COE and Car Prices

[LionFlyer]

Would a 2006 car make sense now? OMV greater than 20k. (Off-topic and yes, I know it is a want rather than a need)

[paullow]

say a camry 2006 new model for instance. the price now is ard 45-48k. end value maybe ard 17k. so max loss is 10kpa. the loss is controlled n fixed for a 7y car. but if can get at 40k, at 8kpa, i think its becomes quite a compelling deal.

[greypiggi]

say a camry 2006 new model for instance. the price now is ard 45-48k. end value maybe ard 17k. so max loss is 10kpa. the loss is controlled n fixed for a 7y car. but if can get at 40k, at 8kpa, i think its becomes quite a compelling deal.

Interesting numbers to share. A new 2013 porsche roadster costs about $250K + $90K COE last year = $340K.

At current round of $60K COE, price is now 290 + 60= 350K! No thanks to higher OMV tax rate. (OMV about 80-90K, so extra tax = 40K).

So does that mean cars that cost above 250K all get more expensive even if COE falls down to $40-50K???

Quite a clever scheme by the govt to tax consumption of luxury goods. I approve!

[godjira1]

The increased tax on cif values (omv) of the cars basically make the overall tax structure (coe + arf) more progressive. I think it was meant to be done that way because the coe is blind and cannot be made into a progressive tax system easily by itself.

Taxing luxuries and rich are always popular measures. Trick is not do them like france because u collect less money in the end.

[honeyclover]

SINGAPORE - Car loan quantums hit 10-year high in 2012 even as delinquency dipped to its lowest in 10 years too, according to a study conducted by the Credit Bureau Singapore (CBS).

According to the CBS analysis on car loans from 2003 to 2012, motorists took new loans with an average principal amount of S$90,401 last year, a 130.8 per cent increase from S$39,161 in 2003.

Despite the heavier debt commitment, 2.69 per cent of car loan holders had an instalment that was overdue by more than 30 days in 2012, the lowest in 10 years.

CBS data also showed that the demand for new loans for motor vehicles dipped to its lowest in 10 years in the last three years. In 2010, 2011 and 2012, consumers took up 65,398, 64,807 and 64,838 loans, respectively.


S$90,401?? siao bo..

[smallcaps]

say a camry 2006 new model for instance. the price now is ard 45-48k. end value maybe ard 17k. so max loss is 10kpa. the loss is controlled n fixed for a 7y car. but if can get at 40k, at 8kpa, i think its becomes quite a compelling deal.

Currently 5 camry 2006 asking for below 40k. Let's see if the count starts increasing...

http://www.sgcarmart.com/used_cars/listi...2006&AVL=2

[Musicwhiz]

SINGAPORE - Car loan quantums hit 10-year high in 2012 even as delinquency dipped to its lowest in 10 years too, according to a study conducted by the Credit Bureau Singapore (CBS).

According to the CBS analysis on car loans from 2003 to 2012, motorists took new loans with an average principal amount of S$90,401 last year, a 130.8 per cent increase from S$39,161 in 2003.

Despite the heavier debt commitment, 2.69 per cent of car loan holders had an instalment that was overdue by more than 30 days in 2012, the lowest in 10 years.

CBS data also showed that the demand for new loans for motor vehicles dipped to its lowest in 10 years in the last three years. In 2010, 2011 and 2012, consumers took up 65,398, 64,807 and 64,838 loans, respectively.


S$90,401?? siao bo..

I think I already posted this in a separate thread.

[a74henry]

Govt achieved its target of cooling the COE market. COE prices yesterday dropped for most categories.

[paullow]

say a camry 2006 new model for instance. the price now is ard 45-48k. end value maybe ard 17k. so max loss is 10kpa. the loss is controlled n fixed for a 7y car. but if can get at 40k, at 8kpa, i think its becomes quite a compelling deal.

Currently 5 camry 2006 asking for below 40k. Let's see if the count starts increasing...

http://www.sgcarmart.com/used_cars/listi...2006&AVL=2

i think those below 40k are old model. the 2006 camry 2.4 keyless one, shd be able to get ard 45k.

[smallcaps]

say a camry 2006 new model for instance. the price now is ard 45-48k. end value maybe ard 17k. so max loss is 10kpa. the loss is controlled n fixed for a 7y car. but if can get at 40k, at 8kpa, i think its becomes quite a compelling deal.

Currently 5 camry 2006 asking for below 40k. Let's see if the count starts increasing...

http://www.sgcarmart.com/used_cars/listi...2006&AVL=2

i think those below 40k are old model. the 2006 camry 2.4 keyless one, shd be able to get ard 45k.

Yes, you are right. Currently 1x Camry 2006 G at that price:

http://www.sgcarmart.com/used_cars/listi...L=2&TO=Any