Latest Feb 2015 COE $5,540 that made the lower and middle income suffer more!

[safeins]

I saw the news last nite and was again shock with and increase of COE at $5,504.00! I had downgrade my transport from a car to a van and now a scooter for my daily needs due to lesser income to travel places that MRT and buses CAN'T reach in Singapore.The cost of living here is getting unnecessary high or highest for a low or middle income person to covered it! I was wondering why from a $1,500 to $1,700 COE that was 1.5 years ago can jump up to this ridiculous high, will these kill the Lower and Middle income person that need a transport and push them down the cliff!

 

I'm about 50 and meeting end meet for a family is a problems with the unnecessary "HIGH COST OF LIVING HERE IN SINGAPORE" and low income, initially when I bought a second hand scooter COE was around $1,500 to $1,700 which I think is reasonable as even if I keep the scooter for another 10 years and renew my COE is around $2,000 if it increase. But now it has jump 3 times or more and by the time I renew it it may be 4 or 5 or 6 times more??????? Are they pushing too.... much? I'm think earning a living is so.... hard in Singapore to covered the unnecessary high cost increase, can the people survive or end up loosing hope, what will happen next?

 

Look around our Singapore roads is there many motorcycle traveling around? Why the COE is so... HIGH? Will the COE be around $10,000 or more by 2 years time from now? If the government wants to control the increase of vehicles in Singapore they should NOT let any vehicles that is more then 20 years to renew the COE or every family should restrict to 1 transport with concession COE, the second vehicle from the same family with the same address should pay a higher COE, ERP, Road tax, Insurance and Carpark price!

 

I was wondering how our future children going to living here? Work and work every day and night with low income for unnecessary high cost of living till they are 70 to 80 ..... Is your money enough to cover the High cost of living here or you have to work and work to cover high daily expenses?

 

God bless Singapore!

Edited February 6, 2015 by safe&ins
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[choonie]

Taken aback by the new coe price too...oh well, can't do anything either since we're living in sillypore.

[virux]

This is insane!!! 55xxx

[choonie]

2nd hand bike sellers are happy now:p

[safeins]

2nd hand bike sellers are happy now:p

 

Dun be happy, sell high buy high or higher unless you dun need a transport any more!

Who will benefit living here, is like the "GRAVEYARD HOLE" is digging Deeper and Deepest! Who will suffer?

Edited February 5, 2015 by safe&ins

[ahwei-89]

There is still a choice. Vote wisely to prevent further disappointment. =)

[MR BIKER]

Safebin, your exasperation has been voiced out by many forumers here in many other topics.

1) you asked how come price increased . many factors involved. first motorcycle coe are allocated very very very little by our esteemed knowledgeable authority compared to cars and other vehicles. second, many old , old motorcycles renewed their coe long ago a few years back so not many coes left. worse many and many people renew their bikes for 5 years only. so i expect in the next 3,4 ,5 years many bikes will be completely scrapped. hopefully by that time, coe price will reduced.one thing i dont understand, will coe that are not taken be converted to car coe??

2)as long as its money in their banks, whoever can afford vehicles just pay coe.

3) not too sure if any other people in power beside "THEM" will also implement this . but whatever it is MONEY is in the mind.

[safeins]

expect in the next 3,4 ,5 years many bikes will be completely scrapped. hopefully by that time, coe price will reduced.

 

Look at existing for lower or middle income, who really need a low cost vehicle to earn a living or as a basic transport is important! Wait till 3, 4 ,5 years, COE reduced??? I don't have high hope, things that gone up will never comes down so easily!

 

Without Prejudice: Maybe now I can see why there is so many Malaysia bikes using our road here working for fast food ...etc. and Singaporean lower income with bikes will have to stand aside as we pay for high cost expenses(living) here, what you earn can easily been eaten up daily, weekly, monthly or yearly! Sad to see these happened!

[twitty]

Motorbike coe is ridiculously and rubbish. The bike coe doesnt really service the purpose of traffic control, since when bikes choke up traffic flow? All these outdated policies are used to allowed government to manipulate their revenue and hurting its own people daily life. They are no longer serving the public, what public servant....they are calling themselves phew. really hope the election comes soon....a change is really needed.

[safeins]

Like I mention earlier:

things that gone up will never comes down so easily!

"GRAVEYARD HOLE" is digging Deeper and Deepest! Who will suffer?

 

$1,500 to $1,700 COE that was 1.5 years ago Now $5,504.00 how many times more? Did your salary increase that fast or if you are doing small business can your bowl of noodle increase price that fast!

Edited February 5, 2015 by safe&ins

[Boon6600]

People kia shu so mati mati must bid higher, see the last few minutes to closing time at 4 pm, the COE from $1/-, shoot up to afew thousand dollars.

[Alpacino]

1999 when i renew coe for my bike is $980 , it alredy high for me....

 

 

Sent from my iPhone using Tapatalk

[Limsteel]

Authority wants all to take public transport, but must understand that many places no proper transport link...

 

Like my "somebody" stay SengKang, planning to work CCK there is no efficient bus service. Daily need 2hrs public transport, 4hrs on the road and worst mostly packed, and need to stand... Cant even take a nap. So decided not to take the job

[duo]

It keeps going up because the people in Parliament does not ride nor are they affected by the COE. Highest COE I paid was 800+. It was already high for me.

[safeins]

BTW What is the actual normal basic bike cost?

[MR BIKER]

Bikes generally DO NOT cause jam on our roads. But woodland and Tuas checkpoint. Who are they??? If you look at other countries, a say Honda Silverwing 400 cost about S$9000. ok lah factor in import tax 1k . so by right it should cost 10k. but because of our coe and incredible interest, most people when buying that bike after 5years, will cost them almost $20k. so many owner after owning 2 year after buying brand new will sell it at around $18-19k.

SO imagine a class 2b bike. should cost only 8k now will be around 13k.

ITS SO DAMN STUPID. i hope all the despatch riders and uncle will know what todo in 2016

[DeusExMachina]

Right now the COE prices are a direct effect of the car and bike dealers putting in stupid and desperate bids to secure their sales. No doubt that the Govt has a hand in influencing the prices by playing with the supply against the demand.

 

When you purchase a vehicle, you sign that contract and put down the deposit. The dealer then tells you that he will factor in a certain amount as the COE. That amount is probably based on the average value in the last couple of month. If it was 900, then 1300, he'll prob put in 1K. Right now, with the COEs in the 4000 to 5000 region, a dealer will price it at 5K average. Then he'll place his bid anyway. If you get the COE under 5K, he'll refund you the difference. If over, you top up the diff. Then you settle your DP.

 

Thing is, the dealers and their salesmen want to make the sale, and will be willing to place stupidly high bids just to close the deal. YOU are the sucker. The dealers are the one inflating the COE premium because of their panic bidding response to supply being cut. That was what happened a few months back when LTA cut the supply by 25%. They bid higher, wanting to make sure they got the COE to cover their sales. It's not going down because the average value has gone up. Unless you get a fluke situation where there are less bids than the actual supply, and some lucky mofo puts a bid of $1.

 

So who to blame for high COEs? Put simply. Bike dealers.

 

Why don't the ppl who're buying bikes here start telling the dealers "I'm only willing to pay COE $1K max. Any more, fcuk the deal." Don't sign on the sales contract unless they add that in writing.

 

 

At this point, some of you will be thinking... "But COE goes to Govt. The dealers don't get the 5.5K what....."

 

Yes, and no. You ALWAYS have a downpayment you're willing to pay. Let's say 5K on a 16K bike (not incl COE).

If the COE is at 1K, then the total price will be 17K (insurance let's not include yet ok?)

You DP 5K, and your loan quantum will be 12K.

 

Now if the COE was at 5K, the bike is gonna be 21K in all. Your loan quantum: 16K.

 

The Govt gets the 5K, but the shop/finance is gonna get the interest out of that because you took a larger loan.

So who says that they don't earn more from higher COEs??

 

 

The Govt has got to disallow dealers from bidding for COEs. Make the buyers log into the system themselves and place the bid instead. Only then will COE premiums start to fall. Because as buyers ourselves, we will not place stupid bids. The dealers don't give a crap about us. They're just interested in the sale. And you, the buyers, have to tell them "Fcuk off"

 

When you go out to buy a new bike today, or tomorrow. Go ahead and tell your dealer "I only want to bid COE max 1K, or else I'm not signing"

See what they say. If everyone does it, see how the COE goes.

[MR BIKER]

Right now the COE prices are a direct effect of the car and bike dealers putting in stupid and desperate bids to secure their sales. No doubt that the Govt has a hand in influencing the prices by playing with the supply against the demand.

 

When you purchase a vehicle, you sign that contract and put down the deposit. The dealer then tells you that he will factor in a certain amount as the COE. That amount is probably based on the average value in the last couple of month. If it was 900, then 1300, he'll prob put in 1K. Right now, with the COEs in the 4000 to 5000 region, a dealer will price it at 5K average. Then he'll place his bid anyway. If you get the COE under 5K, he'll refund you the difference. If over, you top up the diff. Then you settle your DP.

 

Thing is, the dealers and their salesmen want to make the sale, and will be willing to place stupidly high bids just to close the deal. YOU are the sucker. The dealers are the one inflating the COE premium because of their panic bidding response to supply being cut. That was what happened a few months back when LTA cut the supply by 25%. They bid higher, wanting to make sure they got the COE to cover their sales. It's not going down because the average value has gone up. Unless you get a fluke situation where there are less bids than the actual supply, and some lucky mofo puts a bid of $1.

 

So who to blame for high COEs? Put simply. Bike dealers.

 

Why don't the ppl who're buying bikes here start telling the dealers "I'm only willing to pay COE $1K max. Any more, fcuk the deal." Don't sign on the sales contract unless they add that in writing.

 

 

At this point, some of you will be thinking... "But COE goes to Govt. The dealers don't get the 5.5K what....."

 

Yes, and no. You ALWAYS have a downpayment you're willing to pay. Let's say 5K on a 16K bike (not incl COE).

If the COE is at 1K, then the total price will be 17K (insurance let's not include yet ok?)

You DP 5K, and your loan quantum will be 12K.

 

Now if the COE was at 5K, the bike is gonna be 21K in all. Your loan quantum: 16K.

 

The Govt gets the 5K, but the shop/finance is gonna get the interest out of that because you took a larger loan.

So who says that they don't earn more from higher COEs??

 

 

The Govt has got to disallow dealers from bidding for COEs. Make the buyers log into the system themselves and place the bid instead. Only then will COE premiums start to fall. Because as buyers ourselves, we will not place stupid bids. The dealers don't give a crap about us. They're just interested in the sale. And you, the buyers, have to tell them "Fcuk off"

 

When you go out to buy a new bike today, or tomorrow. Go ahead and tell your dealer "I only want to bid COE max 1K, or else I'm not signing"

See what they say. If everyone does it, see how the COE goes.

 

:thumb: DEALERS :

[kaiq]

Agree. We need to stop the mentality of "must have a bike tomorrow" - just get a second hand bike from the open market...

[duo]

Right now the COE prices are a direct effect of the car and bike dealers putting in stupid and desperate bids to secure their sales. No doubt that the Govt has a hand in influencing the prices by playing with the supply against the demand.

 

When you purchase a vehicle, you sign that contract and put down the deposit. The dealer then tells you that he will factor in a certain amount as the COE. That amount is probably based on the average value in the last couple of month. If it was 900, then 1300, he'll prob put in 1K. Right now, with the COEs in the 4000 to 5000 region, a dealer will price it at 5K average. Then he'll place his bid anyway. If you get the COE under 5K, he'll refund you the difference. If over, you top up the diff. Then you settle your DP.

 

Thing is, the dealers and their salesmen want to make the sale, and will be willing to place stupidly high bids just to close the deal. YOU are the sucker. The dealers are the one inflating the COE premium because of their panic bidding response to supply being cut. That was what happened a few months back when LTA cut the supply by 25%. They bid higher, wanting to make sure they got the COE to cover their sales. It's not going down because the average value has gone up. Unless you get a fluke situation where there are less bids than the actual supply, and some lucky mofo puts a bid of $1.

 

So who to blame for high COEs? Put simply. Bike dealers.

 

Why don't the ppl who're buying bikes here start telling the dealers "I'm only willing to pay COE $1K max. Any more, fcuk the deal." Don't sign on the sales contract unless they add that in writing.

 

 

At this point, some of you will be thinking... "But COE goes to Govt. The dealers don't get the 5.5K what....."

 

Yes, and no. You ALWAYS have a downpayment you're willing to pay. Let's say 5K on a 16K bike (not incl COE).

If the COE is at 1K, then the total price will be 17K (insurance let's not include yet ok?)

You DP 5K, and your loan quantum will be 12K.

 

Now if the COE was at 5K, the bike is gonna be 21K in all. Your loan quantum: 16K.

 

The Govt gets the 5K, but the shop/finance is gonna get the interest out of that because you took a larger loan.

So who says that they don't earn more from higher COEs??

 

 

The Govt has got to disallow dealers from bidding for COEs. Make the buyers log into the system themselves and place the bid instead. Only then will COE premiums start to fall. Because as buyers ourselves, we will not place stupid bids. The dealers don't give a crap about us. They're just interested in the sale. And you, the buyers, have to tell them "Fcuk off"

 

When you go out to buy a new bike today, or tomorrow. Go ahead and tell your dealer "I only want to bid COE max 1K, or else I'm not signing"

See what they say. If everyone does it, see how the COE goes.

Will keep that in mind.

[safeins]

I don't think a very basic 2B bike will cost more then today COE at $5,504.00!

For those who need a basic bike are basically those lower income family, these are people who will suffer from unnecessary HIGH COE!:cry:

Buying a second hand bike is also high if COE price is higher each time unless the COE drop real low!

I full agreed the buyer should do the bidding of COE themselves instead of let the Car or bike dealers do it as they don't bother how high the COE goes, buyers and those renew COE is paying for it! Who cares!

There should have a SOLUTION(s) for COE if they want to do it but we are not the Authority to decide.

Edited February 7, 2015 by safe&ins
COE amount is $5,504 now NOT &5,540.00

[Jehuty]

According to the PAP and its goons, COE is supposed to control congestion, so to satisfy that statement, why not a monthly 'Congest the road' where all participating bikers don't filter, don't share lanes, just act like a car, we paying for congestion might as well cause it, no?

 

Or you can always migrate, looking at Singapore, if people don't get their **** together, the poor will get poorer, the rich will get richer, hell most people living in condos aren't even Singaporean.

[Jehuty]

I don't think a very basic 2B bike will cost more then today COE at $5,540.00!

For those who need a basic bike are basically those lower income family, these are people who will suffer from unnecessary HIGH COE!:cry:

Buying a second hand bike is also high if COE price is higher each time unless the COE drop real low!

I full agreed the buyer should do the bidding of COE themselves instead of let the Car or bike dealers do it as they don't bother how high the COE goes, buyers and those renew COE is paying for it! Who cares!

There should have a SOLUTION(s) for COE if they want to do it but we are not the Authority to decide.

 

Actually bike shops do earn from COE, car shops too, they earn it from interests.

[safeins]

Actually bike shops do earn from COE, car shops too, they earn it from interests.

 

If buyers can do their bidding themselves, they will feel the pinch if they keep bidding higher and higher, normally as a buyer won't not wish to pay high price for COE unless they are not the genuine one! Who wants to pay more and more? Anyone? Everyone will have a limit for what they pay but not over paid for a 10 years COE!

 

For example: if I paid my COE now is $500.00 the next 10 years I only expect $1k to 1.5K but I will not more than $5,000.00. BTW I bought my second hand bike on end 2013 COE is $1,700 but today early 2015 is $5,504.00 is that too much and my COE is going to expire soon! I had check 2003 end COE is only around $200 to $221 to now $5, 504.00!

 

(IF I use 5504 divide by average 221 is X 24.90 more! Do we have our income increase 2 to 3 times more?)

 

How can we tell from the COE bid is from buyers, dealers or ???? Can anyone advise or any indication during the bid from the web shows is from buyer/dealer/???

 

Since 1990: Reference on how much the COE goes up up up! http://tralvex.com/pub/cars/coe.htm

Edited February 7, 2015 by safe&ins

[duo]

According to the PAP and its goons, COE is supposed to control congestion, so to satisfy that statement, why not a monthly 'Congest the road' where all participating bikers don't filter, don't share lanes, just act like a car, we paying for congestion might as well cause it, no?

 

Or you can always migrate, looking at Singapore, if people don't get their **** together, the poor will get poorer, the rich will get richer, hell most people living in condos aren't even Singaporean.

Monthly congest the road? Been thinking about that for quite some time. Problem is will all the riders be united and do so? If this happens I am in.