COE Bidding – 1st Round of January 2019

[DACH]

Good luck to those bidding later.

[Dilemma]

Paper value for new car is very low lor.  First 6 months, cannot transfer and dereg.  You can do it but need to pay a very steep penalty lor.  It is so hidden in onemotoring website there was ever a belief description for example, the penalty on COE alone is the absolute delta of last COE and the COE of the car.  So your car COE 50K and within 6 months you need to sell and the last COE is 30K.  You need to pay a penalty of 20K lor.

 

So, only case is Bankruptcy or Owner is deceased. 

 

Whatever, first 6 month cannot or difficult to sell car lor.

 

 

Then, COE and PARF rebate.  For the first 2 years, the COE rebate is 80%, so from the 7th month to 2 years, you only get 80% of the COE.

 

As for PARF, I think is first 3 year, rebate is same too -  Please check, as I never actually need to do that.

 

Then, on the first day I cross 6 months, I go LTA check, the paper value for my "new" car is ONLY about 60++% lor.

 

So, there is good saving if you know how to choose as the paper value is really really low, and the market value is high.

 

1 car seat there do nothing is say about $20~30 per day, so 8000 car is S$160K~240K every day lor.  Let not forgot misc fee.

 

 

So dying to sell, and any price is somewhat a good price.

 

 

On the Uber scene, even uber, they sure dented our wallet when they buy like no tomorrow.

 

My friend reach SG at 12mn at T3, take a MPV Uber to AngMoKio cost him $50 lor.   Good time is back for Uber driver.  Could last awhile before GO-J effect come in lor.  Want private transport ?  Pay lor, or walk the expressway ? BTW, jaywalking on expressway is ILLEGAL hor.

 

Most of your info seems to be wrong.

[Philipkee]

May I ask for open cat dealer allow to keep? Or dealer can keep coe all cat?

Car dealers don't keep cat a or b coe because it is bidded under the buyer's name.

 

They can keep open cat coe because it is not bidded under any specific buyer's name.

[Philipkee]

I see. Meaning Cat A bidding is directly based on number of bookings. And backlogs.

 

So with 900 backlogs and 3 weeks of new bookings, tomorrow likely to increase?

Not really. Cat A bidding is directly based on number of individuals bidding for it. Your answer is mostly correct. Based on bookings. But there are some people who are so free or just trying their luck and self bid $2.

 

So there could be 1000 Cat A bids but number of actual car bookings is only 900 and 100 are made of those who tikam tikam only.

 

So backlogs are also different. Let's say 1000 bidders but successful is only 800. It looks like backlog of 200 but it's actually 100 cos the other 100 are not "serious" bidders.

 

The interesting question is how many of such buyers are there and do they actually cause COE to rise significantly.

Edited January 9, 2019 by Philipkee

[Pisces]

Not really. Cat A bidding is directly based on number of individuals bidding for it. Your answer is mostly correct. Based on bookings. But there are some people who are so free or just trying their luck and self bid $2.

 

So there could be 1000 Cat A bids but number of actual car bookings is only 900 and 100 are made of those who tikam tikam only.

 

So backlogs are also different. Let's say 1000 bidders but successful is only 800. It looks like backlog of 200 but it's actually 100 cos the other 100 are not "serious" bidders.

 

The interesting question is how many of such buyers are there and do they actually cause COE to rise significantly.

I dun think got so many boh liao ppl to try their luck for $2 COE coz there's a fee to pay for every bid. And honestly, what is the chances of getting a $2 COE nowadays. I think the chances to strike 4D is higher. Lol

[Jumpmanz]

Cat A - 27k

Cat B - 32K

[Philipkee]

I dun think got so many boh liao ppl to try their luck for $2 COE coz there's a fee to pay for every bid. And honestly, what is the chances of getting a $2 COE nowadays. I think the chances to strike 4D is higher. Lol

Maybe $2 is exaggeration but if you observe after coe bid exceed the quota, it will hang around in the thousand first then on to the tens of thousands.

 

I am inclined to think that the thousands of dollars bids are from the boh liao people cos I think AD first bid should be around the rebate levels.

 

Don't think AD will test market by putting in very low bids.

[keanC]

Car dealers don't keep cat a or b coe because it is bidded under the buyer's name.

 

They can keep open cat coe because it is not bidded under any specific buyer's name.

There is always somebody new here learning how to buy car.

Thankfully there is always some experience car owner to help them with their enquiry.  

[Pisces]

Maybe $2 is exaggeration but if you observe after coe bid exceed the quota, it will hang around in the thousand first then on to the tens of thousands.

 

I am inclined to think that the thousands of dollars bids are from the boh liao people cos I think AD first bid should be around the rebate levels.

 

Don't think AD will test market by putting in very low bids.

Maybe these r PI???

[Philipkee]

Maybe these r PI???

Possible it would seem an insincere bid to me. Yes they can revise but it seems insincere unless they never promised a rebate level.

 

My two cents.

[keanC]

There is always somebody new here learning how to buy car.

Thankfully there is always some experience car owner to help them with their enquiry.

philipkee Thanks for your praise

[kiligulu]

tomorrow start motorshow, today bidding should not increase too much to lure buyers to the show?

[dannychoy84]

COE should start shrinking because near 10-year-old cars population shrinking. Should start moving up. Those still waiting, expecting to get even lower, sorry, will not happen.

 

A- 28k

B - 30k

[13177]

So early Cat A already around $21k?

[kiligulu]

As of now Cat A $20,199

[Civicblade]

COE supply should start shrinking from Feb onwards and down to the lowest numbers in the 2nd half of 2019. 

 

If the economy continues to do ok.. GDP growth of 3%, the days of sub $50000 COE for CATA or CATB is numbered. 

[chuawl88]

Im guessing this round around 28k for cat A, course last few round at this time (3:20pm) still $1 but now already $20,199

[Scholesy]

Also feel 28k cat A

32k Cat B