Tuesday, March 20, 2007

Bid for your own COE

There is a few letters in the newspaper about bidding for COE (certificate of entitlement) to use a private car.

Apparently, the buyers are not happy that the car dealers will pocket the profit from a drop in the COE price. If the price increase, the deliver is not obliged to deliver the car and can pressure the buyer to top up.

Perhaps, the car buyers should learn how to bid for the COE on their own. It may not be difficult.

If someone is knowledgeable how this can be done, send an e-mail to me. I shall share the experience. Maybe, the car buyer can get better control of the process.
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2 comments:

Anonymous said...

From what I heard, doing your own bidding is not difficult. The problem is that the car dealers are not willing to sell without COE included. If they do sell, then the terms are very unattractive.

COE bidding involves additional profit for the dealers and without it they will seek to recoup the costs in some other way.

March 20, 2007 1:51 PM
Thomas Phua's Blog said...

The pricing with the COE has a cap, seems transparent, but where did the car distributor get the amount to pay the COE when it is successful above the cap?

Example COE is cap at $10,000 and successful bid is $12,000 and buyer is successful without having to pay the additional $12,000.

Is this $2000 difference mark up from the big profit margin built into the car price?

March 21, 2007 1:44 AM

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