EPTOn cars in Singapore - Page 2
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GhoSt[shield]
Canada2131 Posts
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konadora
Singapore66163 Posts
On November 10 2013 14:04 GhoSt[shield] wrote: How does the COE affect the taxi industry in Singaopore? not too much. there are already quite a lot of taxis in singapore, most of the fleet was replaced with newer models of hyundai sonatas and toyota corollas back around 2008-2009. the only thing is taxis and regular cars (<1600cc) share the same COE, so that period of time caused a rise in COE again, which of course indirectly negatively affected potential car buyers. taxis are also generally replaced every 10 years or so (and most cars in general) because there is a COE rebate (returns on "unused" duration of the COE) as well as a rebate called PARF that is based on the OMV of the car. once beyond the 10 year cycle, the rebate amount gets significantly less. however, there are quite a few businessmen or expats who don't buy a car here because even if one takes a cab everyday throughout the year, that cost is still cheaper than owning a car itself. the problem with this is that many people (whom i've personally talked to, and even as reported in the papers) want to own a car instead of using others', such as via riding a cab, car leasing or car-pooling. it's more about the desire of ownership than anything, but of course most people have practicality in mind. it's a very particular situation in singapore QQ | ||
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gosubay
Singapore13 Posts
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MoonfireSpam
United Kingdom1153 Posts
Ahh kia su. Haven't heard that for so long. | ||
itsjustatank
Hong Kong9154 Posts
On November 10 2013 18:31 MoonfireSpam wrote: Although I'm from London, so well, it's hard to have worse public transport. You should come to Southern California. | ||
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konadora
Singapore66163 Posts
On November 10 2013 18:31 MoonfireSpam wrote: I remember reading that Singapore has the highest density of millionaires in the world or something. I vaguely remember MRT and bus being not too bad. Although I'm from London, so well, it's hard to have worse public transport. Ahh kia su. Haven't heard that for so long. yes it's true :o public transport has gotten worse over the years though (mostly because of a huge influx of foreigners/population increase), many of the "we-need-them-now" issues will only be resolved by earliest 2016 :< | ||
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Loire
Singapore1358 Posts
On November 11 2013 00:18 konadora wrote: yes it's true :o public transport has gotten worse over the years though (mostly because of a huge influx of foreigners/population increase), many of the "we-need-them-now" issues will only be resolved by earliest 2016 :< And by 2016 chances are more issues will arise because there are more people coming in. | ||
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GhoSt[shield]
Canada2131 Posts
On November 10 2013 14:13 konadora wrote: not too much. there are already quite a lot of taxis in singapore, most of the fleet was replaced with newer models of hyundai sonatas and toyota corollas back around 2008-2009. the only thing is taxis and regular cars (<1600cc) share the same COE, so that period of time caused a rise in COE again, which of course indirectly negatively affected potential car buyers. taxis are also generally replaced every 10 years or so (and most cars in general) because there is a COE rebate (returns on "unused" duration of the COE) as well as a rebate called PARF that is based on the OMV of the car. once beyond the 10 year cycle, the rebate amount gets significantly less. however, there are quite a few businessmen or expats who don't buy a car here because even if one takes a cab everyday throughout the year, that cost is still cheaper than owning a car itself. the problem with this is that many people (whom i've personally talked to, and even as reported in the papers) want to own a car instead of using others', such as via riding a cab, car leasing or car-pooling. it's more about the desire of ownership than anything, but of course most people have practicality in mind. it's a very particular situation in singapore QQ So if people sell off their cars for the COE rebate after the 10 years, whats the used car market like? Can you get some sick deals on used 10 year old Singaporean cars? I'd like to dream that its possible to get a 10 year old supercar for dirt cheap when a millionaire sells it. 10 year old GTR yes plz. Does Singapore export these 10 year old, COE rebated cars? Hmmm, if only I wasnt working on a paper due on Thursday. | ||
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konadora
Singapore66163 Posts
On November 12 2013 22:36 GhoSt[shield] wrote: So if people sell off their cars for the COE rebate after the 10 years, whats the used car market like? Can you get some sick deals on used 10 year old Singaporean cars? I'd like to dream that its possible to get a 10 year old supercar for dirt cheap when a millionaire sells it. 10 year old GTR yes plz. Does Singapore export these 10 year old, COE rebated cars? Hmmm, if only I wasnt working on a paper due on Thursday. Second-hand market has actually quite a lot of good deals. Cars that just had their COE renewed/recently bought (meaning 10 years left in their COE) are only around 1-5% cheaper, but cars can be up to 50% or more cheaper after just 2-3 years! For example, a BMW Z4 3.0 bought in 2009 can be bought for under $100k, when the original value is around $280k. Do take note that price back then may differ greatly from current price, largely due to COE prices. Cars bought around 2009 are dirt cheap as the COE difference between 2009 and 2013 is almost 80-90k. Older cars (10+ years) can be bought very cheaply as well, there are some cars that can even be bought under 5k! Just that not many people buy them so they are scrapped, mainly due to the fact that Singaporeans (and asians in general) tend to hold face value highly. Singapore rarely exports the older cars, but from what I heard, they do sometimes export old cars that are in decent condition to second-hand car dealers in developing countries rather than scrapping them to get some more value out of them. | ||
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FractalsOnFire
Australia1756 Posts
Because lets be honest, London and Singapore would have some of the world's best public transport systems since you can get to most places where you want without walking a ridiculous distance (let alone wait). Or are we playing the 'we have it bad cause it aint what it used to be' or 'im spoiled so i expect better and then thus exaggerate everything'. | ||
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Kingsky
Singapore298 Posts
On November 11 2013 00:18 konadora wrote: yes it's true :o public transport has gotten worse over the years though (mostly because of a huge influx of foreigners/population increase), many of the "we-need-them-now" issues will only be resolved by earliest 2016 :< Singapore has the highest density of millionaires because rich people migrate here to evade taxes. Singapore does not tax capital gains on stock/derivatives and 20% off salary only. the thing is rich people just get a Singaporean IC and park their money on freaking shares and such. Hell if you read the influx of hedge funds in Singapore its pretty crazy. You would think so much money flowing in here would add some GDP gains or some value into society but no not really i heard the fundies bitch over a cab fare or coffee prices | ||
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konadora
Singapore66163 Posts
On November 17 2013 00:31 FractalsOnFire wrote: What makes a public transport system bad? Poor coverage? Poor punctuality? Poor capacity? Because lets be honest, London and Singapore would have some of the world's best public transport systems since you can get to most places where you want without walking a ridiculous distance (let alone wait). Or are we playing the 'we have it bad cause it aint what it used to be' or 'im spoiled so i expect better and then thus exaggerate everything'. during rush hours the public transport is terrible. not so much because of the infrastructure, but more so on the lack to plan ahead by the government a decade ago, as well as huge influx of foreigners. such a small land with a small capacity limit, yet when the government lacks care for the people and continues to bring in rich foreigners (see above post), people do get pissed. not to mention constant floodings in roads every year (millions of dollars worth of cars destroyed) which they refuse to admit as flooding ("ponding" that happens every 50 years, real quote by government), trains breaking down during rush hour every 2 months, trains being so packed there are cases of people fainting due to lack of oxygen etc. how is that first-world transportation? it may seem like one of the surface, but take the public transport every day as part of your daily routine. you will see why everyone's so pissed at it. | ||
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