Many people with 8 to 9 years old cars are already replacing their cars with brand new ones. They are not waiting at the last minute. Many are at the sidelines to wait and see. They want to wait to see whether the Nov bidding for Cat A will go down. Contrary to expectations, Cat A price did not go down due to strong replacement demand. This signals that people at the sidelines will now jump in for the next bidding as they realize demand is strong. Price of COE will continue to rise.

Anyway, you can still get a good Cat A car for $100k. Just go for the Japanese or Korean brands. Don't be stupid to waste on conti cars as a big portion of money you pay goes to the dealers. You are a big fool to throw your money. Might as well use your money to upgrade from public housing to posh condo or from a small condo to a bigger, newer condo. Cars are depreciating assets so don't be a fool to overspend on a car. The Korean brands are best value for money.