COE to drop?

muchie SG

Hi,

Today's Straits Times say that govt will be likely to increase the amount of COEs this Oct. Does this mean that COEs will be cheaper then and end of the yr is the best time to buy a car? According to previous years' statistics, COEs tend to be cheaper towards the end of the yr, does this mean we can see COEs around $10K? Please advise. Thanks!

Praetorian111 SG

I can see more cars being tow back by banks. As more are getting bigger cars instead of those that are comfortable within their own budget.

digicharat SG

ya lor... why does ppl like to buy cars that is out of their buget?
for face? when bank tow it back got face meh?
for comfort for shiok? how long can they enjoy till their buget runs out? Rolling Eyes

flash9933 SG

People buy car just to enjoy but never realise that getting a car will drain off all their hard earn money. Worst still, they did not budgeted other expenses such road tax, insurance and R&M.

Eventually, after a few struggling months, they can't pay and car got towed.

elindra SG

Agreed!

I heard from a friend working in a bank
That they approve car loans for people who are earning 4k combined income
Who wanted to buy a BMW
Mainly because they can tow the cars away