COE Bidding - July 2024

[Tianmo]

On 7/20/2024 at 8:41 AM, Fcw75 said:

China companies really will come and flood the market with cheap price to grab market share.

Luckin coffee for example and many others.

Soon the ah lian market also will be 中华天下, max another 3-4 years.

 

[Fcw75]

On 7/20/2024 at 9:12 AM, Tianmo said:

Soon the ah lian market also will be 中华天下, max another 3-4 years.

 

Latte at $3+ vs $6+ at CBTL, Starbucks, etc.

No brainer.

[inlinesix]

On 7/20/2024 at 9:53 AM, Fcw75 said:

Latte at $3+ vs $6+ at CBTL, Starbucks, etc.

No brainer.

All 3 has bad latte

[Tianmo]

On 7/20/2024 at 9:53 AM, Fcw75 said:

Latte at $3+ vs $6+ at CBTL, Starbucks, etc.

No brainer.

Yah, from what I read, for every ang moh brand, there is a PRC look alike, cheaper and more localize. 

Anyway, history shows, anything PRC touches, end up with price erosion.

 

[jaytan1220]

Guys, not sure where I can post this but need some advice.

 

Bought a new car from a reputable AD after computing the estimated premium paid. Recently got the COE and car was registered. To my horror, OMV was much lower than usual and now checking with AD what is going on. I understand usually there will be a difference but not to the extend of more than 25% lower. Any guys have such an experience and if so, how do I go about dealing with the AD.

 

Thanks in advance

[Hub8246]

@jaytan1220

Can you share the model make? Easier for people to comment. 

[Hub8246]

Or you can use following link to check past record of the car omv. 

 

https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/upfront-vehicle-costs/open-market-value--omv-.html

[jaytan1220]

@Hub8246 thanks for the link. I have checked and OMV is aligned to my expectation. It could be an error unless parts got strip causing the OMV to dip. I am avoiding naming AD for now since I am resolving it with them.  Just wondering if they refuse, what would be my option/s.

 

I am asking for a refund of the difference and if this is an option, how would one compute such as it would be the ARF difference++?

 

[Koster]

On 7/25/2024 at 8:18 PM, jaytan1220 said:

@Hub8246 thanks for the link. I have checked and OMV is aligned to my expectation. It could be an error unless parts got strip causing the OMV to dip. I am avoiding naming AD for now since I am resolving it with them.  Just wondering if they refuse, what would be my option/s.

 

I am asking for a refund of the difference and if this is an option, how would one compute such as it would be the ARF difference++?

 

They can claim that things like foreign exchange rate is beyond their control, hence the difference. Anyway hope u get the refund. Good luck bro. 

[jaytan1220]

@Koster thank you. Any exchange delta, they can prove to me but they already admitted this was an error which will take months to resolve.  Anyway, I work out what is the sum they should refund me. If we cannot come to an agreement, I will just let the legal person handle such and continue w my current ride.

 

Edited July 25, 2024 by jaytan1220
Typo

[Koster]

On 7/26/2024 at 6:27 AM, jaytan1220 said:

@Koster thank you. Any exchange delta, they can prove to me but they already admitted this was an error which will take months to resolve.  Anyway, I work out what is the sum they should refund me. If we cannot come to an agreement, I will just let the legal person handle such and continue w my current ride.

 

Btw under declaring OMV is considered cheating our nation. Taxman would go after them too I think. 

Edited July 25, 2024 by Koster

[Forsei]

I'd say, probably won't get anything out of it. Conversely, if omv increased, should you top up? 

Live and let live... Drive new car happy liao

[jaytan1220]

@Koster This one I let AD deal with Ah gong direct and I don't think they would do such as they are reputable.

[jaytan1220]

@Forsei different perspective bah...anyway, we have more or less reached an agreement amicably. Thanks for the input. 

[Daniu82]

On 7/20/2024 at 9:12 AM, Tianmo said:

Soon the ah lian market also will be 中华天下, max another 3-4 years.

 

What’s ah lian market? I only know ah lian and ah huey. 

[epigram]

On 7/26/2024 at 1:43 PM, jaytan1220 said:

@Forsei different perspective bah...anyway, we have more or less reached an agreement amicably. Thanks for the input. 

Interesting! It just be a unique situation where your car sale price is pegged to the OMV such that any change leads to an adjustment. I thought usually only COE price changes are catered for.

[shinkong]

Stock market crashing going to have any impact to coming COE bidding?

[hansmith]

On 7/26/2024 at 6:27 AM, jaytan1220 said:

@Koster thank you. Any exchange delta, they can prove to me but they already admitted this was an error which will take months to resolve.  Anyway, I work out what is the sum they should refund me. If we cannot come to an agreement, I will just let the legal person handle such and continue w my current ride.

 

The AD "admitted this was an error which will take months to resolve", means what?

Do you mean the AD admitted that this OMV issue is their fault and they owe you money because of the difference in the OMV and therefore PARF? 

I have never seen a sales agreement whereby the agreed upon purchase price for the car will change depending on the actual OMV of the car.

Usually, the AD quotes you a price, you negotiate, you come up with a final price, you both agree on it and that's it. That's the final price.