COE Prices worrying

[abbby]

It's a worrying trend...something should be done to curb these high COE prices. How could the COE 'value' be more than the worth of a car?

https://www.channelnewsasia.com/singapo ... rt-3845991

[malcontent]

It’s not worrying to me. I have personally never owned a vehicle during my 2.5 decades living here, despite being a former car enthusiast. I lost all interest in car ownership after seeing the ridiculous prices. I am perfectly content taking public transport — driving here is not a pleasure anyway. I know this for fact because my wife owns a car which I drive on occasion, and the number of inconsiderate jerks on roads here is greater than the number of nice ones.

For anyone that feels they absolutely have to own a car… pick another country. Driving in Malaysia (for example) is far more pleasurable than here, and the local branded vehicles are every bit as affordable as any other country, despite what it might be lacking in quality, fit and finish.

[sundaymorningstaple]

It's a worrying trend...something should be done to curb these high COE prices. How could the COE 'value' be more than the worth of a car?

https://www.channelnewsasia.com/singapo ... rt-3845991

Only one word is needed in Singapore.......

F A C E

[sundaymorningstaple]

It peaked at 104K in August & September of 1994. in todays dollars it would be around 150K today so this is nothing new. Like Mal, I bailed out of the vehicle ownership market 6 months after the COE system first started (kept both of them until the 6 month grace period was up to get a COE for my old pre-COV cars). At that time (Aug~Sep 94) the moan was that it cost more to buy a Toyota Corolla than a 3 room resale HDB flat.

[midlet2013]

It peaked at 104K in August & September of 1994. in todays dollars it would be around 150K today so this is nothing new. Like Mal, I bailed out of the vehicle ownership market 6 months after the COE system first started (kept both of them until the 6 month grace period was up to get a COE for my old pre-COV cars). At that time (Aug~Sep 94) the moan was that it cost more to buy a Toyota Corolla than a 3 room resale HDB flat.

Given the cyclical pattern , did you ever consider buying a car at lower coe and selling it when coe was higher.

If you read the article which OP posted, it states a bunch of reason why people buy cars. Not just one reason.

[tiktok]

Having a car is convenient, especially if you have kids or dogs. But absolutely not worth the price now.

The fact that Mercedes is the top selling brand tells you the main reason behind car ownership - status signalling.

[sundaymorningstaple]

Having a car is convenient, especially if you have kids or dogs. But absolutely not worth the price now.

The fact that Mercedes is the top selling brand tells you the main reason behind car ownership - status signalling.

Bloody 'ell! We actually agree on something! LOL

[NYY1]

Having a car is convenient, especially if you have kids or dogs. But absolutely not worth the price now.

The fact that Mercedes is the top selling brand tells you the main reason behind car ownership - status signalling.

Or, a lot of people that have a car can just afford it (a Mercedes or whatnot) like buying a litre of milk. Car ownership here is hardly random. Suggest people look at what happens to scarce or severely supply constrained assets when what's happening here happens.

But yes, many things here and everywhere are about status. I always laugh when I see people that need to tell you about this or that, and then complain about costs. Truly hilarious.

As for convenient, it probably depends on a lot of things. Generally, it will probably help for young kids and/or old adults that need to move around a lot. You can also substitute convenient housing for transportation (or vice versa). Of course, many people get by without a vehicle despite some claiming it would be impossible.

[malcontent]

Having a car is convenient, especially if you have kids or dogs. But absolutely not worth the price now.

The fact that Mercedes is the top selling brand tells you the main reason behind car ownership - status signalling.

Bloody 'ell! We actually agree on something! LOL

I was thinking the exact same thing, I had look up and see if the planets had aligned or what other freakishly rare phenomena had taken place and caused this supernatural event.

[PNGMK]

I think we will see a move by LTA to split off PHV car fleet owners from the main stream COE bidders. I know a CEO of a car leasing company who was bidding for 60 COE's at a time last year.

[JWNYsg]

I personally do not own a car

I symphatise with the situation for families or someone who maybe has to ferry someone with mobility issues but using taxi could be cheaper in the long run

[jalanjalan]

I see a lot of PMA "family vehicles" plying the sidewalks these days. Perhaps this is our future.

[Pal]

I think we will see a move by LTA to split off PHV car fleet owners from the main stream COE bidders. I know a CEO of a car leasing company who was bidding for 60 COE's at a time last year.

This is the reason for the ever increasing COE prices.

The public is calling out for so long to have a new cat for companies and PHV. But the G seems to turn to a deaf ear.

I sympathise with those families with young kids and old folks who are in need of a car. Life in SG is becoming more and more tough....

[the observer]

I think we will see a move by LTA to split off PHV car fleet owners from the main stream COE bidders. I know a CEO of a car leasing company who was bidding for 60 COE's at a time last year.

This is the reason for the ever increasing COE prices.

The public is calling out for so long to have a new cat for companies and PHV. But the G seems to turn to a deaf ear.

I sympathise with those families with young kids and old folks who are in need of a car. Life in SG is becoming more and more tough....

If you think about it, re Car Rental Co.

i. an ever rising COE price keeps his inventory value up, ie little to no depreciation.
ii. less people being able to afford cars will result in an increasing demand to lease his inventory
iii. the increased COE cost isn't absorbed by the Co per se. It's passed on the leasee.

In fact, the higher it gets, the better for them.

[Pal]

Exactly! Win win situation for the leasing companies!

This will lead to higher transportation costs for businesses and they in turn add in the costs to our everyday necessities. A vicious cycle for everyone ...