how to solve COE volatility? Gov doing the pricing

[Daniu82]

"What's wrong with collecting more money?" Ah gong said. Don't think they will kill the cash cow. Period. 

[Rickster]

58 minutes ago, Watwheels said:

MAS just have to up the restriction on car loan. 50% deposit 50% loan, loan interest rate 5%. Remove the overtrade BS. If coe prices still high, up the deposit % and up the car loan interest rate. If the loan do not get more restricted coe prices will only skyrocket.

Problem isnt coe. It is also about how much loan ppl can take to buy car. Coe and loan structure go hand in hand. No point keep tweaking the coe but ppl still be able to take huge loan to buy car.

Ppl are too short sighted, always focusing on coe. Step back and look at the bigger picture.

This is definitely one area the govt can look into, if they want to.

Currently used car dealers can offer 80-100% loan for vehicles and this loophole is wide open (openly advertised also). I guess the govt is turning a blind eye to this in order to give those people who die die want to have a car a way out.

[Rickster]

49 minutes ago, Ingenius said:

The question should be WHY the government should lower the price and volatility of COE price as oppose to collecting more revenues, and not HOW.  For HOW, there are many obvious ways to do it.  Without answering the WHY, why should they lower it ? We can talk until the cow comes home, but there is no vindication to do it.

Yes, i think that right now, the govt don't have a strong WHY to take concrete actions. Especially when the COE is doing what it has set out to do - control vehicle population and high COE prices is a like icing to the cake. 

The govt sees cars as luxury items and thus, put in place the COE bidding system... those who can pay, gets it. 

So to most effective way is to convince the govt that brand new cars are not a luxury item to certain group of people. Once this is done, we can be sure there will be concrete actions taken real soon.

[Jamesc]

Offering 80-100% loan is to help the poor people.

Rich people pay full cash and don't even need 1 cent loan.

If we didn't offer loans to poor people how can they own a car?

Unless you think that people with no money shouldn't buy cars?

[Jamesc]

COE is only a problem in people's heads

[Fitvip]

1 hour ago, Watwheels said:

MAS just have to up the restriction on car loan. 50% deposit 50% loan, loan interest rate 5%. Remove the overtrade BS. If coe prices still high, up the deposit % and up the car loan interest rate. If the loan do not get more restricted coe prices will only skyrocket.

Problem isnt coe. It is also about how much loan ppl can take to buy car. Coe and loan structure go hand in hand. No point keep tweaking the coe but ppl still be able to take huge loan to buy car.

Ppl are too short sighted, always focusing on coe. Step back and look at the bigger picture.

I remember they had done the loan part not too long ago and quietly let loose. When it was introduced, the motor traders and finance sectors suffered. Boh pian...

[Rickster]

18 minutes ago, mikk123 said:

Open and Cat B same lah. 

I use Ferrari to prove a point lah. All the super Lux cars should taxed much more  and compete with each other. It should not be compete again bread and butter car.  

https://www.businesstimes.com.sg/government-economy/budget-2022-luxury-cars-to-be-taxed-at-higher-rate-of-220

Yes, they did that recently. These cars are not in the Cat A category i'm sure.

[Jamesc]

Why people worry about COE?

The problem we should worry and no one does

is global warming.

I don't want to alarm anybody but it will wipe us all out.

No people no COEs.

And cars contribute to global warming and less cars better. 

So the more people go car lite the better.

[Rickster]

3 minutes ago, Jamesc said:

Offering 80-100% loan is to help the poor people.

Rich people pay full cash and don't even need 1 cent loan.

If we didn't offer loans to poor people how can they own a car?

Unless you think that people with no money shouldn't buy cars?

Exactly. That's why in my previous post, i mentioned the govt deliberately turned a blind eye to this.

So people who are not financially sound and yet thinks they really need a car, they can take out a 100% loan and buy a used COE car. I think the installment is just a few hundred bucks per month.

[inlinesix]

1 minute ago, Rickster said:

https://www.businesstimes.com.sg/government-economy/budget-2022-luxury-cars-to-be-taxed-at-higher-rate-of-220

Yes, they did that recently. These cars are not in the Cat A category i'm sure.

Govt should align COE CAT with ARF.

All ARF below 20k is CAT A.

[Jamesc]

3 minutes ago, Fitvip said:

When it was introduced, the motor traders and finance sectors suffered. Boh pian...

Let them suffer. 

They don't provide value and people should just buy cars online.

[Jamesc]

Good point

1 minute ago, Rickster said:

Exactly. That's why in my previous post, i mentioned the govt deliberately turned a blind eye to this.

So people who are not financially sound and yet thinks they really need a car, they can take out a 100% loan and buy a used COE car. I think the installment is just a few hundred bucks per month.

 

[Volvobrick]

7 minutes ago, Rickster said:

Yes, i think that right now, the govt don't have a strong WHY to take concrete actions. Especially when the COE is doing what it has set out to do - control vehicle population and high COE prices is a like icing to the cake. 

The govt sees cars as luxury items and thus, put in place the COE bidding system... those who can pay, gets it. 

So to most effective way is to convince the govt that brand new cars are not a luxury item to certain group of people. Once this is done, we can be sure there will be concrete actions taken real soon.

"brand new cars are not a luxury item to certain group of people"

Oh yeah, I am convinced.

[Jamesc]

Please don't waste your money and the planet's limited resources and buy a new car.

Buy a used COE car.

No shame in it.

My own MIL drives one.

And look how happy she is

[Jamesc]

Brand new cars are killing our planet depleting vital resources that we cannot afford.

In that context new cars are too cheap.

[Volvobrick]

2 minutes ago, inlinesix said:

Govt should align COE CAT with ARF.

All ARF below 20k is CAT A.

We will see massive under declaring of OMVs.....

[inlinesix]

Just now, Volvobrick said:

We will see massive under declaring of OMVs.....

Those around $21k - $22k.  Possible.

You think custom will allow it meh?

 

[Jamesc]

E class, 5 series etc are a luxury we cannot afford if we want to save our planet.

Keep buying them and we will be having 50 degrees C temperatures everyday.