COE 1st/2nd ROUND - OCT 2013

[Damon-_-]

No one will be happy to see prices going up north as it adds more pressure for consumer as well as inflation. Why after rounds of measures/ curbs is the real question we should be asking?

[Throttle2]

Huat ah

[Lurpsexx]

  On 10/10/2013 at 2:35 AM, Roh96 said:

 

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.

 

Well bro, from what i see in the condo showrooms are all ordinary folks and young couples.. unless they are millionaire hawkers or got huge inheritances...

 

Still got some siao ordinary folks trying to beat the rising prices... only to die when it plummets...

[Manmaster]

  On 10/10/2013 at 12:00 AM, Aventador said:

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.

 

It will definitely work, i can assure u!

 

Cash for car & coe will definitely make people think hard about buying cars as the cash can be put to better use. It will make ordinary people think many times before putting up cash for cars. I'm sure that the car populations will decline and COE will drop.

 

Yes, 50% payment for mercedes is 100% of a kia but ordinary people won't pay full cash for a kia. Therefore, ordinary people won't buy but only the cash rich people will buy. In the end, you'll have lesser cars on the road as there are more ordinary people than cash rich people.

[Wt_know]

yes, spore road should only has ferrari, lamboghini, maserati, porky ....

minimum is bmw M, audi RS and merc AMG ...

 

  On 10/10/2013 at 5:39 AM, Manmaster said:

Yes, 50% payment for mercedes is 100% of a kia but ordinary people won't pay full cash for a kia. Therefore, ordinary people won't buy but only the cash rich people will buy. In the end, you'll have lesser cars on the road as there are more ordinary people than cash rich people.

Edited October 10, 2013 by Wt_know

[Manmaster]

  On 10/10/2013 at 5:43 AM, Wt_know said:

yes, spore road should only has ferrari, lamboghini, maserati, porky ....

minimum is bmw M, audi RS and merc AMG ...

 

The cash rich people are also wary of putting up cash for expensive cars as that will defy their investment wisdoms since the cash can be invested in something better. I rather put 1m in a property than for a 1m car in cash.

[Darryn]

  On 10/10/2013 at 12:28 AM, Kspchew said:

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.

 

And how do you think second hand cars are valued?

[The_Bear]

  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!

No COE? Then prices of car will be just be $40 to $50k for a regular Jap saloon. Without a cap on the growth, who ever can pay the 50% current price will be able to afford full cash. How does that translate to less cars?

  On 10/10/2013 at 9:44 AM, Manmaster said:

The cash rich people are also wary of putting up cash for expensive cars as that will defy their investment wisdoms since the cash can be invested in something better. I rather put 1m in a property than for a 1m car in cash.

You need to understand that most people how put a million into a car has quite a few more lying around

[Pandapura]

  On 10/9/2013 at 9:39 AM, Brx said:

Last time people pay high price for magic stone. Nowadays, people pay high price for magic paper.

 

The truth hurts sometimes...

[Fastnfaster]

  On 10/10/2013 at 5:43 AM, Wt_know said:

yes, spore road should only has ferrari, lamboghini, maserati, porky ....

minimum is bmw M, audi RS and merc AMG ...

 

rite, we are already seeing many luxury cars on the road. At current coe, I would think most car buyers are no ordinary folks.

 

Wonder if car dealers increasing car price after this round?

[Vinceng]

Who are the buyers who are willing to pay 6 figure sums for a bread and butter Jap car?

 

It would be very interesting to study the profile breakdown of car buyers who fall into the following groups.

 

1) Foreigners living in Singapore

2) Singapore Permament Residents

3) Singaporeans (those who received their citizenships within the past 3 years and/or have never served NS)

4) Singaporeans born and bred here

[Civic6228]

  On 10/10/2013 at 9:44 AM, Manmaster said:

The cash rich people are also wary of putting up cash for expensive cars as that will defy their investment wisdoms since the cash can be invested in something better. I rather put 1m in a property than for a 1m car in cash.

 

Becos u only have one million ..... but the real rich probably have 50 Million in their bank ... so 1 million for a car is only 2 percent of their cash assets. No big deal.

 

Do not under estimate the numbers of real rich people around ...

[Penknife]

The funny thing is why does people complain of high COE prices but at the same time, these are the same people who exert an upward pressure?

 

It's simple to make COE prices drop, and that is to stop buying.

[Manmaster]

  On 10/11/2013 at 1:10 AM, Civic6228 said:

 

Becos u only have one million ..... but the real rich probably have 50 Million in their bank ... so 1 million for a car is only 2 percent of their cash assets. No big deal.

 

Do not under estimate the numbers of real rich people around ...

How many millionaires are there in sg? Definitely under 100,000.

 

I personally know a S$100m man who only has 2 cars....a merc and a van but he lives in a bungalow and owns many properties. Like i said, very few cash rich people will put up full cash of $1m to buy just a car because this defies their investment wisdoms. People are complaining that full cash policy won't work for 1 simple reason.....This will hit them really hard and they can't afford to buy cars anymore.

[Aventador]

  On 10/11/2013 at 2:57 AM, Manmaster said:

How many millionaires are there in sg? Definitely under 100,000.

 

you view things from your own narrow perspective without seeing things around you

 

go call any senior Cycle & Carriage Sales person, and ask them how many customers are paying full cash nowadays. The numbers are so big that C&C has to force customers to take minimum loans or else forfeit the free service credits.

 

your millionaire estimate is 50% off.

 

Read the Straits Times 10 Oct 2013:

 

"Singapore was ranked as the 2nd richest country in the Asia-pacific region in terms of average wealth per adult by the annual Global Wealth Report published by Credit Suisse. Ahead of Singapore was Australia.

According to the report, Singapore’s wealth grew rapidly in the past 13 years but most of this is due to high savings and rising asset prices.

In fact, currently Singapore has about 174 000 millionaires but within the next 4 years, this number is set to increase to 235 000."

Edited October 11, 2013 by Aventador

[Wt_know]

PML also ... anything < $250K since 50% already $125K ... many customers ask can pay full or not

even PML has to ask cutomers to take minimum $50K loan ... i think

 

 

  On 10/11/2013 at 3:49 AM, Aventador said:

 

you view things from your own narrow perspective without seeing things around you

 

go call any senior Cycle & Carriage Sales person, and ask them how many customers are paying full cash nowadays. The numbers are so big that C&C has to force customers to take minimum loans or else forfeit the free service credits.

 

your millionaire estimate is 50% off.

 

Read the Straits Times 10 Oct 2013:

 

"Singapore was ranked as the 2nd richest country in the Asia-pacific region in terms of average wealth per adult by the annual Global Wealth Report published by Credit Suisse. Ahead of Singapore was Australia.

According to the report, Singapore’s wealth grew rapidly in the past 13 years but most of this is due to high savings and rising asset prices.

In fact, currently Singapore has about 174 000 millionaires but within the next 4 years, this number is set to increase to 235 000."

 

Edited October 11, 2013 by Wt_know

[Civic6228]

  On 10/11/2013 at 2:57 AM, Manmaster said:

How many millionaires are there in sg? Definitely under 100,000.

 

I personally know a S$100m man who only has 2 cars....a merc and a van but he lives in a bungalow and owns many properties. Like i said, very few cash rich people will put up full cash of $1m to buy just a car because this defies their investment wisdoms. People are complaining that full cash policy won't work for 1 simple reason.....This will hit them really hard and they can't afford to buy cars anymore.

 

 

You are right ... it is about choice .... and not about how many millions the person has....

 

People can get loan from loan sharks, sell their flats, survive on bread and water just to buy the new car ... nothing wrong as well, it is their choice.

 

Not to mention, a little shallow, but there are 12 Millions per year from the Singapore Sweep each year and a couple more from TOTO and 4Ds. I am shallow too, if I can get a million from heaven, I would realise my dream --- BMW M3.

Edited October 11, 2013 by Civic6228

[SLSAMG88]

  On 10/10/2013 at 4:06 AM, Throttle2 said:

Huat ah

 

Is this the infamous fat finger?