COE and Car Prices

[egghead]

i found the deal rather attractive and wanted to head down to stuttguart.

but i thought deals too good to be true are usually too good to be true.

I called sg. I asked that if the car cost 235K down, after 3yrs, will I get back 235K when I handed back the car.

The reply was no.

To get the car, you need to hand in 235K cash. Then pay 788PM for maintenance/repair etc (with conditions).

At end of 3 years, u hand back the car(if they deemed that it is worth 235K, if mileage >15kPA, they cut buy back price), u don't get any cash back.

so effectively, 3yrs, they are eating the 235k cash from your downpayment!

With that, I stayed away from sg.-advertisement gimmick.

Thanks for sharing the fine prints.

[specuvestor]

i found the deal rather attractive and wanted to head down to stuttguart.

but i thought deals too good to be true are usually too good to be true.

I called sg. I asked that if the car cost 235K down, after 3yrs, will I get back 235K when I handed back the car.

The reply was no.

To get the car, you need to hand in 235K cash. Then pay 788PM for maintenance/repair etc (with conditions).

At end of 3 years, u hand back the car(if they deemed that it is worth 235K, if mileage >15kPA, they cut buy back price), u don't get any cash back.

so effectively, 3yrs, they are eating the 235k cash from your downpayment!

With that, I stayed away from sg.-advertisement gimmick.

So looks like half the car depreciated in 3 years rather than 5 years... nice

Better to drive one in some other developed countries than to own one in Singapore, the costliest car in the world.

[NTL]

No wonder "Stuttgart Auto sales manager Jason Lim said the scheme attracted more than 150 inquiries over one weekend, but the actual take-up rate was relatively low."

Basically it a con job.

[godjira1]

Actually the traditional depreciation curve of a new car is about 50pct after 3years, 75pct after 5 years. So it is probably par for the course re stuttgart's scheme.

[specuvestor]

^^ was thinking of that but it also depends on the warranty period and COE trend. Actually the scheme just revealed how much they value their own car after 3 years Bad think through in the publicity...

In any case cars are expense unless you can derive income from using it

[CityFarmer]

Not as easy as selling used-car...

Used-car dealers not jumping on car leasing bandwagon

SINGAPORE — Most used-car dealers and small motor firms Channel NewsAsia spoke to are not jumping on the car leasing bandwagon, despite bigger players getting in on the act since the authorities imposed borrowing limits on vehicle purchases.

They cite high costs of running a leasing business and unfamiliarity with how to do it as reasons.

http://www.todayonline.com/singapore/use...-bandwagon

[dividendangel]

Would like to ask for some guidance:-

if a car is being used to the end of its COE life span, how much can the owner get back at the end? (i.e. scrap the car). Is it the OMV ?

Tks.

can just use LTA website to check COE expiry date


renew 10yrs can renew again. if u renew 5 years, cannot renew.
in both cases, the parf no more..

[dividendangel]

can just use LTA website to check COE expiry date


renew 10yrs can renew again. if u renew 5 years, cannot renew.
in both cases, the parf no more..

wah this is an old thread. 2013.
now 2017 COE is a lot cheaper!
looking back in 2013 - 2014 where COE is damn ridiculously high....
now a lot more reasonable and better pricing liao
haiz. really sad for pple like me who bought car in 2014

[BlueKelah]

can just use LTA website to check COE expiry date


renew 10yrs can renew again. if u renew 5 years, cannot renew.
in both cases, the parf no more..

wah this is an old thread. 2013.
now 2017 COE is a lot cheaper!
looking back in 2013 - 2014 where COE is damn ridiculously high....
now a lot more reasonable and better pricing liao
haiz. really sad for pple like me who bought car in 2014

Looks like the private hire car co. are almost done with their fleet expansions and artificial inflation of the COE price for small cars. Next round maybe 30K?

http://www.straitstimes.com/singapore/tr...aller-cars

[The COE premium for such cars - up to 1,600cc and 130bhp - finished 16.1 per cent lower at $36,001. 
That for cars above 1,600cc or 130bhp closed 3.9 per cent lower at $49,000.]

[specuvestor]

Quota Number
 A (Cars: up to 1600cc & 97KW) 1,820 1,817
 B (Cars: above 1600cc or 97KW) 1,290 1,293
 
Bids received
 A (Cars: up to 1600cc & 97KW) 2,195 2,148
 B (Cars: above 1600cc or 97KW) 1,704 1,683

The number of bids received (ie 2195) didn't actually go down from last tender... but I guess bids were more conservative... "guess" because 1819 bids can be very high and just need bid number 1820 to bid $36,000

COE open bidding system dynamics is interesting