Thursday, November 27, 2008
COE Prediction - December 2008 1st Bidding Exercise
The local paper screamed "This is the best time to buy a car" and guess what? Many motorists believe the journalist and the showrooms were crowded over the weekend. The dealers had to increase the price as the orders keep rolling in.
Net effect is that buyers who locked in the lowest price may have to wait longer for the dealer to be successful in the bidding. Worst-case scenario is that the dealer may have priced too low and fail to get the COE even after the stipulated number of bids (may be up to six) in the purchase agreement. Buyer may be asked to top-up for COE after one or two failed attempts.
So is it really the right time to buy?
Prediction on November 27:
Category A: $7,000-8,000
Category B: $6,000-7,000
Verdict on December 3:
Category A: $7,721
Category B: $6,501