Here is the formula to own new cars:

1. Buy your first BTO flat for $200k.
2. Wait for 5 years (MOP) of your flat, then apply for second BTO flat costing $200k.
3. After you get key to your 2nd BTO flat, sell your first BTO flat in the resale market for $500k and make profit of $300k.
4. Use your big fat profit to buy a brand new car.

Our cheap BTO flats make us all rich and able to buy new cars. As long as we have cheap BTO flats, COE prices will continue to rise higher and higher.