Congrates - COE just went up!

Subject: Congrates - COE just went up! Thu Nov 10, 2011 10:10 pm

Bah humbug!

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COE prices mostly up, big cars highest in 2011

The rush to meet annual sales targets and anticipation of fewer certificates of entitlement (COE) next year conspired to send most COE prices higher in the latest tender on Thursday.

COE prices for cars up to 1,600cc ended at $55,997, down slightly from $56,112 three weeks ago. COE prices for cars above 1,600cc finished at $77,000, up from $75,889. The COE prices for cars more than 1,600cc and in the Open category are the highest in 2011.

Open COE, which can be used to register any type of vehicle but ends up mainly for cars, shot up to $78,001 - from $73,600 previously.

The rate for commercial vehicles shot up to post a new record of $40,803, from $37,011.

Hall of Fame Golfer Posts : 5599 Join date : 2010-01-28

good la, imagine u buy liao and then market turns bad and get retrench... additional burden.

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 12:23 am

Still not 100K yet? Surprised....

Very Active Golfer Posts : 533 Join date : 2011-09-16

High Coe prices means less orders.. Less orders means I get more options and my car delivered faster!! Very Happy

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 6:05 am

What surprised me is that there is so many desperate people wanting cars and willing to bid higher prices.

Hall of Fame Golfer Posts : 5599 Join date : 2010-01-28

They are not desperate people, they are rich people. Smile

Newbie Golfer Posts : 19 Join date : 2011-10-19

COE is said to be going up Sad

so, better to buy car now

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 8:41 am

HUAT AH!!!

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 8:47 am

Lucky my Coe still good for 7 more years. no car very hard to play golf in jb.

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 8:52 am

nrafee wrote:: Lucky my Coe still good for 7 more years. no car very hard to play golf in jb.

Sell ur car with gd profit n buy sg golf membership? Hehe

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 9:43 am

nrafee wrote:: Lucky my Coe still good for 7 more years. no car very hard to play golf in jb.

Second hand car prices are gonna shoot up, for sure.

@nrafee, you play golf in JB??? Next time can jio you already. Hahhahah...

Very Active Golfer Posts : 533 Join date : 2011-09-16

duffader wrote:: They are not desperate people, they are rich people.

Wow that's a good one. cyclops

Very Active Golfer Posts : 825 Join date : 2010-03-03

LTA reduces COE they will definitely increase the $$$ goes without saying for the piece worthless paper.

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 1:22 pm

mloy wrote:

nrafee wrote:: Lucky my Coe still good for 7 more years. no car very hard to play golf in jb.

Second hand car prices are gonna shoot up, for sure.

@nrafee, you play golf in JB??? Next time can jio you already. Hahhahah...

Sure! But my flight mates all need to have a sharp eye to help me find ball in the bushes. Smile

Super Active Golfer Posts : 1121 Join date : 2009-06-21

pray hard for economy down turn...for golf sake....

Hall of Fame Golfer Posts : 8185 Join date : 2009-06-19

My view.....COE go up is a good thing.

Coz since the demand will not go down....the rise of the value of COE will ensure that SGD currency remain in the country....if folks don buy car, and buy other things overseas ...then liao la

Moreover, with more taking more loan, the folks have no choice but to work and ensure workforce availability to support the anticipated growth of the country

so...my 'freak-o-logic'...the higher the COE = the better for the country

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 3:48 pm

No demand no high COE. That's the work of the market. No car chasing no aggressiveness in bidding. In the end, it's the consumers' fault for the high COE not the dealer or LTA since they are willing to pay for the high COEs. No point for those who bought with high COEs. When you try to sell your car

Newbie Golfer Posts : 23 Join date : 2010-10-31

Taxi coy oso chiong the same COE cat ba...

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 7:11 pm

Taxi is probably the ones that makes it so hard. Its a conspiracy.

If everyone unselfishly bid for SG10, then the price would then be in people's control and not at the mercy of the system. Then again, humans are inherently selfish, hence, we are victims of our own act.

Subject: Re: Congrates - COE just went up! Fri Nov 11, 2011 9:09 pm

Actually if allowed I am sure many car buyers would want to bid for the COE themselves. However, it seems quite difficult to get a good deal from the dealers as well as other reasons as follow:

1. Potential bidders have to put an upfront deposit during the bidding exercise and therefore
prefer to leave it to the dealers to bid on their behalf. This allow the car dealers to bid at
a higher price, and as a result, higher price for the cars.
2. Car dealers are not willing to do the necessary administrative documentations since they
are deprived of extra profit from higher loans resulting in them selling the cars at a
higher price to recover the shortfall in profit.
3. Car dealers usually package in the insurance together with the finance companies on the
loans including the COE. If the COE is taken out (which is quite a big chunk of the loan),
they have no incentive to serve you better.

The above are what I think could be the cause of the high COEs. If car buyers are willing to cooperate (similar to petrol) and do more leg work rather than being lazy and leave it to the car dealers, I am sure the price will come down.

In the end, car buyers only have themselves to blame as they are the market forces and should not blame LTA or the dealers. And now used car dealers are exploiting this high COE situation. Don't blame them too because you ask for it. Smile

Senior Golfer Posts : 273 Join date : 2009-11-12

The Congrates should goes to Motorbike dealers.

Saw the straits time, due to High COE, quite a number of people change to buying high end bikes $30-40K.

One example is Ducati, ducati distributor said its selling more than double the number of bikes compare to last year

Subject: Re: Congrates - COE just went up! Sat Nov 12, 2011 12:09 am

Like that I have to congrates a lot of people.... I will start with LTA then dealers, rich men/women and so forth.

As for the very normal people out there, I cant offer any but sympathies. The average folks are the victim of system. Sad but true.

Hall of Fame Golfer Posts : 5599 Join date : 2010-01-28

your car due soon is it??? anyway, its congrats... not congrates

Car is a luxury, not a necessity. For those who needs a car for their work... yes... i do pity them, but there are always options of getting used cars... aka, left with 3-4 years. Those should be cheaper. If you ask me... the difference is only on the interest loading.... but if you are talking about depreciation of the car... there won't be much of a difference per year. In fact... those that are 1 or 2 years old.. you will be paying more because you are paying in reference to the current market value and not the true value.....

Subject: Re: Congrates - COE just went up! Sat Nov 12, 2011 12:34 am

No la, still have 3 yrs. Even 2nd also not cheap la.

I have to start training on bicycles now. By that time, I think that is the only afford mode of transport. At least Bicycles dont have COE.

Hall of Fame Golfer Posts : 5599 Join date : 2010-01-28

the only way its going its up..... with so many new plans for additional mrt lines and expressway... they need funding for these projects.

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