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

[safeins]

By looking at this thread: http://www.singaporebikes.com/forums/showthread.php/427543-Guess-COE-Result-06-May-2015-with-15-quota

 

guangwei monitor yesterday COE bid at:

Time 12:02: (4 more hours to go, still $1 with 144 biddings.)

Time 03:55: (last 5mins, only 2.5k.. hopefully stops!! )

Time 03:56: (4.9k already)

(and then 5.9k)

(ended at 6512)

 

From the above wat does it means? Is someone or a group of dealers that trying to bid higher or manipulate the bidding? The different various alot in "thousand" in the bid within a min.!

[safeins]

Warning for all bikers: Almost get a ticket from LTA at Geylang Serai Market parking at pathway!

[beginner444]

By looking at this thread: http://www.singaporebikes.com/forums/showthread.php/427543-Guess-COE-Result-06-May-2015-with-15-quota

 

guangwei monitor yesterday COE bid at:

Time 12:02: (4 more hours to go, still $1 with 144 biddings.)

Time 03:55: (last 5mins, only 2.5k.. hopefully stops!! )

Time 03:56: (4.9k already)

(and then 5.9k)

(ended at 6512)

 

From the above wat does it means? Is someone or a group of dealers that trying to bid higher or manipulate the bidding? The different various alot in "thousand" in the bid within a min.!

 

Must be a dealer lah, wonder which one? Bloody idiot

[teambhp]

Must be a dealer lah, wonder which one? Bloody idiot

Cannot blame dealers.it's buyers that are foolish enough to buy at such high prices.

[Jehuty]

Must be a dealer lah, wonder which one? Bloody idiot

 

Could be LTA.

[hachi]

Could be LTA.

 

They dont have bikes for sale....

[hachi]

By looking at this thread: http://www.singaporebikes.com/forums/showthread.php/427543-Guess-COE-Result-06-May-2015-with-15-quota

 

guangwei monitor yesterday COE bid at:

Time 12:02: (4 more hours to go, still $1 with 144 biddings.)

Time 03:55: (last 5mins, only 2.5k.. hopefully stops!! )

Time 03:56: (4.9k already)

(and then 5.9k)

(ended at 6512)

 

From the above wat does it means? Is someone or a group of dealers that trying to bid higher or manipulate the bidding? The different various alot in "thousand" in the bid within a min.!

 

Bidding for COE there are 2 different account.

One is individual another is dealer's account which can multiple bids.

If you are the dealer what will you do?

Simple, every Wednesday 1st and 3rd week of the month camp at the computer with your account.

If your department sale guys bring in 100 sale, then you need to get 100 COE. What will you do?

Remember COE is paid by customer not you or in this case dealer. What will you do then?

The prices of COE is moved by market force. LTA will tell you COE cost $1. Is the market that determine it.

When I was at stat board i am guilty of this too.

When people ask me why rental so ex, I would explained it, market force.

If there is a market for it, it would determine the price. The right price. Simple right?

[mechwira]

thats right.

 

there is no conspiracy, no shadowy hand manipulating the bidding.

 

customer go to dealer saying he want to buy this bike. dealer say COE now 6.5k, might go up to 6.7k or even 7k. you want anot? customer say ok.

 

so dealer already have a confirmed buyer even if COE go up 7k. and he know not every bidder/dealer going to get the COE. the only thing restraining him is that if the bidding go past 7k, there is a chance his customer decide don't want. otherwise, with a confirmed deal, he will go as close to 7k as he can, maybe a few hundred higher even, just to get the COE for his confirmed deal.

 

and the last minute frenzy? wats so surprising about that, it happens all the time on ebay and other e-bidding.

 

bottomline: its the dealer doing the bidding, and he bid because customers already confirmed they will pay. COE prices will stop and drop only when customers decide beyond affordability. and either way, LTA wins because if don't drop then a lot of money earn, if drop it means ppl stop buying vehicles which is the original intention of COE to control congestion. win-win.

[safeins]

That's mean people are digging their own grave by bidding higher and higher! So why put the blame on LTA or government for high price??? If everyone agreed a min(2K) - max(5K) guide line then COE won't jump so high! Not to forget your new bike there is still a GST 7% added to it.

 

Beside GST, is there a import tax for Motor bike?

[duo]

That's mean people are digging their own grave by bidding higher and higher! So why put the blame on LTA or government for high price??? If everyone agreed a min(2K) - max(5K) guide line then COE won't jump so high! Not to forget your new bike there is still a GST 7% added to it.

 

Beside GST, is there a import tax for Motor bike?

Because they want to have the latest model of bike and to them its affordable because loans can be stretched for years. Their mentality is 6512/3650 = 1.829213483146067. Less than 2 dollars per day = affordable.

[mechwira]

If everyone agreed a min(2K) - max(5K) guide line then COE won't jump so high!

 

its not going to work. its a basic concept of prices determined by demand-supply.

 

say by some miracle you convince every single buyer to insist on COE of $3k, if higher they tell dealer no deal. dealers only bid 3k because any higher customer decide dont want. will COE drop to 3k? yes.

 

but dont forget, at 3k COE, more buyers will turn up at shops because more people decide they can afford new bike. there will be more buyers than COE available. example, 300 buyers appear for the month but only 120 COE available.

 

180 buyers end up no COE even though all oso bid 3k. next round, same thing, at 3k, there will be buyers dont get COE. so now some of them decide, you know what, i think i tell dealer bid 3.5k for me; i can afford 3.5k just to confirm i get COE. those who continue to bid 3k will be the ones end up no COE.

 

at 3.5k, only 250 people can afford. still too many, only 120 COE available. again people decide, you know what, i still lose COE, maybe i tell dealer i willing to pay 4k. COE go up 4k. at that price, only 200 people can afford. but still 80 lose out.

 

you see where this is going? COE will go back to current level, because thats the price where the number of people who can afford roughly equal number of COE available. there is no escaping it, you restrict number of COE by bidding, only the richest will win.

[swoosh]

IMO, once you shut down easy loan facilities for new bikes the bubble will burst.... the bike COE will plunge.

[calebike]

IMO, once you shut down easy loan facilities for new bikes the bubble will burst.... the bike COE will plunge.

 

agreed. do like a car >50% downpayment.

[Ni3KiDz]

agreed. do like a car >50% downpayment.

 

lol this is what some ppl think. Do u know how many ppl still buying car now??

Also if really ppl are not buying is the Coe dropping??

You all are only looking from your perspective and think what u think only.

 

How the one of the PI dealer run off with a few millions?? One of the buyer down $70k for his car.

So is this system working?? Yes only those whom cannot afford will think this system will work. But to those rich ppl?? Who care!!!

So back to square one it still benefit the rich only.

Best is to live within the means or fight for the live you want.

 

 

Sent from my iPhone using Tapatalk

[calebike]

lol this is what some ppl think. Do u know how many ppl still buying car now??

Also if really ppl are not buying is the Coe dropping??

You all are only looking from your perspective and think what u think only.

 

How the one of the PI dealer run off with a few millions?? One of the buyer down $70k for his car.

So is this system working?? Yes only those whom cannot afford will think this system will work. But to those rich ppl?? Who care!!!

So back to square one it still benefit the rich only.

Best is to live within the means or fight for the live you want.

 

 

Sent from my iPhone using Tapatalk

 

number of people buying car remains the same (restricted by number of COEs). what this policy has done is skew those who are buying cars to those who can afford it. when i say afford it, i mean can afford the 50% downpayment. why do you think among the top sellers are BMW, Merc, Audi, Volks.

 

PI running away is a failure of enforcement (laws governing automobile trading), nothing to do with the implementation of the policy. sadly, agreed that all these benefits those who can afford it. my opinion is that if the COE keeps rising due to easy access to loan facilities, many who technically "cant afford it" will suffer. pay until vomit blood.

[Ni3KiDz]

number of people buying car remains the same (restricted by number of COEs). what this policy has done is skew those who are buying cars to those who can afford it. when i say afford it, i mean can afford the 50% downpayment. why do you think among the top sellers are BMW, Merc, Audi, Volks.

 

PI running away is a failure of enforcement (laws governing automobile trading), nothing to do with the implementation of the policy. sadly, agreed that all these benefits those who can afford it. my opinion is that if the COE keeps rising due to easy access to loan facilities, many who technically "cant afford it" will suffer. pay until vomit blood.

 

Fyi why I quote that is to let u know that there are ALOT OF PPL who still can easily pay for the 50% down payment for car.

 

Bike also even if u implement this rule. How many ppl now buying bikes with min down??

I saw a lot of ppl full cash out the bike or min loan as enforce by the bike shop.

 

Also Fyi all bike shop have own financial support for loan. I do not see any bike shop without yet.

 

 

Sent from my iPhone using Tapatalk

[safeins]

IMO, once you shut down easy loan facilities for new bikes the bubble will burst.... the bike COE will plunge.

 

Dun have to shut down easy loan, BANK INTEREST & Down Payment Goes UP people will slow down or stop buying! Worst is those lost their job and income drop can't pay further installments, then good luck to them!

 

So if you want to see COE goes down. Best is, the economy goes down, shares goes down or economy crisis! So ppl lost their job, lost their money, companies close down then COE will goes down! Like some said in Chinese got money don't know where to spend "back side itchy"! Buy first don't care later what will happen!

Edited May 12, 2015 by safe&ins

[safeins]

its not going to work. its a basic concept of prices determined by demand-supply.

 

say by some miracle you convince every single buyer to insist on COE of $3k, if higher they tell dealer no deal. dealers only bid 3k because any higher customer decide dont want. will COE drop to 3k? yes.

 

but dont forget, at 3k COE, more buyers will turn up at shops because more people decide they can afford new bike. there will be more buyers than COE available. example, 300 buyers appear for the month but only 120 COE available.

 

180 buyers end up no COE even though all oso bid 3k. next round, same thing, at 3k, there will be buyers dont get COE. so now some of them decide, you know what, i think i tell dealer bid 3.5k for me; i can afford 3.5k just to confirm i get COE. those who continue to bid 3k will be the ones end up no COE.

 

at 3.5k, only 250 people can afford. still too many, only 120 COE available. again people decide, you know what, i still lose COE, maybe i tell dealer i willing to pay 4k. COE go up 4k. at that price, only 200 people can afford. but still 80 lose out.

 

you see where this is going? COE will go back to current level, because thats the price where the number of people who can afford roughly equal number of COE available. there is no escaping it, you restrict number of COE by bidding, only the richest will win.

 

 

These are human nature, pocket got money unreasonable price also pay or bid higher or higher. Once they lost in business, job or income, sell and sell and blame and blame!

 

 

The LTA COE bid start $1. They will blame and laugh at you guys are stupid to bid higher and higher. Is not their fault wat!

[safeins]

When I was at stat board i am guilty of this too.

When people ask me why rental so ex, I would explained it, market force.

If there is a market for it, it would determine the price. The right price. Simple right?

 

I agreed! like now in Jurong East houses, agent are try push up the price! We started to received SMS to invest the house there as Gov is goes to build the High Speed Rail there!

Again this is out of topic, like HDB houses if certain area they wanted to push up the price. The valuation of the house there will be higher then others, so the selling price will eventually goes up!

[hachi]

thats right.

 

 

 

bottomline: its the dealer doing the bidding, and he bid because customers already confirmed they will pay. COE prices will stop and drop only when customers decide beyond affordability. and either way, LTA wins because if don't drop then a lot of money earn, if drop it means ppl stop buying vehicles which is the original intention of COE to control congestion. win-win.

 

I fully agreed with you, no matter what's the price of COE, they can package the deal for affordable and everyone is enthralled with his model. How many times yo u have seen in garage sale where people over leveraged their procession and encourage another party to take over what they have committed? Of course this comes at a risk. Well, until this is not sustainable, there will be people who crave for the latest or the newest toys in the showroom.

With this model, policy makers could just sit there and explained it is due to market force. The market will determine the correct price based on the current economic climate, situation and etc.

Rental, price of housing and what ever you can think off in the resources limited country are based on this model.

[hachi]

These are human nature, pocket got money unreasonable price also pay or bid higher or higher. Once they lost in business, job or income, sell and sell and blame and blame!

 

 

The LTA COE bid start $1. They will blame and laugh at you guys are stupid to bid higher and higher. Is not their fault wat!

 

Well there are people who believes if they vote for another party this would change? I believe they are the ones who will received the most impact when the tide changes. For the past few years, we have live on over leverage, it should be interesting when the times comes again where people are caught in that situation.

Who to blame, the poor gov again.Lol.

[hachi]

I agreed! like now in Jurong East houses, agent are try push up the price! We started to received SMS to invest the house there as Gov is goes to build the High Speed Rail there!

Again this is out of topic, like HDB houses if certain area they wanted to push up the price. The valuation of the house there will be higher then others, so the selling price will eventually goes up!

Well, based on the current political climate in MY, I am quite skeptical on the completion of this high speed rail way that links us to KL. Mark my words in the next 10 years it should not happen. Link to some other parts, yes, to KL, well.....Unless they can turn off the light and make the track appear right in front of us. They have enough internal problems and how much of the investment will go into the pockets of you know who?

 

Just look at the questionable MY state-owned investment company that is mired in US$11 billion (S$15 billion) of debt and has been hit by numerous reports of alleged fraud and questions over the whereabouts of hundreds of millions of dollars. I dont know, our investment might go down the drain, but for the benefits of both countries this is essential.

[swoosh]

Dun have to shut down easy loan, BANK INTEREST & Down Payment Goes UP people will slow down or stop buying! Worst is those lost their job and income drop can't pay further installments, then good luck to them!

 

So if you want to see COE goes down. Best is, the economy goes down, shares goes down or economy crisis! So ppl lost their job, lost their money, companies close down then COE will goes down! Like some said in Chinese got money don't know where to spend "back side itchy"! Buy first don't care later what will happen!

 

yes, you are right! I do not want to pen this in because this one scenario all of us do NOT want to see. Of late, there are new market players who has enter the bike market. For new bikes, they offered long instalment plans at 4 percent to 5 percent interest rate and low deposit . If you have few thousands to spare and can provide names for guarantor, you can easily "afford " a new bike. These buyers could never secure loans if they are buy used bike from pte sellers and they will find senseless to loan at interest rate 10 to 13 percent interest.

Edited May 13, 2015 by swoosh

[safeins]

Well, based on the current political climate in MY, I am quite skeptical on the completion of this high speed rail way that links us to KL. Mark my words in the next 10 years it should not happen. Link to some other parts, yes, to KL, well.....Unless they can turn off the light and make the track appear right in front of us. They have enough internal problems and how much of the investment will go into the pockets of you know who?

 

Just look at the questionable MY state-owned investment company that is mired in US$11 billion (S$15 billion) of debt and has been hit by numerous reports of alleged fraud and questions over the whereabouts of hundreds of millions of dollars. I dont know, our investment might go down the drain, but for the benefits of both countries this is essential.

 

 

Whether this plan success a not we can see hopeful but the housing market already being stir higher of even highest at Jurong East before things is out! If happened not success then to to be blame ??????

[xliams]

How do we know that the COE pricing is not rigged? We all know how it works. But has anyone validated it?