Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
to me, COE is completely flawed as a control measure. PARF is also screwed up. and ERP to control road usage? really?
Fact is, SG has limited land and road infrastructure usage is a valid concern. But with COE, people may want to maximize usage instead ("i pay 93K for COE, so i will use non stop!" "I only paid 20k for COE! so I can afford to use it more"). And with ERP at such a low cost level, everybody just adjusted and accepted it. So now we have different policies which don't work hand in hand but definitely increase costs to consumers. and the stupid COE system is so ingrained, i dunno how Transport ministry can remove it except to give everyone a refund on residual value.
My take is, car population should be contained primarily by higher cost of maintenance. Parking costs should go WAY up. If you live in pte property, you pay your condo for extra lots or build a garage for your landed house. Either way, as long as the car isn't on the road 24/7, doesn't matter for congestion. If you live in public housing, then you have to accept higher cost to rent a car lot. this is needed because there is limited space in each housing block, and logical since HDB housing is subsidized. your rich bugger colleague in the bungalow will have to pay to build and maintain his own garage for his ten cars, so nothing to be upset about there.
Car usage should be regulated by higher ERP. Start charging 25 bucks per gantry. Already, so many ppl buy a car and take MRT/Bus, so public transport use should be encouraged. BUT public transport MUST be improved first. The train is so full, no need for SDU, you can meet a guy/girl for the first time and already get to first base cos you are pressed up against each other before you can say "how you doin". Who can blame us for wanting to drive instead.
Cities like NY, Sydney - it's accepted that parking is high and even parking lots in a apartment building become a tradable commodity. But most just take public transport. The bus system in Sydney city is so awesome, who needs a car.
COE under ballot or assigned by need is just not feasible. A car is not a necessity, it's a luxury. if you say you need a car cos you have family members going for regular medical checkups, a taxi should be sufficient. But the damn taxis are so ex and sometimes hard to find. AGAIN, public transport problems.
If i pay 93K COE and I can see the money going towards public transport improvement, i'd be a lot more satisfied. Now, i just pay thru my nose for a car to drive on the weekends, and i squeeze with other fellow commuters on the train Mon-Fri.
even at 92K COE the total cost of a car in SG isn't totally unreasonable, but the cost should be redistributed so drivers who add to congestion pay more. Does it matter if I have ten ferraris at home? I've already been taxed on the ARF/Customs/GST front. If i leave them for display only, it does nothing to road congestion anyway.
Max PARF of 75%ARF.. what's the point of restricting people from changing to new cars? Isn't that a GOOD thing ? increased safety features in newer cars, better emissions.. Govt still collects customs and GST, so what the heck is the benefit in making it less attractive to scrap a car?
And extending rebates to commercial vehicles f0r COE renewal such a great idea. now we can thank that for enabling more smoky fumes from old trucks. We should get old diesel trucks OFF the roads, not keep them on for longer!
So many policies that just don't make sense. get rid of COE & PARF, raise ERP and parking charges, put more revenue from car owners towards improving public transport for majority of citizens, and maybe people will stop seeing cars as a necessity.
arsenal62;961818 said:
??? Why kpkb ???
Donkey years back since Dr Hong Hai suggested the COE system to control Sgp car population (nothing to do with MAS) and the knn shortie Marlboro Tan eyes see $$$ hence never a intention to do it correctly. Siao arh COE is cash cow leh....1991 the COE system kick-in and $$$ flow in till no day no night so 1994 all the million $$ Mini$tar were created (rob so much $$$ liao so must kee koolie kang chor chor).
Then comes the ERP and the rest history liao. Mind you, 1994 COE also hit more than $100k and life goes on.......that time FM is tng lang so more chin-chye and make a little bit can liao he got "leng sim".
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