COE Bidding - December 2023

[Kar_lover]

POV: me patiently waiting for Dec's COE thread 😆 i got vested interest lol

[Rickster]

On 12/1/2023 at 7:33 AM, Ct3833 said:

Fact is we did not bid for COE, it is the dealers who bid and compete for COE so that they can sell more cars,  at the expense of buyers pocket. If government bar the dealers from bidding, allowing only individuals to bid for COE on their own, that will give the true reflection of COE price, but we know LTA wont do that because that will hurt their income.

Individuals can all the while bid for COEs ourselves, but the problem is, when we walk into most AD/PI dealers with a COE in our hands and want to buy a car, chances are we will kena a "penalty" fee. That's the nature of business. They are not charitable organisations.

I think it's easier and more practical to take our fate into our own hands by bidding for our own COE than to wait for govt to order businesses to be run in a certain way. 

[Rickster]

On 12/1/2023 at 10:04 AM, Mkl22 said:

this i agree. cause the buyer decides the price of the car he is willing to pay by signing on the contract.

i support pay as you bid. makes the system more messy, but with mess, one can possibly snag a decent deal.

Not so messy if they could also make both the average and the range of price of each bid open info. Then that is truly a market driven price.

[Hubwee]

Actually for the 6 cars i brought these 2 years , all dealers quoted car price excluding COE lo ... given to option to bid COE myself lei ... couple of cars i lazy , just ask dealer to bid 1 for me ... 

So this self bidding of COE has always been available lo ... Ital / PMA / PML ... or even BM Toyota 3 years back ..   

[Theoldjaffa]

On 12/4/2023 at 2:47 PM, Hubwee said:

Actually for the 6 cars i brought these 2 years , all dealers quoted car price excluding COE lo ... given to option to bid COE myself lei ... couple of cars i lazy , just ask dealer to bid 1 for me ... 

So this self bidding of COE has always been available lo ... Ital / PMA / PML ... or even BM Toyota 3 years back ..   

for B&B cars, there's no such option for me.

all must be a package from the dealer, else lose the discount or impose penalties or worse, the without COE price is worse than with COE

[Ct3833]

On 12/4/2023 at 2:47 PM, Hubwee said:

Actually for the 6 cars i brought these 2 years , all dealers quoted car price excluding COE lo ... given to option to bid COE myself lei ... couple of cars i lazy , just ask dealer to bid 1 for me ... 

So this self bidding of COE has always been available lo ... Ital / PMA / PML ... or even BM Toyota 3 years back ..   

Because those cars that you bought  are so expensive that COE become a fraction of the total price, your dealers dont bother to include COE as part of their margin 🤣

[Hubwee]

On 12/4/2023 at 4:11 PM, Theoldjaffa said:

for B&B cars, there's no such option for me.

all must be a package from the dealer, else lose the discount or impose penalties or worse, the without COE price is worse than with COE

erm ... Supra was 225 without COE , Vellfire was 148 without COE ... End up works out to be almost same as their package pricing lo ... 

[Hubwee]

On 12/4/2023 at 4:43 PM, Ct3833 said:

Because those cars that you bought  are so expensive that COE become a fraction of the total price, your dealers dont bother to include COE as part of their margin 🤣

erm ... Supra was 225 without COE   , Vellfire was 148 without COE   ... End up works out to be almost same as their package pricing lo ...

Dun think the prices are expensive in today car prices context lo .... 

[Ct3833]

On 12/4/2023 at 2:39 PM, Rickster said:

Individuals can all the while bid for COEs ourselves, but the problem is, when we walk into most AD/PI dealers with a COE in our hands and want to buy a car, chances are we will kena a "penalty" fee. That's the nature of business. They are not charitable organisations.

I think it's easier and more practical to take our fate into our own hands by bidding for our own COE than to wait for govt to order businesses to be run in a certain way. 

Of course we all know individuals can bid for coe all the while but there is no way individuals like us  could compete with the dealers especially the big time dealers when our objective is to save money but their objective is to  secure coe to close deals.  Dont forget they even have margin built into their COE. When we bid for coe using our own accounts we will feel painful but the dealers will have no feeling at all when they bid high. What i mean was to ban them from bidding on buyers behalf of buyers at all, just allow the potential buyers to bid for own coe. Those dealers who said like they dont know when a consummer will get their coe therefore they cannot forecast their stocking, all bulls**t, when push come to shove, i amm sure they will sort  their way out, if they dont stock up enough, buyers  will just go somewhere else lor, it is up to them, after all they have up to 6 months to bring in their stock. But the problem is LTA lah, they just are not prepared to kill the golden goose. 

Edited December 4, 2023 by Ct3833

[Fitmugen]

Actually it works both ways. Whenever there is a big drop in COE, it’s always good to take dealer package, cos dealer will end up paying for the increase in the next bidding. 
Like the previous 40k drop in Cat B, those Tesla buyers suck thumb pay for $135k COE while those with dealer package locked in at $115k.

[kelaihoyin]

@Fitmugen Not exactly as they have build in the margins for the next bid. Take for example MG4. Purely based on list price:

209k 30Oct - COE 150K
183k 09Nov (delta is 26k but COE dropped 40k - COE 110K
202k 23Nov - COE 135k

Even more interesting is they are even earning more now as compared to COE at 150k. 
 

Edited December 4, 2023 by kelaihoyin

[Mkl22]

On 12/4/2023 at 7:50 PM, Fitmugen said:

Actually it works both ways. Whenever there is a big drop in COE, it’s always good to take dealer package, cos dealer will end up paying for the increase in the next bidding. 
Like the previous 40k drop in Cat B, those Tesla buyers suck thumb pay for $135k COE while those with dealer package locked in at $115k.

Yup, to the dealer it doesn’t matter who pays for the increase as long as some one pays. One is just suay if you book at high price but coe drop and only get a fraction of the drop as rebates. It has always been like that. 

[Mkl22]

On 12/4/2023 at 5:59 PM, Ct3833 said:

Of course we all know individuals can bid for coe all the while but there is no way individuals like us  could compete with the dealers especially the big time dealers when our objective is to save money but their objective is to  secure coe to close deals.  Dont forget they even have margin built into their COE. When we bid for coe using our own accounts we will feel painful but the dealers will have no feeling at all when they bid high. What i mean was to ban them from bidding on buyers behalf of buyers at all, just allow the potential buyers to bid for own coe. Those dealers who said like they dont know when a consummer will get their coe therefore they cannot forecast their stocking, all bulls**t, when push come to shove, i amm sure they will sort  their way out, if they dont stock up enough, buyers  will just go somewhere else lor, it is up to them, after all they have up to 6 months to bring in their stock. But the problem is LTA lah, they just are not prepared to kill the golden goose. 

Exactly, overseas also stock up and have fluctuations in number of buyers. 

[Fitmugen]

On 12/4/2023 at 8:30 PM, kelaihoyin said:

@Fitmugen Not exactly as they have build in the margins for the next bid. Take for example MG4. Purely based on list price:

209k 30Oct - COE 150K
183k 09Nov (delta is 26k but COE dropped 40k - COE 110K
202k 23Nov - COE 135k

Even more interesting is they are even earning more now as compared to COE at 150k. 
 

This model how they price also nobody buy leh

[Fitmugen]

On 12/4/2023 at 5:59 PM, Ct3833 said:

Of course we all know individuals can bid for coe all the while but there is no way individuals like us  could compete with the dealers especially the big time dealers when our objective is to save money but their objective is to  secure coe to close deals.  Dont forget they even have margin built into their COE. When we bid for coe using our own accounts we will feel painful but the dealers will have no feeling at all when they bid high. What i mean was to ban them from bidding on buyers behalf of buyers at all, just allow the potential buyers to bid for own coe. Those dealers who said like they dont know when a consummer will get their coe therefore they cannot forecast their stocking, all bulls**t, when push come to shove, i amm sure they will sort  their way out, if they dont stock up enough, buyers  will just go somewhere else lor, it is up to them, after all they have up to 6 months to bring in their stock. But the problem is LTA lah, they just are not prepared to kill the golden goose. 

The assumption that dealer bidded COE system jacks up COE may not be true. When you leave it to individual buyers, all will get so emotional when they see they are being outbidded. Then anyhow increase the bid. This was why some properties in Pasir Ris got sold at $2000psf, when irrational behavior kicked in. At least with dealer,  they have a limit based on margin. And they usually have 6 bids to deliver the car so no need to die die get in one bid

[Hubwee]

On 12/4/2023 at 9:53 PM, Fitmugen said:

The assumption that dealer bidded COE system jacks up COE may not be true. When you leave it to individual buyers, all will get so emotional when they see they are being outbidded. Then anyhow increase the bid. This was why some properties in Pasir Ris got sold at $2000psf, when irrational behavior kicked in. At least with dealer,  they have a limit based on margin. And they usually have 6 bids to deliver the car so no need to die die get in one bid

What you mention is so so true .. bidded for at least 4 COE myself , glued to the screen and always put in my final bid at the last minute no matter what price lo … cannot lose mentality lo as the faster I get my COE , the sooner can register new car … 

[thebestbees]

@Fitmugen thing is even if COE drops 40k most dealers probably adjust it by 20k only to prepare for the bounce the next round 

[Beehive3783]

On 12/4/2023 at 2:39 PM, Rickster said:

Individuals can all the while bid for COEs ourselves, but the problem is, when we walk into most AD/PI dealers with a COE in our hands and want to buy a car, chances are we will kena a "penalty" fee. That's the nature of business. They are not charitable organisations.

I think it's easier and more practical to take our fate into our own hands by bidding for our own COE than to wait for govt to order businesses to be run in a certain way. 

It's easier to vote them out la.