Parallel Importers: Recommended ones/ones to avoid

[Sugimoto]

Exodus was around for more than 10 yrs also like that

 

Exodus Global set up in year 2010, only 6 years. Where did you got your info from?

 

ACRA also showed is year 2010 liao.

[Zeddersg]

Exodus Global set up in year 2010, only 6 years. Where did you got your info from?

 

ACRA also showed is year 2010 liao.

 

Saw from here.

 

https://www.yelp.com.sg/biz/exodus-global-singapore

 

Which means there was a typo error.

[Ct3833]

..............

 

Care to speculate the reasons for this?

 

I thought recently COE quota is at the peak so there should be more sales? Something must have happened to their margins?

Let me state my disclaimer before I start to explaining, There are good PIs around, I am not saying all PIs are bad.

The reasons I said more PI may get into trouble are as follows: 

1.        Some( I shall refrain from using the word “many”) of the PIs are small companies, they do not have huge cash reserve to sustain long business drought.

2.        Some of the PI owners are opportunistic, not strategic. They set up a PI business without a long term strategic view. That means anytime they can close shop if their business outcome does not turn out to be the way they want it to be.

3.        Some PIs are not savvy business people, they do not have sufficient experience in building a sustaining pipeline, managing cash flow, marketing, customer relationship etc, this is over and above the already very challenging competitive PI business landscape.

4.        PIs are not making as much margin as many people have perceived. Especially the smaller PIs who do not importer themselves, instead they depend on buying cars from the larger importers, which will further erode their margin.

So when more customers are staying away from PIs after reading a series of bad press like now, these potential buyers will become  very careful before approaching PIs, which will certainly affect PI’s business. And when these smaller PIs do not get sufficient order to roll their cash(cash flow problem), they may decide to close shop anytime.

 

This is just my own anticipation, I could be wrong.

Edited November 8, 2016 by Ct3833

[Wt_know]

PI just want to make quick money la

simi long term, simi strategic view, simi business plan

can anytime open and close shop

the "barrier" to entry is sibei low

just 1 staff and 3 months rental of a showroom

[Freeder]

Most of the PIs are "ahem" attitude n smooth operators ...

With these kind of predators around , surely got unknowingly preys especially those who are not internet savvy...of course , got those net sexperts but like to tam pee type

Edited November 8, 2016 by Freeder

[Char]

Regardless reputable or Kuching kurap PI and AD all shouldn't collect COE money on behalf from buyer . Business can go burst anytime whether you are big or small ... just see Lehman Brother so big also bye bye .... So , Still depend on LTA whether want to do thier job or still in wonderland like e-bike/e-scooter take so long to step in .

Edited November 9, 2016 by Char

[Auron]

as my next car most probably is going to buy from a PI...

i'm just thinking of how to minimise the risk...

 

looking at my hdb carpark, there are so many new cars with number plate of the PI company that are unknown...

dun even seen before ...

 

some ppl mentioned that get from PI that import their own cars...

so for this, i need to ask to see papers like 

 

cargo clearance permit?

 

and for VAC ready stock, i should ask them to produce the LTA letter of approval?

 

n of course, just to pay the minimum 15k deposit? or something around there?

[Ct3833]

The risk is before they register your car , you need to pay full sum. I am not sure if paying through bank would help to mitigate that risk. If bank could hold payment till the car is registered, then that risk would be significantly reduced. Of you pay using bankdraft or even cheque, then as long as a car is not yet registered, the risk of being scammed is still there.

[PeterPc]

Doesn't work, Bank don't care. I'm the real life victim.....the system and law/regulation allows all these loop holes. PI will NOT hand over or register your car before the bank draft is cleared. After it's clear, they can play games like LTA system issue, paperwork issue as LTA as for more details or etc..etc...all the cock and bull story. After that, you don't get your car on that day, drag one more day, one more week and then you realized you are con!. Go police and police says it's bleach of contract, nothing to do with them. 

 

Do yourself a favor - buy from AD.................

 

 

 

 

 

The risk is before they register your car , you need to pay full sum. I am not sure if paying through bank would help to mitigate that risk. If bank could hold payment till the car is registered, then that risk would be significantly reduced. Of you pay using bankdraft or even cheque, then as long as a car is not yet registered, the risk of being scammed is still there.

 

Edited November 10, 2016 by PeterPc

[Ct3833]

Doesn't work, Bank don't care. I'm the real life victim.....the system and law/regulation allows all these loop holes. PI will NOT hand over or register your car before the bank draft is cleared. After it's clear, they can play games like LTA system issue, paperwork issue as LTA as for more details or etc..etc...all the cock and bull story. After that, you don't get your car on that day, drag one more day, one more week and then you realized you are con!. Go police and police says it's bleach of contract, nothing to do with them.

 

Do yourself a favor - buy from AD.................

Thanks Peter for sharing the valuable info. Hope you have minimized your loss.

 

Back to Auron, even VAC and chassis number are of no use. if one is out to scam people, he can use a same VAC and chassis number to collect many deposits. I am not telling you not to buy from PI but just dont want you to think you will be safe by seeing VAC and chassis number.

[Blueray]

Case flags another car dealer over complaints

 

 

The Consumers Association of Singapore (Case) has flagged a parallel importer which has incurred more than 20 complaints from customers in the past year, bringing the number of motor businesses in its alert list to five.

 

Case received six complaints against SG Auto - located in Ang Mo Kio Street 62 - between September and December last year. This more than doubled to 15 between January and October this year.

 

Case executive director Seah Seng Choon described SG Auto as "another car dealer that we are very concerned about".

.....

 

"They're informed that the company would refund the deposit if the COE bidding was unsuccessful within a certain period of time," Mr Seah said. "In the end, the company was not able to secure the COE. Instead of providing a refund of the deposit, the company came up with various excuses to delay the refund."

.....

http://www.straitstimes.com/singapore/courts-crime/case-flags-another-car-dealer-over-complaints

[jcchia]

Hear many stories abt PI. All mentioning abt deposit, delivery schedule. What about the recall n warranty ? Every buyer wants a better bite. The main carrot is the saving vs risk.

[Enye]

as my next car most probably is going to buy from a PI...

i'm just thinking of how to minimise the risk...

 

looking at my hdb carpark, there are so many new cars with number plate of the PI company that are unknown...

dun even seen before ...

 

some ppl mentioned that get from PI that import their own cars...

so for this, i need to ask to see papers like 

 

cargo clearance permit?

 

and for VAC ready stock, i should ask them to produce the LTA letter of approval?

 

n of course, just to pay the minimum 15k deposit? or something around there?

 

take 100% full in house loan with the PI

 

use the PI's cash flow to work for you and not the other way round

 

pay a little more interest but if the PI runs road during your loan tenure, you might not need to pay back the debt anymore

 

[Wt_know]

SG Auto in the news again and again and yet still in business? that say much about toothless tiger CASE

Edited November 10, 2016 by Wt_know

[Ct3833]

SG Auto in the news again and again and yet still in business? that say much about toothless tiger CASE

SG Auto con their customers by delivering car with different specification and under specification, at least they have not  run road for years . and i am too wonder why so many customers still go to them despite so many complaints. Their advertisement is always one of the largest on weekend.

[WSC]

apparantly for those PI under "Case trust" there is  insurance guarantee of S$50,000.00.  Just like guarantee of S$50,000 under FDIC - bank deposit. I think there are more than 20 car dealers in the list.

 

 

as my next car most probably is going to buy from a PI...

i'm just thinking of how to minimise the risk...

 

looking at my hdb carpark, there are so many new cars with number plate of the PI company that are unknown...

dun even seen before ...

 

some ppl mentioned that get from PI that import their own cars...

so for this, i need to ask to see papers like 

 

cargo clearance permit?

 

and for VAC ready stock, i should ask them to produce the LTA letter of approval?

 

n of course, just to pay the minimum 15k deposit? or something around there?

 

[Soya]

apparantly for those PI under "Case trust" there is insurance guarantee of S$50,000.00. Just like guarantee of S$50,000 under FDIC - bank deposit. I think there are more than 20 car dealers in the list.

$50k guarantee per car booking or as a whole business?

 

If the latter, they take 30 deposit bookings worth $10k each and run road still worth it for them.

[WSC]

you can chk with casetrust. I should think its per incident or per claim. Like what you said if aggregage limit is S$50k, its meaningless.. 

 

 

 

 

$50k guarantee per car booking or as a whole business?

If the latter, they take 30 deposit bookings worth $10k each and run road still worth it for them.