament discussions hahaha

[Elmo]

How does having the 30% DP rule help? Versus the 100% loan, pple can still loan the 30% elsewhere. If there's a demand there will always be institutions willing to offer. If car dealers want to push cars they would sure have multiple banks and licensed $ lenders on standby.

Unless MAS can enforce that a person can have only 1 loan for the car? How to?

 

[GSwhite]

BALLOTING will be the fairest system, it will give everyone a fair chance.

 

Example, lta can fixed the coe prices of different catergories:

 

1600cc and below: 20k (affordable for b&b cars)

1600-2500cc : 40k (still ok for a mid-range buyer)

2500 and above : 80k (no pain for luxury buyer)

Commericial: 25k (affordable for businesses)

Taxi : 30k (lower running cost and benefit consumers)

 

so if the available quota is 1000vehicles, will be split evenly, so that every catergory gets a fair chance.

 

Rules shall be:

1.Only individual is allowed to apply for balloting (ADs will not be allowed to ballot on behalf)

2.Pay in Full during submission of balloting

3.Successful buyer must buy car within 3months or else $ forfeited

4.Successful buyer cannot bid within next 3 years so as to give everyone a fair chance.

5.Awarded COE is NOT-TRANSFERABLE to prevent speculation.

6.Rich people who wants a second or 3rd car will either buy from used market or pay 2x 3x 4x the coe price respectively.

7.2nd time bidder after 3yrs will have to show proof that a new car is bought and the current car is sold within 3month or else the new purchase will be deemed as 2ND CAR and have to pay Double COE or their COE $ forfeited.

 

 

The above system:

 

1. Will not hurt the Garment $$$ coffers

2. Will benefit car buyers, (imagine you dangle the pc of coe in front of the SE in car showroom, service will be top, will get best deal for your purchase!)

3. Buyer of different catergory gets a fair chance

4 Lower end cars AD will not die or close shop

5. Makes buying car less complicated, car prices will be shown without COE.

6. Will not affect the Banks too much, cos buyer can still loan full amount on the Car Price if needed.

7. Will not affect used car market, unsuccessful ones and those that can't wait will buy used car

 

WIN WIN for everybody!!

 

Any suggestions and points to be added?

I doubt our MIWs will listen to my suggestion.

[inlinesix]

BALLOTING will be the fairest system, it will give everyone a fair chance.

 

Example, lta can fixed the coe prices of different catergories:

 

1600cc and below: 20k (affordable for b&b cars)

1600-2500cc : 40k (still ok for a mid-range buyer)

2500 and above : 80k (no pain for luxury buyer)

Commericial: 25k (affordable for businesses)

Taxi : 30k (lower running cost and benefit consumers)

 

so if the available quota is 1000vehicles, will be split evenly, so that every catergory gets a fair chance.

 

Rules shall be:

1.Only individual is allowed to apply for balloting (ADs will not be allowed to ballot on behalf)

2.Pay in Full during submission of balloting

3.Successful buyer must buy car within 3months or else $ forfeited

4.Successful buyer cannot bid within next 3 years so as to give everyone a fair chance.

5.Awarded COE is NOT-TRANSFERABLE to prevent speculation.

6.Rich people who wants a second or 3rd car will either buy from used market or pay 2x 3x 4x the coe price respectively.

7.2nd time bidder after 3yrs will have to show proof that a new car is bought and the current car is sold within 3month or else the new purchase will be deemed as 2ND CAR and have to pay Double COE or their COE $ forfeited.

 

 

The above system:

 

1. Will not hurt the Garment $$$ coffers

2. Will benefit car buyers, (imagine you dangle the pc of coe in front of the SE in car showroom, service will be top, will get best deal for your purchase!)

3. Buyer of different catergory gets a fair chance

4 Lower end cars AD will not die or close shop

5. Makes buying car less complicated, car prices will be shown without COE.

6. Will not affect the Banks too much, cos buyer can still loan full amount on the Car Price if needed.

7. Will not affect used car market, unsuccessful ones and those that can't wait will buy used car

 

WIN WIN for everybody!!

 

Any suggestions and points to be added?

I doubt our MIWs will listen to my suggestion.

There will nvr be a fair system for everyone.

 

Scrap COE but keep ARF & PARF.

 

ERP during peak period should be calculated as follows:

If rolling 3 mths average speed falls below:

70km/h: $10

60km/h: $20

50km/h: $30

40km/h: $40

< 40km/h: $50

 

Confirm traffic smooth like butter.

[Mllcg]

There will nvr be a fair system for everyone.

 

Scrap COE but keep ARF & PARF.

 

ERP during peak period should be calculated as follows:

If rolling 3 mths average speed falls below:

70km/h: $10

60km/h: $20

50km/h: $30

40km/h: $40

< 40km/h: $50

 

Confirm traffic smooth like butter.

 

this will encourace speeding, beating red lights, etc...

[inlinesix]

this will encourace speeding, beating red lights, etc...

Good lor. Govt can earn more from issuance of summons.

 

Anyway, there are more road hogger on this island than chiongster.

[Mllcg]

Good lor. Govt can earn more from issuance of summons.

 

Anyway, there are more road hogger on this island than chiongster.

 

but if ERP is $10 if speeds >70km/h, the hoggers will turn chiongster

[inlinesix]

but if ERP is $10 if speeds >70km/h, the hoggers will turn chiongster

1 day no use. They have to chiong for the next 3 mths.

 

My method will resulted in revision of ERP charge every mth dependent traffic condition.

[Tyongchi]

BALLOTING will be the fairest system, it will give everyone a fair chance.

 

Then what happen if u are not successful after several tries? kpkb?

 

What the govt must do now is to install a world class public transport system. In this way, it will encourage many to give up driving.

Edited May 14, 2012 by Tyongchi

[Friendstar]

I still feel current COE system is good. Why open a flood gate for more ppl to jam the roads

With 30% downpayment if u have more ppl buying chery QQ with that affordable "30%" downpayment the roads will still be flooded with cars, this time more low end cars on the road, doesn't solve the issue at all.

 

I think remain with current system is the best. If u can afford then buy else don't buy.

 

Lastly, I don't think self bidding will make COE cheaper, it might even cause it to be more expensive as COE is not determined by average or median bidding price. U will still have the same group of ppl bidding higher to secure their cars and back to square one.

 

Then comes back to the issue of why make COE cheap? It don't make sense

 

 

Simple.

 

Social issues.

 

If u r going to govern ur policies by money, the have nots will vote u out.

 

[SimonTan]

Preliminary Verdict is out. COE stays. Perhaps delay the 0.5% growth and keep the 1.5% growth till something happen next.

 

 

 

 

AsiaOne

Monday, May 14, 2012

During Parliament on Monday, Minister for Transport Lui Tuck Yew was asked whether the Ministry would consider reviewing the COE system in view of the rising cost of living.

 

Mr Lui was also asked if measures would be taken to moderate the rising prices of COE.

 

In response, Mr Lui said that the Vehicle Quota System (VQS) was necessary to keep the growth of Singapore's vehicle population at a sustainable rate.

 

He added that a 'pay as you bid' system to curb excessive bidding for the COE was not feasible.

 

Mr Lui said: "Proponents of a Pay As You Bid (PAYB) system believed that it would discourage buyers from submitting excessively high bids to increase their chance of securing a COE. Feedback gathered from industry members and academics during the 1999 review revealed that the PAYB method has several drawbacks... More importantly, there is less merit for a PAYB system now that LTA has implemented the open bidding system for COEs since 2001. Open bidding means that bidders are aware of the current COE bid price. There is no incentive for bidders to put in bids higher than what they are prepared to pay for."

 

"Today, vehicle buyers can bid for COEs themselves. They have access to the same information as dealers under the open bidding system. However, in most cases, buyers still prefer motor dealers to bid on their behalf for convenience and sometimes to take advantage of better package deals. The buyer remains in control as the total price of the car is agreed between the buyer and the dealer."

 

He added that the Ministry would exercise flexibility in how to implement changes to lower the vehicle growth rate.

 

[email protected]

[Tigerwoods]

BALLOTING will be the fairest system, it will give everyone a fair chance.

 

Example, lta can fixed the coe prices of different catergories:

 

1600cc and below: 20k (affordable for b&b cars)

1600-2500cc : 40k (still ok for a mid-range buyer)

2500 and above : 80k (no pain for luxury buyer)

Commericial: 25k (affordable for businesses)

Taxi : 30k (lower running cost and benefit consumers)

 

so if the available quota is 1000vehicles, will be split evenly, so that every catergory gets a fair chance.

 

Rules shall be:

1.Only individual is allowed to apply for balloting (ADs will not be allowed to ballot on behalf)

2.Pay in Full during submission of balloting

3.Successful buyer must buy car within 3months or else $ forfeited

4.Successful buyer cannot bid within next 3 years so as to give everyone a fair chance.

5.Awarded COE is NOT-TRANSFERABLE to prevent speculation.

6.Rich people who wants a second or 3rd car will either buy from used market or pay 2x 3x 4x the coe price respectively.

7.2nd time bidder after 3yrs will have to show proof that a new car is bought and the current car is sold within 3month or else the new purchase will be deemed as 2ND CAR and have to pay Double COE or their COE $ forfeited.

 

 

The above system:

 

1. Will not hurt the Garment $$$ coffers

2. Will benefit car buyers, (imagine you dangle the pc of coe in front of the SE in car showroom, service will be top, will get best deal for your purchase!)

3. Buyer of different catergory gets a fair chance

4 Lower end cars AD will not die or close shop

5. Makes buying car less complicated, car prices will be shown without COE.

6. Will not affect the Banks too much, cos buyer can still loan full amount on the Car Price if needed.

7. Will not affect used car market, unsuccessful ones and those that can't wait will buy used car

 

WIN WIN for everybody!!

 

Any suggestions and points to be added?

I doubt our MIWs will listen to my suggestion.

The COE is 1 time fee. No refund of balance when you sell car after 3 years.

 

[RadX]

Like that COE gonna cheong again lah...since Ah Lui tok oreddi

[SimonTan]

Yes sure chiong next week biddings.

Because if the supply is limited now....then the usual quota cut in August will make the supply even more drastic limited(even at 1.5%).

 

Those AD with cheaper cars and lower margins will die a slow death for sure.

 

[Iewoug]

Not sure if this would be workable but what are your thoughts if we say....

 

COEs should only be for non-citizens! this will automatically inflate car prices for non-citizens as they need to pay COE + car price. singaporeans only need to pay for car price.

 

and also....

 

non-citizens need to buy COE before they can buy flat as well....

 

let non-citizens compete with each other. If we are to compete with them, we should have some advantage :p

 

 

[Mllcg]

Preliminary Verdict is out. COE stays. Perhaps delay the 0.5% growth and keep the 1.5% growth till something happen next.

 

 

 

 

AsiaOne

Monday, May 14, 2012

During Parliament on Monday, Minister for Transport Lui Tuck Yew was asked whether the Ministry would consider reviewing the COE system in view of the rising cost of living.

 

Mr Lui was also asked if measures would be taken to moderate the rising prices of COE.

 

In response, Mr Lui said that the Vehicle Quota System (VQS) was necessary to keep the growth of Singapore's vehicle population at a sustainable rate.

 

He added that a 'pay as you bid' system to curb excessive bidding for the COE was not feasible.

 

Mr Lui said: "Proponents of a Pay As You Bid (PAYB) system believed that it would discourage buyers from submitting excessively high bids to increase their chance of securing a COE. Feedback gathered from industry members and academics during the 1999 review revealed that the PAYB method has several drawbacks... More importantly, there is less merit for a PAYB system now that LTA has implemented the open bidding system for COEs since 2001. Open bidding means that bidders are aware of the current COE bid price. There is no incentive for bidders to put in bids higher than what they are prepared to pay for."

 

"Today, vehicle buyers can bid for COEs themselves. They have access to the same information as dealers under the open bidding system. However, in most cases, buyers still prefer motor dealers to bid on their behalf for convenience and sometimes to take advantage of better package deals. The buyer remains in control as the total price of the car is agreed between the buyer and the dealer."

 

He added that the Ministry would exercise flexibility in how to implement changes to lower the vehicle growth rate.

 

[email protected]

 

actually what he can do is just to forget the 2008-2009 "adjustments".

 

just sua and forget about it.( dont adjust for over quota)

then keep the 1.5% until prices stabalise

Edited May 15, 2012 by Mllcg