COE 1st/2nd ROUND - OCT 2013

[Glyuen]

  On 10/9/2013 at 2:25 PM, Dafansu said:

The Land Transport Master Plan 2013 was released 2 days ago, appended are some extracts on vehicles related issues from various pages of the Master Plan.

 

1) In the longer term, we will work with planning and development agencies to provide more vibrant public places that have fewer or no cars.

 

2) Our aim is that 75 per cent of trips during both the morning and evening peak hours will be made by public transport by 2030.

 

3) We will invest resources and effort to encourage you to use public transport and

to rely less on your personal car.

 

4) This is even more necessary in Singapore because it is not possible to build ever more roads to cater to private transport due to competing needs for our scarce land.

 

5) Roads already account for 12 per cent of our land area today, only a little under housing, which takes up 14 per cent.

 

6) We will also have to continue to restrain private car travel to have smooth-flowing traffic on our roads.

 

7) We will have to review whether a further reduction in the vehicle growth rate is necessary and the appropriate time to do so, taking into consideration improvements in our public transport system.

 

8)In the interim, we will implement a few more ERP gantries to tackle heavy congestion and continue to monitor hotspots may also require congestion pricing.

 

9)The vehicle population growth rate was reduced from 3per cent to 1.5 per cent per annum in 2009, and further reduced in the second half of 2012 to 1 per cent per annum and to 0.5 per cent from 2013 onwards.

 

10)Private transport does have a role to play in meeting our personal mobility

needs and in delivering goods and services, but its role must evolve given our

long-term transportation needs and land constraints.

 

11)Therefore, it is not realistic to plan for every household in Singapore to own a car. Today, about 45 per cent of households in Singapore own a car, up from 40 per cent in 2008.

 

12)As Singapore becomes more urbanised,the social cost of car ownership will also increase. This is because land has to be set aside for parking spaces not only where we reside, but also at the places where we work, study and play. Using more land for car parks means less land for other developments, such as housing, schools or healthcare facilities.

 

13)In view of the limited scope for further increase of the road network, we will review whether a further reduction in the growth rate is necessary.

 

14)As we slow down our road growth and work to reduce car ownership and traffic congestion, we must make the best use of our existing road space. Therefore, we need to do more to tackle illegal parking as it impedes traffic and affects the safety of road users.

 

15)A mindset shift. Residents of many major cities around the world choose not to own cars because walking and cycling is easy and healthy and their train and bus options are plentiful. We, too, want Singaporeans to rely less on private vehicles with all we are doing to strengthen and expand our public transport facilities.

 

16)With more people using public transport, the most efficient people-carrier, we will leave a smaller carbon footprint on the environment. We will enjoy cleaner air and more road spaces can be freed up for other public uses. We will have more liveable communities as we add noise barriers, enhance road safety and create more car-free zones.

 

Can you perceive the concept of this Master Plan and how this Master Plan will affect COE prices in the long term?

 

see those in red... govt preparing to cut back coe supply even more. the lesser car-owners the better (1 owner with many cars do not add to congestion).

[Manmaster]

If our stupid government would just implement CASH only for cars, no loan is allowed, we won't have this sky high COE and also a smooth traffic on the road. One stone can kill 2 birds!

[Neost]

  On 10/9/2013 at 6:10 PM, Manmaster said:

If our stupid government would just implement CASH only for cars, no loan is allowed, we won't have this sky high COE and also a smooth traffic on the road. One stone can kill 2 birds!

Good idea, can try, I support. Maybe a special category for this arrangement.

[Aventador]

  On 10/9/2013 at 6:10 PM, Manmaster said:

If our stupid government would just implement CASH only for cars, no loan is allowed, we won't have this sky high COE and also a smooth traffic on the road. One stone can kill 2 birds!

1) that's not true. It would just affect the types of cars on the road. 50% payment of a Mercedes is 100% of a Kia

 

2) for the 168392 time, COE prices do not affect the number of cars on the road. So you will not get smooth traffic on the road whether the COE is $1 or $100,000. The quota is the same, meaning number of cars registered is the same.

[Kspchew]

Why must buy new car? There are lots of choices out there for 2nd hand cars.

 

Maybe its just me, I am just another man on the road, only buying 2nd hand car, as I really cannot afford to pay the loan.

[Stevle]

very good, let it go up further. If this continues to be so, maybe many may choose to keep the same old car beyond the 10 years - not that one couldn't afford that but considering this ridiculous amount just to pay for 1 piece of toilet paper... I might be one of them... In years to come, vehicles on Singapore roads will just like any 3rd world countries...

 

bingo, many more good years to come....

[Hosaybo]

think eventually gov will claw back the excess COE for people scrapping cars in the next 4 years. That will help them maintain the coe price and revenue. People who suggest 100% cash are thinkng that with such policy, the price will drop. It will but unlikely to be cheap as well as supply is curb and demand is strong (demand with real buying power).

 

I don't think cars will be extended beyond 10 years cos right now, just a 5 years extension is costing one 40K+scrap value which is likely to be 50K which translate to 10K a year depreciation. This amount will enable one to get a similar second hand car, 5 years left and get back some change.

[Maxus-MIFA9]

  On 10/9/2013 at 4:12 PM, Si4dr said:

 

Ah Lui and LTA said many time oredi........COE not to earn $ one.........but I peasant don't understand

 

They don't make but they only produce a piece of paper and we peasants ouit-bid each other & willing to offer so much ....

[Kangadrool]

  On 10/9/2013 at 4:12 PM, Si4dr said:

 

Ah Lui and LTA said many time oredi........COE not to earn $ one.........but I peasant don't understand

 

Gahment never earn marnie from us one, they collect taxes from us.

[Soya]

  On 10/10/2013 at 1:23 AM, Picnic06 said:

 

They don't make but they only produce a piece of paper and we peasants ouit-bid each other & willing to offer so much ....

 

 

sg is prob the onli place where ordinary folks outdo each other to pay more tax.......

[Ben5266]

... Singtel fire at 3:40pm...

DBS atm affected...

... anyone failed to change their bid at last minute?

 

maybe.. if internet no downtime... COE might have pass $100k...

 

 

or... if the fire broke out at 2:40pm... COE might be $1!

[Wt_know]

and buying car with high coe = PROUD .... sibei shiok ar

 

while lim kopi ... one complain ... sibei siong ar ... coe $80k ... walao ... you $80k ar ... i $93k leh

 

  On 10/10/2013 at 1:37 AM, Soya said:

 

 

sg is prob the onli place where ordinary folks outdo each other to pay more tax.......

Edited October 10, 2013 by Wt_know

[Lurpsexx]

  On 10/10/2013 at 1:52 AM, Wt_know said:

and buying car with high coe = PROUD .... sibei shiok ar

 

while lim kopi ... one complain ... sibei siong ar ... coe $80k ... walao ... you $80k ar ... i $93k leh

 

 

hahaha.. ya.. heard that many times.. incl high condo prices, handbag prices etc.. think we are the only siao people in the world so proud of paying such ridiculous prices and crowing abt it in public... when the shit hits the fan and the loans recalled, then all can hold hands together and jump off liao...

[Civic6228]

  On 10/10/2013 at 12:47 AM, Stevle said:

very good, let it go up further. If this continues to be so, maybe many may choose to keep the same old car beyond the 10 years - not that one couldn't afford that but considering this ridiculous amount just to pay for 1 piece of toilet paper... I might be one of them... In years to come, vehicles on Singapore roads will just like any 3rd world countries...

 

bingo, many more good years to come....

 

Would anyone pay the prevailing COE just to keep the car beyond ten years ? ie. pay 70 to 90 k to keep the car on the road for another 10 years. I seriously doubt so ....

 

Got $$$ buy, No $$$ LL lor .... for me it is as simple as that.

 

But I do find it silly to pay so much for COE, a car with 30k COE is the same car as the other one with 90k COE. Higher COE, paying more for a COE does not equal a better car.

 

The worse is that paying so much for a COE and the traffic remain as bad, something is obviously wrong. The root problem is too many COEs were released over the years and too many cars on the road today.

[Roh96]

  On 10/10/2013 at 2:03 AM, Lurpsexx said:

 

hahaha.. ya.. heard that many times.. incl high condo prices, handbag prices etc.. think we are the only siao people in the world so proud of paying such ridiculous prices and crowing abt it in public... when the s--t hits the fan and the loans recalled, then all can hold hands together and jump off liao...

 

Don't have to worry for them. In fact, at this level, ppl who still go in are not ordinary working class. They could be the top 10-20% high income earners where paying $90K COE or buying >$250K car is still consider very affordable. Ordinary folks on the street have been priced out long ago.

  On 10/10/2013 at 2:12 AM, Civic6228 said:

 

Would anyone pay the prevailing COE just to keep the car beyond ten years ? ie. pay 70 to 90 k to keep the car on the road for another 10 years. I seriously doubt so ....

 

Got $$$ buy, No $$$ LL lor .... for me it is as simple as that.

 

But I do find it silly to pay so much for COE, a car with 30k COE is the same car as the other one with 90k COE. Higher COE, paying more for a COE does not equal a better car.

 

The worse is that paying so much for a COE and the traffic remain as bad, something is obviously wrong. The root problem is too many COEs were released over the years and too many cars on the road today.

 

Depending on model, if similar model is selling at $200K, paying $80K to renew may still be an attractive solution.

[13177]

  On 10/10/2013 at 2:12 AM, Civic6228 said:

 

Would anyone pay the prevailing COE just to keep the car beyond ten years ? ie. pay 70 to 90 k to keep the car on the road for another 10 years. I seriously doubt so ....

 

Got $$$ buy, No $$$ LL lor .... for me it is as simple as that.

 

But I do find it silly to pay so much for COE, a car with 30k COE is the same car as the other one with 90k COE. Higher COE, paying more for a COE does not equal a better car.

 

The worse is that paying so much for a COE and the traffic remain as bad, something is obviously wrong. The root problem is too many COEs were released over the years and too many cars on the road today.

 

Lol, silly or not and yet there are still many people willing to pay such amount for the COE. If you say the root cause is too many coes were released over the years, this is why this could be the reason why the current coe is super high. They want to reduce the cars many years later and eliminate all those car owners who cannot afford a car and yet bought a car due to super low coe over the years. So i guess after year 2019, cars should be reduce tremendously as most cars which were bought during the super low coe already been de-registered.

[Wt_know]

however, from 2012 to 2019 ... 7 years collecting $2B-$3B per year ... jin ho jiak

 

 

  On 10/10/2013 at 2:37 AM, 13177 said:

 

Lol, silly or not and yet there are still many people willing to pay such amount for the COE. If you say the root cause is too many coes were released over the years, this is why this could be the reason why the current coe is super high. They want to reduce the cars many years later and eliminate all those car owners who cannot afford a car and yet bought a car due to super low coe over the years. So i guess after year 2019, cars should be reduce tremendously as most cars which were bought during the super low coe already been de-registered.

Edited October 10, 2013 by Wt_know

[Lincoln]

In the master plan, LTA mentioned about leveling COE supply. Since now supply is at an all time low, price is obviously at a all time high. It is obviously not easy to level COE supply. This is because a car can be deregistered at any time. Thus, when price is too low too quickly, we will have cars deregistering. Since the car population is 600k, ideally every year, we should have about 60k new COEs. It is currently only about 20k++ in recent years. LTA is probably going to gradually increase this to eventually a stable 60k (70k max) a year. This will take place over a few years, maybe over 4/5 years to ensure that COE price do not crashed too quickly. And yes, potentially, there will be a reduction in car population before restoring it to the original level of 600k cars.