Car got Towed...

[Coupecabriolet]

Nbz.... Here all give advice is through hearsay.....

 

i don't think these guys have ill-intention towards TS and his friend. i see valid attempts at trying to help, though not 100% accurate.

 

if their advices are wrong, and you are more familiar in this area, just tell them nicely lah, need to get so worked up with that negative attitude of yours?

[Fresh]

if their advices are wrong, and you are more familiar in this area, just tell them nicely lah, need to get so worked up with that negative attitude of yours?

 

makes the world a nicer place. and I also envy your friends cos they know they won't get it from you when they give u bull advice.

 

its true, if you don't know Dick, kiang dio ho, mai kay kiang...

[Ithunk]

anyway towing of a car is real......my cousin`s car got towed away before.....the best bet for yr friend is to try and settle the fees.....3 months of not paying installments....of course the finance company will tow away.....if a person is the boss of the finance company...i would think anyone will do the same....

Edited October 30, 2010 by Ithunk

[Galantspeedz]

i don't think these guys have ill-intention towards TS and his friend. i see valid attempts at trying to help, though not 100% accurate.

 

if their advices are wrong, and you are more familiar in this area, just tell them nicely lah, need to get so worked up with that negative attitude of yours?

 

Not negative. But most advice dun make sense.

 

all cars are body+paper only? A simple search on sgcarmart on auction cars will indicate that It is not true

 

Saying the fella wun get sued and will only have bad credit rating is trying to help?

 

There are certain topics that I will refrain from giving advice for the simple reason that I may do more harm than good.

 

Wrong or lazy advice is ok but have to depend on what thing..... Bankruptcy is not something to be taken lightly. Imagine ts tell his fren about what enforcer say and bochup the fi... He is ruined for life.

 

It is not a simple thing of just buying a wrong car.

 

 

[Ithunk]

Not negative. But most advice dun make sense.

 

all cars are body+paper only? A simple search on sgcarmart on auction cars will indicate that It is not true

 

Saying the fella wun get sued and will only have bad credit rating is trying to help?

 

There are certain topics that I will refrain from giving advice for the simple reason that I may do more harm than good.

 

Wrong or lazy advice is ok but have to depend on what thing..... Bankruptcy is not something to be taken lightly. Imagine ts tell his fren about what enforcer say and bochup the fi... He is ruined for life.

 

It is not a simple thing of just buying a wrong car.

 

anyway i have asked most car dealers....and yes late charges will be imposed....for a bmw its the 2nd month.....but then again it depends on the finance company...i assume most would repossess on the 2nd month....

[Ithunk]

anyway jus chill...cars are just cars....most important is to be healthy and be a law abiding citizen.....and not become another koh seah wee....to lie and cheat SLA of 10 over million to own a lamborghini....

 

 

[Kezg1]

anyway jus chill...cars are just cars....most important is to be healthy and be a law abiding citizen.....and not become another koh seah wee....to lie and cheat SLA of 10 over million to own a lamborghini....

 

 

 

Sorry to said about this seah guy...he is damn stupid...remember what that lawyer do..he's gone for good,

I know it is wrong but why don't plan.

 

[Ithunk]

Sorry to said about this seah guy...he is damn stupid...remember what that lawyer do..he's gone for good,

I know it is wrong but why don't plan.

 

he is in changi prison now....

[Voxy28]

Apparently you hear wrongly. Sometimes it better to find out rather than hear.

Anyway, even paper+body may be higher if sufficient downpayment was made.

 

So stop hearing yeah..... Cuz your sources seem not very accurate

 

I see... but do the dealers have chance to see the car before bidding?

[Galantspeedz]

I see... but do the dealers have chance to see the car before bidding?

 

Anyone that knows the car is for auction can bid for the car, not only dealers. Yes can view the car but no test drive. The only problem is you can view the car only if the key was surrendered if not can't view inside thus the lower price.

[JX83]

Anyone that knows the car is for auction can bid for the car, not only dealers. Yes can view the car but no test drive. The only problem is you can view the car only if the key was surrendered if not can't view inside thus the lower price.

 

 

Guru

[SporeHongkong]

to all bros, esp bro galant (cool down bro..maybe they trying to be helpful)..thks alot for all yr advices..fyi me stupidly enf loan him few hundred n the rest he got himself to go redeem back his stupid car..dont know y but hai i myself also a driver so i feel for the finance company (OCBC) to repossess the car n auction off he might lose out..anyway he paid up the 3 mths outstanding installment, the f up tow fees n the late interest..got back his f up toyota n will sell it off soon to minimise his losses..

 

bro do u guys know if he sell off his car now yes it might fetch abit better price but wat abt the early settlement issues then the outstanding balance can nego pay installments? thks once again..MCF really very resourceful place to seek advices..

[Iisterry]

if their advices are wrong, and you are more familiar in this area, just tell them nicely lah, need to get so worked up with that negative attitude of yours?

 

I help out okay?

 

Firstly, no one will let a car loan be defaulted and subjected to towing unless financially strapped. It does not make economical sense. The fees incurred is exorbitant.

 

Secondly, successful bidded price for auction vehicles is roughly around the same as trade-in price. Sometimes higher, sometimes lower. He will not be able to sell it off himself because he does not have the money to fully redeem the vehicle in the first place. He needs to top up his car loan remember?

 

Now the other thing is this. If you have the original keys to the auctioned vehicle, the dealer will soon be making a call to you. He will want to buy your keys instead of making a new set, at a reasonable price of course.

 

Lastly, to the TS. The only way someone can help your friend is if they are willing to lend him the money. Else, just wait for the letter.

[Iisterry]

...but wat abt the early settlement issues then the outstanding balance can nego pay installments?

 

No such BS.

 

1) You redeem the car fully before you can transfer to another buyer.

 

2) No buyer will pay you until it can/is transferred.

 

He can of course, apply for a personal loan for the difference between redemption and selling value.

 

Ask him to check his settlement figure first and work out the rest.

[SporeHongkong]

wah seems abit troublesome though..but wat i meant is that if he were to sell off his car now on open market say 40k than his total outstanding is 45k than the remaining 5k must pay before the finance company will release the car to new owner n chg name right? 5k can nego installment?

[Andrefoo]

Not negative. But most advice dun make sense.

 

all cars are body+paper only? A simple search on sgcarmart on auction cars will indicate that It is not true

 

Saying the fella wun get sued and will only have bad credit rating is trying to help?

 

There are certain topics that I will refrain from giving advice for the simple reason that I may do more harm than good.

 

Wrong or lazy advice is ok but have to depend on what thing..... Bankruptcy is not something to be taken lightly. Imagine ts tell his fren about what enforcer say and bochup the fi... He is ruined for life.

 

It is not a simple thing of just buying a wrong car.

 

 

I agree with you. Most finance companies have ties with credit bureau in and definitely car being towed back because of default in installment would be reflected in your credit rating, and its one of the worst things that could happen to you in terms of your credit rating. You'll not be able to take out any loans or apply for any credit cards for a long long long time...

[Vhtfhwlego]

to all bros, esp bro galant (cool down bro..maybe they trying to be helpful)..thks alot for all yr advices..fyi me stupidly enf loan him few hundred n the rest he got himself to go redeem back his stupid car..dont know y but hai i myself also a driver so i feel for the finance company (OCBC) to repossess the car n auction off he might lose out..anyway he paid up the 3 mths outstanding installment, the f up tow fees n the late interest..got back his f up toyota n will sell it off soon to minimise his losses..

 

bro do u guys know if he sell off his car now yes it might fetch abit better price but wat abt the early settlement issues then the outstanding balance can nego pay installments? thks once again..MCF really very resourceful place to seek advices..

u not stupidly la.

Just had to kiss goodbye to yr $ .

 

I got my car repo before in 2004 as I need cash to pay to WS for an accident repair (over 5digits).

Normally got 2 months "grace" and the finance company call to guarantor to verify.

Guarantor confront them "if that he never pay the loan, you go repo lor".

That night, my car got hooked and need to pay 3months, parking fee, repo fee all at once.

 

Tried to borrow $100 from a friend and she said, you come over to my place and I pass to you.

I borrrow from her as I once help her out when he BF got into accident (during then they already got married).

When I got over to her place, I phoned her and she avoided my call & sms for over an hour (20mins beforehand, we were still chatting).

I left and 3 hours later she said her husband is back so cannot pick up my call and she ask me over the next day.

The next day, same stunt was pulled.

 

Some SAY, you can judge a friend by X amount.

In my case $100 (when I lent them $800 before which is 1 month of my part time job at age of 17 and never ask them back which was dragged over 1 year).

When her husband know about my case, he said he is not aware of the part which his wife did to me and feels very paiseh as I had been always helpful to them.

 

I am glad that you help him during his bad times.

 

 

 

[Galantspeedz]

to all bros, esp bro galant (cool down bro..maybe they trying to be helpful)..thks alot for all yr advices..fyi me stupidly enf loan him few hundred n the rest he got himself to go redeem back his stupid car..dont know y but hai i myself also a driver so i feel for the finance company (OCBC) to repossess the car n auction off he might lose out..anyway he paid up the 3 mths outstanding installment, the f up tow fees n the late interest..got back his f up toyota n will sell it off soon to minimise his losses..

 

bro do u guys know if he sell off his car now yes it might fetch abit better price but wat abt the early settlement issues then the outstanding balance can nego pay installments? thks once again..MCF really very resourceful place to seek advices..

 

Check with bank. Most dun allow but some may..... To cut further losses for the bank