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How much are you earning per annum?

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  #6531 (permalink)  
Old 22-01-2015, 07:14 AM
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Indeed, our car population has been increasing at an unsustainable rate in the past, that is why the car growth rate is tapering to 0.25%. eventually I predict there will be zero growth and then negative growth of car population to bring the numbers down significantly by 30% over the longer term. Road congestion is a contributor to lower productivity. For instance, if you are in sales, the time you take to move from one client to another is now slower due to road congestion and hence your sales are lower. Multiply this over many sectors and that is why our productivity is in bad shape.

I think people are expecting the negative growth of car population in the longer term and that is why demand for new cars and COE is high and rising. The demand is very strong as many families are also buying their 2nd car for their wife and a 3rd and 4th car for their son and daughter to go to work. Some parents give their children new cars as wedding gifts too.
I am looking for a replacement car. Looking at CatB for my big family. Have beem waiting since the COE was $65k last July2014, and now it is $76k??
thought government told us that more quota going to be released in 2015??
when will COE ever come down??

**felt cheated**

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  #6532 (permalink)  
Old 22-01-2015, 07:47 AM
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I am looking for a replacement car. Looking at CatB for my big family. Have beem waiting since the COE was $65k last July2014, and now it is $76k??
thought government told us that more quota going to be released in 2015??
when will COE ever come down??

**felt cheated**
You are cheated by the guy who said prices will drop to $30k. He's a fool and you're a bigger fool for listening to him.

If you can't afford a new car, just buy an older car. It's cheaper. Why do you need a new car? Let others the chance to own new cars, since you are less able, just buy a cheaper older car.

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  #6533 (permalink)  
Old 22-01-2015, 08:40 AM
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You are cheated by the guy who said prices will drop to $30k. He's a fool and you're a bigger fool for listening to him.

If you can't afford a new car, just buy an older car. It's cheaper. Why do you need a new car? Let others the chance to own new cars, since you are less able, just buy a cheaper older car.
I think reading this forum is making me very worried that car prices are going to shoot back North again. I better discuss with my wife and start our car shopping (whether new or second hand) this weekend. thanks for the good advise.

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  #6534 (permalink)  
Old 22-01-2015, 12:13 PM
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You answering yourself issit?

Car is not a necessity for tiny Singapore which is well served by public transportation. Buy only if you can afford it. The roads are really congested already.

These are some of the pointers to help you know if you can afford a car:

1. Does petrol cost movement affect you? For eg, if petrol prices were to go back up to above $2 per litre (say for 95 Octane) will you start to feel the pinch?

2. Do you have to take more than the minimum 1 year loan to buy your car? Some car dealers give discount only if you minimally take a 1 year loan with them.

3. Do you sometimes leave your car at home and take public transport to save some money for the week / month?

4. Do you stretch your car servicing interval just to save some money on servicing?

5. Do you have to analyse and calculate and calculate and analyse many times to see if you could afford a car?

If you answer yes to any or worse, all of the above pointers, bro, you know the answer whether you should buy the car or not.


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Originally Posted by Unregistered View Post
I think reading this forum is making me very worried that car prices are going to shoot back North again. I better discuss with my wife and start our car shopping (whether new or second hand) this weekend. thanks for the good advise.
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  #6535 (permalink)  
Old 22-01-2015, 01:51 PM
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really pity those whom cant afford to upkeep a car to buy a car in the first place. if cant afford to buy a car with cold hard cash, then forget it.

Unlike fixed asset like HOUSE , its may appreciate or at least you wont need to rent a house even if one cant buy a house.

For cars?! it depreciates... on top of the compound interest! Unless you can make better return then the interest banks are charging you. otherwise... one shoud really consider buying a car.
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  #6536 (permalink)  
Old 22-01-2015, 03:03 PM
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Good points. The guy who is desperate and telling people not to buy surely cannot afford a car. Rather than hoping for COE to drop, he is better off taking the bus. Or if he really wants a car, just sell his flat and downgrade to a smaller flat and use the excess cash to buy his new car.
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  #6537 (permalink)  
Old 23-01-2015, 06:36 AM
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COE looks to head up soon. I better plan to buy my 2nd car.
Can the car dealer recommend which car to buy? please dont ask me to buy cheap Korea car.
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  #6538 (permalink)  
Old 23-01-2015, 10:01 AM
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Cat A prices already dropping 1k this month before the increased supply is effective.
Expect 2-3k drop in Feb to May as number of cat A Coes increase by 40%
In May, Lta going to announce another 40-50% increase in number of cat A coes, so further drop of coe prices by 2-3k. It will continue until end of year and coe should stabilize to around 50k.
In 2016, many people will face mortgage problems due to sibor reaching 2%. A lot of people will give up cars to keep up with mortgage payment
That will be best time to buy cars


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  #6539 (permalink)  
Old 23-01-2015, 10:08 AM
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Quote:
Originally Posted by Unregistered View Post
Cat A prices already dropping 1k this month before the increased supply is effective.
Expect 2-3k drop in Feb to May as number of cat A Coes increase by 40%
In May, Lta going to announce another 40-50% increase in number of cat A coes, so further drop of coe prices by 2-3k. It will continue until end of year and coe should stabilize to around 50k.
In 2016, many people will face mortgage problems due to sibor reaching 2%. A lot of people will give up cars to keep up with mortgage payment
That will be best time to buy cars
Great! Looks like good time to buy my COE @ $30k soon.

HUAT AH!
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  #6540 (permalink)  
Old 23-01-2015, 10:08 AM
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No more cars on the congested roads please.

Save your money for holidays and retirement or even property investment. Best time to buy property is when everyone is afraid. Dont miss this chance. With property, you can pass it on to your children, but not a car.

For those staying in condo, dont give anymore headaches to the MCST. Most condos are running out of car park lots if not already run out! I nearly couldnt get a lot for my 2nd car!


Quote:
Originally Posted by Unregistered View Post
Cat A prices already dropping 1k this month before the increased supply is effective.
Expect 2-3k drop in Feb to May as number of cat A Coes increase by 40%
In May, Lta going to announce another 40-50% increase in number of cat A coes, so further drop of coe prices by 2-3k. It will continue until end of year and coe should stabilize to around 50k.
In 2016, many people will face mortgage problems due to sibor reaching 2%. A lot of people will give up cars to keep up with mortgage payment
That will be best time to buy cars
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