How much are you earning per annum?

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.

Your arguments make sense. In today's environment where many households earn a lot more, changing new cars has become a norm, just like changing clothes.

Originally Posted by Unregistered

I'm hoping COE will crash to below $20k, then I can scrap my one year old car to upgrade to a new bigger car. I got my COE at $60k+. Possible?

Don't be a fool. COE has already reached its lows and will resume higher. It will not go below $50k for sure. There is a lot of replacement demand. Supply higher will be matched by higher demand from replacement demand as well as demand from new buyers. More youngsters are earning more and they can afford to buy new cars. Just look at the number of young drivers on the road. Retirees are also getting richer so you see so many retirees buying new cars, some buy more expensive cars than they ever bought before to celebrate their retirement.

Originally Posted by Unregistered

Don't be a fool. COE has already reached its lows and will resume higher. It will not go below $50k for sure. There is a lot of replacement demand. Supply higher will be matched by higher demand from replacement demand as well as demand from new buyers. More youngsters are earning more and they can afford to buy new cars. Just look at the number of young drivers on the road. Retirees are also getting richer so you see so many retirees buying new cars, some buy more expensive cars than they ever bought before to celebrate their retirement.

Minister Lui already say LTA wont claw back the tsunami supply for next 2 years. but unfortunately there is a tsunami demand also to match it.

i wonder how the COE will be after the tsunami supply dry up from 2019? Does LTA have any more tricks?

Originally Posted by Unregistered

Minister Lui already say LTA wont claw back the tsunami supply for next 2 years. but unfortunately there is a tsunami demand also to match it.

i wonder how the COE will be after the tsunami supply dry up from 2019? Does LTA have any more tricks?

I think the situation will be worst by 2019 when COE supply dries up.

Reason is because those owners who own cars from 2010-2013 will foresee a low peak, and they will scrap their car between 5-10 year old in order to avoid the low peak. This will cause a spiral effect as the supply between 2020-2023 will get even worse.

In short, prepare for COE >$200,000 by then. Good luck.

Originally Posted by Unregistered

I think the situation will be worst by 2019 when COE supply dries up.

Reason is because those owners who own cars from 2010-2013 will foresee a low peak, and they will scrap their car between 5-10 year old in order to avoid the low peak. This will cause a spiral effect as the supply between 2020-2023 will get even worse.

In short, prepare for COE >$200,000 by then. Good luck.

If you want to experience owning a car for at least 10 years, then now is the best time to buy a new car while COE is now at its cyclical lows of $50k+. I think by 2023 onwards, COE could rise to more than $100k or even $200k for Cat B. You should just buy a new car with COE today, buy those car models costing less than $100k. To spend $10k pa to own a car is worth the money spent. If you take a taxi, it will also cost you money so might as well buy a new car. Your own car is more convenient than taking the taxi.

Originally Posted by Unregistered

If you want to experience owning a car for at least 10 years, then now is the best time to buy a new car while COE is now at its cyclical lows of $50k+. I think by 2023 onwards, COE could rise to more than $100k or even $200k for Cat B. You should just buy a new car with COE today, buy those car models costing less than $100k. To spend $10k pa to own a car is worth the money spent. If you take a taxi, it will also cost you money so might as well buy a new car. Your own car is more convenient than taking the taxi.

Many of my bosses & colleagues who bought high COE back in 2013 are coming back into the market as their cars reached 3 years. To them, it's worth it as they scrap their $90k COE and get cheap COE at $50k+.

I agree with you that this is a timebomb for COE to reach unbelievable heights by as early as 2020. Good luck to all bros and sis who are still waiting.

Originally Posted by Unregistered

Many of my bosses & colleagues who bought high COE back in 2013 are coming back into the market as their cars reached 3 years. To them, it's worth it as they scrap their $90k COE and get cheap COE at $50k+.

I agree with you that this is a timebomb for COE to reach unbelievable heights by as early as 2020. Good luck to all bros and sis who are still waiting.

Your bosses and colleagues are smart. COE prices will only get higher from its current lows.

Originally Posted by Unregistered

Your bosses and colleagues are smart. COE prices will only get higher from its current lows.

Minister Lwee is doing more damage by allowing the tsunami of COE quota to be released unchecked for next 2 years

Originally Posted by Unregistered

Minister Lwee is doing more damage by allowing the tsunami of COE quota to be released unchecked for next 2 years

COE supply should be clawed back now to keep for future years when supply of COEs is less.

Originally Posted by Unregistered

COE supply should be clawed back now to keep for future years when supply of COEs is less.

They are just kicking the can down the road.

People will rush to scrap their cars by 2017 at the high COE quota as promised by ministar Lwee.

Anyway election is over and 69.9% given the mandate