COE quota issue
- Thread starter SpyVeilside
- Start date
rab
Well-Known Member
Re: COE quota issue
When you go to the LTA website, they show that there are some COEs as "unused". For example, in Cat A, a total of 1,379 bids received for a quota of 705 with 597 successful, 782 unsuccessful, leaving 108 unused.
Have they changed the bidding system? I didn't realise that there can be unused COEs when the number of bids far exceed the quota.
SpyVeilside;533180 said:
When you go to the LTA website, they show that there are some COEs as "unused". For example, in Cat A, a total of 1,379 bids received for a quota of 705 with 597 successful, 782 unsuccessful, leaving 108 unused.
Have they changed the bidding system? I didn't realise that there can be unused COEs when the number of bids far exceed the quota.
SuperChargeMe
Well-Known Member
Re: COE quota issue
Unused means, eg in cat A, unused 108, but next lower bid,eg $34000, has 120 bids, more than that remaining quota. If they set the bid at the lower level, it would exceed the quota. So they keep at the higher bid and carry over the unused bids to next round.
rab;533673 said:
Unused means, eg in cat A, unused 108, but next lower bid,eg $34000, has 120 bids, more than that remaining quota. If they set the bid at the lower level, it would exceed the quota. So they keep at the higher bid and carry over the unused bids to next round.
rab
Well-Known Member
Re: COE quota issue
This is quite unusual for this so called transaparent "OPEN AUCTION SYSTEM". Normally, in an open auction system, where equal bids are received, the bids accepted as successful would be determined by the time/date order in which they are received. So in this case, the first 108 of the 120 bids received for $34,000 should have been allocated a COE.
This must be really frustrating for the bidders, having gone to so much trouble and being forced to try their luck next time.
SuperChargeMe;533676 said:
This is quite unusual for this so called transaparent "OPEN AUCTION SYSTEM". Normally, in an open auction system, where equal bids are received, the bids accepted as successful would be determined by the time/date order in which they are received. So in this case, the first 108 of the 120 bids received for $34,000 should have been allocated a COE.
This must be really frustrating for the bidders, having gone to so much trouble and being forced to try their luck next time.
SpyVeilside
Well-Known Member
Re: COE quota issue
from wat I know.. this is correct.. unless they found some grey area? if have must teach leh..
from wat I know.. this is correct.. unless they found some grey area? if have must teach leh..
etan1;533680 said:
Re: COE quota issue
Bro,
Cat A and B can hold for 6 months but not transferable but Cat E (Open) can hold for 3 months and fully transferable like share/warrants..
So if you want to trade Cat E is the one...off course Cat A and B also can but you need to pay transfer fee and car get another owner...
Buy me coffee and i give a 5 mins overview of COE trading...
Bro,
Cat A and B can hold for 6 months but not transferable but Cat E (Open) can hold for 3 months and fully transferable like share/warrants..
So if you want to trade Cat E is the one...off course Cat A and B also can but you need to pay transfer fee and car get another owner...
Buy me coffee and i give a 5 mins overview of COE trading...
Slater;533757 said:
wt_know
Well-Known Member
Re: COE quota issue
what happen if dealer bid for owner cat a/b based on his/her nric
then the buyer back out or loan not approved or lose job cannot buy car liao
the cat a/b coe still can be transferred right ?
i think dealers got invisible hand to use 'shadow' IC to bid coe ? nothing is impossible and make impossible possible ... kakaka
what happen if dealer bid for owner cat a/b based on his/her nric
then the buyer back out or loan not approved or lose job cannot buy car liao
the cat a/b coe still can be transferred right ?
i think dealers got invisible hand to use 'shadow' IC to bid coe ? nothing is impossible and make impossible possible ... kakaka
Re: COE quota issue
If you bid Cat And B and chicken out you loose your deposit and after 6 months the COE is considered lapse and will add on to unused cat.....do more of this as a donation to Gov and free up the COE for the rest of the motorist and i will nominate you for Best Citizen Awards
If you bid Cat And B and chicken out you loose your deposit and after 6 months the COE is considered lapse and will add on to unused cat.....do more of this as a donation to Gov and free up the COE for the rest of the motorist and i will nominate you for Best Citizen Awards
wt_know;533761 said:
ktnpl
Well-Known Member
Re: COE quota issue
When dealer collects 10k deposit for a new car purchase, the dealer can use the money to bid for a COE on behalf of the car buyer plus an open cat COE for a future buyer, since deposit is only 5k for the period from Sep 2009 to Sep 2010.
A speculator just need 5k to long COE and at worst the loss is capped at 5k but he/she has a 3-month window period to profit from COE increases. The odds are very attractive.
If the govt wants to stop the spiralling costs, they could immediately revert to 10k deposit or even up it to match the actual bid price. If a person bids 100k, 100k should be deducted from his/her bank account. After bidding, full anount is refunded if he/she is unsuccessful or if successful, the difference between bid amount and premium is refunded. This will eliminate frivoulous and speculative bids and allow prices to settle more quickly at a level that reflects the real demand.
When dealer collects 10k deposit for a new car purchase, the dealer can use the money to bid for a COE on behalf of the car buyer plus an open cat COE for a future buyer, since deposit is only 5k for the period from Sep 2009 to Sep 2010.
A speculator just need 5k to long COE and at worst the loss is capped at 5k but he/she has a 3-month window period to profit from COE increases. The odds are very attractive.
If the govt wants to stop the spiralling costs, they could immediately revert to 10k deposit or even up it to match the actual bid price. If a person bids 100k, 100k should be deducted from his/her bank account. After bidding, full anount is refunded if he/she is unsuccessful or if successful, the difference between bid amount and premium is refunded. This will eliminate frivoulous and speculative bids and allow prices to settle more quickly at a level that reflects the real demand.
wt_know
Well-Known Member
Re: COE quota issue
there are many feedbacks and suggestions to tweak COE system to control car population minus spiralling COE prices but whether any of these suggestions will be heard .....
there is always one policy to solve all problems. YOU WANT YOU PAY ....THE MORE YOU WANT THE MORE YOU MUST PAY
there are many feedbacks and suggestions to tweak COE system to control car population minus spiralling COE prices but whether any of these suggestions will be heard .....
there is always one policy to solve all problems. YOU WANT YOU PAY ....THE MORE YOU WANT THE MORE YOU MUST PAY
Last edited by a moderator:
Re: COE quota issue
If they actually use the money collected to build more tunnels / flyovers to alleviate jams, it would be great. It's a pity that they collect money upfront (COE) and use ERPs to collect more money when using the car. Don't think drivers are getting a fair return on their contributions.
If they actually use the money collected to build more tunnels / flyovers to alleviate jams, it would be great. It's a pity that they collect money upfront (COE) and use ERPs to collect more money when using the car. Don't think drivers are getting a fair return on their contributions.
