PHV BLOODBATH is here. Near-New Alphards, Sientas are available

[Wyattbird]

Let them bleed more. Then they will learn the repercussions of greed.

 

[Dividends]

Don't bother, most of the bidders will be other rental companies.

 

[Kiwi8]

I am still very pissed at the state of matters, how come LTA allow an entity whose vehicles are still on hire purchase ie cars that are on loan, to be rented out to phv drivers? Isn't this an obvious case of over leveraging? This should be outlawed to prevent unscrupulous entities from over leveraging themselves and escaping with not having to pay for their debts.

 

[blue666]

CEO drops nearly 7%

SINGAPORE — Certificate of entitlement (COE) premiums for smaller cars (Cat A) fell by 6.8 per cent to $102,009 following the first bidding exercise for January 2026 on Wednesday (7 Jan).

However, the dip of almost $7,500 in Cat A was not mirrored in premiums for larger and more powerful cars (Cat B) which rose by 3.5 per cent to $119,100.

The Open category (Cat E) also experienced a spike of around 2.5 per cent, going from $119,000 to $122,000 today.


Meaning PHV got more cars and they now realizes car leasing cannot make $$??

 

[fly1111]

Who are the fools that believe the gov narrative these phvs drove COE premium up?

These leasing coys can't wait to to bid and get coe at $100 or even lower. Those who drove COE up and up are the car sellers. The car sellers are the ones who dictate the COE amount. Can these phv or leasing coy tell the car sellers the amount they want to bid?

Mostly car seller and leasing companies.
Basically the money lender ( those got license), ah long (no license because not local) and family office.
Not only did they bid up COE. They open record amount of F&B Company and bid up rental causing inflation. They also buy up a lot of private clinics driving medical cost.
With 65% mandate everything is mother ****ing gooot

 

[blankies]

Coe Car a dropped 6%. This is just tip of iceberg?

 

[Kunkka]

I am still very pissed at the state of matters, how come LTA allow an entity whose vehicles are still on hire purchase ie cars that are on loan, to be rented out to phv drivers? Isn't this an obvious case of over leveraging? This should be outlawed to prevent unscrupulous entities from over leveraging themselves and escaping with not having to pay for their debts.

U mean the car hirers got a caveat on the car?

 

[Kiwi8]

Mostly car seller and leasing companies.
Basically the money lender ( those got license), ah long (no license because not local) and family office.
Not only did they bid up COE. They open record amount of F&B Company and bid up rental causing inflation. They also buy up a lot of private clinics driving medical cost.
With 65% mandate everything is mother ****ing gooot

Basically is idiots like Autobahn bidding for COEs like no need money one. Highly suspicious that maybe they are doing money laundering.

 

[Kiwi8]

U mean the car hirers got a caveat on the car?

I am not sure on what u mean by caveat, but what I want to point out is that Autobahn rented out these hire purchase vehicles to phv drivers, where some drivers signed up to long term contracts but still got their vehicles seized by Autobahn creditors.

So Autobahn took advance monies from phv drivers but failed to pay for the loans taken out to purchase the vehicles, isn't it just like those gym or hair salon tactics to sell packages and declare bankrupt only to repeat the antics by setting up another firm?

 

[hub8246]

Coe Car a dropped 6%. This is just tip of iceberg?

Why you left out cat b? Cat b increases.

 

[wongminmin]

COE going to collapse soon?

 

[hub8246]

guys !! almost new car <3yrs old.. shall be under warranty from agent...

mai scare... where can i bid for the car !!!

Some agent set the mileage <100k km as warranty. Pte hire car usually break this 100k km easily within first few years.

 

[blue666]

I am not sure on what u mean by caveat, but what I want to point out is that Autobahn rented out these hire purchase vehicles to phv drivers, where some drivers signed up to long term contracts but still got their vehicles seized by Autobahn creditors.

So Autobahn took advance monies from phv drivers but failed to pay for the loans taken out to purchase the vehicles, isn't it just like those gym or hair salon tactics to sell packages and declare bankrupt only to repeat the antics by setting up another firm?

If Autobahn took a loan from the FI; assuming unconditional, the FI will have the 1st charge mah

As for the hirers, these are low ses, they don't read contract; they smell the brand new MPV wrapped in plastic, their head and kkj harden. Put signature, put little bit $$, can go home with shinny vehicle.

 

[jtjt00]

Won't be too cheap one la. Maybe 5k below the market rate?

Who will buy abused vehicles without massive discount? Don't forget need to cough out above $10k to make these vehicles roadworthy.

 

[Kiwi8]

If Autobahn took a loan from the FI; assuming unconditional, the FI will have the 1st charge mah

As for the hirers, these are low ses, they don't read contract; they smell the brand new MPV wrapped in plastic, their head and kkj harden. Put signature, put little bit $$, can go home with shinny vehicle.

It is not a bit of money leh, if say the contract was for 6 months, some drivers do pay off the entire 6 months at one go leh.

 

[Comage]

Who will buy abused vehicles without massive discount? Don't forget need to cough out above $10k to make these vehicles roadworthy.

Oh the typical responses from the typical SG car guy will include:
- Go JB workshop
- Go to xyz workshop, they sell "brand new parts", much cheaper than AD
- Scared don't buy; buy don't scared

Lame reasons if you ask me.

 

[blue666]

It is not a bit of money leh, if say the contract was for 6 months, some drivers do pay off the entire 6 months at one go leh.

A contract is a contract

who give a shllt to low ses phv hirers who signed and agreed to the contract? whether if they are in hardship and someone is gonna die without grab.

if they even have a bit of common sense, knowing their downside when signing the contract, by seeking legal advice, they know the risk they are exposed

as for now, they can just let these leasing companies screwing their holes bigger than original

like it or notch, these low ses are the ones who driven the coe high; they are those who cut your lanes, block your roads, and give you the middle fingers. For these, appreciate what Comfort was regulating the drivers in the past.

 

[ckt1978]

Bankrupt liao la

The JM now firesale all their assets. Maybe can get at 40-50% discount

wait long long la.
at most 5-10%. but u wun know what happened to it before.

 

[seowbin]

I am not sure on what u mean by caveat, but what I want to point out is that Autobahn rented out these hire purchase vehicles to phv drivers, where some drivers signed up to long term contracts but still got their vehicles seized by Autobahn creditors.

So Autobahn took advance monies from phv drivers but failed to pay for the loans taken out to purchase the vehicles, isn't it just like those gym or hair salon tactics to sell packages and declare bankrupt only to repeat the antics by setting up another firm?

Probably buy some, loan some, refinance again.

Grab driver able to pay 5% or more interest a month also have. Anyway nowadays all rent from day to day. They collapse liao, they never pay also

 

[mastermember]

Where to buy?