2016 Apr, 2nd COE Bidding Exercise

[Pocy]

Many misconceptions still around:

1) higher COE quota is based on higher COE expiry and add a small % growth

2) don't just look at higher COE quota (supply) alone and ignore the demand (COE expiring and need to get new car, new entries, other factors like Uber)

3) car prices not necessary move the same amount in tandem with COE prices

4) history of $10K, $20K COE not likely to come back again as some factors then no longer exist

 

When COE prices were $60K, $70K, $80K, ...., who pushed it? There were no Uber factor. I think the trend is when COE quotas were lesser and those with higher buying power bought their cars at higher COE $70K, $80K, .... When COE quotas increased significantly, it's like a mass market where COE prices moderated and a time for more ppl to buy/replace cars. If this point is correct, it's already in a down cycle to buy car, unfortunately affected unexpectedly by factor like Uber, Grab, ..... Hopefully the unfavorable factor will be over soon to see a lower COE price trend before COE quotas reduced again and it's prices were to move towards higher territories again. In any case, I don't foresee a $30K COE unless changes in govt's policies.

[flashbang]

  On 4/23/2016 at 3:23 AM, Pocy said:

Many misconceptions still around:

1) higher COE quota is based on higher COE expiry and add a small % growth

2) don't just look at higher COE quota (supply) alone and ignore the demand (COE expiring and need to get new car, new entries, other factors like Uber)

3) car prices not necessary move the same amount in tandem with COE prices

4) history of $10K, $20K COE not likely to come back again as some factors then no longer exist

 

When COE prices were $60K, $70K, $80K, ...., who pushed it? There were no Uber factor. I think the trend is when COE quotas were lesser and those with higher buying power bought their cars at higher COE $70K, $80K, .... When COE quotas increased significantly, it's like a mass market where COE prices moderated and a time for more ppl to buy/replace cars. If this point is correct, it's already in a down cycle to buy car, unfortunately affected unexpectedly by factor like Uber, Grab, ..... Hopefully the unfavorable factor will be over soon to see a lower COE price trend before COE quotas reduced again and it's prices were to move towards higher territories again. In any case, I don't foresee a $30K COE unless changes in govt's policies.

 

You are making many people sad and depressed 

 

30k still got some chance lah... anything lower tao chio liao 

[Arch1984]

Yeah. Sad but true. Just means that owning cars will be more and more expensive going forward. Imagine when quota start dropping. May see sustained 100k COE even.

 

By then maybe makes alot of sense to switch to public transport. 

[Pocy]

  On 4/23/2016 at 3:28 AM, flashbang said:

You are making many people sad and depressed

 

30k still got some chance lah... anything lower tao chio liao

A common Singaporean me just like many of you. I don't even think we should pay for a COE at all. However, have been paying since many year back. A reality to own car in SG, no choice.

I know such reality will smash many sweet bubbles that including mine

[BenTong]

  On 4/23/2016 at 2:38 AM, Char said:

Agreed with you that all this Uber car must have big decal to show to the public for the safety issue .

Ha? U mean decal can save lives? How does that work? Or you mean put decal so that ppl know it's an uber n ride at your own risk? Hello, those who ride uber already know it's uber vehicle.

[Spurman]

  On 4/23/2016 at 1:20 AM, BenTong said:

Ahhh. 1998 STI 800.. If it happens many of us will be out of job. And you are right.. Many will be working at durian plantations picking durians

Tat time tia gong really sibei bad.

 

Prob if sti 800.

Kopi back to 80cents

4 room jurong west hdb maybe worth 150k.

 

All just to achieve 10k coe okay boh. Song boh. Fruit fruit

[Audi2016]

  On 4/23/2016 at 3:49 AM, Pocy said:

A common Singaporean me just like many of you. I don't even think we should pay for a COE at all. However, have been paying since many year back. A reality to own car in SG, no choice.

I know such reality will smash many sweet bubbles that including mine

[BenTong]

  On 4/23/2016 at 4:08 AM, Audi2016 said:

No choice. In a land and resource scarce country like SG, car ownership needs to be moderated. Whenever they want a solution, they will not take the most feasible one, but the one that makes the most economical sense (to themselves).

 

Extended periods of low COE & cheap car ownership like 2006-2008 is not good for our roads. Now those making noise.. I would say a significant portion come from this crop of buyers who could only buy when COE was dead cheap.

 

But I hope COE drop again in 2-3yrs time so my warranty over, I get to change car again

Guess the only difference is this. The $$$$ goes back to treasury under the lock and key of the government of the day. Up north across the causeway it goes to some individual pockets and car sellers pockets or toll operator pockets. So between the 2.. U got to choose

[EricChan]

  On 4/23/2016 at 4:08 AM, Audi2016 said:

No choice. In a land and resource scarce country like SG, car ownership needs to be moderated. Whenever they want a solution, they will not take the most feasible one, but the one that makes the most economical sense (to themselves).

 

Extended periods of low COE & cheap car ownership like 2006-2008 is not good for our roads. Now those making noise.. I would say a significant portion come from this crop of buyers who could only buy when COE was dead cheap.

 

But I hope COE drop again in 2-3yrs time so my warranty over, I get to change car again

Your wife-to-be needs a car too mah if she haven't have one . If she has one change her car lor. Anyway congrats on getting married. Edited April 23, 2016 by EricChan

[Char]

  On 4/23/2016 at 3:59 AM, BenTong said:

Ha? U mean decal can save lives? How does that work? Or you mean put decal so that ppl know it's an uber n ride at your own risk? Hello, those who ride uber already know it's uber vehicle.

Must diff the private and public .... Get it ? How people know whether Ubor or bor from just the car looks ? Btw , you don't anyhow put words in my mouth .... You can always silent if you don't like my post ... Get it ?

[BenTong]

  On 4/23/2016 at 4:24 AM, Char said:

Must diff the private and public .... Get it ? How people know whether Ubor or bor from just the car looks ? Btw , you don't anyhow put words in my mouth .... You can always silent if you don't like my post ... Get it ?

Got it.! But still don't get it! You must be a taxi driver huh? Got it! Edited April 23, 2016 by BenTong

[EricChan]

  On 4/23/2016 at 2:30 AM, Chrispie said:

Actually I find that Uber and grab are life savers... Couldn't do without them after I sold my car.

 

Blame government, blame Uber when coe is too high. Why doesn't anyone asks why is it that he cannot afford the coe?

 

Now that Uber is giving an alternative to let people somewhat own a car, we want those car to have huge Uber decals.

 

Ultimately, it is just about people want the face. Wants to look good yet doesn't want to pay the price.

I am all for more equalization of wealth, as its benefits for society outweigh the disadvantages. So if uber offers an opportunity for the less well off citizens to own / rent a car particularly for more needy personal reasons I am all for it. Akin to having affordable medical care, good education for the young and having quality housing for all as part of doing more for each other . Edited April 23, 2016 by EricChan

[Char]

  On 4/23/2016 at 4:26 AM, BenTong said:

Got it.! But still don't get it! You must be a taxi driver huh? Got it!

Nope ! You must be slave for car ?

[BenTong]

  On 4/23/2016 at 4:29 AM, Char said:

Nope ! You must be slave for car ?

Boy boy.. Cars my slave.. Hoh. Got it. Only problem Uncle face.. Not enuf space to park within the house compound hoh.. Edited April 23, 2016 by BenTong

[Char]

  On 4/23/2016 at 4:31 AM, BenTong said:

Boy boy.. Cars my slave.. Hoh. Got it.

Just admit la ... Slave mean slave ... Old ah peh

[Audi2016]

  On 4/23/2016 at 4:23 AM, EricChan said:

Your wife-to-be needs a car too mah if she haven't have one . If she has one change her car lor. Anyway congrats on getting married.

 

She driving my other car. Share between my dad and her. Since half the time I ferry her around 

 

Thanks!

[Char]

  On 4/23/2016 at 4:31 AM, BenTong said:

Boy boy.. Cars my slave.. Hoh. Got it. Only problem Uncle face.. Not enuf space to park within the house compound hoh..

Toy cars ? Got it !

[BenTong]

  On 4/23/2016 at 4:32 AM, Char said:

Just admit la ... Slave mean slave ... Old ah peh

agree. Uncle old ah Pek Leow. Admit slave to cars. You not even one yet. Got it

  On 4/23/2016 at 4:34 AM, Char said:

Toy cars ? Got it !

Yup Uncle do see cars as toys..