Buyers of cars when COE result was 12k - dealer bid v low

PaulQ SG

Hello everyone

I book a Sunny when COE was 12k. For the last 2 bids, the stupid dealer bid so low for me (10.5k) and of course, I did not get my COE. Then, the dealer called me up to top-up and that really pissed me off Mad

Question Any buyers (Sunny and non-Sunny) out there having this problem with car dealers bidding very low intentionally ? Any advices ?

Thanks.

nightzip SG

did you give him a recommendation of the amount you will to come up with?

like 10k to 12k? or 10k to 14k?

if not, think he cannot be blamed, except for his lack of foresight. Very Happy

PaulQ SG

i asked the sales why they bid so low for me (before COE bidding closed) , she said Tan Chong bids , not them, so they have no say on the amt to bid. Like that, I recommend 14K , also no use, they just do not give a damn.

about the lack of foresight: if the dealer has the intention to give you the COE, he can revise it upwards what Exclamation only $2 per revision and what is $2 to them ?

harrow SG

Hmm.... I bought my Jazz when the COE was ard 12K... non-gurantee, 4 bids.
Only managed to get the last round (2nd bid).
First round they bidded for me at 13.1K, second bidding was 14.8K which they subsequently increase to $15.3K to ensure i got the COE...

I guess its a matter of whether they want to release the car to you. Mine is already in which i think that was the reason why they went all out to secure the COE for me...

There are other Jazz buyers who bought the same time as me but did not get as the colour they choose is ony coming in Jan, so did not get the COE this time round like me.

PaulQ SG

Hi Harrow

i guess they give it to those which allow them to profit more. eg. longer loan (10 yrs) -> dealer can make more profit -> therefore bid higher and release car to buyers with longer loan.

my loan is 1 year, how about yours ?

harrow SG

dunno, mine was 3 yrs… but i made alot of noise that i need the car asap… LOL

SeeTees SG

In a way they are forcing u into a corner so that you will get desperate and end up topping unecessary $ just to their predicament and joy. Do you really fancy the fuel-gulping Sunny so much? Else, I think it's a blessing you didn't get the COE. My advise is that you should not compromise your ground. Standfast and go through the 6 biddings. If they are sincere to sell, they WILL get you a COE. If this is the attitude they show while trying to sell you something, imagine their after-sales attitude when they do sold you something... All things said, go get the deposit back from TC after the 6th unsuccessful bid and walked into a Honda/Mitsubishi or Toyota showroom. The 3 brands are listed companies (Mit by C&C, Toyota by Borneo Motors under Inchcape and Nissan by Tan Chong). They are volume-driven; not profit driven. They are fighting amongst themselves for the top spot in the car sales chart. Even while Honda is notorious for being profit driven, they do have credible track records that they do eventually get you a COE at the end of the day. If TC don't mind losing a potential cust, I'm sure C+CKM or BM would be very glad to gain one. Simple Mathematics of balance; One man's lost is another man's gain.

AF1 SG

Recently purchased an accord from km when the coe was at the all time low of 11k+.

First round was bad and the bid was not successful due to the huge jump from 11k+ to 14k+.

However, second bid was successful to my surprise. Secured at $14751 and was really very happy with km for securing the coe so quickly although it was non guaranteed. Laughing

fondue SG

Not surprise. This is part of the COE stock market.

Ponders SG

Got question here.

IF dealer bids for you at $10,000. But COE that month ends up to be $12000.

And if I got it, who pays the difference?

Or the COE price will be based on the lowest bid made for that exercise?

So the prices that i keep seeing on the news, its based on the highest bid made or lowest bid made.

MCY SG

There's no way you can get the COE if you bid $10,000 and the final COE is $12,000

The COE price is based on the lowest bidder

Ponders SG

now it makes sense. haha

bloody hell.. my salesman smoked me then... haha

he said his dealership will pay the difference if COE is higher than bid price.

then i was thinking, how come they doing charity work. haha.

purecat SG

perhaps the salesman meant if the actual COE is lower than the bid price they quote u during sales, n they got the bid, they will refund u the excess... otherwise know as COE rebate ?

purecat SG

ermm i must be one of them too.. but i bought a March. Price was quoted at a 11k COE. Cost $55,500 less 1k discount = $54,500

If actual COE falls below 10k, i will be entitled to a COE refund.

Failed the first & 2nd COE bid as they bid at $10+ k for me

But surprisingly agent called to ask me if i want to consider the open cat but i will have to top up the COE by $1.5k.... i only have minutes to decide.. ie Costs now become $56k

I think it this way... i am paying $12.5k (originally 11k) for a $14.8k or $15k open cat COE.... consider gain i tot ?

I think TC is smart in the sense that they speculate that the price of COE wont fall below 12k in the upcoming bids.. and they yet do want to recognise all sales they can made... So still bid but at open cat... then psycho owners ( like me haha) who cant wait... if i dont want... they will go to the next person in list..

afterall COE can hold for 6 mths before registration. This way of grabbing confirmed sales is somehow getting sales at lesser profit nia... both bear abit of losses.

but if u are patient.. u may still get it at the 6th bid loh.. cos somehow if u already place deposit.. i doubt TC want to lose the sales...

JuzSab SG

i got my new nissan at 1st bid non guarette, as per the dealer from T.C, they go in at $14k for me at the COE. and the COE price drop till $11K + so gt rebate of $2K+... really heng heng got my new black sunny less than 1 month of waiting and cost less than $50K..where to find..

kentheman SG

i got my altis during the low COE period. got it at the nxt bidding. now waiting for my car to arrive

PaulQ SG

Hi Ponders
In a real situation, this will happen. Eg. dealer bids for you 11k but result was 14k. Before COE closes, if the dealer did not revise your bid to 14k, you are out bid, i.e. you cannot get a COE with the original bid of 11k.

A sincere dealer will revise your bid to 14k if he wants to release the car to you. So if you bought the car at a COE of 14k, that is the COE price that will stick to your car for the next 10 years. If the dealer revise your 11k bid to 14k without sucking 3k from you, you win 3k , dealer loses 3k.
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Hi purecat

About the top-up scam, be careful. You can top up 1.5k when COE is 14.7k but dealer can give you their ex-stock of 12k COE. That will be your loss then.
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Hi SeeTees

Thanks for your advice. The moment i saw them bidding 10k (for 2 bids) for me, i know that they already don't have the intention to give me the car. So I have prepared NOT to get their Sunny but look for other brand. No use begging dealer when they are not sincere.

fondue SG

Originally posted by PaulQ:
Hi SeeTees

Thanks for your advice. The moment i saw them bidding 10k (for 2 bids) for me, i know that they already don't have the intention to give me the car. So I have prepared NOT to get their Sunny but look for other brand. No use begging dealer when they are not sincere.
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Hi PaulQ

Don't get too upset with the dealers. Its more about making business sense than sincerity here. If its about sincerity, then why have the 6-bid policy ? It would have been garranteed COE for all purchases. If they don't want to sell you the car, then I don't think they'll take you booking at all ..... why go thru all the paperwork when nothing is gonna come out of it Wink

The dealers and SEs are just making a living. I'm sure they'll be glad to get you the car if it is viable (i.e. not having to pay out from their own pocket, etc !). As for the amount of profit, sometimes you get lucky and meet a SE desperately trying to meet sales target and he or she will get you the car even if they lugi a small amount in the whole transaction. Otherwise, its only natural that the SEs will try to get more out of the deal. After all, they also have housing loan, car loan and family commitment to fulfill.

harrow SG

Haha, same here! First bid they only put $13.1K. So i was pleasantly surprised when i got the second round!

PaulQ SG

if only my SE is as reasonable as what you have described.

my SE is not as responsible Crying or Very sad . whenever i asked for the reasons behind being out-bidded, the SE claims that it is NOT their duty to give me the COE, it is Tan Chong who is responsible. I am totally disappointed with this SE and will surely NOT recommend my colleagues or friends to this authorised agent.