COE prices mostly lower at latest bidding exercise

[dtrax]

Here are the latest Certificate Of Entitlement results from Wednesday's bidding exercise

Category Current COE premium ($) Previous COE premium ($)
A - Car (1600cc & below) 60,002 71,335
B - Car (above 1600cc) 70,002 75,010
C - Goods vehicle & bus 36,301 32,890
D - Motorcycle 4,001 4,502 E - Open 65,501 73,810 -

[phantom_opera]

Election aka datang ... property price down 10-15%, car prices down 20%

Swee boh??

[Kelonguni]

Election aka datang ... property price down 10-15%, car prices down 20%

Swee boh??

Nice. I like. We should write a letter to ST forum also - TDSR is causing car prices to plummet, people are buying smaller cars because of affordable COEs.

[princess_morbucks]

Nice. I like. We should write a letter to ST forum also - TDSR is causing car prices to plummet, people are buying smaller cars because of affordable COEs.

TDSR is for property loan nia.
TDSR is not considered when applying for car loan.
But after taking car loan, your TDSR will be affected if you wanna get property loan.

[Kelonguni]

TDSR is for property loan nia.
TDSR is not considered when applying for car loan.
But after taking car loan, your TDSR will be affected if you wanna get property loan.

To make sure they can clear TDSR, people are getting smaller cars. So inhumane to squeeze into them. Get my drift?

[azeoprop]

Election aka datang ... property price down 10-15%, car prices down 20%

Swee boh??

Then we should have an election every year haa haa.

[DC33_2008]

How far down can it go before end of the year?

[radha08]

How far down can it go before end of the year?

30k please so i can extend my car another 10 years tks

[phantom_opera]

@radha .. u are so generous, thanks for contributing 30k to garmen

[Kelonguni]

@radha .. u are so generous, thanks for contributing 30k to garmen

Cannot. 30k too low for him as he owns private property. Must have new CM that private property owners cannot extend COE, only can buy new cars.

*I am only trying to be sarcastic*.

[leftfield]

TDSR is for property loan nia.
TDSR is not considered when applying for car loan.
But after taking car loan, your TDSR will be affected if you wanna get property loan.

TDSR includes car loans. That's why it's call TOTAL Debt Servicing Ratio.

Credit card outstanding, renovation loans, personal loans all are included!

I have heard of people having their car loan rejected due to TDSR.

[Kelonguni]

TDSR includes car loans. That's why it's call TOTAL Debt Servicing Ratio.

Credit card outstanding, renovation loans, personal loans all are included!

I have heard of people having their car loan rejected due to TDSR.

That's why we must write to ST forum. Cars are shrinking because of this. How can?

If buy car must force sell 1 property to help people own larger cars.

Cars must be counted as 1 property in the computation of ABSD.

[phantom_opera]

Honda Civic 1.6L Auto now 126,000

[teddybear]

The highlighted one DOWN hah, they probably get some of the 10% voters who complaining but they probably get some of the 90% voters getting angry. Assume the percentage of both supporting and dissenting is the same, which is better business?

Election aka datang ... property price down 10-15%, car prices down 20%

Swee boh??

[azeoprop]

How far down can it go before end of the year?

Last time in 2008 coe was 2k only. Toyota corolla altis only 50k.

[Kelonguni]

Last time in 2008 coe was 2k only. Toyota corolla altis only 50k.

2K was in 2009. The lowest was $2 in late October 2008 I think - cheaper than a cheeseburger.

[princess_morbucks]

TDSR includes car loans. That's why it's call TOTAL Debt Servicing Ratio.

Credit card outstanding, renovation loans, personal loans all are included!

I have heard of people having their car loan rejected due to TDSR.

TDSR is for property loan.

http://www.mas.gov.sg/news-and-publi...rty-loans.aspx

Singapore, 28 June 2013 … The Monetary Authority of Singapore (MAS) will introduce a Total Debt Servicing Ratio (TDSR) framework for all property loans granted by financial institutions (FIs) to individuals1. This will require FIs to take into consideration borrowers’ other outstanding debt obligations when granting property loans. They will help strengthen credit underwriting practices by FIs and encourage financial prudence among borrowers.

http://business.asiaone.com/news/non...ject-new-rules

Car loan is NOT subjected to TDSR.
http://www.mas.gov.sg/news-and-publi...cle-loans.aspx

The maximum motor vehicle loan amount will depend on the open market value (OMV) of the motor vehicle purchased:

(i) For a motor vehicle with OMV that does not exceed $20,000, the maximum loan-to-value (LTV) is 60% of the purchase price, including relevant taxes and the price of the Certificate of Entitlement, where applicable; and

(ii) For a motor vehicle with OMV of more than $20,000, the maximum LTV is 50%.

In addition, the tenure of a motor vehicle loan will be capped at 5 years

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In summary, TDSR is for property loan.

Eg 1 - Person A earns $10k per month and has NO other loan.
He can only pay maximum $6k per month for his housing loan.

Eg 2- Person B earns $10k per month and has other loans(eg car loans , study loan, reno loan totally $3k per month).
He can only pay $3k per month for his housing loan.

[leftfield]

TDSR is for property loan.

http://www.mas.gov.sg/news-and-publi...rty-loans.aspx



http://business.asiaone.com/news/non...ject-new-rules

Car loan is NOT subjected to TDSR.
http://www.mas.gov.sg/news-and-publi...cle-loans.aspx


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In summary, TDSR is for property loan.

Eg 1 - Person A earns $10k per month and has NO other loan.
He can only pay maximum $6k per month for his housing loan.

Eg 2- Person B earns $10k per month and has other loans(eg car loans , study loan, reno loan totally $3k per month).
He can only pay $3k per month for his housing loan.

You are quoting a MAS guideline on car loans that came before the TDSR guideline. in reality, TDSR is practiced for car loans.

Buy property, bust TDSR not ok but buy car bust TDSR ok. Make sense meh?

[Kelonguni]

You are quoting a MAS guideline on car loans that came before the TDSR guideline. in reality, TDSR is practiced for car loans.

Buy property, bust TDSR not ok but buy car bust TDSR ok. Make sense meh?

What I have read previously was that if there are new loans committed before loan was actually disbursed, banks can recall or reassess amount to loan.

A affects B directly; B may affect A indirectly (my view). B may affect A directly (Leftist view).

If cars and property prices moderate may be good for the mass. Severe dependence on loans not sustainable in the long run.

[leftfield]

What I have read previously was that if there are new loans committed before loan was actually disbursed, banks can recall or reassess amount to loan.

A affects B directly; B may affect A indirectly (my view). B may affect A directly (Leftist view).

If cars and property prices moderate may be good for the mass. Severe dependence on loans not sustainable in the long run.

Long story short, MAS is frowning upon excessive borrowing in view of the low interest environment, regardless of whether it's for property or cars. Let's not forget that there are cars out there that easily cost more than an apartment so it will be counter-intituitive to apply TDSR for property loans only.