COE bidding system needs a relook

I welcome the suggestions by Mr Richard Chan Yong Huat ("Put COE bidding in hands of buyers, not dealers"; Jan 26) and Mr Darren Ong Soon Siong ("Dealers' bids don't reflect true value"; Feb 2).

Many Singaporeans, especially the younger ones, do not understand the true cost of owning a car, let alone the certificate of entitlement (COE) bidding system.

Very often, they are at the mercy of dealers, who offer a "promotion package" and adopt a "take it or leave it" approach.

Buyers have very little say in terms of how much to pay for the COE. It is the call of the dealers, and it becomes a vicious circle, where high prices are continued with the next buyer.

The Government has called for a "car-lite" society. This does not just mean being light on car ownership. It can refer to usage as well, which would result in fewer cars on the road.

However, the term has been misinterpreted and misused by some people to profit at the expense of others.

I strongly urge the Land Transport Authority to relook the COE system so genuine buyers with a genuine need for a car can afford one.

Imran Chng Pia Ser