Unltd 5th Gear March 7, 2014 Share March 7, 2014 (edited) Guys check with you on your opinions and seek some answers. If you buy a car from a big AD and they only have a non guaranteed COE bid. When they are bidding, can they not participate and not bid in maybe the 3rd bid? The excuse is it's higher than the rebate amount, but previous bids they had already participated even though it was also higher than the rebate amount? Is it tantamount to failure in their obligation? Or it is normal practice? If it is acceptable practice than they don't consider it as part if 4 bids, they can hold you based on that paper and you are stuck without options to buy other cars and makes cause you signed the agreement with them to allow them to bid? Ppl with knowledge and experience please chip in, opinions are welcomed. Edited March 7, 2014 by Unltd ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Little_prince Supersonic March 7, 2014 Share March 7, 2014 Guys check with you on your opinions and seek some answers. If you buy a car from a big AD and they only have a non guaranteed COE bid. When they are bidding, can they not participate and not bid in maybe the 3rd bid? The excuse is it's higher than the rebate amount, but previous bids they had already participated even though it was also higher than the rebate amount? Is it tantamount to failure in their obligation? Or it is normal practice? If it is acceptable practice than they don't consider it as part if 4 bids, they can hold you based on that paper and you are stuck without options to buy other cars and makes cause you signed the agreement with them to allow them to bid? Ppl with knowledge and experience please chip in, opinions are welcomed. normal practice. unethical. but normal. trying to force you to top up. 1 Link to post Share on other sites More sharing options...
Wt_know Supersonic March 7, 2014 Share March 7, 2014 (edited) dealer can ask buyer to go fly kite but not the other way round. too bad. Edited March 7, 2014 by Wt_know Link to post Share on other sites More sharing options...
Carnoob Supercharged March 7, 2014 Share March 7, 2014 very normal, just unethical but still legal. Link to post Share on other sites More sharing options...
Crazyliao Neutral Newbie March 7, 2014 Share March 7, 2014 this is the best way AD can borrowed money from buyers without paying any interest. if they need money and loan from banks, need to pay interest. they advertised and get all the buyers to paid deposit...and they can have a big sum of money to run their business and no interest needed. end of the day, they just need to pay back the buyer the same amount and still laughing. 1 Link to post Share on other sites More sharing options...
Soya Supersonic March 7, 2014 Share March 7, 2014 Guys check with you on your opinions and seek some answers. If you buy a car from a big AD and they only have a non guaranteed COE bid. When they are bidding, can they not participate and not bid in maybe the 3rd bid? The excuse is it's higher than the rebate amount, but previous bids they had already participated even though it was also higher than the rebate amount? Is it tantamount to failure in their obligation? Or it is normal practice? If it is acceptable practice than they don't consider it as part if 4 bids, they can hold you based on that paper and you are stuck without options to buy other cars and makes cause you signed the agreement with them to allow them to bid? Ppl with knowledge and experience please chip in, opinions are welcomed. If it's 4-bid non-guarantee, u juz hv to wait it out for 2 mths. Did u check the LTA website to see if the quoted selling price was realistic? i.e. for example, their total basic cost is $100k and they 'sell' u at $90k. If so, be prepared to top up as they were probably betting on COE going down. In any case, the AD and salesman doesn't make any $$ until they deliver the car to u so the pressure is on them to secure a COE for u. For all u know, they may juz buy an open cat at the end. In all these years of buying new cars, i've never paid extra for 'guaranteed' COE but always got me the car in the end. And I'm too cheap to pay full retail. So there's still hope. 3 Link to post Share on other sites More sharing options...
Wt_know Supersonic March 7, 2014 Share March 7, 2014 beware of small PI ... they may even give grandpapa grandmama excuses in order to slowdown the process returning deposit to buyer this is the best way AD can borrowed money from buyers without paying any interest. if they need money and loan from banks, need to pay interest. they advertised and get all the buyers to paid deposit...and they can have a big sum of money to run their business and no interest needed. end of the day, they just need to pay back the buyer the same amount and still laughing. Link to post Share on other sites More sharing options...
Mcfguy 1st Gear March 7, 2014 Share March 7, 2014 When the car price is too good to be true...be aware... Link to post Share on other sites More sharing options...
Vinceng Turbocharged March 7, 2014 Share March 7, 2014 (edited) My friend booked Toyota Corolla Altis at promo price of $97K in March 2013. COE was $60K+ then. Out of total 3 months bids, Borneo Motors did not place bids a few times. At the final bid, my friend was outbid at the last minute at 1559hrs by $1. Makes absolute business sense not to secure my friend's COE, and give the COE to another buyer who paid $120K. The BIG mistake in the COE system is to allow distributors' to bid on buyers' behalf and manupulate prices. Buyers should bid for COE themselves and take that COE to the car showroom to purcahse and register a brand new car. But i don't see why the LTA should implement this system and kill their cash cow. Edited March 7, 2014 by Vinceng 9 Link to post Share on other sites More sharing options...
Vid Hypersonic March 7, 2014 Share March 7, 2014 Non guaranteed COE always mean you need to top up 1 Link to post Share on other sites More sharing options...
Unltd 5th Gear March 7, 2014 Author Share March 7, 2014 Thanks for all replies. I was never offered a guaranteed bid in the first place. Just surprised they didn't even bother to bid. And it is not a small dealer. It is actually a big AD 1 Link to post Share on other sites More sharing options...
Achee 4th Gear March 8, 2014 Share March 8, 2014 Thanks for all replies. I was never offered a guaranteed bid in the first place. Just surprised they didn't even bother to bid. And it is not a small dealer. It is actually a big AD Its all about prioritizing their limited resources. If AD has many other bookings where buyers pay higher price than yours (higher price = higher profit), it doesn't take a rocket scientist to tell which group of buyers AD should focus to bid for the COE. 3 Link to post Share on other sites More sharing options...
Kangadrool Supersonic March 8, 2014 Share March 8, 2014 First, they look at the price you paid. Second, how much discounts or no discount given. Third, how much "freebies" giveaways, including servicing credits, accessories, etc. Those top on the priority list are mostly corporate buyers. Its all about prioritizing their limited resources. If AD has many other bookings where buyers pay higher price than yours (higher price = higher profit), it doesn't take a rocket scientist to tell which group of buyers AD should focus to bid for the COE. 2 Link to post Share on other sites More sharing options...
Dragonfly1 1st Gear March 8, 2014 Share March 8, 2014 Thats way never fair for AD to bid on our behalf…. they are holding all the cards! No surprise Sillypore has the highest standard of living! Beg me to understand why people still wants to buy new car! Thanks for all replies. I was never offered a guaranteed bid in the first place. Just surprised they didn't even bother to bid. And it is not a small dealer. It is actually a big AD Link to post Share on other sites More sharing options...
Throttle2 Supersonic March 8, 2014 Share March 8, 2014 My friend booked Toyota Corolla Altis at promo price of $97K in March 2013. COE was $60K+ then. Out of total 3 months bids, Borneo Motors did not place bids a few times. At the final bid, my friend was outbid at the last minute at 1559hrs by $1. Makes absolute business sense not to secure my friend's COE, and give the COE to another buyer who paid $120K. The BIG mistake in the COE system is to allow distributors' to bid on buyers' behalf and manupulate prices. Buyers should bid for COE themselves and take that COE to the car showroom to purcahse and register a brand new car. But i don't see why the LTA should implement this system and kill their cash cow. Yes, we have been screaming for policy to change. Buyers to bid for COEs themselves , COEs to be non transferable and paid in cash upfront. The current system simply screws the consumers, big big. 5 Link to post Share on other sites More sharing options...
Achee 4th Gear March 8, 2014 Share March 8, 2014 Yes, we have been screaming for policy to change. Buyers to bid for COEs themselves , COEs to be non transferable and paid in cash upfront. The current system simply screws the consumers, big big. So are these AD doing car buyers a 'service' as our gahmen claimed? The answer is crystal clear! Link to post Share on other sites More sharing options...
Dragonfly1 1st Gear March 8, 2014 Share March 8, 2014 Govt doesnt care ordinary middle class screwed by the AD right??? Provided keep the $$$$$ flow in to govt coffins…... So are these AD doing car buyers a 'service' as our gahmen claimed? The answer is crystal clear! 1 Link to post Share on other sites More sharing options...
Baal Supersonic March 8, 2014 Share March 8, 2014 So are these AD doing car buyers a 'service' as our gahmen claimed? The answer is crystal clear! Imo, these ADs are practicing insider trading.....period. and those who know but allow it to continue are equally guilty. ↡ Advertisement Link to post Share on other sites More sharing options...
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