Strategies on buying used car

[SGCarmarter]

I've traded in my ex-car for another 2nd hand Chevy to a dealer which i bought the car from.

 

I first downpay for the Chevy and sales agreement in April and oso did the trade-in documentations within the next few days with them.

 

Till now, I still receive reminder letters from Maybank to pay installation and overdue interest for my ex-car. While on the other hand, I'm oreadi paying installment for the Chevy.

 

Later, I found out from one-motoring website that I still have both car registered under my name.

 

The car dealer have quit the company and ask me to talk to another dealer which says their admin is sorting things out. But 3mths oreadi!! @@

 

 

Is it normal for trade-in deals to be like this?

 

Should i pay for my ex-car loan installment?

(I'm worried if i dont pay, will affect my credit rating and affect my HDB loan assessment...)

 

 

pls anyone can enlighten me who how to make the car dealer to deregister my car?

 

 

Thanks

[Roh96]

Got strategy to save on buying used car using these quidelines:

 

1) buy a parf car with about 3 years left to go> so that there's not much money the dealer can mark up anyway.

2) go for mileage about 10-15kpa. <10k pa is too underutilized and may pose other problems.

3) go for agent serviced.

4) preferably 1 owner and parked in sheltered place.

5) prepare not to take loan so that 1) dealer cannot make money for loan 2) can get rid of car anything if not happy or if any major defect without suffering any loss from early loan settlement because value of car is near paper value anyway.

 

If bros and sis notice that in ST advertised are usually newer cars, thus much can be marked up on price and dealer can make on loan also. Dealers don't mind advertising bacause they stand to make a lot if deal is realised.

 

So sgcarmart is the place to go to looks for such good value cars if bros and sis scrutise hard enough.

 

Just my humble view and may not suit everyone, especially those looking for cars with latest features etc.

 

There is always a risk in buying a used car. The best option is to buy from someone u know, like friends, friend's friend, neighbours, colleagues.

[Ingenius]

Got strategy to save on buying used car using these quidelines:

 

1) buy a parf car with about 3 years left to go> so that there's not much money the dealer can mark up anyway.

2) go for mileage about 10-15kpa. <10k pa is too underutilized and may pose other problems.

3) go for agent serviced.

4) preferably 1 owner and parked in sheltered place.

5) prepare not to take loan so that 1) dealer cannot make money for loan 2) can get rid of car anything if not happy or if any major defect without suffering any loss from early loan settlement because value of car is near paper value anyway.

 

If bros and sis notice that in ST advertised are usually newer cars, thus much can be marked up on price and dealer can make on loan also. Dealers don't mind advertising bacause they stand to make a lot if deal is realised.

 

So sgcarmart is the place to go to looks for such good value cars if bros and sis scrutise hard enough.

 

Just my humble view and may not suit everyone, especially those looking for cars with latest features etc.

your strategies are superb ! why we never thought of that ?!

:D [laugh]

[Galliano]

I notice when they valuate yr car, the 1st thing they do is open up the hood to check engine & parts.

 

Any idea what they are watching for? What is the tell tale signs?

[Picanto]

These are tips not strategy.

 

 

these are NAIVE tips from TS

[Pisces69]

Go and ask for a long test drive. Must test the used car right? Must get opinion right?

 

Then drive it to another second hand dealer, telling him you you want to sell/trade in that car!

The second dealer will give you his most honest answer to the real worth of the car. This old lah, that wear out lah, old model hard to sell lah, low Coe value, etc etc.

 

With that in mind....make a offer somewhere in between to the first car dealer for the car!

 

That's my best advice for all car buyers!!

 

Wah u r smart.

 

[Pisces69]

maybe TS's 'strategies' is for buying these 3yrs left to go cars?

 

http://www.sgcarmart.com/used_cars/info.ph...288&DL=1231

 

or

 

http://www.sgcarmart.com/used_cars/info.ph...646&DL=2175

 

 

 

 

[Pisces69]

you must know how dealer work...

 

Yes. All u hv said is true.

 

Dealers expert in playing the game. Most pple, especially those newbies wil kenna chop by dealers.

 

I just test car n I have my own value of that car based on depreciation, condition etc n wil make them an offer.

 

They can take it or leave it. Just must b careful after agreed price, dealer wil try to slip in additional charges here n there. Keep a look-out for this.

 

I go buy any car, I am always willing to walk away from it. If u desperate, dealer wil see it n hold their price. Ty like to wait fr suckers to come along with a wallet full of money.

 

[Pisces69]

When i went to look around for 2nd hand cars i went with a cousin of mine who is a mechanic. One thing he helped me with was advising me on choosing a car that also wouldn't be too expensive to fix in case of having any troubles with it. I think that for most people that can also be a good point to look for.

 

So looking at yr avatar, is that the car u finally bought?

 

[Pisces69]

Dont mind me asking, is there any specific car model that is not expensive to fix? I am quite surprised by the cost to repair my Honda for a rather small superficial damage....good thing I'm not paying.

 

Honda usually cost more to repair than Toyota n Nissan.

 

But Honda more shiok to drive lah. That's the price u pay for luxury n comfort.

 

[Pisces69]

$1000 fix auto sliding door cheap?

 

 

Very cheap..............if u r loaded.

 

For me, I wil just tie a string to keep the door closed. Cost? $2 incl labour summore.

[Pisces69]

Dealer also reading this arh.:)

Anyway dealer also got family to feed, as long as don't chop too much can liao.

 

I estimate a dealer makes about $4K to $5K at least per 2nd hand car. U say enough or not?

 

[Pisces69]

I've traded in my ex-car for another 2nd hand Chevy to a dealer which i bought the car from.

 

I first downpay for the Chevy and sales agreement in April and oso did the trade-in documentations within the next few days with them.

 

Till now, I still receive reminder letters from Maybank to pay installation and overdue interest for my ex-car. While on the other hand, I'm oreadi paying installment for the Chevy.

 

Later, I found out from one-motoring website that I still have both car registered under my name.

 

The car dealer have quit the company and ask me to talk to another dealer which says their admin is sorting things out. But 3mths oreadi!! @@

 

 

Is it normal for trade-in deals to be like this?

 

Should i pay for my ex-car loan installment?

(I'm worried if i dont pay, will affect my credit rating and affect my HDB loan assessment...)

 

 

pls anyone can enlighten me who how to make the car dealer to deregister my car?

 

 

Thanks

 

Did u sign a "hand over" form with the dealer which states the date n time the dealer took delivery of yr 2nd hand car?

 

Use that to fight yr case. Go LTA n 2nd hand car dealers association n small claims court as a last resort.

 

Show this form to the finance(Maybank) n explain the car no longer belongs to u. How come u never arrange with Maybank to do the loan settlement with Maybank b4 u can sell the car to the dealer?

 

[Pisces69]

I notice when they valuate yr car, the 1st thing they do is open up the hood to check engine & parts.

 

Any idea what they are watching for? What is the tell tale signs?

 

 

Check if there is an engine inside or not?

[Timex1441]

I estimate a dealer makes about $4K to $5K at least per 2nd hand car. U say enough or not?

Not always so much profit....i know cos after i sold my car to used car dealer, i monitored sgcarmart n the last listed price b4 it was sold translated to a $2K profit for the dealer.

[The_Bear]

There is always a risk in buying a used car. The best option is to buy from someone u know, like friends, friend's friend, neighbours, colleagues.

Put it the other way. Worst is to sell to friends, neighbour or relatives.

[Voodooman]

Got strategy to save on buying used car using these quidelines:

 

1) buy a parf car with about 3 years left to go> so that there's not much money the dealer can mark up anyway.

2) go for mileage about 10-15kpa. <10k pa is too underutilized and may pose other problems.

3) go for agent serviced.

4) preferably 1 owner and parked in sheltered place.

5) prepare not to take loan so that 1) dealer cannot make money for loan 2) can get rid of car anything if not happy or if any major defect without suffering any loss from early loan settlement because value of car is near paper value anyway.

 

If bros and sis notice that in ST advertised are usually newer cars, thus much can be marked up on price and dealer can make on loan also. Dealers don't mind advertising bacause they stand to make a lot if deal is realised.

 

So sgcarmart is the place to go to looks for such good value cars if bros and sis scrutise hard enough.

 

Just my humble view and may not suit everyone, especially those looking for cars with latest features etc.

 

Dealer's loss is not necessarily your gain.

 

I prefer to buy 2-3 years old car, first owner takes huge hit on depreciation. Cars these days are usually build to last at least 5 years, after the fifth or sixth year, lots of wear and tear items to replace. 7th? Sounds scary, too much risks to save a few thousand dollars.

[Pisces69]

Not always so much profit....i know cos after i sold my car to used car dealer, i monitored sgcarmart n the last listed price b4 it was sold translated to a $2K profit for the dealer.

 

$2K sud b the minimum ty wil make.

 

Profit fr 2nd hand cars r very good if u monitor the prices carefully.

 

Some dealers wil sell quickly fr less profit or some wil wait fr more profit. But if ty suspect market prices r dropping, ty wil sell fast.