COE Bidding - 19th DEc 2012

[Johnson28]

Is there really no other workable method to control car population at a cheaper cost?

Taking $80,000 divide by 10 years and 365 days....it's actually cost $22 per day just for the COE cost alone.

That is alot to some.

 

But if COE were to be scrapped....and each passing of ERP cost $10-$20, will it be more acceptable?

 

hmm. result will be everyone buy car, carpark already not enough lots now.. where to park them?

[Zogel]

Easy to talk living 1k lifestyle.

But most people are earning around $5k or more.

If DOuble income......then it might even be $10k or more easily.

Actually I believe most are living within their means and well able to afford nice house and cars in Singapore.

 

Then I suppose they shld live a 5 k lifestyle then.

I think most want a nice car and a flat with 5k. It's always going to be a struggle...

[Albeniz]

Yes, everyone assumes their pay/salary will go up eveytime you renew the COE ( assume you keep the car for ten years), so does your spending in other areas including children educations, health issue medical cost, and dont forget you need to save to live the old age!

 

My impression is most singaporean not thinking about the pension and how to live old age!

 

Wise words indeed.

 

Given current economy climate, one may be able to get a high paying job for a moment, but it is difficult to ensure job stability.

I have seen people around me who got retrenched but still have a huge car loan to service. When he wanted to sell the car, he ended up having to pay for the remaining balance instead.

 

Call me an old man, but I follow the school of thought that one should not borrow (a lot) of money to buy a car, or live his luxury on long instalments.

Edited December 20, 2012 by Albeniz

[Jojoman]

I think the people who set the policy must set a example themself by not owning a car at all.

 

 

[Simon29]

I think the people who set the policy must set a example themself by not owning a car at all.

 

You are so wrong.

 

The people who set the policy intends for those who are able to afford the cost of car ownership to own cars.

Those who can afford COE and ERP will be welcomed to own cars.

 

Coincidently those people who set the policy, are drawing very very high salary, thus they are certainly able to own cars.

 

 

The COE policy do not encourage people NOT to own car. The policy Allows those who are willing to pay for it to own cars!

Edited December 20, 2012 by Simon29

[Kar_lover]

The theory is not intuitive,

 

Let's say right now got 100 deregistrations per month, plus 50 for growth - that is total of 150 - but have 300 people bidding (100 dereg + 200 new)

 

Now lets say deregistrations climb to 300, plus 50 for growth - that is a total of 350, plus the 200 new, is 550 people bidding

 

that means in the first case got 2 bidding for each COE

 

in the second case got 1.57 bidding for each COE,

 

wouldn't it stand to reason that price will drop?

 

The problem is that once COE start to dip, the "200 new" in your assumption will increase to 400 new due to elastic demand. So yes COE may drop but it won't be huge and it won't be sustained. In other words any significant drop in COE will be corrected by latent demand. And also nowadays the meaning of "COE drop" is very vague. I am sure you don't mean drop to $20k like last time. Exactly what would you consider as COE "drop"? $60k? $50k?

[Wt_know]

coe dropped to $60k from current $90k ... all in MCF flooded all showroom until they have to open 24 hours to take order

 

The problem is that once COE start to dip, the "200 new" in your assumption will increase to 400 new due to elastic demand. So yes COE may drop but it won't be huge and it won't be sustained. In other words any significant drop in COE will be corrected by latent demand. And also nowadays the meaning of "COE drop" is very vague. I am sure you don't mean drop to $20k like last time. Exactly what would you consider as COE "drop"? $60k? $50k?

 

[Wt_know]

coe dropped to $70k from current $90k ... 22% CRASHED

all in MCF will flood showroom in spore until they have to open 24 hours to take order

next 2 bids, coe goes back to $90k ... here we go again

 

The problem is that once COE start to dip, the "200 new" in your assumption will increase to 400 new due to elastic demand. So yes COE may drop but it won't be huge and it won't be sustained. In other words any significant drop in COE will be corrected by latent demand. And also nowadays the meaning of "COE drop" is very vague. I am sure you don't mean drop to $20k like last time. Exactly what would you consider as COE "drop"? $60k? $50k?

Edited December 20, 2012 by Wt_know

[Camrycamry]

This clawback is like a invisible hand, artificially controlling the market. I hope it will not be implemented in 2014/2015.

If the no. of Coe recycle = no. of Coe deregistered six months ago, then there is a very very high chance of low COE price in 2015 onwards. Provided the clawback is not used.

 

Current yealy COE quota is around 40,000.

Come 2013 it may jolly well reduce to 30,000.

So in theory, if the 120,000 cars were to be suddenly deregistered in 2014 and another 120,000 in 2015.

That is a Huge numbers of recycled Coe ....like 4 times as much released. It will surely be a roller coster ride to try to catch a low COE in 2015.

 

I am looking forward to 2015 cheap Coe......but first thing first....got to survive thru the end of world tomorrow 21Dec first.

 

not to forget those with high COE will also deregister to get the COE rebate. this'll add on to the huge pool of COEs.

[Kar_lover]

coe dropped to $70k from current $90k ... 22% CRASHED

all in MCF will flood showroom in spore until they have to open 24 hours to take order

next 2 bids, coe goes back to $90k ... here we go again

 

Yes this is basically what i mean although I seriously doubt it will drop from $90 or $100k to $70k in a single exercise. All those hundred thousand COEs will expire at different times of the year so those expire first will deregister first and othes later on. Hence you won't have a sudden deluge of COE. And of course we have the claw back factor. Don't be surprised if for this 100,000 COEs, only 70,000-80,000 goes back to the market....

[13177]

I have a big mental block about paying for a high price COE - even if I can afford it, I don't think I will do so.

I agree on this. Even i can afford paying the current COE, i also dont think i will want to spend my money on this. I find it is way too silly to spend such an amount of money on a car.

[Simon29]

I am more incline to self bid for own COE in 2014 and 2015.

The high chance of a fluke $1 COE increase greatly because of the potential 120,000 deregistration expected in 2014 and 2015.

The very first month after the quota adjustment to increase the available COEs will likely cause the greatest drop or crash. (provided LTA don't play the clawback game and moderated the release quota to stabilize the market)

 

 

 

[Jojoman]

correct, becos of their high salary they must chose not to own car....

if not karma will catch up with them..

 

You are so wrong.

 

The people who set the policy intends for those who are able to afford the cost of car ownership to own cars.

Those who can afford COE and ERP will be welcomed to own cars.

 

Coincidently those people who set the policy, are drawing very very high salary, thus they are certainly able to own cars.

 

 

The COE policy do not encourage people NOT to own car. The policy Allows those who are willing to pay for it to own cars!

 

[HP_Lee]

How can someone feel lucky for paying so much for a piece of paper? Uniquely Singapore!!

 

Yes. Very very happy. That's truly Singaporean, man. [laugh]

[HP_Lee]

I wonder how many clowns will bid only $1 or $2 today....

 

They are not clowns. They were just lucky. It's once a life time matter.

[HP_Lee]

Action is heating up - sure to have a show shortly

 

Show your little cute puppy pics again. and we will be happy. It's christmas time.

[HP_Lee]

Jan COE was around $46K?! How much you paid for the cruze?

 

I paid $94k+. My COE is $46+ which have bid earlier towards year end.

Edited December 24, 2012 by HP_Lee

[13177]

I paid $94k+. My COE is $46+ which have bid earlier towards year end.

Lol, $94K plus for a cruze so expensive! But if compared with the current price, your $94K plus consider very cheap liao.