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

[shahrul_azmil3]

Its fun n I believe from my community,

 

If its fun... Ppl will join in

 

Just don't break any laws here. They will penalise u for the smallest things

 

Just to make face

[Boon6600]

Why motorcycle cat got no sub cat like 2b, 2a & 2?

[MR BIKER]

Because majority of those "guys in garment" don't know how to ride because their pay so high why want to ride,just buy car.heck after buying,they have so much money,why drive,get a chaeffuer

[guangwei]

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.

 

 

Moral of the story, boycott bike dealers.

 

 

Dam suay, everytime 1 month after I sold my bike, COE JUMP NEW HIGH by like 1k.

 

2013, and now 2015.

[Hugo]

There are still people who will let shops bid for them. People who have multiple bikes and gonna need the latest Italy/Germany bikes in their stable. Go though the used bike market, there is those used barely 6 month superbikes going for sale with ridiculously low mileage. I agree with letting buyers bid but 'reasonable' is subjective, guess the common feel about 'average' price for bike COE is 4k now and that'll be the min they'll put in.

[safeins]

There are still people who will let shops bid for them. People who have multiple bikes and gonna need the latest Italy/Germany bikes in their stable. Go though the used bike market, there is those used barely 6 month superbikes going for sale with ridiculously low mileage. I agree with letting buyers bid but 'reasonable' is subjective, guess the common feel about 'average' price for bike COE is 4k now and that'll be the min they'll put in.

 

If only Buyers can bid the COE with their Singpass then the price will be more stable! For Bike dealers they will tell now is $5,504 if you want a new bike the COE is around this price or you have to pay more. So the price will keep climbing up and up! Again the number of COE is control by LTA, if the decrease number of COE issue, the price will definitely shot up! This is a number game, so which is the better department to control the price? ( like valuation of a resale HDB house, if the value goes up 20% - 50%, the selling price will definitely shot up!)

 

United is a success! If every bike buyers have come to a fix mind, like COE for bike shouldn't exceed $2k or $3K and all agreed shouldn't bid beyond the limit price, even the number of COE is lesser the price will not shot beyond the limit but will everyone do that??? If everyone will agreed, how are we going to pass the message thru, not all surf web!

 

Like I said "GRAVEYARD HOLE" is digging Deeper and Deepest! Who will suffer? The government is not to be blame, as we humans don't united! "Everyone" is selfish and only think of their own benefits and profits now, if you bid $3K , Ah Beng has the money he will bid $4k or Ah Seng has more money than Ah Beng he will bid $ 5K, latest part for bikes' distributor wants quick sale for their imported bikes will bid $6-7K just to get the monthly limited COE! Who dig who's grave? ( like contractors that bid for projects and uncut each others, once they can't sustain it they will run away or go bankrupt and leave the Sh*t behind!)

 

Best movie you should see: "Rise of the Planet of the Apes" if you can see the subtitle of what little ape Caesar told the rest is:thumb:

If you are Chinese and understand Cantonese , you should watch this: Dayo Wong talk Show 黃子華棟篤笑2012《洗燥》澳門站 he talk and about the daily life!

Edited February 9, 2015 by safe&ins

[Siphon]

unplug and be free from all these crap

[hachi]

Very simple, all potential new bike owner needs to know how to bid for COE at the ATM, 5 mins job.

Bike dealers dont really care about COE prices, they just wanna move sale out of the show room. No sale no money.

Higher COE, higher loan equal more profit.

[shahrul_azmil3]

How bout some1 set up a page to educate us how coe works?

 

How to bid? Where to bid?

 

Win the bid can keep how long?

 

The thing is most of us dont even knows how it works...

[hachi]

How bout some1 set up a page to educate us how coe works?

 

How to bid? Where to bid?

 

Win the bid can keep how long?

 

The thing is most of us dont even knows how it works...

Is quite easy, however it is also quite sensitive as there is CCTV at POSB ATM.

If I remembered correctly.

Just select other services, select bid for COE and choose the Category D.

A $1000 deposit and your bidding amount shall be compound after the bidding for the month.

Eg. you bid $100

$1100 will be compound, if you happened to bid the COE, $1000 will be returned to you when you registered the COE.

With that you must buy a bike within 6 month if not they will keep the $1000 deposit.

Likewise for cars, is $10k.

You can bid for COE, every 1st and 3rd Week of the month. Try it, anyway the admin fee is only $2 or $3.

However the system works this way, as it is open bidding, dealers can see your bid and out bid you.

That why usually you will see COE prices raised up during the last 30 mins or so.

[shahrul_azmil3]

If we lose the bid n decide not to buy

 

Will we get the $1000 deposit?

[guangwei]

Very simple, all potential new bike owner needs to know how to bid for COE at the ATM, 5 mins job.

Bike dealers dont really care about COE prices, they just wanna move sale out of the show room. No sale no money.

Higher COE, higher loan equal more profit.

 

If I buy a second hand bike from a random guy with maybe about 1 year COE left. Can I use the COE I bought on this bike? Once I used up my COE, my $1000 will be returned to me?

 

Said if I bid $200 and my bid failed, my $1000 deposit will automatically be returned to me by bank transfer?

[hachi]

If we lose the bid n decide not to buy

 

Will we get the $1000 deposit?

You lost the bid of course you can get back the $1000.

Like I mentioned, only $2-3 admin lost in this process.

[guangwei]

You lost the bid of course you can get back the $1000.

Like I mentioned, only $2-3 admin lost in this process.

 

If I won the bid, how exactly can I use the COE? I mean whats the process like? They will send me a cert to my mailbox, ask me go LTA and register a bikeplate with the COE?

[hachi]

If I buy a second hand bike from a random guy with maybe about 1 year COE left. Can I use the COE I bought on this bike? Once I used up my COE, my $1000 will be returned to me?

 

Said if I bid $200 and my bid failed, my $1000 will automatically be returned to me?

No is only for new bike. For renewal.

If you wish to keep your vehicle registered beyond its current COE expiry date, you will need to renew the COE by paying the applicable PQP for your vehicle. If the COE is not renewed by the current COE expiry date, the vehicle will be de-registered.

The PQP is the moving average of the COE prices (QPs) in the last 3 months. The PQP varies from month to month.

Please check the website for the amount applicable.

[hachi]

If I won the bid, how exactly can I use the COE? I mean whats the process like? They will send me a cert to my mailbox, ask me go LTA and register a bikeplate with the COE?

Not sure, I had never won before so I dont know.

It should be something like this I reckon.

The COE will be tagged to your name, with that use to purchase bike from shop.

But I heard the bike may be more expensive as you did not purchase the COE together.

For car i heard is difficult to purchase new car without COE as COE usually is more ex than the car itself.

[safeins]

You can bid for COE, every 1st and 3rd Week of the month. Try it, anyway the admin fee is only $2 or $3.

However the system works this way, as it is open bidding, dealers can see your bid and out bid you.

That why usually you will see COE prices raised up during the last 30 mins or so.

 

In this way COE goes up is also manipulate by DEALERS!

 

In this way if all buyers stop buying bike for a month or 2, what will the COE price be?

[hachi]

In this way COE goes up is also manipulate by DEALERS!

 

In this way if all buyers stop buying bike for a month or 2, what will the COE price be?

It should be the same, why, I mentioned earlier, within 6 months must registered for a bike.

I forsee no one will touch class cheap 2B new bike for the time being. Firstly, they are easy and cheap to repair for 2nd hand ones.

COE is more than the bike price itself.

 

As I mentioned, dealers will quote you the OTR price which includes COE. Unless the market changes which I doubt so, as bigger loan equal more commission and profit.

[kaiq]

This is why I see ppl still asking shop to bid for them. If a bike package with COE included is more "affordable" than another without COE, who will pay for the one without coe?

 

It's like I bring my own EO to bike shop to change will cost more than using the bike shop's own EO, due to "labour charge".

 

The important thing I see is not to ask all buyers to bid themselves, but to set a restriction as to how much one wish to bid. They way I see, no restriction = higher and higher coe.

 

But then, this is a free market...

 

 

 

Not sure, I had never won before so I dont know.

It should be something like this I reckon.

The COE will be tagged to your name, with that use to purchase bike from shop.

But I heard the bike may be more expensive as you did not purchase the COE together.

For car i heard is difficult to purchase new car without COE as COE usually is more ex than the car itself.

[hachi]

In fact, I would reckon if this awareness of self bidding in the biking community, we might get away with this. For eg. if 50% of the riders bid their COE, this might change how the system works.

In fact, the free market will automatically set a fair price for COE. For eg, if we think $1000 is a fair price, then dealers would not bid more than that as many are bidding around that price as that's deem to be a fair price for COE.

Of course, most riders over leveraged and only concern about monthly installments. That's when the problem starts, no matter how high the bike price, dealers just lengthen the loan tenure.

5 years loan monthly installment too high, then 7 years or even 10 years. That's another vicious cycle. Who's cares about whether COE cost $100 or $10000 at the end of the day?

Look at our garage sale, how many are looking for COI or sub ride their ride when they have over leverage and not into the option of selling back as they cannot break even the loan?

[beginner444]

Simple solution, don't buy from bike dealers, unless you are stupid and idiotic to pay the coe, buy from each other, of course i hope we all bikers can help each other by not overpricing our bikes, or are we as selfish and money minded as the bike dealers. And wait for the coe to drop as no one buys from the bike dealers.

[beginner444]

Normally when i buy from someone, i will ask how much they paid for their bike and i will factor in the depreciation, to know whether the price is reasonable.

[safeins]

Looks like the authority has to do something! For dealers they won't bid lower but to follow the exiting price or even higher and higher! If the authority dept. set a rule that dealers can't bid for COE, except buyers can bid then the price will not surge so.....high!

 

Again no second hand owners will sell low price if the COE is getting higher unless the bike or the owner has problem(s) with urgent sales! If they sell low or reasonable price the second bike the buy will be high with today COE. Like I said unless this owner has totally giveup riding bike! (This situation is Sell high buy high! Who die?)

 

If all buyers stop buying bike for a month or 2, what will the COE price be?

 

Another solutions is what "DeusExMachina" mention earlier:

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"

All buyers must United and do as above then the COE will drop!

Edited February 9, 2015 by safe&ins

[xaley]

Normally when i buy from someone, i will ask how much they paid for their bike and i will factor in the depreciation, to know whether the price is reasonable.

 

Urm...my experience is that sellers don't always tell you what price they paid. Also, sellers will consider price of current COE when selling. Just market forces at work.

[guangwei]

Looks like the authority has to do something! For dealers they won't bid lower but to follow the exiting price or even higher and higher! If the authority dept. set a rule that dealers can't bid for COE, except buyers can bid then the price will not surge so.....high!

 

Again no second hand owners will sell low price if the COE is getting higher unless the bike or the owner has problem(s) with urgent sales! If they sell low or reasonable price the second bike the buy will be high with today COE. Like I said unless this owner has totally giveup riding bike! (This situation is Sell high buy high! Who die?)

 

If all buyers stop buying bike for a month or 2, what will the COE price be?

 

Another solutions is what "DeusExMachina" mention earlier:

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"

All buyers must United and do as above then the COE will drop!

 

I'd say only a small majority of rider visit this forum.

Maybe

2% of singapore's 2b riders

10% of the class 2A riders

25% of Class 2 riders.

 

 

of the above, only 10% are 'active' on the forum n have a decent chance to stumble by this thread.

 

to make it sound simple, i guess only about 1% of all singapore riders are active in singaproebikeforum and have a decent chance to stumble upon your thread, to even consider this plan

Edited February 21, 2015 by guangwei