COE prices for 1,600cc cars, commercial vehicles set new records. LTA huat ah.

[Confuseous]

Certificate of entitlement (COE) prices ended mostly higher at the latest tender on Wednesday, Dec 5, with the premium for 1,600cc cars and commercial vehicles setting new records.

COE for cars up to 1,600cc finished at $78,523, up from $77,291. COE for cars above 1,600cc ended at $90,200, down from $93,004. The Open COE, which can be used for any vehicle type but ends up mainly for bigger cars, rose from $93,990 to hit $97,000 - the highest since it breached $100,000 in 1994.

Commercial vehicle COE set a new high at $63,035, up from $60,235. Motorcycle COE finished at $1,612, down from $1,689.

Motor traders said the rush to fulfill sales targets as the year-end approaches, as well as introduction of new models, helped push premiums higher.

 

[Kinana]

Huat ah! Singaporeans so rich ah!
Quickly buy before it goes up further la.

 

[hairylee]

Taxis still in this category or not?

 

[Cestbon]

Taxis still in this category or not?

No more from 1st August 2012.

 

[Mercedes]

No more from 1st August 2012.

Will the price of 1600cc goes down then? No competition with cab companies?

 

[chupacabra]

Buying a car is stupid in peesai. Every 10 years have to fork out 100k or more. If 50 years own car here, one spend 500 grand. Better immigrate.

 

[Cestbon]

Buying a car is stupid in peesai. Every 10 years have to fork out 100k or more. If 50 years own car here, one spend 500 grand. Better immigrate.

If yearly salary more than $100k why not???
Actually on average spending on car for current COE price $2k~$2.5k/month that included service loan/insurance/road tax/maintenance/fuel&parking)

 

[Flozzy]

I dont think i will ever afford to drive a mini....sigh

 

[chonburifc]

KNN, this is day light robbery and you have to say thank you to the robber for robbing you.

 

[Flozzy]

I am in my late 20s. Even if i save 5k a year after expenses, etc, takes me 15 years savings to come up with the cash for COE!

 

[chonburifc]

I am in my late 20s. Even if i save 5k a year after expenses, etc, takes me 15 years savings to come up with the cash for COE!

coe is not known as 'see hor ee' (pronounce in hokien) for nothing. yes, literaly it means 'die for it'.

pappies really no heart liaoz.

 

[Flozzy]

I think I will never be able to afford to own a car...

 

[Cestbon]

I am in my late 20s. Even if i save 5k a year after expenses, etc, takes me 15 years savings to come up with the cash for COE!

U save $5k/year. U will be very poor when retired.
U need to save at least $15k/year.

 

[jubilee1919]

I am in my late 20s. Even if i save 5k a year after expenses, etc, takes me 15 years savings to come up with the cash for COE!

Kids born in the 40's - 60's also never knew they can become millionaires today. Sometimes they had to eat plain rice and black sauce and on good days some fish to be shared with many siblings. Today they have many properties, a few cars and exotic holidays every year.

Don't be disheartened for one never know what tomorrow will bring.

 

[Flozzy]

Kids born in the 40's - 60's also never knew they can become millionaires today. Sometimes they had to eat plain rice and black sauce and on good days some fish to be shared with many siblings. Today they have many properties, a few cars and exotic holidays every year.

Don't be disheartened for one never know what tomorrow will bring.

Those days, O levels can liao. Now I O levels only and only a secretary. Salary abt near 5k. HOW TO AFFORD???

 

[jubilee1919]

Those days, O levels can liao. Now I O levels only and only a secretary. Salary abt near 5k. HOW TO AFFORD???

I know a lady who was a secretary all her life who brought up her 3 kids almost single-handedly as her husband was a failure and who kept a mistress.

Now she is living in luxury as her kids in their 30's and 40's are doing very well and one is even a CEO of a bank. No she is not rich by any means but she is successful in life.

 

[Flozzy]

I know a lady who was a secretary all her life who brought up her 3 kids almost single-handedly as her husband was a failure and who kept a mistress.

Now she is living in luxury as her kids in their 30's and 40's are doing very well and one is even a CEO of a bank. No she is not rich by any means but she is successful in life.

I think this kind of good story or karma only few and far between one lah...mei you this type of fu qi....sigh

 

[jubilee1919]

I think this kind of good story or karma only few and far between one lah...mei you this type of fu qi....sigh

In Hong Kong there are more poor people than Singapore, and yet they are doing better economically. Having an "O" level should stop anyone from being successful. Many of the world's richest are people who has no degree and they employ graduates to run their operations. Don't be so negative because negativity will bring you down even more.

 

[jubilee1919]

Deleted as it is a double post.

 

[chupacabra]

If yearly salary more than $100k why not???
Actually on average spending on car for current COE price $2k~$2.5k/month that included service loan/insurance/road tax/maintenance/fuel&parking)

Those who can afford it and have the money to sustain themselves even when they retire or loose their jobs can certainly buy one. But because sinkees are sheeps, most who bought a car cannot keep up with the payments. One of my friends works in a second hand car dealership and told me more cars are being repossess these days . There are even stories of civil servants hiding their cars in their camps just to avoid the repo man.