How much are you earning per annum?

The reason why COE price will be at current levels or higher is because it is lucrative to set up your own private hire car business.

If you buy a new car now at $90k, your depreciation per day is only $25. Your daily earnings can be a lot more than this. After taking away depreciation, road tax, insurance, fuel cost, etc, you can still make money if you drive long enough.

So that is why demand for new cars now is very high. With just a capital of $90k to buy the new car and some working capital, you can start doing your transport business. This is safer than opening up some shops which you can't guarantee will make money.

So, if you have $90k, you can set up your own private hire car business and makes lots of money. Not surprising why demand for new cars and COE is very high. COE price will surely go higher as demand is greater than supply.

Originally Posted by Unregistered

The reason why COE price will be at current levels or higher is because it is lucrative to set up your own private hire car business.

If you buy a new car now at $90k, your depreciation per day is only $25. Your daily earnings can be a lot more than this. After taking away depreciation, road tax, insurance, fuel cost, etc, you can still make money if you drive long enough.

So that is why demand for new cars now is very high. With just a capital of $90k to buy the new car and some working capital, you can start doing your transport business. This is safer than opening up some shops which you can't guarantee will make money.

So, if you have $90k, you can set up your own private hire car business and makes lots of money. Not surprising why demand for new cars and COE is very high. COE price will surely go higher as demand is greater than supply.

One more important point is that the COE quota is going to shrink drastically from Y2020 onwards. Everyone who has eyes can see it coming. The COE premium will shoot over $150,000 by that time. So, if Uber starts accumulating its car at today's low COE, and then sell at Y2020 & beyond, they might even own the car for free! No wonder everyone is rushing in now to bid COE, and avoid being caught in the COE drought period from Y2020.

Originally Posted by Unregistered

One more important point is that the COE quota is going to shrink drastically from Y2020 onwards. Everyone who has eyes can see it coming. The COE premium will shoot over $150,000 by that time. So, if Uber starts accumulating its car at today's low COE, and then sell at Y2020 & beyond, they might even own the car for free! No wonder everyone is rushing in now to bid COE, and avoid being caught in the COE drought period from Y2020.

Yes, the smart people buying cheap new cars now. COE price is low now.

I can buy a few new cars, rent it out to Uber or Grab drivers and make money. Come 2020 when the COE price is high due to shrinking COE supply, I sell my car.

So, that's why demand for new cars is high.

Stupid and idiotic car dealer spouting nonsense car rubbish in a salary topic. Real goondu!

Uber took about 500 cars last bid. Probably sgd 45 million. How long can Uber continue ? My guess is probably maximum of 10 bids, 500 million max and 5 months. So after that coe prices will still trend down. However it will be difficult to see it go below 30k unless a bad financial crisis hits Spore. 30k or 60k, families who really can afford cars and not over extend on loans probably don't feel much difference.

Originally Posted by Unregistered

Uber took about 500 cars last bid. Probably sgd 45 million. How long can Uber continue ? My guess is probably maximum of 10 bids, 500 million max and 5 months. So after that coe prices will still trend down. However it will be difficult to see it go below 30k unless a bad financial crisis hits Spore. 30k or 60k, families who really can afford cars and not over extend on loans probably don't feel much difference.

$60k COE means $6k pa spent on COE. This is very cheap. Many families can spend more than $6k pa on holidays. Anyway if you need to use a taxi everyday, it is better to own a car. Buy a new car.

The quality of posts in this forum has deteriorated beyond hope. There are many no substance and repetitive posts by one or two single posters. It really hit the bottom when these one or two posters reply and praise their own posts. When challenged on their points they not only cannot argue objectively, but turn abusive.

Their immature argument and lack of research and substance to support their points were at best funny, but after many repetition became really annoying.

Here are the culprits (could be same loser (oops I mean poster)):

1. Retiring in 3rd world countries (M'sia, Thailand etc..), HDB, CPF are best assets
2. Worked in fast pace, high stress job, but retired early
3. Dont worry for those retrenched PMETs
4. We're a middle class couple, 47 & 45, with two teenage children, blah, blah, blah (very irritating)
5. COE prices -- totally out of topic and silly

Haiz......

Well said. Also to add, he is a multi millionaire and can retire now if he wish to but he is still working because he enjoys working ... lol

Originally Posted by Unregistered

The quality of posts in this forum has deteriorated beyond hope. There are many no substance and repetitive posts by one or two single posters. It really hit the bottom when these one or two posters reply and praise their own posts. When challenged on their points they not only cannot argue objectively, but turn abusive.

Their immature argument and lack of research and substance to support their points were at best funny, but after many repetition became really annoying.

Here are the culprits (could be same loser (oops I mean poster)):

1. Retiring in 3rd world countries (M'sia, Thailand etc..), HDB, CPF are best assets
2. Worked in fast pace, high stress job, but retired early
3. Dont worry for those retrenched PMETs
4. We're a middle class couple, 47 & 45, with two teenage children, blah, blah, blah (very irritating)
5. COE prices -- totally out of topic and silly

Haiz......

There is also a loser. He likes to brag about his wealth, how he makes money, blah, blah, blah ... very irritating and arrogant

young couple, 40 & 41, $150k pa.
hope to retire at 55.
current net worth, $2m.