Chongster 6th Gear May 21, 2009 Share May 21, 2009 admin fee is all bull lah.... another term they like to use is "football money" bloody hell, they already earn so much from the profit margin, loan commission, car insurance commission.... still not enough? "football money" is different from "admin fee". it is some sort of arranging fee/upfront interest/risk premium for arranging financing for COE cars. apparently the financing is in-house so greater risk. "admin fee" is what they try to charge for paper work involving the sale of the car. market rate is $500? benzworld tried to charge me when i got my first car from them. it only appeared in the final statement after i paid the initial deposit, so can't just walk away. i kpkb with them for 3 days till they finally dropped it. best was when they claimed it is to cover their cost when they arrange for financing/insurance etc. so i called both finance company and bank, and neither said there were any fees, let alone fees of up to $500. got a contact and dropped names at BW and asked for telephone conference. they dropped it. ↡ Advertisement Link to post Share on other sites More sharing options...
Ixat 1st Gear May 21, 2009 Share May 21, 2009 "football money" is different from "admin fee". it is some sort of arranging fee/upfront interest/risk premium for arranging financing for COE cars. apparently the financing is in-house so greater risk. "admin fee" is what they try to charge for paper work involving the sale of the car. market rate is $500? benzworld tried to charge me when i got my first car from them. it only appeared in the final statement after i paid the initial deposit, so can't just walk away. i kpkb with them for 3 days till they finally dropped it. best was when they claimed it is to cover their cost when they arrange for financing/insurance etc. so i called both finance company and bank, and neither said there were any fees, let alone fees of up to $500. got a contact and dropped names at BW and asked for telephone conference. they dropped it. Bro, was there a invoice that you signed when you paid the downpayment? If your copy of the invoice does not include any admin fees, they can still claim from you? Link to post Share on other sites More sharing options...
Blue-winter Neutral Newbie May 21, 2009 Share May 21, 2009 No such fee lah.... Tell them you cannot afford to pay loh... ask them take action lah in law They will sure wave it at the end of day... Consumer must be firm....sure will win.... Because this is the fee no black and white ... Link to post Share on other sites More sharing options...
Caravan 5th Gear May 21, 2009 Share May 21, 2009 Surely, u gotta bear the xfer fee right? Yes. Transfer and insurance(I sourced my own) are besides the agreed upon car price. Link to post Share on other sites More sharing options...
Chongster 6th Gear May 21, 2009 Share May 21, 2009 Bro, was there a invoice that you signed when you paid the downpayment? If your copy of the invoice does not include any admin fees, they can still claim from you? i remembered, when u put deposit, all they do is swipe card, maybe 3k. and they give u a receipt for the deposit. then based on downpayment, loan amount, insurance, transfer fee, etc, they would come up with a statement of what u need to pay to drive car away. that is not immediate but a few days later... it was at this point in time that the admin fee first surfaced... Link to post Share on other sites More sharing options...
Cttan456 2nd Gear May 22, 2009 Share May 22, 2009 Don't ever pay for such fees, no such thing even if you are not trading in your car or not taking loan or insurance or whatever from them....Just pay the price of the car + transfer fees , nothing else, that's what I always do....they have to either take it or leave it... By buying the car from them they already make a few thousand $$$.... Link to post Share on other sites More sharing options...
Gantan88 Clutched May 22, 2009 Share May 22, 2009 Just bought a 2nd hand ride few months back. Did not pay the admin fee or football fee. Negotiate with them until they gave up. Coz i told them i am not buying if they are collecting the admin fee and i turn and start walking away immediately. They know i am serious. Haha. Link to post Share on other sites More sharing options...
Forrestcat 2nd Gear May 22, 2009 Share May 22, 2009 Hey Bro, I bought a 2nd hand ride 6 months ago. Traded in my coe car for a parf car. The dealer very straight forward, no admin/agreement fee. Just the advertised price on sgcarmart + transfer fees. He also asked me to source for my own insurance/loan if i can get cheaper rates outside. Just my experience Link to post Share on other sites More sharing options...
Donut Supercharged May 22, 2009 Share May 22, 2009 now is buyer's market... car dealers are in very desperate situation now... so now is the time to squeeze them dry.... Link to post Share on other sites More sharing options...
Vextan 1st Gear May 22, 2009 Share May 22, 2009 now is buyer's market... car dealers are in very desperate situation now... so now is the time to squeeze them dry.... i dont think this is the case. on the contrary, consumers are always at the mercy of car dealers, in good times and bad times. the perception that market is bad and therefore car dealers are desperate and will lower prices or give in to consumers is purely a mirage. Link to post Share on other sites More sharing options...
Donut Supercharged May 22, 2009 Share May 22, 2009 oh yeah they will..... its up to the buyer to play the mind game with them.... each day the car sits in their garage, its losing money..... the most they can do is to export out. Link to post Share on other sites More sharing options...
Busy_cool 2nd Gear June 1, 2009 Share June 1, 2009 sorry...mind if i ask...how do we check or know if a second hand car is in good condition? and the price is not too high as what they state in depreciation per year? looking at mitsubishi i in the sgmarts....tempting.. advice? Link to post Share on other sites More sharing options...
Donut Supercharged June 1, 2009 Share June 1, 2009 getting a good 2nd hand car is like gambling..... u got to know something about cars. then u got to bring the car for evaluation by AA or STA or Vicom. personally i feel that AA is the best neutral party to do evaluation. even after it pass evaluation, it doesnt guarantee that the car is problem free. then u got to bring it to yr trusted WS for inspection. then u will know how much $$ to pay for any repairs or maintenance....... best advise is to buy from friends or someone u know personally. Link to post Share on other sites More sharing options...
Picanto 3rd Gear June 2, 2009 Share June 2, 2009 its still a matter of luck when buying 2nd hand Link to post Share on other sites More sharing options...
Godfinger Neutral Newbie June 2, 2009 Share June 2, 2009 Its pure luck when going for 2nd hand cars. Mine current car is bought from CxxTimes and there are no Admin Fee or what so ever. Just need to pay GST for the Loan amount plus Transfer Fee which I need to bear. The Dealer pushed me for the inhouse Insurance but I decline and went to look for my own. In the end, I get the same Quotation from the Dealer (Same company somemore) but I was given $50 Petrol Voucher as a Gift from the Insurance company. Have to be very careful when collecting Car. Must make sure that those items which you pointed out to them before your purchase must be rectified. Best is that you put it down in Black and white what needs to be done and counter signed by by the dealer and you. Also make sure that you get a handling over of Documents form from them since they need your original I/C for transfer at LTA. Make sure both original Keys are collected. I will make it a point to re-learn the Alarm system when I bought cars from Used Car dealer. Just in case they Dup another set of alram remote controller. Also, not to mention a complete oil change at your preferred workshop immediately after collecting car, Just in case there are sand in the Engine Oil. Link to post Share on other sites More sharing options...
Steppy Neutral Newbie June 2, 2009 Share June 2, 2009 Although you didn't pay the admin fee, I am not quite sure why are you paying GST on the loan? If you did and the dealer documented it on a invoice/receipt, I would suggest that you refer the matter to IRAS...There is no GST on loan. Link to post Share on other sites More sharing options...
Tkseah Supercharged June 2, 2009 Share June 2, 2009 Loan got GST one meh?? admin fee is prob around $3-500.. GST on $10k loan is $700.. Link to post Share on other sites More sharing options...
The_Bear Turbocharged June 2, 2009 Share June 2, 2009 the last time a SE was showing me a second hand car he had, and he asked for $500 "agreement fee", I asked him "I agree to buy you pay men issit?" ↡ Advertisement Link to post Share on other sites More sharing options...
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