COE Bidding - September 2023

[Arogab]

On 9/21/2023 at 12:51 PM, Jamesc said:

When people say 

dealer bid higher and higher.

Please understand

we are doing our masters bidding!

Its ours masters the customers that ask us to bid high!

Car dealers are not doing our own bidding.

So its customers that are driving the prices high and not car dealers!

How come no one says stock brokers are driving the stock markets higher?

But everyone blames the car dealers for higher COE!

Solly lah, but I still won't buy 

Next time come to buy your used one. 

[Jamesc]

On 9/21/2023 at 2:12 PM, Arogab said:

Solly lah, but I still won't buy 

Next time come to buy your used one. 

No problem!

When you come I give you special price!

Only for you.

[Forsei]

On 9/21/2023 at 12:35 PM, Benarsenal said:

So now you know who paying 140k for COE.

Precisely!

Main reason why COE's are higher...

Companies with $$$ who don't give a damn about COE prices...

[Fcw75]

If LTA really want to do something about it, of course they can. 

But why would they? 

Maybe when near GE ba.

[Stratovarius]

On 9/21/2023 at 9:55 AM, Fitmugen said:

Actually its not difficult to implement. It's like trade-in. 

As for transferring the COE to the new car, all COEs already have a separate COE number, so its just tagging the COE to a new car with different chassis and engine number.

LTA can say this scheme only applies if the new car is a hybrid or EV. This will be good policy to make our car fleet more environment friendly.

Straits Times: Can you publish my idea? No need to pay me royalty. Thanks

will not work. Current policy is 0 growth, meaning new coe depend on the number of scrape cars. If coe is tagged to owners, they will hold the coe for the max 10 years and effectively reduce the number of new coe available to the rest of the public.  in the end only the super rich will be able to get their coe. Bear in mind that coe renewal is based the past 3 months and if coe shoot up to several hundred k, most people will not want to renew and this will end up a rich man game. in the end, coe price will fluctuate and become more unpredictable than now.

[13177]

On 9/21/2023 at 1:03 PM, mcf said:

Another reason is that 2nd hand cars prices are being inflated by the coe prices, if one scraps the car or if coe goes down, one stand to lose a lot of value, hence people who thinks this way will go for 1st hand car.

I know of a friend who is going for HR-V hybrid, under cat B brand new.

You see the 2nd hand car price now, actually not say very cheap lo. Even for a 6-7 year old used car. Not worth buying. 

[13177]

On 9/21/2023 at 1:46 PM, Beehive3783 said:

Niama eh. Polestar

GetGo can rent Polestar ar, so atas.

[Ingenius]

On 9/21/2023 at 4:03 PM, 13177 said:

You see the 2nd hand car price now, actually not say very cheap lo. Even for a 6-7 year old used car. Not worth buying. 

Agree that in terms of depreciation a new car makes more sense.  However, some people will still choose to buy used car due to less cash outlay (full payment or with loan), and also they don't want to be tied down to the car for too long.

[Jamesc]

Haiz!

Its not companies with $$$ who don't give a damn about COE prices...

Its the person in the back of the PHV!

PHV companies bid high for COE to get the car

because many people cannot get a job so they rent the car to do PHV.

They do PHV because people keep booking them!

So now we know its people that don't own cars that is causing the COE to skyrocket!

Next time a colleague complains COE so high he cannot drive and has to take a PHV

Please fcuk explain to him nicely its him and people like him that is the reason he cannot own a car!

See its the people that keep booking PHV that's why COE is so high!

Its not used car dealers or car owners!

[Jamesc]

A Boeing 777-9 is $442 million.

What is that compared to a COE?

Now no one says airlines don't give a damn about the high price of buying new planes.

Yes they do!

But millions of people keep buying tickets from airlines

and that's why airlines happily spend $400m on new planes!

So how come no one blame the airlines for the high cost of new  planes?

[Jamesc]

Before anyone share their expert opinions

on why COE is so high

please understand why its so high!

And if anyone post it the dealers!

They are already got their facts wrong and anything else they say is just nonsense.

Edited September 21, 2023 by Jamesc

[mcf]

For me I always look at depreciation as it's the most accurate way of telling the ownership cost. It's quite odd the way car is sold, wherein 2nd cars depreciation is higher than brand new, true especially for Japanese cars like Toyota or Honda. It's like signing a contract, the longer you sign the cheaper the monthly cost, shorter than higher monthly cost.

Some people will think about this and then buy brand new, since old cars will come with wear and tear plus high depreciation.

[Jamesc]

Many people including govs around the world

they look at the symptoms and think ah ha! That's the problem.

Now if they see a person with boils on their skin they say that's the problem you are sick because of the boils on your skin.

So their solution is take a wire brush and scrub as hard as they can to scrap off the boils.

But the boils is only the symptom. The problem is inside.

So a good doctor will solve the cause and not the symptoms.

[Jamesc]

There is nothing odd about the way cars are sold!

If used cars have higher depreciation and you don't want to pay the higher depreciation then just buy lah!

Now some people think I am very smart I look at depreciation and new car cheaper so I buy new.

So they think people that buy used cars are idiots. Maybe they never studies depreciation and don't know how to calculate it.

So they buy a used car and pay more!

  

 

[Jamesc]

People that are so smart buy new cars since the depreciation is lower

do that also buy the biggest jumbo flats in SG?

Buy 3 room flat at $600 psf buy jumbo only $500 psf

They all say jumbo lower psf better value and only buy jumbo?

Same with condos right? Those old big big condos psf is so much lower than a brand new studio flat.

 

[Volvobrick]

On 9/21/2023 at 5:00 PM, Jamesc said:

People that are so smart buy new cars since the depreciation is lower

do that also buy the biggest jumbo flats in SG?

Buy 3 room flat at $600 psf buy jumbo only $500 psf

They all say jumbo lower psf better value and only buy jumbo?

Same with condos right? Those old big big condos psf is so much lower than a brand new studio flat.

 

It is just like cash flow vs P and L. Profitable but no cash so they LLST go for the less profitable trade but needs less cash. 

Of course MCF here all talk P and L only, since full cash. 

And price PSF. 

Edited September 21, 2023 by Volvobrick

[13177]

On 9/21/2023 at 4:12 PM, Ingenius said:

Agree that in terms of depreciation a new car makes more sense.  However, some people will still choose to buy used car due to less cash outlay (full payment or with loan), and also they don't want to be tied down to the car for too long.

Buy new car also doesn’t mean would get tied down too long, you can sell it off also. 😅

[Datsun366]

On 9/21/2023 at 5:00 PM, Jamesc said:

People that are so smart buy new cars since the depreciation is lower

do that also buy the biggest jumbo flats in SG?

Buy 3 room flat at $600 psf buy jumbo only $500 psf

They all say jumbo lower psf better value and only buy jumbo?

Same with condos right? Those old big big condos psf is so much lower than a brand new studio flat.

 

Oy. 🙂 

Once again, I cannot accept previous owner of my hdb/condo/ GCB/outhouse still have the keys.

There is a hidden cost to buying used, especially with computerised car systems...how much to change the locks for your home? How much added cost is required to change the access to your used car, say a cheapo non continental make? Somemore have to indent from main factory somemore.

No la, dun buy use if you are planning for long term peace.  Afterward come back to your used car and find the doors mysteriously unlocked or moved to a different lot or altogether confirmed a lost car if you park overseas.

Buy new and forget depreciation or dont buy and discuss economics.

I will get new ev for sure. Never used.