COE solutions??

[Monxtre]

OFF TOPIC !

[Mllcg]

  On 1/1/2013 at 11:36 PM, Maseratigood said:

Size of car body matters also, short cars eg hatchbacks or Copen type take up less road space, long cars eg 7-series, A8, S class takes up more space, maybe roadtax can take car length into consideration

That is not so bad. What I do not get is how a 1.8/2.0 civic take up more space than a 1.6.

 

All should be same road tax

[Vextan]

  On 12/27/2012 at 3:38 AM, Galantspeedz said:

don't spoil market hor

 

and you call mustank a mustard

sorry, mustank. thanks galant for pointing out.

[Zanter]

  On 1/1/2013 at 4:47 PM, Detach8 said:

Unregulated lending is one cause of the problem (10 year, 100% loans) but ultimately, it doesn't matter.

 

COE is a billion dollar revenue. Proven successful. Govt won't change it.

 

Exactly! There is a way for Govt to make $, why would they want to change it? The Minister KPI will be affected you know? His bonus cut if he thinks of ways to reduce the price of COE. Indeed, 1st thing he do is reduce COE

[Patkuah]

 

agree to

 

2. pay COE in cash, no bank loan allowed.

 

 

[Vextan]

Paying COE in cash doesnt make sense. This benefits those who can afford the COE now, and those who dont but need a car will be the victim. Then who is not to say that even car loans also not allowed, buyers should pay everything in full ? then only an even smaller group of rich people will benefit. So basically this boils down to being a self serving solution. Worse, people will use overdraft and personal loan and credit cards to pay for the coe, and the interest rates are much higher than if take a car loan that includes coe.

 

again, suggesting a solution without thinking about the other consequences, only the benefits. haiz ..

[inlinesix]

The only tweak i could think of is to move it away from capacity based to power based category.

 

Since Cat A is for vehicle lower than 1.6L, it is should be based on natural aspirated hp of average car, which is about 130hp. Anything more should go to Cat B.

[Kspchew]

  On 1/11/2013 at 2:42 AM, Vextan said:

Paying COE in cash doesnt make sense. This benefits those who can afford the COE now, and those who dont but need a car will be the victim. Then who is not to say that even car loans also not allowed, buyers should pay everything in full ? then only an even smaller group of rich people will benefit. So basically this boils down to being a self serving solution. Worse, people will use overdraft and personal loan and credit cards to pay for the coe, and the interest rates are much higher than if take a car loan that includes coe.

 

again, suggesting a solution without thinking about the other consequences, only the benefits. haiz ..

 

there is always used 2nd hand car around.

[Darryn]

YEp, all the ideas of no loan for COE, 30% downpayment etc etc,

 

they have the effect of dropping the price of the COE sure, but at the same time making it less affordable for the "heartlander".

 

So what you end up doing is collecting less tax from the rich, while the middle class still don't get to own cars.

 

How is that neccessarily a good solution?

 

The rich become better off, at the expense of the middle class. If you are going to control the car population, and allocate COE based on bidding - I would much rather you maximise what you can collect

[Princey_anne]

  On 1/11/2013 at 2:31 AM, Patkuah said:

agree to

 

2. pay COE in cash, no bank loan allowed.

Better pay car in full so only the rich can afford to buy car at cheaper price

[Kar_lover]

  On 1/11/2013 at 2:42 AM, Vextan said:

again, suggesting a solution without thinking about the other consequences, only the benefits. haiz ..

 

Nothing new here....unfortunately....

[Zanter]

  On 1/11/2013 at 2:42 AM, Vextan said:

Paying COE in cash doesnt make sense. This benefits those who can afford the COE now, and those who dont but need a car will be the victim. Then who is not to say that even car loans also not allowed, buyers should pay everything in full ? then only an even smaller group of rich people will benefit. So basically this boils down to being a self serving solution. Worse, people will use overdraft and personal loan and credit cards to pay for the coe, and the interest rates are much higher than if take a car loan that includes coe.

 

again, suggesting a solution without thinking about the other consequences, only the benefits. haiz ..

 

You rather pay 100k to Gov for 10 years of paper? If people cannot aford then they should take loan to pay this Gov paper? If have money then buy a car, if not then dont buy but no rationale for Banks to loan individuals to pay what is essentially a tax. If there is no loan the COE will drop a LOT..like 10k or less. So you say poor cannot afford? in current situation the "poor"can afford meh?

[Zanter]

  On 1/11/2013 at 3:23 AM, Princey_anne said:

Better pay car in full so only the rich can afford to buy car at cheaper price

 

There was a time when people actually saved up money to buy things, In those times things are cheap, now things are expensive becos people leverage. Good huh? Yeah good for the banks and the Gov who make more money by allowing people to be indebted. Some people whole life is paying loan, reno loan, home loan car loan furniture loan ipad loan phone loan..omg. If fact by time they died they would be lucky to be debt free!

 

Now people say its ok to take loan to pay Gov tax (COE) otherwise they cannot afford? WTF do they have for brains? In first place if no loan then the prices will be much much lower so everybody benefits!

[Darryn]

  On 1/11/2013 at 3:57 AM, Zanter said:

You rather pay 100k to Gov for 10 years of paper? If people cannot aford then they should take loan to pay this Gov paper? If have money then buy a car, if not then dont buy but no rationale for Banks to loan individuals to pay what is essentially a tax. If there is no loan the COE will drop a LOT..like 10k or less. So you say poor cannot afford? in current situation the "poor"can afford meh?

 

Yes it will drop a lot - but the biggest beneficiary of the drop will be those that least need it - i.e - those that can most afford to pay the higher price.

 

While it sounds good in theory, what you will be doing is making it harder for the middle class to get a car, while at the same time making cars cheaper.

 

There will be many many case studies around the world of this happening...

 

But I will give you one old english proverb..

 

To get a loan from a bank, you must first prove you don't need it.

 

[Dtan2626]

  On 1/11/2013 at 3:57 AM, Zanter said:

You rather pay 100k to Gov for 10 years of paper? If people cannot aford then they should take loan to pay this Gov paper? If have money then buy a car, if not then dont buy but no rationale for Banks to loan individuals to pay what is essentially a tax. If there is no loan the COE will drop a LOT..like 10k or less. So you say poor cannot afford? in current situation the "poor"can afford meh?

 

 

Look at housing. Govt made so many rules to make investers or buyers to pay more, like stamp fees, can only loan 60% for 2nd unit abv etc. Still the price never come down, some more make HDB also expensive, but many pple still can buy. Those that cant afford still cant buy. So wats the morale of the story? Singapore many many rich pple.

[Kiwi]

Instead of car loan, banks will just rename it to something else, i.e. special personal loan, and pple will just take the money and pay for the COE in cash. Then what?

[Blueblack]

  On 1/11/2013 at 4:46 AM, Dtan2626 said:

Look at housing. Govt made so many rules to make investers or buyers to pay more, like stamp fees, can only loan 60% for 2nd unit abv etc. Still the price never come down, some more make HDB also expensive, but many pple still can buy. Those that cant afford still cant buy. So wats the morale of the story? Singapore many many rich pple.

 

Actually you are right, here has the highest concentration of millionaire.

 

[Patkuah]

  On 1/11/2013 at 3:57 AM, Zanter said:

You rather pay 100k to Gov for 10 years of paper? If people cannot aford then they should take loan to pay this Gov paper? If have money then buy a car, if not then dont buy but no rationale for Banks to loan individuals to pay what is essentially a tax. If there is no loan the COE will drop a LOT..like 10k or less. So you say poor cannot afford? in current situation the "poor"can afford meh?