2015 Dec, 1st COE Bidding Exercise

[AndrewLee72]

So if I bid myself - I bid 10K for next COE how... Surely it wont be 10K isnt it...

Edited December 10, 2015 by Digthis1

[Tohto]

u sure a not? like that must as well  bid at 100k for a ~60k COE. sure secure and still can take back the change

 

That is exactly how COE work. 

[Showster]

Having a newborn is a strong reason to buy.

 

But note that most of the days, the newborn is not advised to travel much so it's unlikely for you to need to use the car much for the newborn.

 

If need to go for occasional checkups, can take taxi or rent a car.

 

When the kid is one year and older, having a car will be greatly useful. 

 

Its a good time to buy a new car now? Yestersday newspaper article state an increase of 50% quota next year Feb, so that mean COE price will drop?

I need a car for family usage, mainly my newborn. I used to owned and drive daily for 5 years till i sold it two years ago.

Appreciate advice and thanks in advance.

 

Edited December 10, 2015 by Seohster

[Throttle2]

So if I bid myself - I bid 10K for next COE how... Surely it wont be 10K isnt it...

if people bid more than you, you dont get it lah.....wah lan....

 

*face palm*

[Dtnlb]

Aiyah, fark all the bulls**t lah.

Knnbccb, want to buy COE, use full cash to bid in full price.

In other words, want to bid $50k for COE, make sure you have the actual cash to put in the bid.

Dont have, then bid becomes void.

 

Thats the only way.

 

full cash bidding or nothing.

COE therefore to be secured by full cash only.

And no financing to be allowed.

Any company found to provide financing for COE bidding and or COE payment, will be fined 10x the COE price in question.

 

 

Thats the way to do it.

Dont wussy wussy, sissy sissy.

Want to implement policies and regulations, make sure they freaking wor

 

COE is a cash cow for dealer, financial institution and Gxxx. Who would want to change anything? The only way COE will drop is when there is a financial crisis. When this happen, dealers will not dare to bid high as there are no buyer. COE will start dropping over the months.

Edited December 10, 2015 by Dtnlb

[Throttle2]

COE is a cash cow for dealer, financial institution and Gxxx. Who would want to change anything? The only way COE will drop is when there is a financial crisis. When this happen, dealers will not dare to bid high as there are no buyer. COE will start dropping over the months.

Thats why i say, fark all the bulls**t....

[Ben5266]

Im curious why specifically May to June?

When there is a surge in the supply of COEs...

But old cars due for scrap reduce.

 

We have the situation where available COE is slightly more than those who need to scrap their car and get a new one.

Those re-entry person, like you will stand a chance.

 

all other factors is assumed constant.

[Ngbernie]

Am I the only one who thinks COE system is OK? You want, you pay.

 

A quick no crunch, $4 billion SGD collected in COE alone. add on ERP, new car taxes etc, it is a very significant amount that goes to the budget. (I believe) this is part of the reason why our income tax (middle class and below) and GST all remain at relatively low levels for a first world country, yet we enjoy top class amenities, healthcare, transport system etc. In a way, tax the "richer". If you do not drive, you can rejoice that the rich are paying more for you.

 

Take the COE/ERP money generating systems away. Then what? increase tax elsewhere? The money has to come from somewhere - Yang mao chu zai yang shen shang.

 

Would you be happier paying 20% tax, 20% GST just so you can pay "normal prices for a car" to use on a now super-congested road because car volume is no longer regulated?

Edited December 10, 2015 by Ngbernie

[Throttle2]

Am I the only one who thinks COE system is OK? You want, you pay.

 

A quick no crunch, $4 billion SGD collected in COE alone. add on ERP, new car taxes etc, it is a very significant amount that goes to the budget. (I believe) this is part of the reason why our income tax (middle class and below) and GST all remain at relatively low levels for a first world country, yet we enjoy top class amenities, healthcare, transport system etc. In a way, tax the "richer". If you do not drive, you can rejoice that the rich are paying more for you.

 

Take the COE/ERP money generating systems away. Then what? increase tax elsewhere? The money has to come from somewhere - Yang mao chu zai yang shen shang.

 

Would you be happier paying 20% tax, 20% GST just so you can pay "normal prices for a car" to use on a now super-congested road because car volume is no longer regulated?

Nope you are not the only one.

Many of us have already said that we are ok with the concept.

Problem is the poor implementation.

Our discussion is centered on the implementation.

Not whether we should have the COE or not..

 

You were not in the earlier conversations and understandably jumped to wrong conclusions that everyone is against COE.

Those points you mentioned have already been considered long ago

Seeing that you are newbie, you are pardoned.....

 

Heeeheehee.

[Kar_lover]

u sure a not? like that must as well  bid at 100k for a ~60k COE. sure secure and still can take back the change

 

OMG, this is basic knowledge leh. U don't know? There are some of us who have been saying for years that LTA should make ppl pay what they bid instead of paying the lowest successful quota.

 

Yes but if EVERYBODY bid $100k then the COE will really end up $100k. So they won't. 

if people bid more than you, you dont get it lah.....wah lan....

 

*face palm*

 

Unbelievable after all these years and millions of post in MCF ppl still no understand. It's beyond facepalm.

 

Maybe need a sticky thread on how COE works.

So if I bid myself - I bid 10K for next COE how... Surely it wont be 10K isnt it...

 

 

The prevailing COE amount will be the lowest SUCESSFUL bid. Meaning if there are 1000 COEs up for grabs and the 1000th highest bid is $50k then COE is $50k. Whatever the amount of the first 999 bids were (which would be higher than the 1000th bid), they will still pay $50k. If happen that your $10k bid is the 1000th bid then yes COE will be $10k. That's why in the past we had $1 COE before.

[Yeshe]

if people bid more than you, you dont get it lah.....wah lan....

 

*face palm*

Surprised to see that many people dun know how Coe bidding works.... No wonder AD n gahmen can treat us like fools

[Matrix0405]

 

 

 

 

Mind you I fully support today's 50% DP rule too. It should be in place plus the need to pay cash for the COE.

 

 

 

This part disagree. Car (metal) shd be full cash, while COE shd be 100% financing and even allow using CPF . Don let the car fly, let COE fly. LTA huat.

[Forte3737]

Surprised to see that many people dun know how Coe bidding works.... No wonder AD n gahmen can treat us like fools

What fools? No one force anyone to buy. It's willing buyer wiling seller basis

[Kar_lover]

What fools? No one force anyone to buy. It's willing buyer wiling seller basis

 

But no one say anyone force anyone to buy.

 

It just means that a willing but not-so-knowledgable buyer can be tricked by very willing seller and so the "willing buyer" is only willing under false understanding.

[alexndrtz]

OMG, this is basic knowledge leh. U don't know? There are some of us who have been saying for years that LTA should make ppl pay what they bid instead of paying the lowest successful quota.

 

Yes but if EVERYBODY bid $100k then the COE will really end up $100k. So they won't.

 

 

Unbelievable after all these years and millions of post in MCF ppl still no understand. It's beyond facepalm.

 

Maybe need a sticky thread on how COE works.

 

 

 

The prevailing COE amount will be the lowest SUCESSFUL bid. Meaning if there are 1000 COEs up for grabs and the 1000th highest bid is $50k then COE is $50k. Whatever the amount of the first 999 bids were (which would be higher than the 1000th bid), they will still pay $50k. If happen that your $10k bid is the 1000th bid then yes COE will be $10k. That's why in the past we had $1 COE before.

The flaw lies at how dealers market their package. The term of COE rebate should be discourage. We all know that, unless sudden catastrophe hits Singapore economy, there would not be sudden jump on COE. COE rebate set by AD for customer discourages them to bit lower than that.. Yes, it is in their interest to bit lower, but not lower than their preset COE rebate..

 

A lot of customers have poor understanding of how COE bidding works.. And AD capitulatize on this..

[Showster]

Hahah, If you can afford the cash, you try lah.

On the contrary, it will be freaking stable, not volatile.

Who wants to pay more?

 

Muayhahahahah

But buyer demand can be seasonal.

 

I feel the current system more stable.

 

Else CNY bids can be 80K and after 30K. Not necessarily better as people will also complain.

[fxsg123]

When there is a surge in the supply of COEs...

But old cars due for scrap reduce.

 

We have the situation where available COE is slightly more than those who need to scrap their car and get a new one.

Those re-entry person, like you will stand a chance.

 

all other factors is assumed constant.

 

Ic, thanks.

[fxsg123]

Having a newborn is a strong reason to buy.

 

But note that most of the days, the newborn is not advised to travel much so it's unlikely for you to need to use the car much for the newborn.

 

If need to go for occasional checkups, can take taxi or rent a car.

 

When the kid is one year and older, having a car will be greatly useful. 

 

 

Thanks.

 

I travel between my parent and in-laws house during weekend.

I try to convince myself public transport's sufficient, but unfortunately both locations a distance from the nearest train station.