Will COE be higher or lower by 2015 year end?

[Maroon5]

I thk the no of coe 20-30k a yr is not a big number vs the no of eligible households/rich in sg now.

 

dun mention the ones who can really afford - they likely not bothered by 10-20k swing in coe price but even most family buyers wil b able to afford or cough out the cash as they are mostly double income.

 

I feel as long the music plays, no big big event, the party goes on.

[Mz3SP0907]

at the end of the day... we all LLST... :angry:

 

agree... if really need to own a car... this could be the most probable/viable route...

 

 

Haha, conclusion is.. just stick to used cars. I am going to get rid of my car after COE is up and change to 8-9 year old cars.

In the event of any unlikely COE dip, the risk would be lower for me.

 

[Sunset73]

I thk the no of coe 20-30k a yr is not a big number vs the no of eligible households/rich in sg now.

 

dun mention the ones who can really afford - they likely not bothered by 10-20k swing in coe price but even most family buyers wil b able to afford or cough out the cash as they are mostly double income.

 

I feel as long the music plays, no big big event, the party goes on.

 

Right.. but I feel that for double income families, if they have children, it is still quite taxing for them.. unless both of them have a combined income of about 12k/month. Imagine the family combined income only 6k, jialat liao, but they need a car because it is really very inconvenient for them when going out, lugging along diapers, milk powder etc.

Other than COE, there's also tier-ARF up to 180% and up to $20k CEV surcharge added for the big and high power cars and look at the effect ? Practically zero effect on the Cat B prices. People continues to buy them. I expect Cat B to stay roughly the same if it doesn't rise further. Those who cannot afford will be push back to Cat A, so more people will be bidding for Cat A.

 

Again, a major factor is availability of full loan. In practice, it is more than 50% loan available. There are still people who are willing to pay high interests and more than 50% of their monthly income on a car. This is dangerous when the economy goes into recession, and there is widespread retrenchment or pay cut.

 

 

 

In actual fact, "full" loans are still available. I saw in sgcarmart ad (not disclosing any sensitive data), the car price was adjusted up X2. I subscribed to the particular car notifications so I knew about this.

 

Why would a dealer do that? We all know the answer :)

 

In order to go around the loan restrictions, dealers are finding loopholes in order to sell their vehicles. End of the day, like you say, many people are still willing to service a loan more than 50% of their pay, as long as they can lay their hands on the car. No demand, there won't be supply.

 

Yes, if the economy downturns, we will start seeing a lot of auction cars :/

Edited January 28, 2015 by Sunset73

[Sunset73]

The alternatives: Take taxi or rent car for road trips and special occasion. Rent car think about $100/day inclusive of insurance and cheaper for long durations will be good.

 

Government subsidies for school bus for pre-school and primary school ?

 

 

 

Sometimes, you can't get a taxi when you want to. Esp when you have infants, it's going to be a lot more cumbersome.

The problem here is to tackle transportation issue when the child is in infant stage. haha

[Andyngps]

 

Right.. but I feel that for double income families, if they have children, it is still quite taxing for them.. unless both of them have a combined income of about 12k/month. Imagine the family combined income only 6k, jialat liao, but they need a car because it is really very inconvenient for them when going out, lugging along diapers, milk powder etc.

 

 

In actual fact, "full" loans are still available. I saw in sgcarmart ad (not disclosing any sensitive data), the car price was adjusted up X2. I subscribed to the particular car notifications so I knew about this.

 

Why would a dealer do that? We all know the answer :)

 

In order to go around the loan restrictions, dealers are finding loopholes in order to sell their vehicles. End of the day, like you say, many people are still willing to service a loan more than 50% of their pay, as long as they can lay their hands on the car. No demand, there won't be supply.

 

Yes, if the economy downturns, we will start seeing a lot of auction cars :/

Sometimes 12k also may not be enough. Have many friends who earned around that and still cannot afford to buy new cars especially if they have at least 2 kids. Kids are expensive during their young days. Not to forget insurances and their own parents who are aging etc etc. Imagine pay only increase by a meagre 3-5% per year but properties and cars by leaps and bounds.5

[Sunset73]

Sometimes 12k also may not be enough. Have many friends who earned around that and still cannot afford to buy new cars especially if they have at least 2 kids. Kids are expensive during their young days. Not to forget insurances and their own parents who are aging etc etc. Imagine pay only increase by a meagre 3-5% per year but properties and cars by leaps and bounds.5

 

Agree. If you are a petrolhead, it is really sad to live in Singapore.

[Wt_know]

MCF standard ... $12K is the new poor ... underhappy ... lol

Edited January 28, 2015 by Wt_know

[Mz3SP0907]

I declare i'm super poor... coz... earn way below this nos.

 

MCF standard ... $12K is the new poor ... underhappy ... lol

 

yup... petrolhead can say bye bye liao...

 

Agree. If you are a petrolhead, it is really sad to live in Singapore.

 

Edited January 28, 2015 by Mz3SP0907

[Quantum]

Sometimes 12k also may not be enough. Have many friends who earned around that and still cannot afford to buy new cars especially if they have at least 2 kids. Kids are expensive during their young days. Not to forget insurances and their own parents who are aging etc etc. Imagine pay only increase by a meagre 3-5% per year but properties and cars by leaps and bounds.5

in Singapore afford a new car expenses almost equal to feed a kid,

[Mz3SP0907]

looking at today's situation... and it's not going to improve...

 

gonna give up owning a car liao in 2 years time and use "BMW" liao....

Edited January 28, 2015 by Mz3SP0907

[Lincoln]

Sometimes 12k also may not be enough. Have many friends who earned around that and still cannot afford to buy new cars especially if they have at least 2 kids. Kids are expensive during their young days. Not to forget insurances and their own parents who are aging etc etc. Imagine pay only increase by a meagre 3-5% per year but properties and cars by leaps and bounds.5

 

If $12k is not enough, then why are EC's carparks filled with cars? In addition, HDB carparks ($10k) are equally filled with many cars.

 

Now, car population in SG have decreased from 621,480 (in Jan 2014) to only 616,609 (in Dec 2014). During this period, COE prices have instead dipped slightly. One will think that such an reduction will leads to more competition and prices should be higher instead? The only reason I can think of is that the buyers are proportionally make up by more and more thrifty buyers who simply do not want to overpay for COE.

[Lincoln]

You know you can still buy a HDB flat with Full Cash^tm and have low or no monthly income ?

 

 

 

Nice anecdotal example. So, how about the rest of the cars in HDB?

[Mockngbrd]

No up no huat!!!

[Andyngps]

 

If $12k is not enough, then why are EC's carparks filled with cars? In addition, HDB carparks ($10k) are equally filled with many cars.

 

Now, car population in SG have decreased from 621,480 (in Jan 2014) to only 616,609 (in Dec 2014). During this period, COE prices have instead dipped slightly. One will think that such an reduction will leads to more competition and prices should be higher instead? The only reason I can think of is that the buyers are proportionally make up by more and more thrifty buyers who simply do not want to overpay for COE.

Made up of cars with coe around 30K or below? Still hardly see much SK* plates around...lots of SK* second hand cars though.

[gemmoglock]

If COE bidding is individual the prices would crash already.

 

Dealers don't mind all bidding higher and safer but Singaporeans always looking for a good deal will definitely bid as low as they can.

 

Wonder why this wasn't tried yet.

[Andyngps]

If COE bidding is individual the prices would crash already.

 

Dealers don't mind all bidding higher and safer but Singaporeans always looking for a good deal will definitely bid as low as they can.

 

Wonder why this wasn't tried yet.

Because it is a form of revenue?

[Ictruall]

If COE bidding is individual the prices would crash already.

 

Dealers don't mind all bidding higher and safer but Singaporeans always looking for a good deal will definitely bid as low as they can.

 

Wonder why this wasn't tried yet.

not likely to crash la,.....COE is all about supply, demand and affordability assuming no change of economic parameters.

 

COE prices are high because people are willing to pay for it......period

 

if individual bidding, difference is only that people need to start bidding early since human nature wants to pay less, so start first day as soon as window to bid opens,.....a dollar, then he up, she up, you up, I up, they up, we up and the cycle goes on until the last day, last minute....result will simply be the same because of affordability in a market of demand and supply.

 

......the fact remains that as soon as a person signs on the dotted line, not only is he/she capable of paying that amount but that he/she is willing to pay that amount....does not matter if he/she bids for the COE him/her self or via the AD...the budget is there for the taking so to say.

 

why you think current bidding starts at a dollar for the first day and nothing happens until the last day and almost the last hour or so.....then boom sky high and still goes higher until the very last minute.

[Handsomedi]

 

If $12k is not enough, then why are EC's carparks filled with cars? In addition, HDB carparks ($10k) are equally filled with many cars.

 

Now, car population in SG have decreased from 621,480 (in Jan 2014) to only 616,609 (in Dec 2014). During this period, COE prices have instead dipped slightly. One will think that such an reduction will leads to more competition and prices should be higher instead? The only reason I can think of is that the buyers are proportionally make up by more and more thrifty buyers who simply do not want to overpay for COE.

 

The reason is very SIMPLE.

INSTEAD OF WASTING TIME IN FORUM DISCUSSING WHETHER THE COE WILL DROP, WHO WHAT WHEN WHERE

 

Ppl are using the time to do more meaningful stuff and earn more money.

 

Talking in forum would not generate additional income!

 

This is cold hard facts!