Exported used cars

[Genie47]

OK if most of you have followed this forum, a forummer has been to some African country and found our cars there being sold as 2nd hand cars.

 

I just talked to someone who has some insider knowledge. Some PIs are engaged in this export business and I believe they have literally a Golden Goose.

 

You see, most of them offer "paper value" for our cars. So they actually take in these cars at no cost at all. Yes, you read it. No cost to them. Toyotas and Nissans are highly sought after for this reason.

 

They then fork out money to ship the cars to these impoverished places like Sri Lanka or Botswana at around SGD600 per car. Yes, it costs that little.

 

When they finally arrive at the country, our used cars are sold at USD10,000 per car. In Sri Lanka it is USD10,000 because like us, they put a 3yr cap on used cars so most of the recent upgraders who gave up their SD plated cars will be there. Older > 3yrs cars end up in places like Africa because they don't have this cap. Usually cheaper but they still earn profit of up to thousands of percent.

 

Remember, the car is obtained from stupid upgraders like us for free. They made close 10,000% profit. BTW, it is not BM or other AD who does this. ADs who take in your car usually have a tie up with some exporter (usually a PI, I'm not giving names) to receive your old car. BM makes no money out of this but the amount of money the exporter makes is outrageous thanks to our cars' artificial lifespan imposed by the gahment.

 

Yes, all of you go ahead, use the most expensive synthetic oil, pump RON98 when your car doesn't need it or service it for any slight noise that does not affect performance but just annoys you.

 

Now, if anything in my car annoys me, I'll just kick or hammer the part.

Edited June 22, 2006 by Genie47

[Rapan]

Yes, read & heard somethg abt this.

 

Now qn is, is there any way we can also "recover & benefit" some of their profit for our beloved ride? Even 1-2% of their profit also good.

 

Go to PIs direct? Dun think they'll entertain us if we're not getting any new rides from them & just ask them to take in our old ride rt?

[Genie47]

Doubt so. You have heard the oft used phrase "Paper value only" .

 

Unless we form some kind of users action group to come together and export the cars ourselves but must have contact at the other country for this. Unless we have a genuine want to help us middleman, I don't think it will happen.

[Shiwao]

what else can we do?

 

we can choose to export ourselves our rides provided we know the nitty gritty details and the hassle that comes along.

 

Ok, i admit that i splurge a little on my ride. and yes, I'm regretting it now.

 

Not like some countries, other than the usual insurance thingies, dun think they have much of a cap on the life span on the vehicles, not unlike ours uniquely singapore's style.

 

we end up pay and pay faster than our pay packets can rise.

 

for the sake of prosperity, we dig a grave of economy woes till we bite the dust.

[Tanjkp]

Remember, the car is obtained from stupid upgraders like us for free.

 

Those honest agent will tell you that you can get some $XX for the body. That will mean they earn just some few $K of margin instead of getting your car and earn almost 100%.

I got $7K for a G9 slightly after 3 yrs. Not sure if a G9 can fetch US$10K at Africa.

[Alpha78]

And to think some scrap dealers take in our cars at "Paper - X%", which is like saying transferring of the paper incurs cost and they take a slight discount from the value to earn something.

 

Then the physical car is worth nothing?

[Genie47]

Maybe quit your current employment and join the export company?

[Shiwao]

very funny

 

 

yes, in fact i'm thinking along that line.. not car related, but can be considered.

[Rapan]

correct me if i'm wrong, we can go LTA to do de-registration of our car & then drive it to their "authorised" scrap yard to scrap our cars right? LTA will mail us our PARF paper in a few day's time aft that. In this DIY case, we'll not need to pay any comm to get our PARF paper.

[Rapan]

it boils down to how greedy are the exporters i guess

[Genie47]

G9 cannot fetch USD10k in Africa but confirm yes in Sri Lanka. So assuming 1USD = SGD1.60 so the car was sold for SGD16k in Sri Lanka. You got 7k for the G9 soe they got SGD9.4k assuming the shipping cost is SGD600. Still very handsome profit out of nothing!

 

So looking at all the upgraders these recent 2yrs, that is hell a lot of money!

[Shiwao]

well,

 

why not start the ball rollin'?

 

if the legal issues are ironed out.

[Lmango]

yah they make alot alot of $$......

 

I got a classmate who's in this line........

 

very rich man......

[Tanjkp]

So for those upgraders with better valued ride, ask at least for $10 or above to get back more $$.

[Tanjkp]

Sound lucrative. But be careful, even Mil $ FXXXX also get sued for $$ not returned after his car trade failed.

[Lmango]

dunno leh his biz like quite big.......

 

think he buys from the dealers here and exports the cars.....

 

not straight from car owners.

 

got volume 1

[Genie47]

That's the thing. Got volume. The volume these 2 years has been astounding!

 

Now slow down already. COE around 9k. People not interested in upgrading. Those with cars are now exhausted.

Edited June 22, 2006 by Genie47

[Tanjkp]

Right, those who get below 15K COE can't move much now.

As rebate/paper value will be <30K. How to ask for 20K to try selling 70K unit ?