Raising COE [Was : COE above $80,0000]

[Nebbermind]

MrsSeah:

hquek:

Nope. Not lucky to have iron rice bowl. If pp have to pay CASH for the Coe they bid, you think it will be 80k? Somehow I think much of it is pumped up by dealers, and pp accept becos they can take 10years to pay up the Coe they bid for.

I agreed. If car loan cut down to 7 years, I believe, the price may drop too!!!

and also loan capped at 70% as in the old days!! I find alot of younger people overcommitting

[verykiasu2010]

Nebbermind:

MrsSeah:

[quote=\"hquek\"]Nope. Not lucky to have iron rice bowl. If pp have to pay CASH for the Coe they bid, you think it will be 80k? Somehow I think much of it is pumped up by dealers, and pp accept becos they can take 10years to pay up the Coe they bid for.

I agreed. If car loan cut down to 7 years, I believe, the price may drop too!!!

and also loan capped at 70% as in the old days!! I find alot of younger people overcommitting[/quote]and then complain cannot afford HDB flat installment payment

[mgnvr]

Then only one class of society can afford to drive.

[CRAZYBANANA]

Pay as you bid is a good idea :salute: ! But is anyone hearing that a review of the CoE system is needed :xedfingers:

[marvic]

Well, maybe the review is to pay for the highest bid price instead of the current’s pay for the lowest.

[hquek]

mgnvr:

Then only one class of society can afford to drive.

I know of a man who pays only for his precious car and related expenses. Wife has to work to pay for household and children. Is it right to insist on a car when he can't quite afford to feed himself? His job does not insist on him having a car, neither does he ferry his kids much. its more a prestige thing.

I'm not being elitist here, but there must be a distinction between needs and wants.

I support reverting the loan period to 7 yrs, and to go further, everyone should pay their own COE, dealers cannot buy on behalf. If its out of own pocket, I don't think there will be that many pp who will bid 80k for that piece of paper.

But also, maybe give ONE free COE (non transferable) to people who have 3 kids or more, I am happy to recognize the bit they are doing for the country. (Disclaimer: I only have 2 and won't qualify)

Dream only la....

[JonC]

ha ha ha … good one.

[mgnvr]

hquek:

mgnvr:

Then only one class of society can afford to drive.

I know of a man who pays only for his precious car and related expenses. Wife has to work to pay for household and children. Is it right to insist on a car when he can't quite afford to feed himself? His job does not insist on him having a car, neither does he ferry his kids much. its more a prestige thing.

I'm not being elitist here, but there must be a distinction between needs and wants.

I support reverting the loan period to 7 yrs, and to go further, everyone should pay their own COE, dealers cannot buy on behalf. If its out of own pocket, I don't think there will be that many pp who will bid 80k for that piece of paper.

But also, maybe give ONE free COE (non transferable) to people who have 3 kids or more, I am happy to recognize the bit they are doing for the country. (Disclaimer: I only have 2 and won't qualify)

Dream only la....

That is a selfish man and I pity the wife and kids.

[lim72]

This is a good source of revenue for the govt. So who is complaining? Only the consumers. Who is the decision maker? Not the consumers for sure.

[Karl12]

Just saw the news, COE up again. All time high.

No wonder the new cars on the road now are all the branded cars!

Not many pp will pay 80k for COE and 40k for a basic car.