Non guaranteed 8 bids

[urbanvoodoo]

Hi guys! Hope i'm in the right thread for this. I recently put down deposit for a car with a 8 bid NG scheme (about 7 k diff from the 2 bid guranteed one) and while i fully understand what I was getting into when i did it i'm a very stressed about COE prices hahah. 

I know you were discussing earlier the chances of it going through coz it was early Jan. But now its Feb with a predicted slow sales year so i just wanted to know if there are any factors i can use to predict me getting a successful bid! (Bidding is tomorrow!), but so far COE sometimes doesnt seem to be a factor, maybe its market demand? To be clear i dont mind waiting, what bothers me more is not getting it at all or having to top up some crazy amount.

All i know is the SE was very helpful to lock us in for the bid this Wednesday as he even drove to our offices to collect forms etc..instead of waiting for us to come back again next weekend.

Everyone is having mixed feelings about how COE will do this year and car demand and i give up trying to figure it out myself and thought i should consult you all.

 

[TangoElite]

Hi guys! Hope i'm in the right thread for this. I recently put down deposit for a car with a 8 bid NG scheme (about 7 k diff from the 2 bid guranteed one) and while i fully understand what I was getting into when i did it i'm a very stressed about COE prices hahah. 

 

I know you were discussing earlier the chances of it going through coz it was early Jan. But now its Feb with a predicted slow sales year so i just wanted to know if there are any factors i can use to predict me getting a successful bid! (Bidding is tomorrow!), but so far COE sometimes doesnt seem to be a factor, maybe its market demand? To be clear i dont mind waiting, what bothers me more is not getting it at all or having to top up some crazy amount.

 

All i know is the SE was very helpful to lock us in for the bid this Wednesday as he even drove to our offices to collect forms etc..instead of waiting for us to come back again next weekend.

 

Everyone is having mixed feelings about how COE will do this year and car demand and i give up trying to figure it out myself and thought i should consult you all.

 

 

 

tell us what car, what price you paid and which AD/PI.

 

We can gauge from there with these details.

[urbanvoodoo]

tell us what car, what price you paid and which AD/PI.

 

We can gauge from there with these details.

 

Mazda 3 HB 2017, 2 bid guranteed bid would have cost me 107k and for the 8 bid NG we agreed on something slightly below 101k. Mazda AD

 

Thanks!

Edited February 7, 2017 by urbanvoodoo

[Victor68]

sound like AD all gearing toward lower COE. $6-7k not only translate to COE drop, also adjustment to car profits

[urbanvoodoo]

sound like AD all gearing toward lower COE. $6-7k not only translate to COE drop, also adjustment to car profits

 

So this means higher chance for me? Haha.

[TangoElite]

Mazda 3 HB 2017, 2 bid guranteed bid would have cost me 107k and for the 8 bid NG we agreed on something slightly below 101k. Mazda AD

 

Thanks!

 

I think quite safe that you will get your car

 

i assume your car OMV is 20k , the total basic cost without COE is 40.4k 

(20k OMV, 4k duty, 1.4k GST, 15K arf less 5k CEVS)

 

For Mazda AD to retain a 17 % margin, they highest costs they can afford is 86.3k, assuming sales price of 101k

I used 17% margin as that is the margin they keep for mazda 3 sedan on sgcarmart website

 

Therefore this means they can afford to bid COE of 45.9k for you

 

Which is very possible to achieve in 8bids / 4 months

 

 

 

Disclaimer: I'm not familiar with mazda's strategy at all. I'm sure there will be other bros who are familiar here

[urbanvoodoo]

I think quite safe that you will get your car

 

i assume your car OMV is 20k , the total basic cost without COE is 40.4k 

(20k OMV, 4k duty, 1.4k GST, 15K arf less 5k CEVS)

 

For Mazda AD to retain a 17 % margin, they highest costs they can afford is 86.3k, assuming sales price of 101k

I used 17% margin as that is the margin they keep for mazda 3 sedan on sgcarmart website

 

Therefore this means they can afford to bid COE of 45.9k for you

 

Which is very possible to achieve in 8bids / 4 months

 

 

 

Disclaimer: I'm not familiar with mazda's strategy at all. I'm sure there will be other bros who are familiar here

 

Thanks for this input. The car OMV is just below 20k. 

 

On the COE at 45.9k I saw on HWZ forum one guy also bid 8 NG and he got the first round bid last year around August.even though the COE during that period was consistently 51-52k. Which got me thinking if COE really had anything to do with this or if the AD was just desperate at the time.

[Vinceng]

Just to share, my friend bought Mobilio October 2015, the price was $116K.

Another friend bought Vezel June 2016 at $99+ K

 

That's why i always emphasise that car prices have dropped substantially since the past 1-2 years when Cat A COE peaked at almost $80K.

 

Now is a good time to buy. COE prices are unlikely to drop further below $50K as Uber/Grab & the recent Motor Show have tonnes of back log orders.

[Ganwb79]

Hi guys! Hope i'm in the right thread for this. I recently put down deposit for a car with a 8 bid NG scheme (about 7 k diff from the 2 bid guranteed one) and while i fully understand what I was getting into when i did it i'm a very stressed about COE prices hahah.

 

I know you were discussing earlier the chances of it going through coz it was early Jan. But now its Feb with a predicted slow sales year so i just wanted to know if there are any factors i can use to predict me getting a successful bid! (Bidding is tomorrow!), but so far COE sometimes doesnt seem to be a factor, maybe its market demand? To be clear i dont mind waiting, what bothers me more is not getting it at all or having to top up some crazy amount.

 

All i know is the SE was very helpful to lock us in for the bid this Wednesday as he even drove to our offices to collect forms etc..instead of waiting for us to come back again next weekend.

 

Everyone is having mixed feelings about how COE will do this year and car demand and i give up trying to figure it out myself and thought i should consult you all.

 

 

I'll break it down for you. Guaranteed or non guaranteed you still have to wait, wait a bit or wait long long only. You do not mind waiting.

 

You will mind if you don't get the COE eventually or have to top up. 8 bids NG gives the dealer the maximum period of time to try and game the system to bid a lower COE. The ~6k difference in the price of the car don't come free lei, the dealer has to make that back somehow right?

 

8 bids, 16 weeks. You potentially spend most of that time chatting with friends or surf MCF to gauge trend of COE. You gan chiong check bidding status every 2 weeks to see how much the dealer bid for you and whether you get it at the end or not.

 

No need to have to give yourself mental stress like this for 4 months la :)

[Vinceng]

Hi guys! Hope i'm in the right thread for this. I recently put down deposit for a car with a 8 bid NG scheme (about 7 k diff from the 2 bid guranteed one) and while i fully understand what I was getting into when i did it i'm a very stressed about COE prices hahah. 

 

Everyone is having mixed feelings about how COE will do this year and car demand and i give up trying to figure it out myself and thought i should consult you all.

 

 

 

To determine if you can secure COE, calculate the cost of the car to the AD

 

Take (OMV x 2.35) + (COE cost) = cost of car to AD, excluding shipping fees and commission to sales staff

 

That's why at that time in late 2016 when Cat A COE was $53K, and the Elantra (OMV $12K) was selling at $83K for non guaranteed COE, not a single soul secured COE.

Edited February 7, 2017 by Vinceng

[TangoElite]

Thanks for this input. The car OMV is just below 20k. 

 

On the COE at 45.9k I saw on HWZ forum one guy also bid 8 NG and he got the first round bid last year around August.even though the COE during that period was consistently 51-52k. Which got me thinking if COE really had anything to do with this or if the AD was just desperate at the time.

 

if you use 19.5k omv, total basic costs is 39.7k

 

If AD can lower their margin to 12%, the same for the Mazda 2, then they can afford to bid up to 50.4K COE

if they bid anything more, means they are lowering their margin, signalling desperation!

 

btw what is the COE rebate level? 

 

all the best bro, hope you secure your COE and new ride soon!

[urbanvoodoo]

I'll break it down for you. Guaranteed or non guaranteed you still have to wait, wait a bit or wait long long only. You do not mind waiting.

 

You will mind if you don't get the COE eventually or have to top up. 8 bids NG gives the dealer the maximum period of time to try and game the system to bid a lower COE. The ~6k difference in the price of the car don't come free lei, the dealer has to make that back somehow right?

 

8 bids, 16 weeks. You potentially spend most of that time chatting with friends or surf MCF to gauge trend of COE. You gan chiong check bidding status every 2 weeks to see how much the dealer bid for you and whether you get it at the end or not.

 

No need to have to give yourself mental stress like this for 4 months la :)

 

True. End of the day i don't mind waiting..thats what i paid for after all. The thing is not knowing if this will be for nothing. 1st time new car buyer will stress mah haha.

 

But that being said knowing there is a science to this does make it more interesting. 

if you use 19.5k omv, total basic costs is 39.7k

 

If AD can lower their margin to 12%, the same for the Mazda 2, then they can afford to bid up to 50.4K COE

if they bid anything more, means they are lowering their margin, signalling desperation!

 

btw what is the COE rebate level? 

 

all the best bro, hope you secure your COE and new ride soon!

 

Thanks! I will be a very happy person!

 

I hope they lower to 12% -i think it might be possible seeing as how the private car market is declining abit (at least thats what i'm hearing from my friends in the industry)

 

I'm not sure about COE rebate level. This was the sheet we talked over: http://www.mazda.com.sg/wp-content/plugins/pdf-viewer-for-wordpress/web/viewer-shortcode.php?file=http://www.mazda.com.sg/wp-content/uploads/2017/01/New-Mazda-Pricelist-20-Jan-2017.pdf&settings=011000010&lang=en-US#page=&zoom=auto

[Jamesc]

Thanks for this input. The car OMV is just below 20k. 

 

On the COE at 45.9k I saw on HWZ forum one guy also bid 8 NG and he got the first round bid last year around August.even though the COE during that period was consistently 51-52k. Which got me thinking if COE really had anything to do with this or if the AD was just desperate at the time.

 

I think you are right.

 

If they desperate to move the car they will decrease profit

 

and just bid higher. Cannot report to mgmt high COE so never

 

sold any cars.

 

[urbanvoodoo]

Bro, as far as I give benefit of the doubt. No AD would want to collect deposit for whatever price if they are not confident to deliver car ( with whatever COE ). Who does not want sales and their job is to sell and move the cars. CAN means CAN, cannot means cannot.

 

So far, Mazda has been very "sincere" and serious to move and sell their cars. U can judge by the number u see on the road and numbers published don't lie. The brand did very well in 2016 even if it means selling volume to cover the $$$.

 

Different AD brands adopt different approach and at different times of the Year. They got to deliver the numbers some way somehow.

 

Just see which AD is more "hungry" for your business..that's all!! Sincerity counts and not waste buyers time!!

 

Sincerity !! And how serious AD is. Who is more hungry gets the sale!!! Muahahaha

 

Agreed. I have faith in Mazda. Like i mentioned the SE actually took time to drive to our offices to collect relevant documents so he can enter bidding on Wednesday.

[Victor68]

Hyundai sales numbers so so only. Not sure why they adopt this approach when can't deliver the car. Wasting each other time !!! Wierd!! Den again, they have many brands under the same umbrella hahahah

i dont know, maybe they have cash flow problem. so to collect all the deposit and keep. for 3 months to row without interest, why not. hahaha

[TangoElite]

 

Thanks! I will be a very happy person!

 

I hope they lower to 12% -i think it might be possible seeing as how the private car market is declining abit (at least thats what i'm hearing from my friends in the industry)

 

I'm not sure about COE rebate level. This was the sheet we talked over: http://www.mazda.com.sg/wp-content/plugins/pdf-viewer-for-wordpress/web/viewer-shortcode.php?file=http://www.mazda.com.sg/wp-content/uploads/2017/01/New-Mazda-Pricelist-20-Jan-2017.pdf&settings=011000010&lang=en-US#page=&zoom=auto

 

 

not impossible that they lower their own margin to 12%, make a little bit less better than not making at all.

 

COE rebate will come in should the COE crash and they secured your COE in that bid. Not very critical actually, because they will probably set a very low rebate level.  but still good to know before they start bidding tomorrow, perhaps you might wanna text your SE to enquire? 

 

also, do log in to onemotoring to check what is bid they submitted for you tomorrow, that will be the most important intel for you! 

Edited February 7, 2017 by TangoElite

[Spring]

I think quite safe that you will get your car

 

i assume your car OMV is 20k , the total basic cost without COE is 40.4k 

(20k OMV, 4k duty, 1.4k GST, 15K arf less 5k CEVS)

 

For Mazda AD to retain a 17 % margin, they highest costs they can afford is 86.3k, assuming sales price of 101k

I used 17% margin as that is the margin they keep for mazda 3 sedan on sgcarmart website

 

Therefore this means they can afford to bid COE of 45.9k for you

 

Which is very possible to achieve in 8bids / 4 months

 

 

 

Disclaimer: I'm not familiar with mazda's strategy at all. I'm sure there will be other bros who are familiar here

Seems you have done quite a fair bit of research on AD's margin %.

What is the average margin % may I ask for B&B cars?

[13177]

Hyundai sales numbers so so only. Not sure why they adopt this approach when can't deliver the car. Wasting each other time !!! Wierd!! Den again, they have many brands under the same umbrella hahahah

Maybe this is why you dont really see lots of new model hyundai cars on the road. Cause they sell without able to deliver ultimately. Unlike some ADs, they really sincere in selling car to buyers. Usually after buyers signed the price package and they would get their car without long wait for coe secure. Lol.