COE trends
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In early December, I was telling my wife that we can take cab as a much cheaper alternative to driving a car, since COE is so high. This is subjected to the condition that cost of commuting by cab remains much lower than driving a car. Barely one week later Comfort dropped the bomb. And I believe we can expect cost of commuting by cabs to continue rising until it is almost comparable to driving.
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Cab might not be cheaper than cars if you are using it daily and going to multiple places i feel.
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Well I guess it’s a matter of lifestyle and how much tolerance does one has. We deliberately gave up 2nd car some years ago to see what it was like. So I started taking cab to/fro work instead, and all other errands as well.
It was OK for awhile. But in the last 2 years or so, things have turned for the worse.
Very often I’m faced with much frustration of having long queues at taxi stands, and worse, no taxis at all. Somehow the taxi system in Singapore just could not cope with peak hours and rainings - not a hope to get a cab, even if you call !!
So, in addition to the financial costs, there’s also the "non-pecuniary cost" involved.
I guesssed, end of day, is how much can you afford given the current situation. -
The tradeoff comparison should be between car and BMW + occasional Taxi. Subsituting car with totally taxi rides is no brainer, as it is definitely more costy to take taxi on routine days that is not just to-and-fro work.
Cruel fact of life where car is concerned, people can only either choose to spend money to save time or spend time to save money.... :sad: -
Will the coe prices come down?
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Herbie:
Will the coe prices come down?
whenever it comes down will go up again! -
MadScientist:
Hi!
I think the high COE prices (>50K) are here to stay for a bit, albeit circa October 2011.
COE numbers have been readjusted and the new formula tweaked from the old formula so quota numbers are affected. This together with a lot of liquidity around, seems to be affecting ppty and COE prices...
I do not see a drop <40K until 2014 thereabouts...
btw, I got my COE at 6K in 2007 after tracking and timing, with a stroke of luck as well when the prevailing COE was 12K. Since it was a Jap car, it was the cheapest at that point. Even in Feb 2009, when Cat B COE was $589, the car price was higher as the Yen (hence OMV) went rocketing due to the GFC.
As expected, the results after the recent measures!
COE for cars up to 1,600cc ended at $74,689, down slightly from $78,301.
COE for cars above 1,600cc PLUNGED from $92,667 to $58,090.
For those who never believed that by 2014, COE will moderate, perhaps we are starting to see that happening...
Cheers! :imcool: -
MadScientist:
Do you think it will go down to below 40k in 2014 or even this year?MadScientist:
Hi!
I think the high COE prices (>50K) are here to stay for a bit, albeit circa October 2011.
COE numbers have been readjusted and the new formula tweaked from the old formula so quota numbers are affected. This together with a lot of liquidity around, seems to be affecting ppty and COE prices...
I do not see a drop <40K until 2014 thereabouts...
btw, I got my COE at 6K in 2007 after tracking and timing, with a stroke of luck as well when the prevailing COE was 12K. Since it was a Jap car, it was the cheapest at that point. Even in Feb 2009, when Cat B COE was $589, the car price was higher as the Yen (hence OMV) went rocketing due to the GFC.
As expected, the results after the recent measures!
COE for cars up to 1,600cc ended at $74,689, down slightly from $78,301.
COE for cars above 1,600cc PLUNGED from $92,667 to $58,090.
For those who never believed that by 2014, COE will moderate, perhaps we are starting to see that happening...
Cheers! :imcool: -
Not unless buyers bid their own coes. Leave it to the dealers, pp should expect they will continue to bid as high as they can. Afterall coe money doesnt hurt their pocket.
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Small car COE lowest since early 2012
COE for cars up to 1,600cc and 130bhp fell from $62,002 a fortnight ago to end at $57,199 - almost a three-year low.
http://www.straitstimes.com/news/singap ... 2-20150217
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