Planning to get a car

[Corny_Cow]

Hi guys, I'm planning to get a car and could use some good advice here.

I heard that COE supply is gonna go up sometime in 2015-2016, so I was thinking of getting a 2nd hand car with 1+yr left on its COE (so the car can tide me till late 2015 or early 2016 at least). After that I can scrap it and look for another car, either 1st or 2nd hand with a much lower COE.

any thoughts?

 

[d3vilstarz]

By right yes COE supply will be go up but how many can afford to downpay a card of 50% ?

Get a 2nd hand with 1 to 2 year , but have a value on COV else next car need to source for more $ to down

Hi guys, I'm planning to get a car and could use some good advice here.

I heard that COE supply is gonna go up sometime in 2015-2016, so I was thinking of getting a 2nd hand car with 1+yr left on its COE (so the car can tide me till late 2015 or early 2016 at least). After that I can scrap it and look for another car, either 1st or 2nd hand with a much lower COE.

any thoughts?

 

[milkncookie]

1. How sure are you coe supply will go up,

2. Even when it's true, would government slash supply like this year?

3. So say coe supple are ample, how sure are you that everyone is not waiting for this opportunity to buy. Thus making coe go up again (demand supply)

In what I can understand, coe will never come down again, unless you can reverse the number for rich people in Singapore who has money to pay 50%.

Unless government can make each people only eligible to own 1 car. But impossible, cause this money sucking business is so lucrative who want to make a change?

 

[omegawatch]

Just look around you, how many old cars on the road? Then think why are there so many old cars? For each COE released by scrapping each of these old cars, how many people will be bidding for it?

 

[danguard]

Demand will always exceed supply and the government is consciously attempting to reduce overall COE quantity so is think COE price net net will stabilize though. Buy car only when you can afford and not comprise on your quality of life bro

 

[kebinu]

If there's budget issue, it's always more affordable to get older car. Repeat this if necessary 1-2 years later and wait for opportunity to buy newer car.

 

[socketer]

By right yes COE supply will be go up but how many can afford to downpay a card of 50% ?

Get a 2nd hand with 1 to 2 year , but have a value on COV else next car need to source for more $ to down

I think a lot pay for their cars in full... NY few colleagues, and the sales executive at showroom shared with me...

That's biased sampling anyway...

 

[Dragon]

Hi guys, I'm planning to get a car and could use some good advice here.

I heard that COE supply is gonna go up sometime in 2015-2016, so I was thinking of getting a 2nd hand car with 1+yr left on its COE (so the car can tide me till late 2015 or early 2016 at least). After that I can scrap it and look for another car, either 1st or 2nd hand with a much lower COE.

any thoughts?

In my humble opinion, supply may go up but prices may not go down.

 

[DarthRevan]

Just look around you, how many old cars on the road? Then think why are there so many old cars? For each COE released by scrapping each of these old cars, how many people will be bidding for it?

to add on..some of the old cars might even renew the COEs by paying the PQP

 

[hg2]

hi,

I did exactly 2 years ago, when my COE expires. Hoping the price will drop in 2015-16.
my view :
1. car price keeps going up, may end-up paying more in 2015/6
2. current resale car price move in tandem with COE price, so there is not much cost saving as you need to spend $$$ on maintenance.

My advice, get second hand ONLY if you don't wish to pay 50% dp.

Br,
HB

 

[Yo2020]

My advice, get second hand ONLY if you don't wish to pay 50% dp.

2nd hand cars also need 50% down-payment ma. unless the scrap value of the older car is so high n the value of the newer car is so low.

 

[Yo2020]

1. How sure are you coe supply will go up,
2. Even when it's true, would government slash supply like this year?

LTA didn't slash, it's basing on the number of dereg. no drastic change to the formula to compute the number of coe to supply so far.

 

[sinicker]

people who are driving are waiting for COE prices to go down.

people who are taking the bus/MRT are also waiting for COE prices to go down.

will it go down?

if you have a need for a car, just get it.

 

[danguard]

Dun think it will drop drastically ... But I am happy to be proven wrong so I can change car also heh

 

[Cyberbaby]

Agreed what most members said are true.

Rootcause : Gahment getting more FTs to become Silliporeans, thus housing and cars ownership become a demand, and this cause inflate of prices lor.

 

[SimonLam]

If you ask me, my view is COE price will only go down when there is a major economy crisis such as depression.

During this stage, all prices goes down as fear supercedes demand - back to basic survival needs.

If you can wait.. Accumulate your wealth and wait for it to come.. Economic cycle will come.

 

[milkncookie]

If you ask me, my view is COE price will only go down when there is a major economy crisis such as depression.

During this stage, all prices goes down as fear supercedes demand - back to basic survival needs.

If you can wait.. Accumulate your wealth and wait for it to come.. Economic cycle will come.

I like the last sentence.

 

[warr]

if you don't need a car, better don't get a car. as simple as that.
then how to define the need? 80% of people here actually do not need a car. and even if there is a need, the need only applies probably 20% of the time.

 

[Corny_Cow]

If you ask me, my view is COE price will only go down when there is a major economy crisis such as depression.

During this stage, all prices goes down as fear supercedes demand - back to basic survival needs.

If you can wait.. Accumulate your wealth and wait for it to come.. Economic cycle will come.

yup. im in the finance industry and i follow the markets very closely so i believe the cycle will come. thats y im saving bullets by targeting a second hand car.

 

[AL5509]

yup. im in the finance industry and i follow the markets very closely so i believe the cycle will come.

Care to share when will it comes?
Aiming for it too leh.