COE Bidding – June 2021

[Roh96]

6 minutes ago, Kyfc819 said:

@Roh96 

sales agreement signed with successful coe bid.

deposit forfeited is fine.

just wonder will AD cancel my coe or will AD ask me to pay for full coe since I cancel sales agreement.

if coe is not cancel, I can use it for next car purchase within 6 months. 

 

I have not experienced canceling an order at this late stage (when COE is secured). I had canceled car sales order many years ago but that time the AD had not secure my COE.

If you are mentally prepared to forgo the deposit, you can try cancel the order and pay up the COE since it has been secured. 

[Colin03]

@Kyfc819 

Your deposit most properly is 100% gone.

Should be 10K min, am I right ?

COE might need 100% pay up by you before cancellation cane be done

Lastly I believe you will incur an admin charges too

Why not you sell the entire purchase to another fellow to minimize any loss incur

 

 

 

[Kyfc819]

have to pay up 100% coe? 

that will be not worth it.

any other suggestion if I cant get others to sell the entire purchase?

[arataka]

The COE should belong to you at this stage. If you log on to onemotoring, you should be able to see the new COE under your name. In that sense, I don't think the AD can 'take away' the COE from you. However, you definitely need to pay up the full COE amount to LTA, but I cannot advise when and how and if AD is involved. You will have to talk to your SE on the procedure.

If you cancel right now, the deposit is most likely forfeited, but depending on how much you paid, it might not be much, because 10k of the deposit was actually used for COE bidding which belongs to you.

Still, just curious on why you want to cancel? You think the COE will continue dropping?

 

[Mooose]

@Kyfc819 

your coe is $56000 and your rebate level is $55000 so i think you get nothing back.

just curious why want to cancel at this stage?

[Jamesc]

Its always like that.

People that don't want always get the COE.

So many people want and never get.

Same with babies lah.

Couple try so hard cannot get.

Last time wifey and me not married

and don't want to get we so lucky.

[Jamesc]

Same with traffic lights.

When I late for work, customer waiting for her massage

always the light will turn red just as I approach the junction.

When I early to pick up MIL it will always be green at every junction.

I can drive slowly and give way to everybody that wants to cut in front of me when come to junction the lights will always be green.

I slow down expecting to turn to yellow also no matter how slow will never turn to yellow.

Why always like this one?

[Mooose]

coe may be in buyer's name but i think dealers who bid for buyer will in their fine print in the agreement have some sort of a hold over the tcoe, not so easy to just go up to the dealer and say please give me back my tcoe ..

good if you can read the fine print on this ..@Kyfc819 

[Roh96]

5 hours ago, Kyfc819 said:

have to pay up 100% coe? 

that will be not worth it.

any other suggestion if I cant get others to sell the entire purchase?

You are talking about losing your entire deposit without even touching the car. Not worth lah.

If you really regret with this purchase, my suggestion is to get the car out and try selling it on your own thru SG Carmart after few months.

 

[Eviltrap]

I'm curious if a buyer got the COE liao, but then dun want it like one of the bro here.

Can the entire purchased (plus COE) be transferred to another buyer whom is interested in the same car also?

[Mooose]

@Eviltrap i think cannot because TCOEs now not transferable .. otherwise dealers will all use salesmen and their family members names to bid extra COEs to hold and transfer off later .. think this was rampant in the mid 90s ..

i think if really really got good reason buyer cannot proceed with purchase then i think the best LTA may do (not saying they will though) is to allow the COE to be cancelled unused ..

Edited June 28, 2021 by Mooose

[Kyfc819]

Thanks everyone for useful advice! I guess i will just go ahead to get the car. 

Really appreciate all of your help!