Changes to Vehicle tax & loan conditions

@slinger,

If only I have a crystal ball which unfortunately I don't.

Personally, I will wait a month or two and see what will happen next. The price for used cars have dropped but it applies to the value of your car if you wish to trade in, i.e. LPPL. There is a piece of news this morning that our gahman will tighten the loop holes and they may clamp down on the credit companies as well. For those who need to maximise the loan, I think you should act fast.

@Derek,

I agree with the policy for new cars but disagree for used cars. I feel that the loan policy on used cars should not be that stringent. Down payment is a must but 30% should suffice and the loan tenure should be stretchable beyond 5 years or till the car is ready to be scrapped.

As I said there might be a down turn in economy, government is preventing Singaporean running into debts, now government is cutting down overseas workers quota for small and medium or light industries, many business might not be able to survive, and might move their production overseas, what will happen if many light industries move out of Singapore? Many people will be out of job. So be careful now of what you spend, the impact will come later.

Suzuki wrote:

As I said there might be a down turn in economy, government is preventing Singaporean running into debts, now government is cutting down overseas workers quota for small and medium or light industries, many business might not be able to survive, and might move their production overseas, what will happen if many light industries move out of Singapore? Many people will be out of job. So be careful now of what you spend, the impact will come later.

So Eric, our next game $0.50 -$0.50 -$1 ok ??

Don't bet leow. Heehee

Suzuki wrote:

Don't bet leow. Heehee

Wa...gd gd, Eric!
I follow yr example so next game jio ok?
Still give 4-4 hor!

Next Wednesday aimai? Airforce 0715. Don't talk talk only hor. You ask I arrange. I book leow. Eh off topic leow lah, you SMS me lah

March 1st bid result:
CAT A: $74,689 (prev bid $78,301)
CAT B: $58,090 (prev bid $92,667)
CAT E: $65,001 (prev bid $91,910)

Seems like the new rules are taking effect!
CAT B & E COE price is now cheaper than CAT A.
If u have the cash, time to buy big cars...

Look at the number of bids. Way higher than the previous number of bids. Almost 3 times. Seems like many are still queueing for COEs.

I was in 4 showrooms last week. Talked to the dealers. Many have back log to clear.

I guess I can wait for another 3 months. That's about the time all the back log clears. Also those that bought at $90k will deregister their cars, export, take back arf rebate and buy new cars like what happen in the old days. With lots of deregistering, COE will drop further lah.

Thats my view.

Big cars bigger tax as well, no? so time to renew COE?

I guess there are alot of opportunist bidders also.
They are individual bidders trying their luck to get a damn cheap COE.
It's just a small adminsitrative charge in order to bid.
But if u get it at such low coe, laugh till teeth drop ah. Haha!

TDO wrote:

Anyone ever wonder who is controlling the COE prices? The dealers or the buyers?I think it's the dealers.

If you look at it in another perspective, the government is the one who is indirectly controlling the COE price ...

Turbo wrote:

TDO wrote:

Anyone ever wonder who is controlling the COE prices? The dealers or the buyers?I think it's the dealers.

If you look at it in another perspective, the government is the one who is indirectly controlling the COE price ...

I agree with Turbo

Its nt how low the COE has dropped!
Its e upfront cash payment of 50% fr e purchase tat matters!
Oso has to consider e high finance interest rates too.

At the end of the day, if you can buy what you can afford w/o touching future money, then all these measures don't really affect you.

I hope I'm stating the obvious here....just want to share what I feel. And I do hope they will put more car sharing schemes out there. I was a member of Honda Diracc when they were around 5 years back and loved the fact that I can get access to a Civic Hybrid fairly easily

Fully agreed too