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So_nice

Buying cars from used car dealers? becareful!

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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 by So_nice
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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. [shakehead]

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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 ?

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erm..my car is parked around there and my job requires me to passby there sometimes. [:p]

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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

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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

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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.

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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.

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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.

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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.

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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.

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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

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Hello,

 

A newbie here looking for a "point A to point B" car, Have shortlisted the following two:

 

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. :)

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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:

 

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.

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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....

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