Originally Posted by Unregistered

COE at $60k is considered cheap. Why? It means you are only paying $6k per year for the COE. Assuming that a middle income household earns $120k pa, this means only 5% of income will be spent on a COE. Spending $6k per year for COE is no big deal. Many families spend more than $6k per year on holidays. Also don't forget that because many households will buy super cheap HDB BTO flat, they use their CPF to pay the mortgage. This means they have a lot of income to buy a nice new car. There are good new cars selling less than $100k. Can easily afford to buy.