MPs raise concerns over changes to car ownership policies

[Mcfguy]

  On 3/6/2013 at 1:13 PM, Leepee said:

I thought disabled drivers can apply for no COE and no ARF car purchase?

Certain of disableness and yet don't need to modify car.

It's in the LTA website.http://www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/forms_download0.MainPar.0050.File.tmp/DPS_form.pdf

 

I am sure creative minded car buyers can define 'disabled' innovatively and capitalize on this scheme.

 

Financially disabled can?

[Erykool]

Agree that the change shld be staggered although I am a buyer eagerly awaiting the Coe to fall..suddenly from 100% loan to 50% too drastic Liao...

[Benarsenal]

  On 3/6/2013 at 2:20 PM, Watwheels said:

Used car dealers hog up so many cars. No wonder COE prices like reaching 100k. If they were to scrap those 6 years and above cars the COEs would have return into the system to generate more numbers in the quota. These crooks now cry for help. Too late. Sgp policy once effective there's no u-turn.

 

One used car company of 50 over staff hog up 250 cars is like on average 1 person having 5 cars at a point of time. Imagine so many used car dealers, the number of COEs that could return back to the system is not small.

 

But why should they scrap? Every type of car has its customer base. There are people who prefer older cars for various reasons. So a big(ish) dealer would have plenty in stock of various types. It's like department store or supermarket, where they sell many different types of things.

 

Imagine you want to buy used car but all that is available are fairly new ones with high COE (hence high, some say inflated, values). Won't you KPKB?

Edited March 6, 2013 by Benarsenal

[Watwheels]

Problem nowadays is there are too many easy loan and easy credit available. Ppl do not need to be rich to buy a car. Controlling the loan % is crucial. Even with such high COE pricing ppl still buy, things can really get out of hand be it the economy does well or not.

 

Public transport sucks big time. Otherwise ppl won't want to get their own car. The frustration of overcrowding and unreliability are overwhelming. No matter what the gahment do to try to improve the situation ppl will be angry nontheless.

 

Infrastructure not being able to catch up with the spike in population really cause a lot of problem and unhappiness.

 

 

[Benarsenal]

  On 3/6/2013 at 3:12 PM, Watwheels said:

Problem nowadays is there are too many easy loan and easy credit available. Ppl do not need to be rich to buy a car. Controlling the loan % is crucial. Even with such high COE pricing ppl still buy, things can really get out of hand be it the economy does well or not.

 

Public transport sucks big time. Otherwise ppl won't want to get their own car. The frustration of overcrowding and unreliability are overwhelming. No matter what the gahment do to try to improve the situation ppl will be angry nontheless.

 

Infrastructure not being able to catch up with the spike in population really cause a lot of problem and unhappiness.

 

Agree very much with the above.

[Watwheels]

  On 3/6/2013 at 2:59 PM, Benarsenal said:

But why should they scrap? Every type of car has its customer base. There are people who prefer older cars for various reasons. So a big(ish) dealer would have plenty in stock of various types. It's like department store or supermarket, where they sell many different types of things.

 

Imagine you want to buy used car but all that is available are fairly new ones with high COE (hence high, some say inflated, values). Won't you KPKB?

 

I dun look at a car like wine. The older they are usually the more mechanical problem they will have. I would also want a relatively new car. Actually I prefer new. Anyway used car dealer inflate the price regardless and they are not like supermarket as prices are not like those on sale but highly inflated.

[Dice]

  On 3/6/2013 at 12:34 PM, Zxcvb said:

"Recently, I received a very long email from a resident of mine. He told me that he has been a second-hand car dealer for 17 years. He started off as a salesman after ROD, and he worked his way up and he is currently the CEO. He has 235 cars in hand and 50 staff, and he is crying out for help. He told me he is going to sell his house but he worries he cannot save his business."

 

"As I read his email, my heart beats with his. Again, the change is so drastic and immediate that some second-hand car dealers like my resident will have to fold up their businesses. Is this cut so critical and so market sensitive that the Government cannot give any advance notice?"

 

i doubt the MP is speaking solely for this CEO, he indicated he has responsibility for the families of his 50 employees... i doubt all of his staff are as well to do as him... the change is just to sudden, which goes to show that they swept this problem under the carpet for just too long, if they had gradually intervene yearly perhaps it would have been easier but of course i am a lowly paid citizen so i would not know how well paid folks look at things.

[Benarsenal]

  On 3/6/2013 at 3:20 PM, Watwheels said:

I dun look at a car like wine. The older they are usually the more mechanical problem they will have. I would also want a relatively new car. Actually I prefer new. Anyway used car dealer inflate the price regardless and they are not like supermarket as prices are not like those on sale but highly inflated.

 

A well maintained old car can usually run for many many years without problems, with just normal servicing and care. They are rare but they are definitely out there.

[Mllcg]

  On 3/6/2013 at 12:48 PM, Ev0lutionz said:

No policy is perfect i guess. One policy either makes one happy and makes the other unhappy.

even the rich are unhappy this time.

[Xxadidasxx]

Will the gov do anything it seems the ground super unhappy

[JackRabbit]

  On 3/6/2013 at 4:22 PM, Benarsenal said:

A well maintained old car can usually run for many many years without problems, with just normal servicing and care. They are rare but they are definitely out there.

 

I have an old car, very regularly serviced according to service schedules. But as it aged, the problems kept creeping up much much more regularly. Most recent examples: Last service date was Oct 2012. But in January - fuel pump broke, cannot start the car - repair - $200+ incl parts; last week car stalled, crank sensor faulty - repair $400+ incl parts. Next service Apr 2013.

 

Last year already changed so many other parts, more than a thousand bucks spent in repairs and parts. I shudder to think what else is forthcoming.

 

SO ... I have to disagree that a well maintained old car USUALLY runs for many years WITHOUT problems with just NORMAL servicing and care.

[Leepee]

I got the feeling this rule will be tweak soon.

Seems like MP and many business heads are against this rule change.

Maybe change to 80%.(which will be ineffective in my opinion to lower COE price)

So better quickly buy car soon when the COE is relatively low and AD offering good deals.

 

 

[Dinosaka]

  On 3/6/2013 at 11:00 PM, Xxadidasxx said:

Will the gov do anything it seems the ground super unhappy

 

Since when they care what's happening on the ground...their heads keep looking upwards...

[Simplecar]

  On 3/6/2013 at 11:25 PM, Leepee said:

I got the feeling this rule will be tweak soon.

Seems like MP and many business heads are against this rule change.

Maybe change to 80%.(which will be ineffective in my opinion to lower COE price)

So better quickly buy car soon when the COE is relatively low and AD offering good deals.

Some decision makers would probably have to slap their own faces because they did not do a thorough job. Also, they have disregarded the feelings of some when this was made. They 'looked at the bigger picture' and felt that some collateral damage was acceptable.

 

I already said quite some time ago that tweaking the system would affect others who have faithfully followed the rules of the COE game.

 

Some people have lost money outright by this policy while others gained. I hope this rule remains and any change be done only when the people on the ground are REALLY consulted. And not to pander to any interest group (not possible)

[A5SB]

I feel that the rule should only apply to "marginal" car buyers who earn say.. less than $6k per month. Then those who earn more than that, they can get 80 - 90% financing, and if they have 2 or more children.

 

There should be some flexibility rather than a draconian rule like this.

[Gnixer]

all the LJ dealers during 2010 onwards earning COE like nobody biz time nv kpkb. say is like that COE shoot up so used car price also follow.

now tio hammer liao because too greedy take in too many cars and now backfire liao.

such person should reduce poor pauper and ponder again what is being poor citizen is like.

[Turret]

  On 3/7/2013 at 1:23 AM, Gnixer said:

all the LJ dealers during 2010 onwards earning COE like nobody biz time nv kpkb. say is like that COE shoot up so used car price also follow.

now tio hammer liao because too greedy take in too many cars and now backfire liao.

such person should reduce poor pauper and ponder again what is being poor citizen is like.

 

 

Looking back at the past years on the car market...

 

back in pre 2008 - Japan New Car very hot due to low Yen and low COE

2009 - Then come Korea New Car due to high yen and low COE

2010-2011 - Then come Continental New Car become hot due to low Euro, moderate to high COE but perceived to be better value compared to Japan and Korea Car

2011 - 2012 - Second hand cars become hot due to sky-rocketed COE

2013 - New loan curb measures - who benefit? unregulated lenders for the time being.....

 

So the world is fair ... every dog will has its day la

 

 

[Timex1441]

  On 3/7/2013 at 1:12 AM, A5SB said:

I feel that the rule should only apply to "marginal" car buyers who earn say.. less than $6k per month. Then those who earn more than that, they can get 80 - 90% financing, and if they have 2 or more children.

 

There should be some flexibility rather than a draconian rule like this.

the govt shld not micro manage such details....the banks shld be allowed to judge for themselves who they trust to extend the loans to....some ppl who earn < $6K have fewer commitments than those who earn more, so it's very hard to have 1 policy tat can cover all bases.