COE Bidding - October 2023

[Ginyu]

On 10/2/2023 at 3:04 PM, inlinesix said:

Currently, half of new registered PHV are NOT for Grab.

Rather, it is rental for own use.

Wow instead of being forced to switch to public transport, they rather rent car now🤣

[Mkl22]

On 10/2/2023 at 3:52 AM, Ct3833 said:

Rationally thinking, with nearly 50% more COE allocated for cat A, this cat should at least drop by 10k or so, but if all the potential buyers believe in ADs story that this is going to be once in life time allocation, the panic buying may even push up the COE price.

Have say like no say, but this is the irony. 

My personal believe will be that cat A being for B&B car buyers with a lower budget,  the additinal COE should bring down the COE price.

Cat B is a very different ball game , the fact that LTA didn't  even give 1 additioanl allocation, one can imagine the intended outcome they want it to be, and it will happen.....continue to go up.

 

Meantime, dont blame LTA, they asked for $1, it is the buyers who are willing to pay ADs to bid up the COE price. 🤣 if others are willing to pay and can afford to, then i only have myself to blame 😭

Ya. All bids are tied to IC or company. all willingly stump up the money to buy. 

[t0y0ta]

At sky high COE taxation, may really be better for long term fiscal health and investment to just give up and do BMW + Grab

[Mockngbrd]

On 10/2/2023 at 3:04 PM, inlinesix said:

Currently, half of new registered PHV are NOT for Grab.

Rather, it is rental for own use.

means what? all fakie buy under PHV for 100% loan?

[inlinesix]

On 10/2/2023 at 4:58 PM, Mockngbrd said:

means what? all fakie buy under PHV for 100% loan?

Rental company huat lor.

 

[Jamesc]

Rent from PHV company for own use no need loan right?

Just pay monthly.

Not wonder no one buying used cars.

I also can help you inflate your income to get a bigger loan.

100% loan also can discuss.

[Fitmugen]

On 10/2/2023 at 3:04 PM, inlinesix said:

Currently, half of new registered PHV are NOT for Grab.

Rather, it is rental for own use.

Govt must look into this. The PHV drivers are being encouraged to take full loan for 10 years. The Toyota Noah price is $220k and the interest over 10 years is $80k. The dealers selling these cars earn like siao just from the interest comm from the banks.

The PHV drivers think it’s worth it because the monthly installment is lower than the rental. But they forget the car maintenance all they bao. When the car more than 5 years and all the problems start and need to replace hybrid battery, where they find the money to pay?

if they suay suay kena long term illness, no money ti pay installment. Car kena repo and negative equity sale.

really a death trap

 

[Hubwee]

Toyota Vellfire 2.5 Hybrid now is 415,888 ..... COE how to drop .... 

[inlinesix]

On 10/2/2023 at 5:55 PM, Fitmugen said:

Govt must look into this. The PHV drivers are being encouraged to take full loan for 10 years. The Toyota Noah price is $220k and the interest over 10 years is $80k. The dealers selling these cars earn like siao just from the interest comm from the banks.

The PHV drivers think it’s worth it because the monthly installment is lower than the rental. But they forget the car maintenance all they bao. When the car more than 5 years and all the problems start and need to replace hybrid battery, where they find the money to pay?

if they suay suay kena long term illness, no money ti pay installment. Car kena repo and negative equity sale.

really a death trap

Honestly, why should govt look into this?

We are not a nanny state.

If ppl cannot understand this risk, orbigoot lor.

[Fitmugen]

On 10/2/2023 at 6:03 PM, inlinesix said:

Honestly, why should govt look into this?

We are not a nanny state.

If ppl cannot understand this risk, orbigoot lor.

Normal car driver MAS only allow 50% loan. PHV driver likely lower income group they allow 100% loan. What logic is this?

[Ginyu]

On 10/2/2023 at 6:19 PM, Fitmugen said:

Normal car driver MAS only allow 50% loan. PHV driver likely lower income group they allow 100% loan. What logic is this?

Want to earn from both income group, cannot meh?so as long got the numbers to push up the COE, they song song Gao jurong some say batam🤣

Edited October 2, 2023 by Ginyu

[Ct3833]

On 10/2/2023 at 5:55 PM, Hubwee said:

Toyota Vellfire 2.5 Hybrid now is 415,888 ..... COE how to drop .... 

And wait till e class and 5 series  launch their new models at 450k in a short few months time, COE price will go up like a derailed train.

 

[Jamesc]

On 10/2/2023 at 6:55 PM, Fitmugen said:

Govt must look into this. The dealers selling these cars earn like siao just from the interest comm from the banks.

Why go after the dealers?

Should go after the banks lah.

That's like catching the runners and letting the big boss loan sharks off scot free!

[Jamesc]

The big boss loan shark earn how much interest?

The runner car dealers only get comm.

Small percentage of the big interest right.

Come and tell gov only go for the runner!

Every time is f#$k the dealer and let the big crooks go free.

[Jamesc]

Every time COE goes up we sell less cars.

Our bread and butter is is comm from car sales

Not introductory fee for bank loans.

That's one the bank sales staff get the big comm.

Not us car dealers.

Haiz

[Benarsenal]

On 10/2/2023 at 6:03 PM, inlinesix said:

Honestly, why should govt look into this?

We are not a nanny state.

If ppl cannot understand this risk, orbigoot lor.

Are you sure?

[inlinesix]

On 10/2/2023 at 6:19 PM, Fitmugen said:

Normal car driver MAS only allow 50% loan. PHV driver likely lower income group they allow 100% loan. What logic is this?

For PHV car, I consider it as Commercial Loan.

[Hubwee]

On 10/2/2023 at 6:19 PM, Fitmugen said:

Normal car driver MAS only allow 50% loan. PHV driver likely lower income group they allow 100% loan. What logic is this?

PHV driver uses their car as a tool of trade to generate a steady stream of income …

normal car drivers uses their car for leisure or as a transport … 

that’s the diff I assume …