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Huge Drop in COE prices!

After Chinese New Year period will be the best time to buy! Sales will drop and become lacklustre.

Now people are buying because year end bonus is coming, COE is low, and also they can impress their relatives during Christmas and CNY home visits. 

 

D in rush 2 buy car, merely the syndrome of u hv I must hv, near to speculaton as well.

Yes, many said next COE will go high, but if general buying capability is low, low sales liao.

Next few COE bidding, how? Go higher? Few mths later, clearing stock action will be triggered,

then what will be the bargain? Maths A, B, C loh. 

 

It is saving penny to spend on a dollar...hmm, sir kari kena retrench how then..?.

cashiertan      ( Date: 23-Nov-2008 05:25) Posted: seriously bad time to buy liability now coz the value of 10k now will be growing much more if u invest now. the 3-5k u save from potential coe is virtual. highly not possible as i saw news that many thong to buy cars hence coe should jump next week?

 

seriously bad time to buy liability now coz the value of 10k now will be growing much more if u invest now. the 3-5k u save from potential coe is virtual. highly not possible as i saw news that many thong to buy cars hence coe should jump next week? 

 

I am going show room later.... hahaha.

Kay poh a bit. 

 

Changing a quite new car to a new car is always losing money regardless of COE amount, remember this.
Don't forget to factor in cash-back, interest etc.
Cars are quite reliable nowadays. They usually don't give problems for <10yr car, except for usual wear-tear problems which we must maintain.

Save up the money to buy equity now!!

 

save $10k and spend alot more on any other....like save a penny to.....spend on a dollar.

AK_Francis      ( Date: 21-Nov-2008 10:33) Posted: Auto centres flooded with people. Ha ha, hv not got licence, had booked Vios!!!! She must be cash rich or father a lot. he he. Hope here no one know her.

 

I think next year CNY sure a lot of gimmicks from dealers to attract more sales

 

Auto centres flooded with people.

Ha ha, hv not got licence, had booked Vios!!!! She must be cash rich

or father a lot. he he. Hope here no one know her.

 

Scotty, with COE px at this low level, you might as well get a new car 'cos 1-yr-old car may have 'faults' covered up which need expert eyes to detect. Unless you could get a good bargain for the used car, forget about it. The px of used cars must drop from now! The Used Car Dealers need cash fast to stay afloat as Banks become more and more choosy who to lend!

Annual Depreciation of cars depends on Models and Made. Luxury cars depreciate more than 'common' cars. Conti cars depreciate more than Jappy.

The current COE situation is a good example of supply and demand! Cheers!

 

I think the car sellers are averaging the cost to make profit thus next round of selling price is an average of what has been sold earlier. You will never get the complete $ 2 benefits say for example car price at $ 55K COE package at $ 5K. Base on last COE price of $ 10K suppose you get a saving of about $ 10K when COE down to $ 2 but indeed, you only get back about $ 5K, so your final price is $ 50K that is what they are selling now for $ 50K to average their cost.  

 

when COE Cat A was around $12-16k , the cost of a populated 1.6 Jan car is about $50 to 54K.

When the COE Cat A is now at $2/- , the cost of the same car is about $50k.

It does not drop proportional to the amt drop in COE.

So who gain

 

OK, if now u got COE with $2, your new car yrly depreciation is around just below 10%.

As when reaching the 10th yr, u ought to scrape d car as no one will buy it.

AK opine that at this moment, dun buy second hand car, till after CNY or even mid 09,

by then everything dirt cheap, ie houses, transport utilities, etc.

scotty      ( Date: 20-Nov-2008 21:04) Posted: I am considering  buying second hand car that is about 1 yr old. Anybody know roughly how much % depreciation after1st year? I need to calculate what is a fair price.

 

Just dun buy any auto manufacturer that says it is going to bankrupt. In case 2 year down the road face with no parts issue or high price parts due to production stop

 

I am considering  buying second hand car that is about 1 yr old. Anybody know roughly how much % depreciation after1st year?

I need to calculate what is a fair price. 

 

Confirmed car prices will drop this weekend. But more than that, it's an indication that the economy is in for a rough time....

 

I wondering did any taxi companies got the $2 coE. Sure make money. If can start a taxi company and buy all the $2 coe, can seriously complete with the Comfort / SMRT for business.

 

kelong again?.... some one is buying lots of car soon.....?

 

The last time the COE price plunged in the small car category was in 2001 when it went down to S$101. And the COE price for big cars was a fluke S$50 in 1997.

http://www.channelnewsasia.com/stories/singaporelocalnews/view/390840/1/.html

pikachu      ( Date: 19-Nov-2008 17:09) Posted: COE Open Bidding NOVEMBER 2008 2nd Open Bidding Exercise has ended on 19/11/2008 16:00 hrs BIDDING STATUS AS AT 19/11/2008 16:20 HRS Category Current COE Price ($) Quota Bids Received A Car (1600cc & below) &Taxi 2 1,851 1,852 B Car (Above 1600 cc) 4,889 1,100 1,181 C Goods Vehicle & Bus 6,189 282 368 D Motorcycle 1,012 410 512 E Open 6,889 757 1,027