SPL Automobile

[Ian1]

Can I be considered laojiao? I've been here for more than a decade. 13 years to be exact.

 

Bought a Shuttle Hybrid full cash from SPL. Had to pay an additional $2K levy for full cash deal. Cashier's order direct to LTA. Remainder cheque to SPL after registration. Warranty by JKS. Decent workshop. Not the kind of workshop I will go to, but it is alright. So far 3 months clocked 48,000kms. No typo here. 48,000kms. Everyone at home flogs this work horse. No trouble at the workshop. Going for 5th service with JKS next week.

 

My brand new car had a small ding. They offered to respray. But it's fine to me. A car is just a work horse to me.

Wah you lucky only $2k penalty for Shuttle. I got hit $3k penalty for Vezel Hybrid for not wanting a loan with SPL.

[Privacy]

Can I be considered laojiao? I've been here for more than a decade. 13 years to be exact.

 

Bought a Shuttle Hybrid full cash from SPL. Had to pay an additional $2K levy for full cash deal. Cashier's order direct to LTA. Remainder cheque to SPL after registration. Warranty by JKS. Decent workshop. Not the kind of workshop I will go to, but it is alright. So far 3 months clocked 48,000kms. No typo here. 48,000kms. Everyone at home flogs this work horse. No trouble at the workshop. Going for 5th service with JKS next week.

 

My brand new car had a small ding. They offered to respray. But it's fine to me. A car is just a work horse to me.

u pte hire driver? 3m 48k km...

[Bryancbq]

Its quite funny why so many newbies sing praises for SPL. My experience has been nothing short of horrible thus far.

 

Place my order when coe hit 36k. 3 bids guaranteed, no rebate no top up. A day before the 3rd bidding, SE called me and tell me lta inspection fail, car not ready. Delay to nov. No offer of compensation. Nothing at all. SE say if end nov cannot deliver, then will give free upgrade to sienta hybrid G model.

 

I demanded that they give me the upgrade immediately, and to take back 5k deposit as per market norm. Signed a new contract, collected my cheque, and waited for my G model car due for delivery in nov.

 

And guesd what, last fri, my SE msged me and told me, the management says cannot deliver the car already. If u r agreeable, u can collect back ur deposit next week.

 

We all know what happened last thurs which prompted that msg on fri.

 

Well...i wont agree to that, not unless the court rule that i am only entitled to take back my deposit with zero compensation.

 

This kind of business practice is downright despicable. Its akin to the central banks having to use taxpayers' money to bail out investment banks in the 08/09 crisis. The bankers took huge risk, because they get to privatise the profits but socialise the loss.

 

This kind of business is awesome, isn't it? U sign countless contracts with buyers and take their deposits. If the price of coe goes ur way, u happily fulfill the contract and pocket the profit; if it doesn't, then just return the deposit and say u cant deliver. Sure-win bet!! Better than stock market.

 

Well...from my conversation with others, it seems like most will just take the deposit back and suck it up, and thats what the PIs are betting on. They know ppl will just quietly accept it and blame it on their luck and move on.

 

But not me. If not for the money, i want justice.

[Ian1]

Its quite funny why so many newbies sing praises for SPL. My experience has been nothing short of horrible thus far.

 

Place my order when coe hit 36k. 3 bids guaranteed, no rebate no top up. A day before the 3rd bidding, SE called me and tell me lta inspection fail, car not ready. Delay to nov. No offer of compensation. Nothing at all. SE say if end nov cannot deliver, then will give free upgrade to sienta hybrid G model.

 

I demanded that they give me the upgrade immediately, and to take back 5k deposit as per market norm. Signed a new contract, collected my cheque, and waited for my G model car due for delivery in nov.

 

And guesd what, last fri, my SE msged me and told me, the management says cannot deliver the car already. If u r agreeable, u can collect back ur deposit next week.

 

We all know what happened last thurs which prompted that msg on fri.

 

Well...i wont agree to that, not unless the court rule that i am only entitled to take back my deposit with zero compensation.

 

This kind of business practice is downright despicable. Its akin to the central banks having to use taxpayers' money to bail out investment banks in the 08/09 crisis. The bankers took huge risk, because they get to privatise the profits but socialise the loss.

 

This kind of business is awesome, isn't it? U sign countless contracts with buyers and take their deposits. If the price of coe goes ur way, u happily fulfill the contract and pocket the profit; if it doesn't, then just return the deposit and say u cant deliver. Sure-win bet!! Better than stock market.

 

Well...from my conversation with others, it seems like most will just take the deposit back and suck it up, and thats what the PIs are betting on. They know ppl will just quietly accept it and blame it on their luck and move on.

 

But not me. If not for the money, i want justice.

Pick a colour that is VItas ready and you will get it delivered within 3 days.

 

My personal experience with this company is that they still delivered the car to me when the transaction was a $6k nett loss to them.

 

They gave me a higher $55k COE when the latest closing bid was $48k COE back in Jul/Aug 2017.

 

Even if they loss money on your car, they will make it back when the revise prices for new buyers. At the end, it all evens out.

[Heartlander]

Pick a colour that is VItas ready and you will get it delivered within 3 days.

 

My personal experience with this company is that they still delivered the car to me when the transaction was a $6k nett loss to them.

 

They gave me a higher $55k COE when the latest closing bid was $48k COE back in Jul/Aug 2017.

 

Even if they loss money on your car, they will make it back when the revise prices for new buyers. At the end, it all evens out.

No offence but what you cited does not show the PI as being generous.

 

It seems that the COE is going down trend for your case. It is only when going get tough that you see the true colors of a person/company. It is giving you a higher value COE under Open cat maybe because it is trying to fulfill its order or some other reasons, the fact that it did not bid for you in that round.

 

This recent case is when COE is going upward. The company is going to suffer REAL loss if it is to honour the deal, which it decided against thinking that most customers would be glad just to be able to get back the deposit from PIs.

 

Frankly, even bigger ADs like Toyota have done it before, so it is not really that only PIs would pull this kind of stunt when COE continue to go up. Luck also play a part. Really headache when come to car buying. But please do not use a wrong case to argue that your beloved AD/PI is good. Not helping at all.

[Yellowwhale]

Yes, I am newbies on this forum and I read some of the postings before I decided to buy. If I am still working and has an income I would avoid buying from any PIs. But because the saving is quite substantial I took that risk.

 

I mentioned in my posts about some grievances. Let me elaborate so other newbies to PIs may be aware. Yes, I was told a penalty of $3k for paying cash. It was my mistake not to have asked. This also happened to agents. I bought a Mer E230 from C&C about 10 years ago and I was made to take a $60k loan that was the min. In this case SPL, I was forced to take 60% loan at 2.5% interest. But I know how to make up for the high interest. I am topping up my CPF retirement account with the same $60k to earn 4% interest. I believe I am better off.

 

Next my delivery was delayed for about 1 week because of approval delay at LTA but I was not complaining as I still have my old car good till Dec 2017. I was promised 6 weeks delivery.

 

I traded in my old car for about $30.5k and I cannot offset against my purchase price because the transaction is done by third party and hence not seamless. When I bought my previous cars from agents it was different.

 

As I wanted to retained my old car plates I had to go to LTA personally to do the transfer myself and to apply for transaction password for the third party buyer of my old car to transfer it to his company. I never had to Go to LTA to do anything in my previous purchases with agents. If you want SPL to do it they want to charge $150. Since I am retired I rather do it myself and save the money.

 

Is the risk worth it? I paid the usual $20k deposit and I was asked to pay the balance just before delivery and since I am taking 60k loan the amount was not substantial. Beside they already bidded my COE after my deposit so I felt quite safe.

 

Now that I have taken delivery I pray that the Sunrita/SPL and JKS are still around for the next 10 years since I bought warranty extensions.

 

I did mentioned that the sales rep was helpful but she is not in a position to help you if the company, Sunrita/SPL choose to renegade on the deal. Like you I will pursue for justice.

 

I try not to judge the PI, except to tell you what happened and you need to judge for yourself and evaluate if you can take the risk. This may be my last car and I don't have to think about this issue again in future. As I had finished the transaction it is unlikely that I would visit this topic again. I wish all of you safe driving and happy purchases.

[Privacy]

Yes, I am newbies on this forum and I read some of the postings before I decided to buy. If I am still working and has an income I would avoid buying from any PIs. But because the saving is quite substantial I took that risk.

 

I mentioned in my posts about some grievances. Let me elaborate so other newbies to PIs may be aware. Yes, I was told a penalty of $3k for paying cash. It was my mistake not to have asked. This also happened to agents. I bought a Mer E230 from C&C about 10 years ago and I was made to take a $60k loan that was the min. In this case SPL, I was forced to take 60% loan at 2.5% interest. But I know how to make up for the high interest. I am topping up my CPF retirement account with the same $60k to earn 4% interest. I believe I am better off.

 

Next my delivery was delayed for about 1 week because of approval delay at LTA but I was not complaining as I still have my old car good till Dec 2017. I was promised 6 weeks delivery.

 

I traded in my old car for about $30.5k and I cannot offset against my purchase price because the transaction is done by third party and hence not seamless. When I bought my previous cars from agents it was different.

 

As I wanted to retained my old car plates I had to go to LTA personally to do the transfer myself and to apply for transaction password for the third party buyer of my old car to transfer it to his company. I never had to Go to LTA to do anything in my previous purchases with agents. If you want SPL to do it they want to charge $150. Since I am retired I rather do it myself and save the money.

 

Is the risk worth it? I paid the usual $20k deposit and I was asked to pay the balance just before delivery and since I am taking 60k loan the amount was not substantial. Beside they already bidded my COE after my deposit so I felt quite safe.

 

Now that I have taken delivery I pray that the Sunrita/SPL and JKS are still around for the next 10 years since I bought warranty extensions.

 

I did mentioned that the sales rep was helpful but she is not in a position to help you if the company, Sunrita/SPL choose to renegade on the deal. Like you I will pursue for justice.

 

I try not to judge the PI, except to tell you what happened and you need to judge for yourself and evaluate if you can take the risk. This may be my last car and I don't have to think about this issue again in future. As I had finished the transaction it is unlikely that I would visit this topic again. I wish all of you safe driving and happy purchases.

gd for u!

[Kusje]

Yes, I am newbies on this forum and I read some of the postings before I decided to buy. If I am still working and has an income I would avoid buying from any PIs. But because the saving is quite substantial I took that risk.

 

I mentioned in my posts about some grievances. Let me elaborate so other newbies to PIs may be aware. Yes, I was told a penalty of $3k for paying cash. It was my mistake not to have asked. This also happened to agents. I bought a Mer E230 from C&C about 10 years ago and I was made to take a $60k loan that was the min. In this case SPL, I was forced to take 60% loan at 2.5% interest. But I know how to make up for the high interest. I am topping up my CPF retirement account with the same $60k to earn 4% interest. I believe I am better off.

 

Next my delivery was delayed for about 1 week because of approval delay at LTA but I was not complaining as I still have my old car good till Dec 2017. I was promised 6 weeks delivery.

 

I traded in my old car for about $30.5k and I cannot offset against my purchase price because the transaction is done by third party and hence not seamless. When I bought my previous cars from agents it was different.

 

As I wanted to retained my old car plates I had to go to LTA personally to do the transfer myself and to apply for transaction password for the third party buyer of my old car to transfer it to his company. I never had to Go to LTA to do anything in my previous purchases with agents. If you want SPL to do it they want to charge $150. Since I am retired I rather do it myself and save the money.

 

Is the risk worth it? I paid the usual $20k deposit and I was asked to pay the balance just before delivery and since I am taking 60k loan the amount was not substantial. Beside they already bidded my COE after my deposit so I felt quite safe.

 

Now that I have taken delivery I pray that the Sunrita/SPL and JKS are still around for the next 10 years since I bought warranty extensions.

 

I did mentioned that the sales rep was helpful but she is not in a position to help you if the company, Sunrita/SPL choose to renegade on the deal. Like you I will pursue for justice.

 

I try not to judge the PI, except to tell you what happened and you need to judge for yourself and evaluate if you can take the risk. This may be my last car and I don't have to think about this issue again in future. As I had finished the transaction it is unlikely that I would visit this topic again. I wish all of you safe driving and happy purchases.

 

Not sure how the exact calculations are made but car loan interest rates are listed differently from other types of loans (like housing). What's the EIR for a 2.5% car loan?

[Ian1]

No offence but what you cited does not show the PI as being generous.

 

It seems that the COE is going down trend for your case. It is only when going get tough that you see the true colors of a person/company. It is giving you a higher value COE under Open cat maybe because it is trying to fulfill its order or some other reasons, the fact that it did not bid for you in that round.

 

This recent case is when COE is going upward. The company is going to suffer REAL loss if it is to honour the deal, which it decided against thinking that most customers would be glad just to be able to get back the deposit from PIs.

 

Frankly, even bigger ADs like Toyota have done it before, so it is not really that only PIs would pull this kind of stunt when COE continue to go up. Luck also play a part. Really headache when come to car buying. But please do not use a wrong case to argue that your beloved AD/PI is good. Not helping at all.

Its myopic to think that once COE goes up, your dealer will bail.

 

My experience with SPL is they always keep a stockpile of Open Cat COEs on hand.

 

The price they quote to us buyers is based on a 3 month moving average.

 

In some cases, they make more, in some situations they might even loose a little on COE. The game of COE is very similar to moneychangers holding stock of currencies. Sometimes they make, sometimes they loose a little. But end game, they make more than they loose because of the buffer / margin of fluctuation that they set.

 

Your situation of late delivery, I am certain, is caused by LTA's burearcracy and delays on VITAS approval.

[Heartlander]

Its myopic to think that once COE goes up, your dealer will bail.

 

I am not being myopic! This has been proven again and again if you have been around long enough. Need I say more?

My experience with SPL is they always keep a stockpile of Open Cat COEs on hand.

 

This is true for all ADs and PIs, not only for SPL. In case you do not know.

 

The price they quote to us buyers is based on a 3 month moving average.

 

First time I heard of it, but I am not ruling out that it could be true. Anyway not affecting my perception at all, Just another way to do business. But I just wonder how it is going to attract buyers after a COE plunge, when the potential buyers do not get a good deal as there will be a lag in price adjustment. And SPL is not famous for being price competitive, should be true if that is the case.

In some cases, they make more, in some situations they might even loose a little on COE. The game of COE is very similar to moneychangers holding stock of currencies. Sometimes they make, sometimes they loose a little. But end game, they make more than they loose because of the buffer / margin of fluctuation that they set.

 

I do not want to point out the obvious - when the exchange rate for certain currency fluctuate too much, the money changers will not want to trade with that currency. This is true also for cars in case you are not aware. If the fluctuation is only like 5ks or thereabout, there is still chances of deals being honoured. Anything more than 10k difference, most likely no luck for buyers.

 

 You can explain that the PI will use the future deals to cover the current deals, but when COE is up trend, there will not be so many buyers. So impossible to absorb.

Your situation of late delivery, I am certain, is caused by LTA's burearcracy and delays on VITAS approval.

 

This could be true, but I am not sure the timeline so not so sure. My relative bought a hybrid Freed in late June and was promised delivery by end August. Too bad due to the Vitas, the ride was delivered only in mid-Sept. Although COE has gone up abit, the deal was honoured. And the PI was willing to provide a courtesy car for 2 weeks. Just a bread and butter car, but appreciated nonetheless. This is the kind of good PIs people will appreciate. If SPL is so generous, we would not be hearing it from the newbies only, or mostly newbies. By now it should be famous and ranked same as Mazda and Honda.

[Yellowwhale]

Kusje,

 

I am aware of the flat interest rate used for Hire Purchase and effective interest rate used in other loan. No I did not do an exact comparison in which case I may have to use Present Value or discounted cash flow. The exact comparison in my believe quite complex, beyond me as a layman. I left school a Long Long time ago before most people on this forum were born.

 

I just calculated what total interest I pay to the bank and what interest I gets from CPF. You can estimate mentally. That's why I wrote " I believe......."

 

Good day, roger out....

[MotoristMel]

There are PIs and there are PI with extraordinary prowess to have their customers come to car forum register new account just to sing praises like no tomorrow. 

 

Just like some car paint coating services..... 

Agreed! Also, for those who are looking at PI dealerships, PI’s have built a reputation of being able to go the extra mile in offering a wider range of models from a particular vehicle manufacturer. So, they may be able to offer substantially lower prices and are prone to revision. Lower open market value is a result of lower registration taxes, leading to lower retail prices.

[Ian1]

The best illustration I can give is the Kia Niro versus the Honda Vezel Hybrid. Both are exactly about the same OMV of about $28k to $30k and exactly the same CEV rebate

 

KIa Niro is selling $116,888k or $126,888 (if no loan and no car to offer as scrap). Vezel Hybrid is at around $103k to $106k.

 

The price difference is $13k to $20k cheaper at the PI.

 

Is the $13k to $20k savings from PI worth forgetting about warranty and the added risk of non-delivery or late delivery?

 

Those who say no, PI is not for you, AD is your preferred path for security and peace of mind.

 

While those who prefer a bargain, the added risk comes with territory.

 

Majority of purchases happen smoothly.

 

I would gladly take the $13k to $20k savings to self-warranty my car (underwrite my own warranty and risk).

[Vratenza]

That begs the question.

 

Where did the lower OMV come from model for model spec for spec?

 

All cars comes from same factory (except for some models with different factory of origin) and most importantly, all came from same individual brand manufacturer. 

 

The cost of importing the exact same car should not differ by much. 

 

If you are saying economies of scale, who has bigger economies of scale than ADs and who has bigger clout to bargain for lower import prices than the ADs? 

 

Could it be underdeclaration of the true cost of the imported vehicle by fancy paperwork? (many PIs have be caught and put to task previously) 

 

The tax saved from underdeclaration of true cost of the car, along with lower overheads, halfbaked warranties cover, it is no surprise that prices are lower. But does it mean the PI's profit are any less than the AD, car for car, specs for specs? 

How else will it explain the phenomenon where by fly by night PIs keep coming back like weeds under different pte ltd but just a round robin of same gang of people. These PIs just love to do a low profit low margin business to provide service to the community? 

 

 

 

 

 

 

Agreed! Also, for those who are looking at PI dealerships, PI’s have built a reputation of being able to go the extra mile in offering a wider range of models from a particular vehicle manufacturer. So, they may be able to offer substantially lower prices and are prone to revision. Lower open market value is a result of lower registration taxes, leading to lower retail prices.

 

[alikato]

Just read in sienta facebook thread that alot potential sienta buyers got their SPL guaranteed coe package refunded due to coe increasing so much.. this type of PI really throw face lah, earn so much from uber liao but guaranteed coe also never fulfil..

[Wt_know]

really ar? can the buyers group together and take it to small claims tribunal or sue?

perhaps no case because the so called "guaranteed coe" also got exit clause to protect the PI

then what's for guaranteed coe?

 

Just read in sienta facebook thread that alot potential sienta buyers got their SPL guaranteed coe package refunded due to coe increasing so much.. this type of PI really throw face lah, earn so much from uber liao but guaranteed coe also never fulfil..

 

Edited November 17, 2017 by Wt_know

[alikato]

really ar? can the buyers group together and take it to small claims tribunal or sue?

perhaps no case because the so called "guaranteed coe" also got exit clause to protect the PI

then what's for guaranteed coe?

I think since Uber/Lion City Rentals also lost the courtcase against SPL/Sunrita Pte Ltd, dun think individuals got much chance too, surely inside the contract got fine print of fontsize 0.2 can have escape clause for SPL..

The High Court has dismissed an application by Lion City Rentals, an Uber-owned car leasing firm, to place one of its car suppliers under court supervision.

 

Lion City Rentals, which rents out vehicles to Uber drivers, alleged that Sunrita failed to deliver an order of more than 2,400 cars on time, for which it paid over $130 million.

 

The firm applied to the court for Sunrita to be put under judicial management.

 

While businesses can continue operating under such a order, it will have to be with the court's supervision. In the meantime, they can try and turn their businesses around.

 

The dispute was heard on July 21, and Justice Vinodh Coomaras- wamy dismissed Lion City Rentals' application, with costs payable to Sunrita.

 

In a statement yesterday, RHTLaw Taylor Wessing, which represents Sunrita, said no contractual obligations between its client and Lion City Rentals were breached, as there was "no stipulated delivery date or deadline in the contract".

 

Lion City Rentals, however, claimed in its court application that all the vehicles should have been delivered by Dec 31 last year. The Straits Times understands that the orders were placed between March and June last year.

 

Sunrita, in written submissions to the court, said it delivered 2,186 of the 2,463 cars, and 277 cars were outstanding as of June 23 this year. At the time of the hearing, there were 171 cars left to be delivered.

 

RHTLaw Taylor Wessing partner Sivakumar Murugaiyan, speaking to The Straits Times, said: "Our client's position throughout has been that Lion City Rental's application for judicial management is misconceived.

 

"Leaving aside the merit of disputes between the parties, Sunrita has been in existence for nearly 50 years, and is financially sound, with significant assets."

 

Mr Murugaiyan added that the directors and shareholders of Sunrita are "very gratified" that the judicial management application has been dismissed.

 

The court also heard that Sunrita was "profitable and had net assets in excess of $20 million", said RHTLaw Taylor Wessing.

 

Sunrita's main business is property investment in Singapore, Malaysia, Thailand, the Philippines and Britain but it diversified into the car business last year.

 

Asked about the court's decision, Lion City Rentals said it will "study the verdict and explore the next steps".

 

Lion City Rentals was formed in early 2015 by Uber. The firm has been tight-lipped on its fleet size, but an ST report said in March that it had nearly 10,000 cars.

 

There are more than 42,000 private-hire cars on the roads now.

 

In 2012, before ride-hailing apps Uber and Grab entered the market, there were only close to 500 private-hire cars, which were mainly operated by limousine firms.

[Kusje]

really ar? can the buyers group together and take it to small claims tribunal or sue?

perhaps no case because the so called "guaranteed coe" also got exit clause to protect the PI

then what's for guaranteed coe?

 

Like that also can?

 

Then their guaranteed coe is not guaranteed lor. Any idea what is the specific weasel clause SPL is using to get out of the contract? I think we all need to know to make sure other PIs (or even ADs) don't have it in their contract as well.