COE sky high. Time to prowl the 2nd hand car market?

[Solidgold]

The recent spike in COE prices make it more difficult to buying new cars. At nearing 50k, it will be higher then OMV of continental cars (eg. BMW, Audi, etc). COE may even double that of Japanese or Korean cars' OMV.

When I look at the used car market, there seem to be a bigger gap between new cars and used ones now then in the past. How closely does the Used car market follow the new cars prices? Spoke to a few SRs who claim that they are seeing a slow down despite COE prices going up. You don't see people rushing to the agent showrooms with cheques. So are these agents bidding and hoarding COE certs in anticipation of greater demand in the coming months?

I thought a better indication of whether people are not convinced with the current new car prices is to take a look at the used car market and how fast these cars sit on the "shelf". At some point, folks will upgrade or change lifestyle etc...so either they go buy new ones or get from used market. Any bros out there see an uptake in this segment?

 

[pengful]

Re: COE sky high. Time to prowl the 2nd hand car market?

The recent spike in COE prices make it more difficult to buying new cars. At nearing 50k, it will be higher then OMV of continental cars (eg. BMW, Audi, etc). COE may even double that of Japanese or Korean cars' OMV.

When I look at the used car market, there seem to be a bigger gap between new cars and used ones now then in the past. How closely does the Used car market follow the new cars prices? Spoke to a few SRs who claim that they are seeing a slow down despite COE prices going up. You don't see people rushing to the agent showrooms with cheques. So are these agents bidding and hoarding COE certs in anticipation of greater demand in the coming months?

I thought a better indication of whether people are not convinced with the current new car prices is to take a look at the used car market and how fast these cars sit on the "shelf". At some point, folks will upgrade or change lifestyle etc...so either they go buy new ones or get from used market. Any bros out there see an uptake in this segment?

Yeah crazy COE prices. I suggest you stick to your Bus 11.

 

[Terry]

Re: COE sky high. Time to prowl the 2nd hand car market?

Curb the car loan percentage and duration .. That will be more effective..

 

[wt_know]

Re: COE sky high. Time to prowl the 2nd hand car market?

the sky high coe has temporarily stopped the 3 years urge to change car (itchy backside when warranty is over) ..... hehe
i must drive my little san-er-ling for 10 years liao !

 

[etan1]

Re: COE sky high. Time to prowl the 2nd hand car market?

If and when COE drops, the rush to de-register in favor of new cars will start... Cyclical.

 

[Ahbengdriver]

Re: COE sky high. Time to prowl the 2nd hand car market?

COE high is good. Dont we know lesser small-zhng cars on the road? I think COE should go to $60k to keep car population healthy.

 

[benlopan]

Re: COE sky high. Time to prowl the 2nd hand car market?

coe so high already, time to adjust erp rates or better still, do away with it................

 

[Ahbengdriver]

Re: COE sky high. Time to prowl the 2nd hand car market?

coe so high already, time to adjust erp rates or better still, do away with it................

COE and ERP will still up, until the GPS ERP system kicks in. My sources say one.

And by then 50% SGreans will be screwed left right centre and doggie, bcos they are stuck with their cars:shhhh:

 

[ac323]

Re: COE sky high. Time to prowl the 2nd hand car market?

COE high is good. Dont we know lesser small-zhng cars on the road? I think COE should go to $60k to keep car population healthy.

should be a 10 year cycle thingy.......last high COE was in year 2000.......S$50k to 55k




* maybe before GE it may drops.....
cheers

 

[dantito]

Re: COE sky high. Time to prowl the 2nd hand car market?

it will be scarier in the future.. only the rich would be able to afford then... our transport system is very very accessible.. and SG simply has TOO MANY cars! haha 8)

 

[iDrive]

Re: COE sky high. Time to prowl the 2nd hand car market?

Hi All,

I came across a E60 thats manufactured in 2008 (04/2008 according to BMW Baureihenarchiv - BMW Vehicle Identification Number Decoder | bmwarchiv.de) but it was only registered in Dec 2009. Should I be concerned? Still under warranty by PML though.

 

[ac323]

Re: COE sky high. Time to prowl the 2nd hand car market?

Hi All,

I came across a E60 thats manufactured in 2008 (04/2008 according to BMW Baureihenarchiv - BMW Vehicle Identification Number Decoder | bmwarchiv.de) but it was only registered in Dec 2009. Should I be concerned? Still under warranty by PML though.

Hi iDrive,

Probably MY 08 but only registerred the ride in Dec 09..............
maybe you can check with PML on this matter...



cheers

 

[leebmer]

Re: COE sky high. Time to prowl the 2nd hand car market?

should be a 10 year cycle thingy.......last high COE was in year 2000.......S$50k to 55k

in year 2000, average COE (above 1600cc) was $38k, vehicle population was 693k...

in year 2010, COE hit $48k in Nov (above 1600cc), vehicle population (at of Sep) was 941k...

it should be sky high COE going foward as vehicle population has reached limit...

 

[ktnpl]

Re: COE sky high. Time to prowl the 2nd hand car market?

in year 2000, average COE (above 1600cc) was $38k, vehicle population was 693k...

in year 2010, COE hit $48k in Nov (above 1600cc), vehicle population (at of Sep) was 941k...

it should be sky high COE going foward as vehicle population has reached limit...

The decision to allow 3% growth a year was a mistake. Just like the effect of compounded interest, the base grew rapidly. Now that they have realised the mistake, the growth rate has been revised downwards to 1.5%. But looking at the traffic congestion on our roads, I think it should be progressively revised to -1.5%.

 

[leebmer]

Re: COE sky high. Time to prowl the 2nd hand car market?

The decision to allow 3% growth a year was a mistake. Just like the effect of compounded interest, the base grew rapidly. Now that they have realised the mistake, the growth rate has been revised downwards to 1.5%. But looking at the traffic congestion on our roads, I think it should be progressively revised to -1.5%.

i think they are looking keep the numbers at 1million (let's see what happens in 2011)...so no cure for traffic congestion unless the satellite pricing is able to charge exotically (like more than $20 per journey)...this might change many drivers' behaviour to drive only during off peak...

 

[longhorn]

Re: COE sky high. Time to prowl the 2nd hand car market?

The decision to allow 3% growth a year was a mistake. Just like the effect of compounded interest, the base grew rapidly. Now that they have realised the mistake, the growth rate has been revised downwards to 1.5%. But looking at the traffic congestion on our roads, I think it should be progressively revised to -1.5%.

Firstly IMHO, 3% was not the problem. The problem was, it WAS NOT 3%..!!! Figures from onemotoring, passenger car (excl bus, goods vehicle, bikes, etc) population in Spore in year:
2004 : 417,103
2009: 576,988
That is a compounded annual growth rate of 6.7%!!!

Secondly, what made us so sure they made a mistake? I can understand if they made a mistake predicting the weather. But car numbers where they have every avail statistic at their fingertips???? Hint : think Spore human population.....

 

[ktnpl]

Re: COE sky high. Time to prowl the 2nd hand car market?

The population squeeze is itself a major bugbear. Despite the high economic growth figures, the quality of life has been deteriorating. It could be just me, but I hate crowded roads and streets day in and day out.

Another miscalculation is the use of growth in road space to justify vehicle growth. There are many roads that have been added which does little to relieve the traffic congestion. Serangoon viaduct is one example. Finally they are widening the arterial roads such as PIE and CTE. Well, better late then never.

 

[golfgti]

Re: COE sky high. Time to prowl the 2nd hand car market?

the problem is not just LTA, the MRT system is highly undeveloped compared to the land zone planning.

In order to solve congestion, we need ALOT more MRT stations than existing like london, HK, paris where theres a stop every other corner.

the problem was that it took MRT so farking long to decide where to build wat station that the excavation costs now is the major problem preventing them buidling more stations. So many new shopping centres & buildings but the underground MRT tunnelling system is not catching up with wats happening above. So now when they try to buildt more stations, the costs is super high...

URA town planning is very well done, but how come the MRT planning is so far back? We should the MND why they have failed on this part. Look at the farrer rd MRT construction... caused so many jams for so damn long but fianlly seems to have finished... just in time for CApitaland to launch their D'Leedon... TLCs working in hand garmen bodies? seems like so... but not enough MRT stations!

 

[iDrive]

Re: COE sky high. Time to prowl the 2nd hand car market?

Hi iDrive,

Probably MY 08 but only registerred the ride in Dec 09..............
maybe you can check with PML on this matter...



cheers

Thanks ac323! But I don't own the car yet, will PML entertain me? Any idea what I should be telling them? Oh and please feel free to pm me instead as my question might be going slightly off topic oledi... apologies to the TS for this - dun seem to be able to start my own thread yet.