I think this secondary school kid's idea is feasible.
We don't have to stop people from profiteering from this scheme. We have to make them realise that this will be their one and only 'cheap' car in their lifetime. Yes, they can profit from it (instead of the profits going into the gahmen's coffers), but their next car(s) wil never be at such good price anymore.
This may achieve a few things:
1) potential first-time buyer will consider hard before diving into their first purchase. Perhaps this may space out demand.
2) potential first-time buyer will consider hard before profiteering.
3) transfer the wealth from the rich to the poorer. i.e., the wealthier may go into the secondary market to buy out the right to first time car-ownership
in a logical world, this may be the case, but there might be certain difficulties in reality...
as has been seen in the HDB resale situation, there are people who do not closely consider all the financial outcomes of their choices, like people who think to cash in their existing flat for a "good price" but had not considered that they would also have to pay someone else a "good price" for a replacement, resulting in many of those cases of people who have no homes, end up camping in parks on a semi-permanent basis, and then blaming the Gov for not providing affordable housing for them...
then there is the possibility of people rushing to take advantage of this proposed "first car" policy on the expectation of turning over the car or at least the entitlement for this car, end up with significant loans to buy the car, but if some financial situation were to cause changes in the market structure (eg. the sudden surge in supply from people turning over their "first car" policy cars over demand of people who actually want to own cars; a sudden, significant tightening of credit, as some have pushed for to control inflation; fluctuation in car prices and/or interest rates due to influx of buyers/sellers; etc.) for the resale of such "first cars", people could be saddled with an unwanted car with a loan the person/s might not be able to sustain, like a car-version of a subprime crisis...
then everyone will start complaining about the Gov again, how they did not regulate or foresee the problems, only care about the well-to-do who might actually end up with cheaper cars if there is a destabilization of car prices due to a surge in car supply from the "first car" policy... as Kei said,
fair or not, the loser will always make noise about it and claim it's unfair
ultimately we ourselves have to take care of our own needs vs our own wants...
Yes... much like Greek government right... give and give until bankruptcy. Then people Vote in a new government, thinking that they no longer have to service their debt. If Democracy meant taking as much as we want without a care... S'porean really deserved to live in the state we are in... :thumbsd:
exactly
but this post is not to discourage discussion about possible solutions, especially from our younger members... it is only with open discussions that we can look for better solutions and outcomes
