COE going downhill.

[TopGun]

Was looking on SGCarmart for a Toyota Altis. June 2009 (5 years old) Altis still selling for $65k, about $11k/year depreciation per year. Think brand new is about $110k now, about $10k/year depreciation. Might as well get a brand new car.

If those 2nd hand dealers still don't cut price, the value of the car will just keep depreciating with time.

Loan quantum is different between the two cars.

 

[jefefe]

I thought will gradually increase till 2015? How come reduce?

this was what LTA said before they increasing the quota end May

 

[kensalt]

Can share website link or how to bid? I wan buy car but v ex lei..2nd hand oso ex

this own bidding like toto siah

How to bid

 

[onegoal]

does that mean now shouldnt buy 2nd hand?

No buy 2nd is good. Go get your is250

 

[dustyRoom]

Waiting for second hand dealers to slash prices. Now depreciation of their second hand cars same as new car. No diff sia.

 

[dustyRoom]

later last 1min all car dealer add afew hundred to the bid quota

No leh if u noticed, the past 2 or 3 biddings, by 330pm the numbers sort of stabilise liao

 

[Herbalist]

didn't get the last bidding

 

[shashimi]

Can share website link or how to bid? I wan buy car but v ex lei..2nd hand oso ex

this own bidding like toto siah

is actually almost the same le except that you can help to lower down the bid by abit.
you can bid 100k for it but end up paying like only 70k if the last person bid 69999.

 

[dustyRoom]

If I bid successfully on my own, then go buy from authorised dealers, ijjit more ex?

 

[Yo2020]

this was what LTA said before they increasing the quota end May

hello, it was last announced in mid apr. where got say such thing 1?

 

[Yo2020]

No leh if u noticed, the past 2 or 3 biddings, by 330pm the numbers sort of stabilise liao

lots of bids, but every increment is at a v small amt in the last 30mins.

 

[Bonafider]

I dun really understand how the COE bidding system works. Can someone who does be kind enough to explain?

So every round of bidding there is a quota, so X number of COE available. Let's say 100.

So if I were to enter a bid of, say 20k. What happens? Another person bids 25k. What happens? Can anyone bid lower than my 20k?

How to determine what is the final price of a particular month's COE price?

 

[parkingandride]

does that mean now shouldnt buy 2nd hand?

Haha. This is what i have been trying to tell u ma...
2 yr old elantra at 93k vs brand new elantra at 94k... of coz go for brand new.. 3 yr old elantra at 85k... oh man...

 

[Mr_Bean]

I dun really understand how the COE bidding system works. Can someone who does be kind enough to explain?

So every round of bidding there is a quota, so X number of COE available. Let's say 100.

So if I were to enter a bid of, say 20k. What happens? Another person bids 25k. What happens? Can anyone bid lower than my 20k?

How to determine what is the final price of a particular month's COE price?

if u bidded 50k and bids ends at 51k, u wont get COE.
if u bidded 70k and bids ends at 51k, u get COE and they will return u the difference.

 

[rtfm38]

I dun really understand how the COE bidding system works. Can someone who does be kind enough to explain?

So every round of bidding there is a quota, so X number of COE available. Let's say 100.

So if I were to enter a bid of, say 20k. What happens? Another person bids 25k. What happens? Can anyone bid lower than my 20k?

How to determine what is the final price of a particular month's COE price?

people put in bids and at the end everyone pays the highest bid amount. clear enough for you?

 

[parkingandride]

people put in bids and at the end everyone pays the highest bid amount. clear enough for you?

Not highest lah. Cut off amount

 

[arctician]

Haha. This is what i have been trying to tell u ma...
2 yr old elantra at 93k vs brand new elantra at 94k... of coz go for brand new.. 3 yr old elantra at 85k... oh man...

got any model to SIC bo? how come u reserach so long lioa havent buy?

 

[parkingandride]

got any model to SIC bo? how come u reserach so long lioa havent buy?

I juz sold mine last yr and wanting to buy a newer car..

Then realised now new car price are more worth. I not really urgent in need of car.. like u, i renting for car club... most likely will buy in next 1-3 mths ba..

 

[djkopikat]

think hard for them to cut price cos they buy high of course wan to at least cover cost

U can't be more wrong... they buy very low sell high... they take ur car at the pro-rated value of ur purchase price, then sell the car using current new car price as a benchmark... really a bunch of stinky ah bengs trying to cheat $...

 

[blues7]

Used car need more maintenance

Tyres, Aircon etc

Most far look ok on outside but interior? Engine?

Spending so much already, not worth to get something not good

The catch is such that. You don't know how good is your used car until you use it for sometime

Know someone who bought used car, after few months then he realize something not quite right with the car