How low will COE go?

[Darryn]

Wow -
5 year loans on cars
LTV of 60% for sub $20k OMV,
LTV of 50% for more than @20k OMV

So how low will the COE go now?

And what way round this will be found?

[Deckbuild]

I predict 20% drop on A B E...

[Albeniz]

Waiting for the next financial melt down.

[Nullifi3d]

As long as they they don't mess around with the motorcycle category it really doesn't concern me.

 

Can always go for 2nd hand cars within my budget.

[Spidey10]

I predict 20% drop on A B E...

 

I think drop will be >50%! jialat Liao

[Vid]

Luxury car most hit?

[Wind30]

wow... this is quite good. 50% cash....

 

That will remove a lot of buyers.

[Eaton]

I think drop will be >50%! jialat Liao

Even a 100k also need to come out 40k. Super killer.

[Spidey10]

Does this apply to new cars only or all cars?

 

[Watwheels]

The move is pretty drastic. Can see the economy is going down hill from here on. To prevent ppl from buying cars it's obvious they do not want ppl to burden themselves with huge loans.

[Wt_know]

this weekend all car showroom will be flooded ...

 

Wow -

5 year loans on cars

LTV of 60% for sub $20k OMV,

LTV of 50% for more than @20k OMV

 

So how low will the COE go now?

 

And what way round this will be found?

Edited February 25, 2013 by Wt_know

[BMWX5]

What happens to cars that have been booked but delivery only in April?

[Relagsingh]

The move is pretty drastic. Can see the economy is going down hill from here on. To prevent ppl from buying cars it's obvious they do not want ppl to burden themselves with huge loans.

 

Tough times ahead and tougher for those still trying to buy car... But hey, they could be better off as a result.

[Yeshe]

if u use a comfortable cash amount an average house can come out with as downpayment for a new car, u can roughly estimate the COE prices.

eg, if 30k is the cash component, then roughly 40k is max loan makking the car cost not more than 70k.

 

that will equate to COE values of close to 20-30k for a B&B car.

[Yeshe]

this weekend all car showroom will be flooded ...

 

why? its in effect from tomorrow, unless u back date the purchase?

[Toothiewabbit]

AD and Banks closing deals now till midnight?!

[Scoots]

will sure cut demand ... thing is

 

1. The lesser off people who were finding the finding the prices out of reach, will now be faced with a differnt pain of not having that cash on hand

2. The better/well off ones will actually be the able to afford the cash up front and now get a (2nd/3rd/4th) car at a much cheaper price

 

So who actually benefits from this measure?

[Pixel18]

AD and Banks closing deals now till midnight?!

 

Why buy now when COE will sure plunge by 40-50% after next round's bidding ex?