COE is a luxury tax paid upfront.
After buying a brand new car, even if you do not drive it at all for 10 years; you have already paid the COE.
Being a financial control mechanism on car population numbers, it naturally favours the rich against the less well off.
It is a rich source of revenue from people who seem very willing and able to pay.
If there was no COE, then govt may have to look elsewhere to raise the funds.
One of my past post-grad foreigner lecturer in the past, said he could afford to buy a car but refused to. On the principle that he felt the COE was a piece of paper that cost a fortune and which effectively says, now you have govt permission to go and buy a car.
COE will never change unless there are massive electoral losses directly attributed to it by the population. Until then COE is here to stay.
Not saying COE is good or bad, but just telling you what it is and what it takes to change or annul it. Repeating grumbles about COE in various forums is useless, except to let off steam.
Last edited by ricohflex; 25th December 2012 at 01:17 AM.
without a price based COE it is still possible to restrict car ownership, just use ballot COE .
of course the implications of this alternative system on car dealer market would be very interesting
With sky high COE prices, so many people can still afford to buy cars. Imagine what would happen if COE prices become more affordable. I think got car also cannot move.
Now, currently, with this COE system, our roads are already pretty darn congested during peak hours. So, has anyone for that matter got any better solution?
I have one suggestion though, not sure if it can work well. That is to allow those who wish to change car, at say 5years, to be able to transfer the COE from the old car to the new. The old car can no longer be on our roads, either scrapped or re-exported. So, there will be fewer people bidding.
We can grumble about the high COE, but we should also come out with a better solution.
Well, housing price is also another big grumbling issue.
I guess this is a sort of a "Happy" problem. People are well off and got money to spare to buy expensive cars and million dollars homes.
Last edited by La Fontaine; 25th December 2012 at 05:04 PM.
Do not be afraid [of ghost and bullies] Shoot them......
There is so many things wrong with the VEP but LTA never do anything. Tried to feedback they also ignore me.
Some selfish children may indulge in expensive cars and high COE while refusing to give money monthly to old parents. Happy situation?
Theoretically, if COE hits record (say for argument's sake - fictional only ) $1 million for small cars. Then people have to take bank loans to pay for COE. Banks will be happy. Singapore can then claim to be a rich country, since anyone driving a car on the road is a millionaire (or owes the bank at least $1 million). The revenue can build new airport terminals, hospitals, etc...
When I say $1 million, of course it is just exaggerating to illustrate the - boil a frog alive slowly - principle.
The COE keeps creeping up slowly and you do not feel the pain even if it is killing you financially.
Young couple need a car to ferry their new born babies, to parents and in laws home....
Cannot afford car or child? They have to decide?
Don't give birth now.... Buy car first, if COE goes higher then cannot afford.
After buying the car, the young couple delay family planning.
Declining child birth rate, who to blame?
end of the day it is a matter of whether LTA really seriously want to bring this Coe down
more can indeed be done to bring down to a realistic figure for the common man .... it is possible but it will kill their cash cow which are they willing to sacrifice?
80K coe is no peanuts. For many, it is not expensive either.
The problem is that coe got too cheap in the last few years. This resulted in 2 main consequences that lead to wrong expectation.
Firstly, people started to expect coe to be affordable for everyone. Expensive or cheap is just a matter of expectation vs reality. If coe had remained as a flat line 50k from the 90's till now, people will not complain so much. Kinda like putting a list price of 4.8k for a 5d3 and then retailing it for 4.2k vs putting the list price as 3.5k but retailing it as 4.2k. Doesn't take a genius to figure out which will produce happier customers who think they got a good deal.
Secondly, and more importantly, the plentiful, and thus, cheap, coe towards the end of last decade put almost everyone on the road. Everyone expects to be on the road in their private car. This lead to the congestion...and then less coe, and then less scrap, and then less quota...and thats what we have today.
Pardon me for saying this, but if one cannot even afford a used bread and butter car that can be had for about 5-6k/yr, then perhaps one should really reconsider the bigger problem of how is he going to feed his car and family.
5D III l 14/2.8 l 24/1.4L II l Σ 50/1.4 l Σ 150/2.8 macro l 28-75/2.8 l
The predecessor of Electronic Road Pricing (ERP), Singapore Area Licensing Scheme (ALS) actually exempt motorist from having to pay during peak hours as long their private vehicle is fully occupied, there are even carpool lanes to pick-up strangers where you can dump them unceremoniously in an inconvenient location after they are no longer required. Not possible with that now.
This is hugely misleading....if Msia is to do tit for tat then SG car should also pay rm50 per entry up north........also residents and working permit holders are not allowed to drive foreign plate......if the COE price is at $100 then we won't hear people complaint...but the $20/day levy is steep....and also the grid lock on the road and out of parking space because each family can own 4 cars now.Originally Posted by dniwkh
Do us a favour....tip off LTA so that they get caught.....they are not suppose to drive a foreign plate u know....and we have 1 less car competing in our spaceOriginally Posted by 9V-Orion Images
Somehow I feel he is contradicting.....people who can afford never blink because deep down they know it became more exclusive and less competition on the road and parking lot .....lol...Originally Posted by ricohflex