COE going downhill.

[mynickname]

But it also won't drop.
The 1% of people who can afford cars with Cash will just buy with cash.
The COE will still remain high.

Frankly, from all that I'm looking at, the idea of supply and demand doesn't seems to work for COE.
Because it's heavily controlled by the car dealers. The car dealers will just bid at example say 65K even if there's only 2 person buying cars, then when COE closes, the bid will just end at 65k.

1% may be rich and can afford cash, but the other 99% think they can afford the same with financing. Which do you think has a higher effect on the market?

 

[Velana]

but in a way.. isn't it because people are willing or unwillingly ok to pay 65k COE that dealers bid so high?

we pawned ourselves..

Yup.

If only 2 person buying it will be $1 bro

Nope, Because remember, we don't usually bid ourselves, even if we do, we also won't get it at the price we want. It's the dealers that's controlling the market.

Of course, unless dealers also want to play ball with normal singaporeans, so they just put low low. otherwise, they will definitely stick to their story of paying 65k COE. after all, it's the rich who are buying.

1% may be rich and can afford cash, but the other 99% think they can afford the same with financing. Which do you think has a higher effect on the market?

That's if you're talking about the whole market, I believe I'm talking about for each individuals, though all of us make up the market, but nonetheless, My point is that the dealers controls the figures, afterall, we wouldn't know how many people are buying and how many pay by cash/loans. At the end of the day, the dealers will just push COE high high and say many people bidding so push high high.

I still think the idea of Dealers bidding is stupid as hell.
If dealers want to bid, then they need to keep the car and cannot sell it. If is bought by customer, then the customer should bid themselves.

 

[exxondus]

Dealers are the ones pushing prices up la.
I dun mind they sell me car at the price i want without coe. Then i jus bid myself loh. The rich cant be buying cars ALL the time de mah. But dealers can be buying all the time and stock up.

 

[runforyourlife]

fall ah fall!

 

[Savantrainmaker]

Wasn't it Josephine Teo who said that the existing COE system with dealers pushing up the prices is still the best system for Singapore?

Why is the current PAP Government not changing the system, favour of the dealers?

 

[mynickname]

Yup.



Nope, Because remember, we don't usually bid ourselves, even if we do, we also won't get it at the price we want. It's the dealers that's controlling the market.

Of course, unless dealers also want to play ball with normal singaporeans, so they just put low low. otherwise, they will definitely stick to their story of paying 65k COE. after all, it's the rich who are buying.



That's if you're talking about the whole market, I believe I'm talking about for each individuals, though all of us make up the market, but nonetheless, My point is that the dealers controls the figures, afterall, we wouldn't know how many people are buying and how many pay by cash/loans. At the end of the day, the dealers will just push COE high high and say many people bidding so push high high.

I still think the idea of Dealers bidding is stupid as hell.
If dealers want to bid, then they need to keep the car and cannot sell it. If is bought by customer, then the customer should bid themselves.

Yes, agreed, dealers another problem maker.

 

[regency]

nothing stopping buyers to bid themselves. The deciding factor is -- do you have enough cash to pay COE upfront? Or need to include COE price into car price --> this, you will need to ask dealer to bid COE for you, as they will included COE into your loan.

 

[champagne_0910]

Dealers are the ones pushing prices up la.
I dun mind they sell me car at the price i want without coe. Then i jus bid myself loh. The rich cant be buying cars ALL the time de mah. But dealers can be buying all the time and stock up.

dealers just make it rather convenient to escalate prices.. coz they bid on behalf of their clients.. so as long as they know what's the "cost appetite" of their clients they will go all out..

if you bid yourself, you may choose not to bid that high.. but then you may never get the car.. then slowly after some time.. the market prices itself..

 

[champagne_0910]

nothing stopping buyers to bid themselves. The deciding factor is -- do you have enough cash to pay COE upfront? Or need to include COE price into car price --> this, you will need to ask dealer to bid COE for you, as they will included COE into your loan.

then people start saying that only the rich can afford to buy cars.. and the cycle repeats..

 

[satayxp]

LOL @ motobike coe ~

 

[gtwace]

Aiya, people will only pay as much as they can pay for a car mah, not like people will bankrupt themselves for a car.

 

[questsohai]

nothing stopping buyers to bid themselves. The deciding factor is -- do you have enough cash to pay COE upfront? Or need to include COE price into car price --> this, you will need to ask dealer to bid COE for you, as they will included COE into your loan.

We are already paying 50% upfront (total cost) for new cars to begin with.

 

[mynickname]

Aiya, people will only pay as much as they can pay for a car mah, not like people will bankrupt themselves for a car.

In Singapore, I won't be surprised.

 

[satayxp]

COEs fall a bit... More supplies ahead but cevs changes gonna take effect.

moi alrdy said before, this gahmen sibei one kind... they know coe supply increasing, so revise the CEV to collect the shortfall just nice ~
lol

 

[satayxp]

nothing stopping buyers to bid themselves. The deciding factor is -- do you have enough cash to pay COE upfront? Or need to include COE price into car price --> this, you will need to ask dealer to bid COE for you, as they will included COE into your loan.

i hv always said COE must not be covered by car loan
if hdb COV cannot be covered by housing loan why is car COE allowed to be covered?




but u know i know if gahmen revise this, their takings from COE will drop.. so tats why

 

[dustyRoom]

Yup.



Nope, Because remember, we don't usually bid ourselves, even if we do, we also won't get it at the price we want. It's the dealers that's controlling the market.

Of course, unless dealers also want to play ball with normal singaporeans, so they just put low low. otherwise, they will definitely stick to their story of paying 65k COE. after all, it's the rich who are buying.



That's if you're talking about the whole market, I believe I'm talking about for each individuals, though all of us make up the market, but nonetheless, My point is that the dealers controls the figures, afterall, we wouldn't know how many people are buying and how many pay by cash/loans. At the end of the day, the dealers will just push COE high high and say many people bidding so push high high.

I still think the idea of Dealers bidding is stupid as hell.
If dealers want to bid, then they need to keep the car and cannot sell it. If is bought by customer, then the customer should bid themselves.

If quota is 1.4k, 2 bidders only. It will be $1. but it customers final price would be about a couple of thousands as there is coe rebate.

Sent from within a supervolcano using GAGT

 

[minimalistism]

i hv always said COE must not be covered by car loan
if hdb COV cannot be covered by housing loan why is car COE allowed to be covered?




but u know i know if gahmen revise this, their takings from COE will drop.. so tats why

This one will make many peasant cannot afford as well right? They need cash to pay coe just like use cash to pay down payment

Sent from OnePlus A0001 using GAGT

 

[mynickname]

This one will make many peasant cannot afford as well right? They need cash to pay coe just like use cash to pay down payment

Sent from OnePlus A0001 using GAGT

If you can't afford when only cash required, you won't be able to afford when you can take loan. Whole world take loan, the only thing that move is the price, it doesn't make it any more affordable.

COE finance with loan is to inflate the figure, no more, no less. In essence, govt borrow money from the banks but you foot the bill.

 

[twentytwoeighty]

Lmao $60K COE. Considering that's like 3000 ~$20 taxi rides and there's only 3650 days in 10 years and you don't need to pay for the car, tax, fuel, maintenance, insurance or even the license and you still get stuck in traffic everywhere you go...Also can put that bulk of the $60K into investment to earn interest than taking loan to buy COE to eat interest.

BTW "LOOKING FOR WORKER, I PAY YOU ONLY $3K, MUST HAVE PERSONAL CAR" lolololol.

 

[Unholy85]

this week many parents go holiday...so COE will crash right?