Reutral,
I am thinking of buying too but am holding off as I felt that the
COE may go down further. In the last two COE bidding, the number of
bidding for the cat A COE seems to be dwindling. I am looking at
the overbidding for the past few biddings to see if there is a
demand for cars. And when you see that there is a high number of
over subscribed ie more bids than COE allocated, you know that
demand is more than supply and the COE prices will tend to move up
and vice versa. The trend for the past few biddings are :
Mar 1st bidding 600 over subscribed $24,597
Mar 2nd bidding 700 over subscribed $24,940
Apr 1st bidding 1450 over subscribed $26,689
Apr 2nd bidding 1100 over subscribed $27,564
May 1st bidding 600 over subscribed $27,507
May 2nd bidding 300 over subscribed $27,501
I am hoping that people are holding off their purchase and we will
see a reverse trend to bring the COE down. Hopefully, the recent
optimistic news released by the government and the improved
sentiment will not cause people to panick and rush in to buy cars
thinking that COE will go up. And I think people nowadays are
getting more cautious with money and are more prudent.
If you do not need a car urgently, why not wait and see? But that
is just my personal opinion. If you have the means to lock in at
the current price, by all means as I think the prices of COE would
probably fall by just 2 to 3 thousands if it ever come down.
Cheers
