Car Prize Winner ...... surprised it doesn't come with COE .

[Barnsley]

[zzm9980]

Yes, I saw this too. A Lexus IS250F Sport is a Citibank prize. No COE included.

[therat]

this is the usual case for almost all the contest I come across in Singapore.

You only won the car. That's it.

[Barnsley]

Does seem of little benefit....
Why not just give a cash prize instead?

[zzm9980]

Does seem of little benefit....
Why not just give a cash prize instead?

There are probably significant accounting differences between awarding cash and a prize. Plus partnership promotions, etc...

Besides, anyone looking to buy a new car of that class in Singapore will need at least the cost of the COE for their 50% downpayment. So if you're in the market, it's not a bad prize to win. If you're not in the market, I'm sure the dealershiper will buy the car back from you at a good profit to them.

[princessb]

COE is expensive.

[sundaymorningstaple]

Actually in hindsight the COE is still relatively cheap. The COE for a 1600 car in Sep & Oct 1994 hit $104,000. Which, in today's dollars would be around
$175,414. I know. I was here. In fact, I've been here since before inception of the COE system and it's the reason I have never owned a car since 6 months after it started (the grace period to get a COE for you existing car). I had two cars and got rid of them both.

If I'm not mistaken, I think PNGMK was also here around that time, yeah?

[Max Headroom]

I reckon most of the times a car can be won, the actual car prize is just a gimmick, especially when they state the car's retail price over and over, even more especially when a car showroom is one of the event sponsors.

By far most of the times, the car is never actually handed over, yes, in part due to the COE issue. Instead the event organizers make the winner a cash offer, typically one that's not even in the same neighborhood as their stated retail price, which the winner nevertheless jumps to accept.

Everybody happy.