Daily Lessons from Life 09 October 2013 - COE premiums up across the board; breaches $90k mark in luxury car category

"COE premiums up across the board; breaches $90k mark in luxury car category - The Straits Times Oct 9, 2013 SINGAPORE - The largest increases were in the luxury car and open categories, where prices for both breached the $90,000 mark for the first time since February. For cars above 1,600cc category, or luxury cars, premiums rose by 8.4 per cent to $93,500. Open COEs, which can be used for any vehicle but end up mainly for cars, jumped by 7.9 per cent to $93,889." Well, it is happening again. COE of S$100K and MORE. Lessons for me are: 1. the earlier we admit that private car is a luxury item the better; 2. as for those who said they need a private car to ferry their family members - old and young, etc - it is better that they get use to using public transportation and the inevitable inconvenience. Of course, getting around in taxi is better than MRT trains and buses especially when the destinations are NOT along MRT tracks; 3. as for those who need motor vehicles for their businesses, they should get a bigger quota since the normal private person that can afford a car will be down significantly. Of course, there is a potential for 'do differently' for vehicles for business uses e.g. public transportation companies, trucking companies, etc. Will there be a democratization of car ownership in Singapore? Very unlikely. It will be instead: 'only if you can afford it, own a private car!'.