MAY latest COE results

[ahboy72]

MAY 2014 1st Open Bidding Exercise has ended on 07/05/2014 16:00 hrs

RESULTS FOR MAY 2014 1ST OPEN BIDDING EXERCISE
Category Quota QP($) PQP*($)
A CAR UP TO 1600CC & 97KW 513 60,002
B CAR ABOVE 1600CC OR 97KW 483 70,002
C GOODS VEHICLE & BUS 389 36,301
D MOTORCYCLE 343 4,001
E OPEN 295 65,501

 

[ahboy72]

Cat A $60,002
Cat B $70,002
Cat C $36,301
Cat D $4,001
Cat E $65,501

 

[materick]

govt need to take car dealers out of the equation when bidding for COE before it comes down further........

better still, force car dealers to sell cars EXCLUDING COE. you bid for your own COE first then you buy your car.

 

[ahboy72]

This will never happen, and this is also why the current price of COE are today.
If car buyers are to bid for their own COEs, the premium will be at least halved or even more.
And they should also make COE's not part of the loan,. All COEs have to be paid by CASH!
They once some big news quite awhile back where some buyers when to buy their own cars without COE BUT the authorized dealers did want to sell their cars without COE

 

[omegawatch]

This will never happen, and this is also why the current price of COE are today.
If car buyers are to bid for their own COEs, the premium will be at least halved or even more.
And they should also make COE's not part of the loan,. All COEs have to be paid by CASH!
They once some big news quite awhile back where some buyers when to buy their own cars without COE BUT the authorized dealers did want to sell their cars without COE

With the 50% downpayment rule, you are effectively paying in cash for the COE already.

 

[limkopilimteh]

though COE ended at 60k, my dad got his mazda at a price based on 57k COE.
guess mazda wanted to lock in the sale first. This being the first non-guaranteed bid.

To me, it seems like mazda is anticipating further drops to Cat A COE. Sit tight!

 

[ahboy72]

With the 50% downpayment rule, you are effectively paying in cash for the COE already.

What i mean is that COE and car price be separated. Full cash for COE paid by buyer NOT thru dealer. And then 50% downpayment for the base car price.
Also now the car dealers can do 2-3years lease and they bid for the COE and later lease to you so no large downpayment but monthly quite high.

 

[ahboy72]

though COE ended at 60k, my dad got his mazda at a price based on 57k COE.
guess mazda wanted to lock in the sale first. This being the first non-guaranteed bid.

To me, it seems like mazda is anticipating further drops to Cat A COE. Sit tight!

Can do a simple calculation
OMV for Mazda 3 is about $18,400
ARF 100%. $18,400
Excise duty 20% of OMV. $ 3,680
Your COE(amount u bid). $57,000
Total. $97,480
Dealers profit (estimate) $ 5,000
So if your dad paid. $102,480
Mazda still made $5k from the sale, if your dad paid $97,480
Then Mazda is really desperate to move their stocks.

 

[winfong]

Make us bid the COE ourselves..... (=_=)
and Kill the Golden Goose ?? ^^

 

[snipfer]

Make us bid the COE ourselves..... (=_=)
and Kill the Golden Goose ?? ^^

if there is enough LOW BALL bids...why not?

 

[cscs3]

Still has lots of room to go down. Don't need to hurry.

 

[kebinu]

Lewis from Mazda told my friend... if we can rally many people not to bid, the price may really drop due to demand.

Possible?

 

[Tyrian]

No need rally la

Just need another financial crisis to happen.

 

[warr]

the car dealers know what coe level will be before the bidding, because they are the bidders. and thus they can sell u in advance with adjusted prices yet without Coe risk.

 

[Yo2020]

though COE ended at 60k, my dad got his mazda at a price based on 57k COE.

i guess u meant based on 57k COE rebate level. this is not the max price they will bid. the selling price has buffer for much higher than this.
obvious if successfully obtained the 60k COE, this already can tell that the buffer was at least 3k.

 

[devilcup]

i guess u meant based on 57k COE rebate level. this is not the max price they will bid. the selling price has buffer for much higher than this.
obvious if successfully obtained the 60k COE, this already can tell that the buffer was at least 3k.

yeah, spoke to some SE, normally if they want the sale closed their boss will top up the difference which is normally a few Ks.

 

[superman]

Lewis from Mazda told my friend... if we can rally many people not to bid, the price may really drop due to demand.

Possible?

Car Dealers are the main bidders for COE, so unless you can get all Car Dealers not to bid.

 

[Yo2020]

yeah, spoke to some SE, normally if they want the sale closed their boss will top up the difference which is normally a few Ks.

what i meant is dont b fooled by the sales ppl that the COE Rebate Level is what a buyer paid for. the selling price has in fact already included a COE value way beyond the COE Rebate Level.
eg. a selling price of 105k may hv already considered a max COE value of 64k n with a COE Rebate Level of 57k.
now if a 60k COE is bidded successfully, the buyer may think that he "earn" 3k. but in fact, the dealer actually "makan" the buyer 4k. this is y the dealers wanted buyers to buy car with COE n thus earned more frm the buyers!

 

[limkopilimteh]

i guess u meant based on 57k COE rebate level. this is not the max price they will bid. the selling price has buffer for much higher than this.
obvious if successfully obtained the 60k COE, this already can tell that the buffer was at least 3k.

well, the sale price was 106k at 57k coe.
they were selling at 109k at 60k coe.
so they could buffer all they needed, but what im looking at is the final price.

how they calculate is their problem really...what matters is that u put in a price you are comfortable with.

No idea why people want to go to the extend of calculating OMV, taxes, etc to calculate dealer margin. What matters to me is the final price which the car is being sold.

But really, 106k is a huge amount to pay for a car. I probably wouldnt go for it myself.

 

[AL5509]

But really, 106k is a huge amount to pay for a car. I probably wouldnt go for it myself.

Mind I ask is Mazda 3 considering the 'cheapest' comparing to other brands aka model with similiar specs?