Darthrevan Supercharged June 3, 2013 Share June 3, 2013 There were many more dealers than buyers yesterday at used car shops, as the final weekend before loan restrictions kick in ended with a whisper. About 15 second-hand car dealers told The Straits Times that this was how it had been for several weeks, after the "panic buying" that came right after the Government's 60-day loan reprieve on certain used cars began on April 6. "There was a frenzy the first weekend after the extension was announced," said Mr Jeremy Teo, 42, a car salesman at Henly Enterprises in Ubi. He said his dealership sold almost all of its 80 eligible used cars within two weeks. The reprieve, which ends tomorrow, was granted by the Monetary Authority of Singapore after an outcry from used car dealers. It applied only to roughly 7,000 used cars acquired before the curbs kicked in on Feb 26. Source: http://www.straitstimes.com/breaking-news/...e-ends-20130603 ↡ Advertisement Link to post Share on other sites More sharing options...
Darryn Turbocharged June 3, 2013 Share June 3, 2013 It would be sad to see new and used cars face different rules. Particularly if used car rules are more liberal it will artificially prop up the price Link to post Share on other sites More sharing options...
Xers007 Supercharged June 3, 2013 Share June 3, 2013 "There was a frenzy the first weekend after the extension was announced," said Mr Jeremy Teo, 42, a car salesman at Henly Enterprises in Ubi. He said his dealership sold almost all of its 80 eligible used cars at jacked up price within two weeks. I think what he forget to mention is in red. Link to post Share on other sites More sharing options...
Mockngbrd Supersonic June 3, 2013 Share June 3, 2013 Link to post Share on other sites More sharing options...
Kangadrool Supersonic June 3, 2013 Share June 3, 2013 (edited) It would be sad to see new and used cars face different rules. Particularly if used car rules are more liberal it will artificially prop up the price This will be like HDB new and resale flats situation. Will not be surprised if 1 year old car selling at higher price than new car. Edited June 3, 2013 by Kangadrool Link to post Share on other sites More sharing options...
Tarzan666 2nd Gear June 3, 2013 Share June 3, 2013 How to know whats the left over cars which is still eligible for 100% loan.. Link to post Share on other sites More sharing options...
Soya Supersonic June 3, 2013 Share June 3, 2013 How to know whats the left over cars which is still eligible for 100% loan.. www.s----s.sg/4june lai lai, last chance to get robert-ed..... Link to post Share on other sites More sharing options...
Amirul73 Neutral Newbie June 3, 2013 Share June 3, 2013 Wah very sad leh...the used car dealers all make super huge losses on cars sial! Last time sell car at 65k earn profit of 35k...now can only earn profit of 20k...very sad man... Link to post Share on other sites More sharing options...
JesslynLin Neutral Newbie June 3, 2013 Share June 3, 2013 Wah very sad leh...the used car dealers all make super huge losses on cars sial! Last time sell car at 65k earn profit of 35k...now can only earn profit of 20k...very sad man... Your sarcasm damn power. Link to post Share on other sites More sharing options...
Hexxor 1st Gear June 3, 2013 Share June 3, 2013 This will be like HDB new and resale flats situation. Will not be surprised if 1 year old car selling at higher price than new car. MY volvo new cheaper than resale volvo (no full loan gimmick) Link to post Share on other sites More sharing options...
Porkerchong Neutral Newbie June 3, 2013 Share June 3, 2013 dealer all now happy. before rules come in only earn profit min 10k..now rules come in profit earn min 20k from jack up price for those eligible full loan cars. no wonder 2nd dealer all are blood suckers. Link to post Share on other sites More sharing options...
Hydrocarbon Turbocharged June 3, 2013 Share June 3, 2013 dealer all now happy. before rules come in only earn profit min 10k..now rules come in profit earn min 20k from jack up price for those eligible full loan cars. no wonder 2nd dealer all are blood suckers. But they will still complain, say that they are only selling half the numbers they used to sell, then some MP will make noise in parliament again. Link to post Share on other sites More sharing options...
Mcf777 Turbocharged June 3, 2013 Share June 3, 2013 www.s----s.sg/4june lai lai, last chance to get robert-ed..... funny leh.....why SPH already bought over sgcarmart and yet they are still using stcccarr or st70111 to advertise heavily on the straits times. Link to post Share on other sites More sharing options...
ATTB 2nd Gear June 3, 2013 Share June 3, 2013 Wah very sad leh...the used car dealers all make super huge losses on cars sial! Last time sell car at 65k earn profit of 35k...now can only earn profit of 20k...very sad man... I sold my car to dealer at 150k but saw them posted on Sgcarmart asking price 135k. Was sold now sia.. [laugh] Link to post Share on other sites More sharing options...
Ihave3Ballz 2nd Gear June 3, 2013 Share June 3, 2013 Very pitiful these used car dealers. Previously can buy a big fountain for their garden. Now can only buy a smaller and cheaper one. Link to post Share on other sites More sharing options...
Blackyv Turbocharged June 3, 2013 Share June 3, 2013 I sold my car to dealer at 150k but saw them posted on Sgcarmart asking price 135k. Was sold now sia.. [laugh] Why don't you offer them 110k to buy back?... Link to post Share on other sites More sharing options...
Zeally 3rd Gear June 3, 2013 Share June 3, 2013 Why don't you offer them 110k to buy back?... Great idea! Earn 40k off the shelf!! Link to post Share on other sites More sharing options...
Watwheels Supersonic June 3, 2013 Share June 3, 2013 (edited) Next thing you will hear them saying they are selling their flat, their wife & their children to keep the business afloat. Dan other dead beat businesses will follow suit cry here, cry there. Knn...no end to it. Edited June 3, 2013 by Watwheels ↡ Advertisement Link to post Share on other sites More sharing options...
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