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The COE System has Failed
- Thread starter glockman
- Start date
the question should be how many millions has gone into 'unknown' pockets.......
Now tell u news to be inclusive and many sinki Kong kum
That is market manipulation. Biggest distributor will outbid and the rest must follow.
WFH has proven to be an effective way not only control but to cut traffic congestion. Why make everyone go back to office at all?
At this rate, only CEOs, politicians and money laundering crooks will have enough money to buy cars to drive.
Actually the Gov should just put a cap to the COE price to prevent over-bidding.
Singapore Voice
The COE system has failed. Spectacularly.
Before we delve into this topic, let us run a brief overview of the Certificate of Entitlement or COE. Introduced in 1990, a COE gives a person the right to own and use a vehicle in Singapore for a period of 10 years.
The number of COEs available is determined by the Vehicle Quota System (VQS) which regulates the number of vehicles in Singapore. An auction is held twice a month during which one bids for a COE.
The COE system has undergone multiple tweaks and revisions over the years, including changes to the vehicle classification categories as well as the method for computing the COE quota.
In land-scarce Singapore, there must be a system to regulate the number of vehicles. Otherwise, the roads in Singapore will be even more congested than cities such as Jakarta or Bangkok.
However, is the current COE system effective?
Watch the video to find out as we explore more.
Knn with higher ARF, imported cars are already freaking expensive and to add such high COE prices will only add more hardship to commoners who need cars for their families and work.
By capping the COE at say $10K on a first bid first serve basis, it will help to reduce vehicle ownership costs and at the same time still meet the quota requirement without over-taxing the owners.
But I guess under PAP-Gov, there is nothing wrong in collecting more monies, suck ah suck as greed knew no bounds.
The COE like the maid levy is ostensibly to control the number of cars and maids but in reality is just another avenue for PAP to raise funds , no different from GST.
If they want to restrict number of maids they can always use a quota system and restrict it to those who really need them eg those with kids below 18 or staying with elderly parents or elderly above 65 ect2.
For cars. they can restrict to only one car per household and if any family need to buy a second car, they have to buy the quota from another family who does not need them. This will mean no income for PAP
If they want to restrict number of maids they can always use a quota system and restrict it to those who really need them eg those with kids below 18 or staying with elderly parents or elderly above 65 ect2.
For cars. they can restrict to only one car per household and if any family need to buy a second car, they have to buy the quota from another family who does not need them. This will mean no income for PAP
The simple solution is to restrict COE bidding to individuals and are not transferrable. Every car owner must pay upfront cash for the COE as it is not supposed to be financed. The actual car price w/o COE may be financed up to 100%
I agree with what you mentioned.
Perhaps it started with the aim of controlling vehicle population. But along the way, it became a lucrative income source for the pap. Now it's become a sacred cash cow. And fuck them for bringing in those bloody ultra wealthy foreigners to jack up prices.
No financing allowed for COE, bidder must pay cash when bidding for COE
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Altogether now!!! HUAT AH!!!
Singapore born citizens - 35 - 39k per year
New citizens - 25k fixed ever year
Not all Singapore are born rich but imported citizens are
when wealthy foreigners replace sinkies by the millions, this will be symbolic car of sg. huat ah!
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Exactly! The pap is living the dream! Our nightmare.
The F8. Sinkies can only aspire to acquire the 1:18 scale version.
many sinkies already there beyond f6.9.The F8. Sinkies can only aspire to acquire the 1:18 scale version.
