Seeking views on experience on Non-Guaranteed COE
Purchasing a car with non-guaranteed COE. The terms were documented, i.e. 8 bids, maximum amount for me, i.e. 115K; Distributor will exercise discretion including (a) when to bid, (b) enter bid at an 120K, (i.e. distributor can offer an amount above the authorized bid limit, but individual will be subjected to the agreed max amount), (c) category to bid, to name a few.
As per norm, the first bid was not successful. Distributor bidded way lower than the norm amount. At least 40-50K lower. I did not questioned the distributor since there was no rush for the vehicle.
However, the second bid was successful, at least when checked against onemotoring. Distributor bid 1.5K above quota premium.
I would like to ask the following:
- Does that mean that the COE has been secured?
- Given the factors (a) I am not in a rush for a vehicle and can wait for 8 bids (b) distributor need to hit target, (c) confirm order for vehicle for shipping, does it mean that the max amount I will pay is at 115K?
- What if the distributor nudged to switch to guaranteed COE even though I already knew from onemotoring that it has been secured?
Please give advice.