PSA: Bid for your own motorcycle COE and dont place $1.5k deposit with shop

[jasperchc]

With the curret COE at $5k, i think a lot of people are like me, go asked a dozen shops today around singapore but all dealers say no COE. The 554 unit COE from last bidding (4/5/2023) basically disappear into thin air as nobody seems to have any.

Shops are now asking us to place $1500 deposit for them to bid next round. But please please please do not give shop deposit to bid. They will just use your money to bid and drives the COE price up, at no cost to themselve, they got nothing to lose as its all your money, not theirs.

 

Instead please bid for your own COE at $1500 deposit (refundable the next day if you didnt manage to get). Go to a DBS/POSB ATM, put in your own reserve price which you are willing to pay and pay a $2 admin fee. Please dont let the dealers drive the COE price up...

 

Like, comment and share if you support.

 

 

Below are links on how to bid using ATM.

 

https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/upfront-vehicle-costs/certificate-of-entitlement--coe-.html#COE_bidding_procedure

 

https://onemotoring.lta.gov.sg/content/dam/onemotoring/Buying/PDF/COE/OCOE_ATM_Submission_Guide.pdf

 

 

• Like

   
•  

[adesmond2]

6 hours ago, jasperchc said:

With the curret COE at $5k, i think a lot of people are like me, go asked a dozen shops today around singapore but all dealers say no COE. The 554 unit COE from last bidding (4/5/2023) basically disappear into thin air as nobody seems to have any.

Shops are now asking us to place $1500 deposit for them to bid next round. But please please please do not give shop deposit to bid. They will just use your money to bid and drives the COE price up, at no cost to themselve, they got nothing to lose as its all your money, not theirs.

 

Instead please bid for your own COE at $1500 deposit (refundable the next day if you didnt manage to get). Go to a DBS/POSB ATM, put in your own reserve price which you are willing to pay and pay a $2 admin fee. Please dont let the dealers drive the COE price up...

 

Like, comment and share if you support.

 

 

Below are links on how to bid using ATM.

 

https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/upfront-vehicle-costs/certificate-of-entitlement--coe-.html#COE_bidding_procedure

 

https://onemotoring.lta.gov.sg/content/dam/onemotoring/Buying/PDF/COE/OCOE_ATM_Submission_Guide.pdf

 

 

• Like

   
•  

but remember to secure a bike as well..

later no bike = 1 month later you lose 1.5k..

[newtonianapple]

I'm happy to do that, but can you recommend some shops that will allow you to buy the bike only without COE?

[apogeeXX]

https://www.theonlinecitizen.com/2023/05/05/singapore-needs-to-move-away-from-its-broken-system-of-coe/

[apogeeXX]

if there are people continuing to buy bundled with COE, then shops will continue to do it and game the system.
Try asking anyway and just walk away if they don't sell without COE.
If enough people do that, then there will be pressure on the shops.
 

[stkoh78]

I was actually prepared to bid for my own COE in last previous bidding exercise until the government announced the fresh rulings where the T-COE can only keep for a max of 1 month from the earlier 3 months duration.

My initial plan was to secure a bike within 3 months after i have secure my T-COE. However my plan was derail as i realized that most shop do not have the bike model and bike color that i wanted . After checking with the authorized distributor that bring in the H.... brand, I was told that the the bike model was out of stock and their next shipment is in July. Due to these few factors , i decided not to bid in the last bidding exercise as I was unabled to secure my bike of my preference.

Like what someone mentioned earlier , the first rule is to negotiate with the bike shop to per-order and secure the bike in advance. Once the bike is physically at the shop , then u can prepare to to bid for your COE in next bidding exercise. Securing a T-COE bid without a securing a bike can be very risky as you do not want to end up getting a different models of your choice due to this 1 month dateline.

Also let me share my past experience while querying the pricing of the bike with some online bike sellers. One shop allowed me to self-bid my COE but i felt that the bike machine price quoted by the shop sale guy has already marked up by few hundreds dollar. I knew it cos i was comparing his quoted machine prices and his total package bike price (with COE).  Some shops sellers get turn off when i mentioned that i would like to self-bid my COE and the discussion stop.

Edited May 6, 2023 by stkoh78

[newtonianapple]

If they mark up the price of the bike, what’s the point of self-bidding? I presume the overall package with COE  will be cheaper than your own self-bid package because at the end of the day your self-bid COE will be same price as dealer-bid COE.

[stkoh78]

10 minutes ago, newtonianapple said:

If they mark up the price of the bike, what’s the point of self-bidding? I presume the overall package with COE  will be cheaper than your own self-bid package because at the end of the day your self-bid COE will be same price as dealer-bid COE.

This is my personal thought that i have observed. Naturally,  the shop sale rep has to answer tactically by not telling the customer that they have to pay $xxx extra if they are self-bidding their COE.

Edited May 6, 2023 by stkoh78

[stkoh78]

My bet is that COE bidding for Cat D is like to go up in next bidding exercise .

Bike shops that stockpiled T-COE that they secured before May , they are likely to forgo their deposit and these secured COE are likely to return back the government . Hopeful there is another COE drop in Aug

Reference : https://www.straitstimes.com/singapore/transport/450-unused-motorcycle-coes-to-be-reintroduced-in-may-to-july-quota-boosting-supply

[jasperchc]

On 5/6/2023 at 12:25 AM, adesmond2 said:

but remember to secure a bike as well..

later no bike = 1 month later you lose 1.5k..

I dont know, i always thought most shop have so many unit on display? unless its some very high end or uncommon model? but for most 2b bikes, maybe its not an issue? 

On 5/6/2023 at 11:15 PM, stkoh78 said:

I was actually prepared to bid for my own COE in last previous bidding exercise until the government announced the fresh rulings where the T-COE can only keep for a max of 1 month from the earlier 3 months duration.

My initial plan was to secure a bike within 3 months after i have secure my T-COE. However my plan was derail as i realized that most shop do not have the bike model and bike color that i wanted . After checking with the authorized distributor that bring in the H.... brand, I was told that the the bike model was out of stock and their next shipment is in July. Due to these few factors , i decided not to bid in the last bidding exercise as I was unabled to secure my bike of my preference.

Like what someone mentioned earlier , the first rule is to negotiate with the bike shop to per-order and secure the bike in advance. Once the bike is physically at the shop , then u can prepare to to bid for your COE in next bidding exercise. Securing a T-COE bid without a securing a bike can be very risky as you do not want to end up getting a different models of your choice due to this 1 month dateline.

Also let me share my past experience while querying the pricing of the bike with some online bike sellers. One shop allowed me to self-bid my COE but i felt that the bike machine price quoted by the shop sale guy has already marked up by few hundreds dollar. I knew it cos i was comparing his quoted machine prices and his total package bike price (with COE).  Some shops sellers get turn off when i mentioned that i would like to self-bid my COE and the discussion stop.

Can you share which model you are talking about? As i am looking to get honda adv/pcx 160 , now you make me a bit worried 

[stkoh78]

4 hours ago, jasperchc said:

I dont know, i always thought most shop have so many unit on display? unless its some very high end or uncommon model? but for most 2b bikes, maybe its not an issue? 

Can you share which model you are talking about? As i am looking to get honda adv/pcx 160 , now you make me a bit worried 

I looking at NC750x latest model . Normally I will check with BS as all the shops get their Hxxxx bikes from BS. 

[noobie2k22]

Yes I agree on this! Because personally have heard of cases where a certain group is doing daylight robbery with their 10k coe offer - and delaying bikers to collect bikes as they are deciding which coe paper to allocate them to (5k current or past papers)

 

such horrible tactics by dealers which we should really prepare enough cash on hand and bid for own coe to not get chopped carrot

[stkoh78]

FYI , the authorized distributor of Hxxxx and reseller has up their machine price between $300 - $700 today.

[Siphon]

If we can get all the bikers to not buy bikes for 3 months... suddenly all the shops will have alot of bikes to sell. Because they are losing alot of money from the stock COE from the last 3 months... 

Just saying hahaaa... 

[stkoh78]

Yeah , it is quite clear cut that the Dist. agent are trying to pass the deposit loss to the consumers. The resellers have to mark up the machine price accordingly due to the increased price from the Dist. agent, but actually they have already factor in their loss T-coe deposit.

Edited May 10, 2023 by stkoh78

[jasperchc]

11 hours ago, stkoh78 said:

Yeah , it is quite clear cut that the Dist. agent are trying to pass the deposit loss to the consumers. The resellers have to mark up the machine price accordingly due to the increased price from the Dist. agent, but actually they have already factor in their loss T-coe deposit.

I ask the shop, last week price was 7500, today machine price is 8200, $700 increase. Damn sad, dont even want to bid now. Now will have to scrape the current bike for $80 end of the month...

[stkoh78]

11 hours ago, jasperchc said:

I ask the shop, last week price was 7500, today machine price is 8200, $700 increase. Damn sad, dont even want to bid now. Now will have to scrape the current bike for $80 end of the month...

I actually asked the agent 2 days ago and yesterday they revised the price by $700.

There is 2 possibilities here.

1) The H Agent may revert down their price after they have recovered their T-COE deposit loss ;

2) The new machine price likely to stay at this price for sometimes as some shops may want to make the cost of the COE to be "transparent" to the consumers. They know it is harder to make profit from COE cert now so the increase the profit on the machine price.

Edited May 11, 2023 by stkoh78

[Siphon]

time to parallel import your own bikes now.  

[stkoh78]

On 5/11/2023 at 10:09 AM, jasperchc said:

I ask the shop, last week price was 7500, today machine price is 8200, $700 increase. Damn sad, dont even want to bid now. Now will have to scrape the current bike for $80 end of the month...

@Jasperchc I was at Boon Siew on 12th May . BS decided not to include the COE package together with the machine price . The PCX160 that u are targeting is current retail at $7720 (W/O COE ~ effective from 8 May) . User would need to pay for the exact amount of COE that they bid and won. Their earlier price list was more attractive as it include guarantee COE package.

The NC750x manual that i am targetting is not available and have to wait till October. BS sale rep told me that they don't bring in a lot of NC750x to Singapore as it seems to be unpopular choice for Class 2 rider. Their listed NC750x MT bike is almost as expensive as NC750x DCT model quoted by some other shop seller but they do not have stock as well .

 

[wukong]

Yes,agree, don't rely on bike shop to bid for you,they still can control the coe bidding price,if you decided the bidded coe price,your deposit will be confiscated,they won't lose anything,intact they can transfer to another buyer urgently need a bike . I suggest you bid yourself,the price will be controlled by you,as for bike you can purchase the bike first if you are afraid that you may not be able to get the bike in one month,there is no limit time for you to hold the new bike,so don't worry. I hope this will help,not to overbid the coe price in the future 

[wukong]

On 5/5/2023 at 6:02 PM, jasperchc said:

With the curret COE at $5k, i think a lot of people are like me, go asked a dozen shops today around singapore but all dealers say no COE. The 554 unit COE from last bidding (4/5/2023) basically disappear into thin air as nobody seems to have any.

Shops are now asking us to place $1500 deposit for them to bid next round. But please please please do not give shop deposit to bid. They will just use your money to bid and drives the COE price up, at no cost to themselve, they got nothing to lose as its all your money, not theirs.

 

Instead please bid for your own COE at $1500 deposit (refundable the next day if you didnt manage to get). Go to a DBS/POSB ATM, put in your own reserve price which you are willing to pay and pay a $2 admin fee. Please dont let the dealers drive the COE price up...

 

Like, comment and share if you support.

 

 

Below are links on how to bid using ATM.

 

https://onemotoring.lta.gov.sg/content/onemotoring/home/buying/upfront-vehicle-costs/certificate-of-entitlement--coe-.html#COE_bidding_procedure

 

https://onemotoring.lta.gov.sg/content/dam/onemotoring/Buying/PDF/COE/OCOE_ATM_Submission_Guide.pdf

 

 

• Like

   
•  

I had another idea, let's try not to overbid coe price for 3 months,if you need a bike can always try to get a bike with left over coe about 3 to 4 months left,at least you won't face so much lost in coe bidding and the loan interest,admin fees and so on.

[Hightech88]

I think should just abolish COE for motorcycles. It's totally pointless and immoral, not forgetting the bike price is now already a lot higher due to the tiered ARF since 2017. Adding COE to bikes now is so ridiculous. if bikes are cheaper, there will be more bikes on the road due to more car owners switching to bikes which will free up more road space.

[adesmond2]

On 5/6/2023 at 9:36 AM, apogeeXX said:

if there are people continuing to buy bundled with COE, then shops will continue to do it and game the system.
Try asking anyway and just walk away if they don't sell without COE.
If enough people do that, then there will be pressure on the shops.
 

 

On 5/16/2023 at 11:18 PM, Hightech88 said:

I think should just abolish COE for motorcycles. It's totally pointless and immoral, not forgetting the bike price is now already a lot higher due to the tiered ARF since 2017. Adding COE to bikes now is so ridiculous. if bikes are cheaper, there will be more bikes on the road due to more car owners switching to bikes which will free up more road space.

now say what also same liao.. back to square 1 as what the shops wanted.. 

their 3 months coe 12k can now be cleared and justified.. slowly they can even game on to play back to 12k.. see the consumers (excited rate) to buy motorcycles when coe drop.. haix...

[stkoh78]

There was almost 2.5 times bids (ard 1438 bids received) in this recent COE bidding exercise as compared to around 560+ bid in previous bidding exercise. This probably explained the surge in COE bike price back to 5 figure value as the bike shops are bidding merciless as they knew the cost of the COE will be bond by the bike buyer.

A lot of shop sale reps were complaining that they are too busy to answer queries either online or whatsapp when the COE was price at $5002. Now with the COE costing double this amount , there should be lesser people patrolling the bike shops now, however the COE price are likely to remain in this price range for the next 2-3 COE bidding exercises as the shops are clearing their outstanding orders.

I think a good time to bid is in end July - Aug but I doubt we will smell $5002 COE again.

Edited May 18, 2023 by stkoh78

[jasperchc]

14 hours ago, stkoh78 said:

There was almost 2.5 times bids (ard 1438 bids received) in this recent COE bidding exercise as compared to around 560+ bid in previous bidding exercise. This probably explained the surge in COE bike price back to 5 figure value as the bike shops are bidding merciless as they knew the cost of the COE will be bond by the bike buyer.

A lot of shop sale reps were complaining that they are too busy to answer queries either online or whatsapp when the COE was price at $5002. Now with the COE costing double this amount , there should be lesser people patrolling the bike shops now, however the COE price are likely to remain in this price range for the next 2-3 COE bidding exercises as the shops are clearing their outstanding orders.

I think a good time to bid is in end July - Aug but I doubt we will smell $5002 COE again.

Part of the problem is also from consumer themselves, they see cheap COE all rush to replace their existing bike, many of which still have many years of COE left. I saw so many bikers who when to bike shop after 4th May riding bike with very new number plate, dont understand why they need to buy new, what is the point of changing bike for the sake of changing? Hopefully a large percentage of them gave up after latest bidding or are force to pay the 10k COE from last round. Then next few rounds there will be less bids and result in lower coe price.

Edited May 19, 2023 by jasperchc