Wow alot of vehicle on auction

[Lgt1977]

i think it is tip of the ice berg onli Start seeing the bearish effects alreadi..

 

Donno what i'm talking abt..? Start from page 2 of SgCarmart...

 

BTW is it a good deal to bid for and get a auctioned vehicle??

 

any comments? thanks

[B0ss]

U have to secure your own loan and do all necessary paperwork...

If I am not wrong, you have to make full payment (for the auctioned car that you won) in T+3 days. Afterwhich, you will incur some charges for each day that you did not claim the car (i.e. for each day that the car is still parked in their yard, you got to pay extra $$)

 

I think it's even more complicated if the car is a laid up vehicle. You have to get the road tax paid before you can even drive the car. Or maybe even get a tow-truck...

 

You should look at the auction documents and read the fine print carefully or, better still, consult an experienced car dealer for advice...

[Relagsingh]

if you're those superstitious sort, better dun get.

[B0ss]

Haha... True... Ever wonder why the vehicles end up as auction vehicles?

 

Maybe can change the no. plate after buying...

[Bigtoothpick]

heard that sometimes they don't come with keys... lagi troublesome

[Maroon5]

ya man...tom i will go down look look...

[Lgt1977]

oh i see...

 

thanks for your input!

[Roborovskii]

Wa. 31 vehicles.

[Curahee]

I hear from news, sporean start selling their house to liquidate liao, i think car will go first if no choice den sell property, if no choice apply bankruptcy. Anyway i heard that now wanna apply bankruptcy muz get Q no... Many ppl applying now, need to wait

[Mrlau]

31 over 500,000 cars in Singapore ?

[Try_conti]

sell car how to liquidate .... most will hv to top-up losses.

[Roborovskii]

31 in a SINGLE auction conducted by a SINGLE loans company.

http://www.sgcarmart.com/used_cars/dealer_...list.php?DL=501

 

This is solely for GE. Can't imagine how many more for other financial loan institutions.

[Mrlau]

oh ok....

 

Even if Sg to 100 loan company ? 31 x100 = 3100.

 

3100 over 500,000 ? 0.62% only....

[Roborovskii]

Tip of the iceberg... everyone is sweating too

 

Don't know what the number will be the next couple of auctions

Edited October 10, 2008 by Roborovskii

[Ichiyen]

papers only announced ressesion on thursday and now got ppl liquidating liao?

 

is the market that bad?

 

or is it just too many ppl living higher than they can afford?

[Rainbow]

U have to secure your own loan and do all necessary paperwork...

If I am not wrong, you have to make full payment (for the auctioned car that you won) in T+3 days. Afterwhich, you will incur some charges for each day that you did not claim the car (i.e. for each day that the car is still parked in their yard, you got to pay extra $$)

 

I think it's even more complicated if the car is a laid up vehicle. You have to get the road tax paid before you can even drive the car. Or maybe even get a tow-truck...

 

You should look at the auction documents and read the fine print carefully or, better still, consult an experienced car dealer for advice...

 

I also remember reading a clause that says you will be liable for all the outstanding fines incurred ...

[Marquee]

exactly, yesterday announced recession and ppl start selling their car today? Does not even logical to me.

 

If those ex-onwer are having trouble in financing their car, even GDP at 10%, they will still having problems servicing their loan.

[Speedsun]

Probably some may want cut lost now then wait till newspapers announce "Singapore unemployment rate hits 8 years high" right? By then, more sellers then buyers, these people will lose more than than they sell now.