Mainly it is not the car but the Certificate of Entitlement (COE).
COE prices are like Bond prices.
Although COE are not affected by interest rates movement like bonds, they follow similar buying patterns in terms of future expected prices.
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Bonds
If you expect interest rates to be going up, you will want to hold short-maturity bonds so that your money will be returned to you fast and you can re-invest it back into new higher interest paying bonds.
Cars - mainly COE
If you expect COE to go down, buy ...