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How much are you earning per annum?

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  #6731 (permalink)  
Old 15-02-2015, 12:19 AM
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Me too! I will get a Merz, my wife a BM, my son an Audi, and my daughter a Mini. What a Huat Huat 2015
We are talking about real cars. not toys.

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  #6732 (permalink)  
Old 15-02-2015, 03:12 AM
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Bro I also think the COE will plunge. Reason is because there are many AD which are backlog and people have to wait up to 6 months to get their car. With the new orders being pushed back, and the release back of many deregistration, we will definitely see a decline in the COE within this year. Congrats for being very patient and enjoy your new ride!
this round the session has been reduced to 2 days, so there could be a high chance there is a freak result, Cat A might plunge by $10k. Lets see thw show unveiled! Its juat like the property market nos, all waiting patiently and the pricea are falling, Good news to all.

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  #6733 (permalink)  
Old 15-02-2015, 04:43 PM
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Small business owner, 48, net income $66k pa.
Wife, admin officer, 50, income $80k pa.
Our combined savings $30k pa.
We sold our flat and upgraded to a condo in 2005.
The condo cost us $500k in 2005, we don't need to take a big loan.
We use the money from selling our flat and some cash savings to pay down.
Now we have finished paying our mortgage. The condo is now worth $900k.
We have $400k in our total CPF savings.

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  #6734 (permalink)  
Old 15-02-2015, 07:08 PM
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Quite an achievement for you and wife. You have been living in a condo for 10 years. You would be among the top 15% of Singaporeans in terms of net worth since more than 80% live in public housing. Many in their 40s and 50s are still aspiring to upgrade to a condo. You have done well to be among the top 15% in social status.

Quote:
Originally Posted by Unregistered View Post
Small business owner, 48, net income $66k pa.
Wife, admin officer, 50, income $80k pa.
Our combined savings $30k pa.
We sold our flat and upgraded to a condo in 2005.
The condo cost us $500k in 2005, we don't need to take a big loan.
We use the money from selling our flat and some cash savings to pay down.
Now we have finished paying our mortgage. The condo is now worth $900k.
We have $400k in our total CPF savings.
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  #6735 (permalink)  
Old 16-02-2015, 10:56 AM
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this round the session has been reduced to 2 days, so there could be a high chance there is a freak result, Cat A might plunge by $10k. Lets see thw show unveiled! Its juat like the property market nos, all waiting patiently and the pricea are falling, Good news to all.
pray for a miracle this round of COE.... Drop to $50k for CatA.. Here I come!!
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  #6736 (permalink)  
Old 16-02-2015, 03:30 PM
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pray for a miracle this round of COE.... Drop to $50k for CatA.. Here I come!!
Hope it will drop to $10k. Huat Ah!

I can then scrap my one year old car and buy a brand new model. Huat Ah!
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  #6737 (permalink)  
Old 16-02-2015, 04:07 PM
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Hope it will drop to $10k. Huat Ah!

I can then scrap my one year old car and buy a brand new model. Huat Ah!
Huat ah! Me too will change my 2 week old car with $75k COE and get the refund!
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  #6738 (permalink)  
Old 16-02-2015, 04:40 PM
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I think we should change the COE system. Instead of bidding for COE we should just fix the COE prices and set the amount of COE available for each month.

For instance, we should just fix Cat A COE at $70k and Cat B COE at $80k. In this way, we don't have the big fluctuations in COE prices. This will be fair to all. Currently, those who got a high priced COE will not be happy to see COE price plunge after he has bought his car. So the purchase of COE will be on first come first served basis. Any unsold COE for a particular month will be brought forward to the next month.

We should avoid situation where COE prices fluctuate from $10k (eg Cat A COE in 2008/2009) to $80k (eg Cat A COE in 2013).


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  #6739 (permalink)  
Old 16-02-2015, 05:57 PM
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COE prices for this 2nd Feb bidding will bounce back.

Cat A COE price likely to bounce to $68k. This is driven by popular Cat A models such as the Mazda 3, Kia K3, Hyundai Accent, Nissan Qashqai 1.2, Toyota Altis, etc.

Most car owners who have been keeping their cars for 7 years or older will be buying new cars. This is not surprising as their household incomes have gone up by at least doubled over the past 10 years. For instance, in 2005, their household income could be $70k pa. Today, their household income could be $150k - $250k pa. So, they have no problem paying for a $100k - $150k car as it only means spending $10k - $15k pa.
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  #6740 (permalink)  
Old 16-02-2015, 06:38 PM
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The latest report shows that the median HH income is now $8,290 pm in 2014, which is higher than in 2013. Hence it would not be surprising that the mean (average) HH income will be much higher. For those who don't know, there is a difference between mean and median.

So, it would not be surprising to have typical families with HH incomes of $150k pa or more. Youngsters nowadays also earn high incomes. A local grad couple in their early 30s could earn a HH income of $200k pa easily. They would typically live in a condo and can easily own a car costing $100k-$150k.


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