Budget 2013

[pirate]

janet_lee88:

I do pity the car salesmen though...it's their rice bowl.

The number of COEs remain the same. Which means that the number of new cars sold also remain the same. Which means that it would depend on whether the sales people concerned are selling Kia, Toyota or Mercedes.

Unless they have been profiteering from the high COEs the last couple of years...

[Funz]

I would think reverting back to the 70% loan and 7yrs loan policy would have been sufficient. 50% & 5 yrs really tough for 1st time car owners.

[sleepy]

Perhaps it’s a sign that the govt is hearing us… because existing COE price is way too high! With this, COE price will definitely decrease sharply


However, I think 2nd hand car finance scheme should not be as stringent as new car. Afterall, 2nd cars are not increasing existing car population

[Dora1]

sleepy:

Perhaps it's a sign that the govt is hearing us... because existing COE price is way too high! With this, COE price will definitely decrease sharply


However, I think 2nd hand car finance scheme should not be as stringent as new car. Afterall, 2nd cars are not increasing existing car population

But this will cause a loophole. As long as I can pay the 50% down, then I'll buy the car. Then I'll sell it 6 months later at the same or higher price to someone who cannot afford the 50% down. Free car for 6 months + a few hundred or thousand dollars pocket money, not bad mah better than letting the money sit in the bank and earning close to zero interest.

[sleepy]

Dora1:

sleepy:

Perhaps it's a sign that the govt is hearing us... because existing COE price is way too high! With this, COE price will definitely decrease sharply


However, I think 2nd hand car finance scheme should not be as stringent as new car. Afterall, 2nd cars are not increasing existing car population

But this will cause a loophole. As long as I can pay the 50% down, then I'll buy the car. Then I'll sell it 6 months later at the same or higher price to someone who cannot afford the 50% down. Free car for 6 months + a few hundred or thousand dollars pocket money, not bad mah better than letting the money sit in the bank and earning close to zero interest.

:salute: :salute: i didn't think of that at all

[Augmum]

Dora1:

sleepy:

Perhaps it's a sign that the govt is hearing us... because existing COE price is way too high! With this, COE price will definitely decrease sharply


However, I think 2nd hand car finance scheme should not be as stringent as new car. Afterall, 2nd cars are not increasing existing car population

But this will cause a loophole. As long as I can pay the 50% down, then I'll buy the car. Then I'll sell it 6 months later at the same or higher price to someone who cannot afford the 50% down. Free car for 6 months + a few hundred or thousand dollars pocket money, not bad mah better than letting the money sit in the bank and earning close to zero interest.

There will definitely be loopholes.....
No need 6 mths....
Those car dealers, agents, parallel importers, finance companies never lack of \"creativeness\"
Simply left hand change right hand, right hand change left hand.....

[Mawar]

sleepy:

Dora1:

[quote=\"sleepy\"]Perhaps it's a sign that the govt is hearing us... because existing COE price is way too high! With this, COE price will definitely decrease sharply


However, I think 2nd hand car finance scheme should not be as stringent as new car. Afterall, 2nd cars are not increasing existing car population

But this will cause a loophole. As long as I can pay the 50% down, then I'll buy the car. Then I'll sell it 6 months later at the same or higher price to someone who cannot afford the 50% down. Free car for 6 months + a few hundred or thousand dollars pocket money, not bad mah better than letting the money sit in the bank and earning close to zero interest.

:salute: :salute: i didn't think of that at all[/quote]Sounds doable. But must cover penalty for early redemption of car loan.

[concern2]

Mawar:

sleepy:

[quote=\"Dora1\"]
But this will cause a loophole. As long as I can pay the 50% down, then I'll buy the car. Then I'll sell it 6 months later at the same or higher price to someone who cannot afford the 50% down. Free car for 6 months + a few hundred or thousand dollars pocket money, not bad mah better than letting the money sit in the bank and earning close to zero interest.

:salute: :salute: i didn't think of that at all

Sounds doable. But must cover penalty for early redemption of car loan.[/quote]Like must wait 5 years then can sell flat...

[janet88]

sleepy:

Perhaps it's a sign that the govt is hearing us... because existing COE price is way too high! With this, COE price will definitely decrease sharply


However, I think 2nd hand car finance scheme should not be as stringent as new car. Afterall, 2nd cars are not increasing existing car population

Having rocket high COE is not the solution.
The new system is better...have money then you buy. But if we already have a car, of course we can say this...the first time buyers are the ones affected.
Really hope COE prices will decrease.

[Mawar]

janet_lee88:

sleepy:

Perhaps it's a sign that the govt is hearing us... because existing COE price is way too high! With this, COE price will definitely decrease sharply


However, I think 2nd hand car finance scheme should not be as stringent as new car. Afterall, 2nd cars are not increasing existing car population

Having rocket high COE is not the solution.
The new system is better...have money then you buy. But if we already have a car, of course we can say this...the first time buyers are the ones affected.
Really hope COE prices will decrease.

Hmmm ... I doubt it. We are a very funny group of people. Took so many rounds of drastic measures to cool property market. Still we mop up new suburban launches like there is no tomorrow. Only foreign investors are backing off. For us, the more it's out of our reach, the more we want it. So many will do creative domestic budgeting and buy our dream cars. COE prices won't change too much after the initial shakeup.