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Guide on buying from PI

See_eff

By See_eff,
in General Car Discussion

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Weixiang_06

Weixiang_06

Clutched

finally, you found this thread liaoz... but seriously i think most PIs are [furious][furious][furious] like those shops in SLS... open, get as many business as possible, maybe one year later.. close down... then there goes the so called warranty and service....

 

IMHO, must go for PIs that have been around for long time and got good reviews from our MCFers.... Cheers in your car shopping... [thumbsup]

 

Now i know why everyone so [rifle][furious] over that Mr erm hmm. Tay incident, if I were you or your hubby, i would also [rifle][rifle]

 

Haha... wow piah, MCFers really united... pity me never joined u all for any meetings before... later people see me say, i xiao didi.... [laugh][laugh][laugh]

 

[laugh][laugh]

 

Seriously about buying from PI, you see their attitude, you like doing business with them.. later say getting ur car, got issues, they say Sorry i dun enterain you, unless you confirm buying another car... [sweatdrop]

 

If i were you or ur hubby, i would look elsewhere man....

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Weixiang_06

Weixiang_06

Clutched

CarTimes, i have read somewhere in MCF... people got some pretty bad complaints about it... reason why i could still remember coz MCFers mentioned that company is car **** and its ISO9002 certified company.. then also give stunt.... [lipsrsealed][thumbsdown][thumbsdown][thumbsdown]

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Picantorian

Picantorian

Neutral Newbie
I was actually aiming for Jazz... Then kena psycho-ed by my SE to get Civic coz got Ley-long sales during the time of purchase.

 

Now that petrol costs are rising, a bit sweatdrop.gifsweatdrop.gif

cars also got lehlong sales? rolleyes.gif

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Nutty

Nutty

4th Gear

Got ah...

 

Coz Civic usually 70k+

 

Then during my time, it's selling at 64.3k for 6 years loan. If take 7 year loan, only 62.8k. [:)]

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See_nik

See_nik

Neutral Newbie
(edited)

Fr the Mother-Guide .....

 

2. Understand how the car is priced.

 

The advertised price can be extremely deceiving. The price may be with or without COE. Or with Off-peak COEs. Or with COEs pegged to ridiculous figures. The best way of pricing to you would be "Immediate Delivery", and expect the car to be delivered within the week. If you can get it cheap at this price, go for it. Just make sure that it is not a rejected car (check wrappings, wear and tear, odometer etc). Some even advertised "Guaranteed Delivery". This may sound funny to people used to buying from Authorised Agents ....BUT one of the greatest problem with PIs is they DON'T deliver on time; may be MONTHS before you actually take possession of your ride! And what if they close down before you get your ride? Will you get your deposit back?

 

Often the price quoted is after financing. E.g. actual price is $80K but they advertise as "77K". This may be after rebates of ?months installment depending on ?loan (70-100%) and duration (3-10 years). Interest can be significant, e.g. at 3% interest, for 80% loan for 5 years, interest is $80,000 X 0.8 X 0.03 X 5 =$9600. For just another .5% ...i.e. 3.5% interest - $80,000 X 0.8 X 0.035 X 5 = $11200. Anyone wants to work out the interest for 90% loan at 4% interest for 10 years?

 

Let me give another more extreme example. Actual price is $85K. Must pay $15K downpayment and take $70K loan for 10 years at 4% interest. The monthly payment is only $858.00 ...... sounds affordable? If OK, sign here and here and here and we will give $10,000 rebate so your Accord is only $85K -$10K = $75K. Good deal right? Must sign by today; offer only this weekend. And so after much pressure-selling tactics including freebies here and there, the bewildered customer signs.

 

Lets work out the actual price of the special "$75,000" Accord this-weekend-only offer (Condition applies).

 

$70,000 X 0.04 X 10 = $28,000.

Total Price - $28,000 + $70,000 + $15,000 = $113,000

Of course can give $10K rebate .... the final cost is still $113,000 - $10,000 = $103,000

 

So how did we work out the $858 /mth repayment?

 

$103,000 / 10 / 12 = $858.33

 

Quoted price may require you to take some form of minimal loan. Always start with price of car before any financing rebates.

Edited by See_nik
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