PI say want to sue my friend... how ah?

[RadX]

ai mai...mai suat

[Sony]

sure.. I prefer to build my own island.. one that can move with the money..

 

going to bahamas is just using petty cash.. we will be rich if "someone" buy into our biz

[Sony]

nah... tiger like moving food

[RadX]

also ah...where got buyer so goondu never take sales agreement copy

 

must be virgin driver...so better stay off roads...one kayu les

[Hishercar]

i only know one is you and the other is guyver

[Eyke]

Bro, don't teach the wrong thing. First thing first, you haven't seen his sales agreement yet.

 

teach wat wrong thing?

 

i only state that as far as LTA is concerned, the COE under his name and the $9,998 credit belongs to him.

 

don't read what's not there.

Edited November 22, 2008 by Eyke

[Naimster]

What does guaranteed COE actually mean?

 

If i agree a deal with PI for guaranteed 6-bids COE, and paid him a $1k deposit.

why would i be implicated when I am willing to give up my deposit and not complete the deal for the new car?

 

Isn't that the reason why deposit is collected in the first place in the event that I backout..

 

That is an idealistic way of looking at thngs, but in real life, almost all sales agreement comes with terms and condition written by the lawyers to make backing out much more painful. In it contains clauses that allow them to get back from you basically everything they stand to lose, including the profits they could have made.

 

I am afraid it"a more than just losing your deposit. I have friends in the car business and they are smart enough to make sure they are well covered.

Edited November 22, 2008 by Naimster

[Chosenone]

My friends booked a car with PI. Supposedly 6 bid guaranteed COE.

 

I don't wish to pour cold water but if you were to analyse the sales contract from the other extremity:

 

- Dealer's sales price include the projected COE cost of $10K and agreed, in the sales agreement to gaurantee a COE within 6 bids.

- Assuming COE suddenly shot through the roof and hovers above $30K for the next 6 bids.

- PI claims that he is unable to secure your COE as it is too high and request for you to do a top-up. You, of cos, will refuse as it is stated in black and white, guaranteed COE within 6 bids. Dealer MUST deliver your ride.

- If PI breaches the contract, will you sue him? DEFINITELY.

 

P.S. Jus offering an alternative point of view.

.....

[Blue850r]

Casino not yet open leh, cannot say buy car also become gamble with PI. If CE rocket to 80K, they also wont honour the deal even with black and white. Surely, we this group of car buyer who choose to buy from PI is want everything to our favour, squeeze everything till the dealer is dry, China sport rim, fake leather, China HiFi with TV/Video, etc....whatever they can give. But we are also kind in a way to let them earn some interest from our high loan. They earn our interest thru 10 yr loan probably 4K or 5K so for PI to give us back some accessories is fair mah.

 

So now the difference is $2 COE vs previous 10+K, sure we pain. Next time sell car is based on $2 COE rebate. If we dont play some trick to avoid this pitfall, we would had gone to buy from agent and let them earn some money for their beautiful showroom and after service warranty.

 

Please understand our PI customer mentality.

[Sony]

also ah...where got buyer so goondu never take sales agreement copy

 

must be virgin driver...so better stay off roads...one kayu les

 

 

what to do... greed take center stage

[Lab4games]

in this case since COE already in the buyer's name, just give $10K + $deposit to the dealer and go buy another car.

 

 

isn't this better than "begging" the dealer to rebate me with $5k or $6k?

 

Ideally i lose $1k deposit but if i can find a car priced at $30000 without COE and with all taxes, the total amount i actually need to forked out is $31000. $30000-$9998+($11000)

 

with dealer charging me $40k for the same car with coe and then later on i beg him to rebate me and he rebate me with $5k, end up still pay more for car.

[Chrispie]

I agree with the bros here that when you sign the agreement for guaranteed COE, you lose liao..(easy to say on hindsight of coz, since $2 COE is hardly pre-conceived). And I am sure that the agreement will safeguard the interest of the dealer and not yours. The problem with many of us is we do not really bother to read the fine prints.

 

You got happy, in anticipation of the car, just sign wherever the dealer put a little cross on. No questions asked. Now when COE plummeted, you just felt how stupid you were then. This is the same case as Lehman Bonds. People are just unprepared for such rare happenings. LEhman collapse?? Oh come on. Now it did, people blames and ask for compensation, stating mis-selling. But whose signature is that on the agreement? You signed there simply means you had agreed. That is black and white. The rest is just your words against mine.

 

If i am the dealer, I wont barge for sure. But rather than threatening to walk out, try to negotiate for a win-win. Even rebate 2000 is something ok from the look of the situation. They already stand to gain 10k. So maybe out of good will getting back 2k MAY BE quite possible. But if they stay firm, you really suck thumb.

 

Learn from it and be wiser next time. SAme case when i took a 10year loan with 10% deposit. I have to top up 10k when i sold it off 3.5years later. No one told me then, and i didnt do my sums. I was stupid. Now i know better.

 

Good luck mate.

[Booboon]

Taking guranteed COE is a gamble for both dealer and buyer. Up buyer wins, down dealer wins. Fair and sqaure. Lost already dun cry foul, like others have said, if it shot up, you will insist that dealer to deliver your car without top up. Moral of the story, don't buy guranteed coe deal if you don't want to gamble or insist on a rebate amount.

to begin with, i dont even want to buy from a PI. There are just too many negative things abt them

[Booboon]

What does guaranteed COE actually mean?

to some punk PI, it means just place 6 bids, if kena coe, everyone happy. if never kena, just ask buyer to top up.

 

it just a word game to them.