i also pek chek thinking to sell my mpv for Goods Vehicle now locked out of mkt already
2nd hand mkt dunno will die or notAnyone booked a BMW last night?
- Thread starter UncleFai
- Start date
i also pek chek thinking to sell my mpv for Goods Vehicle now locked out of mkt already
2nd hand mkt dunno will die or not
Once upon a time, car was never in the equation of must have items in life.
Once upon a time, car loan was pegged to 70% LTV and max 7 years repayment, where elsewhere in the world, the norm is 70% LTV and 5 year repayment.
While i can understand the deep disappointment of many aspiring car owners, and the immediate reaction was to blame the government and the rich.
But the rich are also badly affected by the new tiered ARF scheme.
If you look at the vehicle population statistics by LT (http://www.lta.gov.sg/content/dam/l...ch/files/FactsandFigures/M06-Vehs_by_Type.pdf), we have almost 1m vehicles in the country with 5.3m population. That is almost a ration of 1:5
If you count only private cars, we have about 606,000 cars. The ratio to 5.3m population is 1:8.75
Using the same ratio and extrapolate it to 6.9m population, we will have 788,600 cars (by 2030)... together with rental cars and taxis, and the population, we will have traffic situation not dissimilar to Bangkok, KL or Jakarta. Worse if without the infrastrusture upgrade planning now.
But of course, for now, nobody will care. The one and only thing everybody lament is, my car ownership dream is up in the air.
Once upon a time, car loan was pegged to 70% LTV and max 7 years repayment, where elsewhere in the world, the norm is 70% LTV and 5 year repayment.
While i can understand the deep disappointment of many aspiring car owners, and the immediate reaction was to blame the government and the rich.
But the rich are also badly affected by the new tiered ARF scheme.
If you look at the vehicle population statistics by LT (http://www.lta.gov.sg/content/dam/l...ch/files/FactsandFigures/M06-Vehs_by_Type.pdf), we have almost 1m vehicles in the country with 5.3m population. That is almost a ration of 1:5
If you count only private cars, we have about 606,000 cars. The ratio to 5.3m population is 1:8.75
Using the same ratio and extrapolate it to 6.9m population, we will have 788,600 cars (by 2030)... together with rental cars and taxis, and the population, we will have traffic situation not dissimilar to Bangkok, KL or Jakarta. Worse if without the infrastrusture upgrade planning now.
But of course, for now, nobody will care. The one and only thing everybody lament is, my car ownership dream is up in the air.
another 3 years, my car scrap.... not buying any more as kids will be grown up and in primary school. no point and i trust the gahment should be able to make the public transport better.... if they cannot then think of car again.
Trust me, in 3 years,.. COE will plunge to a level that you can afford to buy a car again and with car dealers' generous overtrade, you wont have to pay a lot of downpayment, and MAS will look the other way because its GE year.
Isn't the new policy better for those who want to buy an entry level Jap or Korean car with OMV less than 20k? Imagine having to pay for the inflated COE and overall more interests on the loan for the previous unregulated policy. Having to fork out more initial payment will also curb those with no excess cash to want to buy a car on credit.
For Singapore context, improvement to public transport is the only way. Car ownership is something people just got to pay, no 2 ways about this. I cannot imagine a fair or better way.
Just hope that between the so called private operators, they share this common national interest and not just profit margin. I still feel that public transport should not be commercialized. Just like the police or hospitals. They are to serve the public nit making profits.
Car ownership is a luxury item except for business use. So, paying a premium is fair. If you got money buy private properties otherwise. HDB are made affordable for you concept.
Just hope that between the so called private operators, they share this common national interest and not just profit margin. I still feel that public transport should not be commercialized. Just like the police or hospitals. They are to serve the public nit making profits.
Car ownership is a luxury item except for business use. So, paying a premium is fair. If you got money buy private properties otherwise. HDB are made affordable for you concept.
Today newspaper still have a lot of adverts on car. None has mentioned got to pay 50% leh. And a few even claim can drive away for less than $10k. I am a bit confused at this stage how this is all developing....
the only thing "public" about public transport operators is being publicly listed.
guess which ultimate shareholder is demanding year on year profit growth? tumor sick holdings!
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