So_nice 6th Gear September 17, 2007 Share September 17, 2007 (edited) read this from SHC.. take extra note when u buy cars from 2nd hand car dealers! steventcs wrote: i kana con by car dealer. drive 1mth den kana tow away by other credit company.sxxt the saler ask 2 drive 1st while he contact the owner 2 summit his docu 4 transfer.pay $2500 plus mod up for $2000 den gt nothing back.t*** huap auto4 at jalan malu malu.cheaters.advised 2 all car buyer,do not believeseller when they cant transfer the owner ship on the spot.the shockin news 2 me was my car was belong to 1 malay guy who cant pay his installment n passed it to car seller 2 sell.then the cheat buyer money n run away.in the end the other credit company tow yr car away.this is a loophole.even the police cant do anything http://www.shc-forum.com/viewtopic.php?p=1523310#1523310 Edited September 17, 2007 by So_nice ↡ Advertisement Link to post Share on other sites More sharing options...
Flight_skoda Neutral Newbie September 17, 2007 Share September 17, 2007 Link to post Share on other sites More sharing options...
So_nice 6th Gear September 17, 2007 Author Share September 17, 2007 i also bought my starlet from this dealer actually..as i worked at sembawang area, i frequently passed by the shop. no wonder recently i never see the shop open liao. run road sia...for just a couple of ks. Link to post Share on other sites More sharing options...
Hiphiphoray 6th Gear September 17, 2007 Share September 17, 2007 i see the street directory, jln malu malu is off sembawang road. U still drive in there, even though sembawang shopping centre oredi tear down liao ? Link to post Share on other sites More sharing options...
So_nice 6th Gear September 17, 2007 Author Share September 17, 2007 erm..my car is parked around there and my job requires me to passby there sometimes. Link to post Share on other sites More sharing options...
Kamikaze89 2nd Gear November 12, 2015 Share November 12, 2015 be your own judge: http://www.sgcarmart.com/used_cars/listing.php?AVL=2&DL=2766 1 Nice KaKa Lady Owner Malay Lady 1 Tai Tai Lady Owner, Very Pretty. 1 Friendly Executive Lady Driver. 1 Nice Cute Lady Owner. 1 Sweet Female Music Teacher Owner. read the descriptions yourself. sound like a psychopath scammer. deal too good to be true? http://www.sgcarmart.com/used_cars/info.php?ID=517610&DL=2766 Oct 2007 BMW 320I at 32k....less than 4k depreciation wow 2 Link to post Share on other sites More sharing options...
Victor68 Turbocharged November 21, 2015 Share November 21, 2015 This should not happen. Log paper should display owner name a d deal done with owner. If still under loan, log paper is still with loan company. Dealing will be with that company 1 Link to post Share on other sites More sharing options...
Hamburger Hypersonic November 21, 2015 Share November 21, 2015 This should not happen. Log paper should display owner name a d deal done with owner. If still under loan, log paper is still with loan company. Dealing will be with that company year 2015 already, what log paper??? even house title deed is E type. 1 Link to post Share on other sites More sharing options...
Shibadog Turbocharged November 21, 2015 Share November 21, 2015 be your own judge: http://www.sgcarmart.com/used_cars/listing.php?AVL=2&DL=2766 1 Nice KaKa Lady Owner Malay Lady 1 Tai Tai Lady Owner, Very Pretty. 1 Friendly Executive Lady Driver. 1 Nice Cute Lady Owner. 1 Sweet Female Music Teacher Owner. read the descriptions yourself. sound like a psychopath scammer. deal too good to be true? http://www.sgcarmart.com/used_cars/info.php?ID=517610&DL=2766 Oct 2007 BMW 320I at 32k....less than 4k depreciation wow 32k if under balloon scheme.. meaning the new owner does not get back parf value when car scrapped. see http://www.straitstimes.com/singapore/transport/lenders-bypassing-car-loan-curbs but yep, take whatever those pple claim with a large pinch of salt. 1 Link to post Share on other sites More sharing options...
Victor68 Turbocharged November 22, 2015 Share November 22, 2015 year 2015 already, what log paper??? even house title deed is E type. Yeah old folks difficult to change. Even paperless also got record right? Com summer must be protected so.e way mah. Otherwise then what is registration for? Go back to old barter trade. Pay then drive off. Link to post Share on other sites More sharing options...
Passion 5th Gear November 23, 2015 Share November 23, 2015 32k if under balloon scheme.. meaning the new owner does not get back parf value when car scrapped. see http://www.straitstimes.com/singapore/transport/lenders-bypassing-car-loan-curbs but yep, take whatever those pple claim with a large pinch of salt. I have think about it but can't figure how this balloon scheme work. First, if the car is registered under my name. How can the dealer take my Parf away? unless the car is still under dealer's name, then they can take the PARF at de-reg. If car is under dealer's name, then it can be quite scary. if dealer close shop, they can take the car away from owner. Link to post Share on other sites More sharing options...
Shibadog Turbocharged November 23, 2015 Share November 23, 2015 I have think about it but can't figure how this balloon scheme work. First, if the car is registered under my name. How can the dealer take my Parf away? unless the car is still under dealer's name, then they can take the PARF at de-reg. If car is under dealer's name, then it can be quite scary. if dealer close shop, they can take the car away from owner. maybe the parf value is set as the final instalment of the loan repayment? I'm not sure either. Link to post Share on other sites More sharing options...
Carnoob Supercharged November 23, 2015 Share November 23, 2015 This author wrote a very good piece on "ballooning" scheme... http://tzlee.com/blog/2012/03/balloon-scheme-loan-is-bad-for-you/ At the end of 10 years, the balance of the loan will be paid off by the PARF. 1 Link to post Share on other sites More sharing options...
Lokech34 Clutched December 2, 2015 Share December 2, 2015 read this from SHC.. take extra note when u buy cars from 2nd hand car dealers! steventcs wrote: i kana con by car dealer. drive 1mth den kana tow away by other credit company.sxxt the saler ask 2 drive 1st while he contact the owner 2 summit his docu 4 transfer.pay $2500 plus mod up for $2000 den gt nothing back.t*** huap auto4 at jalan malu malu.cheaters.advised 2 all car buyer,do not believeseller when they cant transfer the owner ship on the spot.the shockin news 2 me was my car was belong to 1 malay guy who cant pay his installment n passed it to car seller 2 sell.then the cheat buyer money n run away.in the end the other credit company tow yr car away.this is a loophole.even the police cant do anything http://www.shc-forum.com/viewtopic.php?p=1523310#1523310 Bro, Which dealer did you liase with? I was at AML recently and checking a merc E230 fro " WheelDealer " Any command about this company? Pls help Thank you Link to post Share on other sites More sharing options...
iceraider 3rd Gear December 3, 2015 Share December 3, 2015 Hi, think you can read thru this thread (http://www.mycarforum.com/topic/2685954-beware-of-2nd-hand-car-dealerspart-2-blacklist-here/page-108)on 2nd hand car dealer. Bro, Which dealer did you liase with? I was at AML recently and checking a merc E230 fro " WheelDealer " Any command about this company? Pls help Thank you Link to post Share on other sites More sharing options...
muralitamilselvam Neutral Newbie December 11, 2015 Share December 11, 2015 Hello, A newbie here looking for a "point A to point B" car, Have shortlisted the following two: http://www.sgcarmart.com/used_cars/info.php?ID=524317&DL=1028 http://www.sgcarmart.com/used_cars/info.php?ID=515690&DL=2792 The Toyota Vios 1.5E A is from Sincere Motoring Pte Ltd, while the Suzuki Swift 1.3A is from Heritage Auto Enterprise. I would like to enquire if anyone has dealt with these dealers and would like to learn more about how they go about their dealings, i.e., should I be looking for any malpractices, etc. Hoping to here from you all. Thank you. :) Link to post Share on other sites More sharing options...
Passion 5th Gear December 11, 2015 Share December 11, 2015 This author wrote a very good piece on "ballooning" scheme... http://tzlee.com/blog/2012/03/balloon-scheme-loan-is-bad-for-you/ At the end of 10 years, the balance of the loan will be paid off by the PARF. But the car ownership is me, how the dealer going to take away the PARF from me? That's what I don't understand about Balloon scheme. Hello, A newbie here looking for a "point A to point B" car, Have shortlisted the following two: http://www.sgcarmart.com/used_cars/info.php?ID=524317&DL=1028 http://www.sgcarmart.com/used_cars/info.php?ID=515690&DL=2792 The Toyota Vios 1.5E A is from Sincere Motoring Pte Ltd, while the Suzuki Swift 1.3A is from Heritage Auto Enterprise. I would like to enquire if anyone has dealt with these dealers and would like to learn more about how they go about their dealings, i.e., should I be looking for any malpractices, etc. Hoping to here from you all. Thank you. :) Suzuki swift has power output issue. Meaning the power is low, and may not be responsive. Never drive before, thus unable to comment. Vios is a good choice. But it has 2 owners. You will have to check how come change hand twice. If you ask me, I'll recommend Vios over Suzuki. As for pricing, Swift you can ask for $36k maximum. For Vios, maybe $37k or so. Put aside $2k to overhaul all the wear and tear. Link to post Share on other sites More sharing options...
Hamburger Hypersonic December 11, 2015 Share December 11, 2015 But the car ownership is me, how the dealer going to take away the PARF from me? That's what I don't understand about Balloon scheme. Suzuki swift has power output issue. Meaning the power is low, and may not be responsive. Never drive before, thus unable to comment. Vios is a good choice. But it has 2 owners. You will have to check how come change hand twice. If you ask me, I'll recommend Vios over Suzuki. As for pricing, Swift you can ask for $36k maximum. For Vios, maybe $37k or so. Put aside $2k to overhaul all the wear and tear. ownership may be yours but the bank holds may hold the collateral rights. i think.... ↡ Advertisement Link to post Share on other sites More sharing options...
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