Honest Used Car dealers! COME IN!

[Fuelsaver]

It also depends on your car's mileage. If its high, it's harder to sell.

Most dealers 'floor' the vehicle under banks, so everyday the car doesn't sell, it's losing money.

In the car trade, it's always just waiting for someone that is willing to pay more unless the car has been stuck for more than 6 months.

Why we can't sell at buyer's depreciation, it's because if I wanted to buy a Rolex and only wanted to pay 2k for it, they wouldn't sell. Everyone has a certain budget for a car, but to get a better car, will definitely be more expensive.

 

I have customers telling me their budget is 50k and they want to buy a newer Honda civic. Nobody can do that. Counting prices by depreciation doesn't work.

Just a lesser depreciation of 1k is at least a 5k discount.

And most cars need to do a re-spray before putting it on sale because of all the chip in paint.

 

As for your car, it depends what model. If its a jap luxury, there will be bigger differences because to 'floor' the vehicle would run up more costs than others.

Other than that, you probably got eaten.

You see, the salesman isn't the one giving the discounts.

And the bosses know what is a good price to sell a car, they know how much the car is worth selling for based on condition.

Quite like the pawn shops.

By the time they want to sell before folding, they've already incurred too much losses and just want to break even if possible.

Think the last sentence most valid. So u mean it impossible that I ask for near 1k less depre for jap suv?

Edited December 27, 2012 by Fuelsaver

[Pisces69]

Common lah, you have to be serious now that yours is a lemon! how come people keep buying and making BMWs #1 selling year after year, while others feel that those are lemon and unreliable

 

Now all radx needs to do is change his drink to gin n tonic n he wil hv an endless supply of lemons to go wh it.

 

Hahaha.

[RadX]

Now all radx needs to do is change his drink to gin n tonic n he wil hv an endless supply of lemons to go wh it.

 

Hahaha.

 

 

wohooo...love my lemons [laugh]

[Pisces69]

wohooo...love my lemons [laugh]

 

 

I too love lemons. Small n perky. Hahaha.

 

U wan to sell yr lemon? I can consider but must b cheap hor.....cos its a lemon.

 

Hee.

[Jamessoh]

hi kiddywee,

 

correct me if i am wrong. the closer to 10years, the price of the car will be nearest to paper plus body value. thus the real value buys are actually those 8-9year old car, 1 owner, fully agent serviced ones, cos price can't mark up much anyway. but the catch is that buyer must be cash rich since car left 1-2yrs, unlikely to loan much if any.

 

 

[KiddyWee]

Quite true. No matter how many cars a person owned he cannot fight wh an experienced dealer who deals wh many many more cars in a month.

 

And its a dealers ricebowl to know e common problems of as many makes n models as possible just to survive otherwise may soon close shop cos he bought so many problem cars.

 

So.......abt my evo9......what u suggest? Drive till scrap to minimise my losses? Got 2 yrs plus to go n maybe coe has come down to saner levels by then?

 

 

Yup, that's actually how it is. Knowledge is power but experience teaches us to thread carefully.

I would suggest to drive till scrap and minimize losses.

Edited December 27, 2012 by KiddyWee

[KiddyWee]

My early 2006 optra already 140k km n its considered average n not high.

 

Oh n just to add.....it runs as well as a new car. Its all about how u maintain yr car thats e most important.

 

 

It may run as well as a new car. But I often come across customers who walk by asking if I have a certain make and model. In scenarios where I do have what they want, the next questions are age, color then mileage. Upon hearing the mileage, most actually turn away and say they'll continue looking.

 

No amount of convincing will make them come and take a look. Unless they really are sincere enough.

It's just the mindset.

Take for example if you tried asking your colleagues or friends to buy your car, and you tell them the mileage is 140k km BUT still drives like new! They're still going to have doubts and would reconsider thoroughly.

Not everyone understands what a used car should be and what to expect.

This is why so many dealers tamper with mileage...it's to make money.

They don't have much of a choice sometimes.

 

But I have to agree with you that mileage isn't that important. It's the way you maintain your vehicle regularly, replacing parts that need to be replaced instead of waiting for something to break.

When machines break, it could start a whole chain reaction of problems and make repair costs much higher.

Edited December 27, 2012 by KiddyWee

[KiddyWee]

Would a 2008 BMW 520 series be a okay buy?

 

My opinion is to read up more and compare the BMW inline 4 and inline 6 engines.

The inline 6 engines have been known to be more reliable.

I wouldn't recommend an underpowered BMW.

You should test out the 520 and 523 to compare differences.

Fuel economy is the same for both cars.

[KiddyWee]

Think the last sentence most valid. So u mean it impossible that I ask for near 1k less depre for jap suv?

 

Probably only a Mitsubishi air trek or a Subaru outback. CRV won't be able to fetch such a price.

Hard to expect big cuts from popular cars.

A Toyota Altis's depreciation is around 10k already even for the old facelift.

Thats what becomes of popular cars. And people still buy them. I don't see what's the big deal when's my cars can be compared to them at much lower depreciation.

 

To each its own I suppose.

Edited December 27, 2012 by KiddyWee

[KiddyWee]

hi kiddywee,

 

correct me if i am wrong. the closer to 10years, the price of the car will be nearest to paper plus body value. thus the real value buys are actually those 8-9year old car, 1 owner, fully agent serviced ones, cos price can't mark up much anyway. but the catch is that buyer must be cash rich since car left 1-2yrs, unlikely to loan much if any.

 

 

You're correct. That's why most car salesman buy these age of cars for themselves, of course can't say the same for those that just splurge on an expensive one and suffer after.

Even if we were to sell a car with a little less than 2 and a half years. It's already priced at paper + body + about 2-3k more for all the needed repairs and touch ups. Plus covering the salesman commision of course.

Dealers make very little from such cars.

Depreciation is also very low, so minimal losses there.

The good models will continue to be sold, usually when a car has about 2 years remaining, it's scrapped.

I just sold a VW Beetle with 11 months remaining, was difficult to get a loan because it was less than 12 months. Went for on house instead and they allowed 12 months repayment. Interest rate is high but total interest incurred is pretty much an ant bite on the wallet.

 

If your loan is above 1 year in tenure, I'm sure the banks would still consider, income has to be 3.5X of installment amount for a more guaranteed approval.

You should also have a plan just incase loans don't go through and you really want the car.

[Legacyx]

Kiddy pmed u :)

[Existence]

Kiddy Wee, I've pmed you too. Hear from you soon! :)

[Pisces69]

Yup, that's actually how it is. Knowledge is power but experience teaches us to thread carefully.

I would suggest to drive till scrap and minimize losses.

 

 

Ok tks. Thats what i thought too.

[Pisces69]

It may run as well as a new car. But I often come across customers who walk by asking if I have a certain make and model. In scenarios where I do have what they want, the next questions are age, color then mileage. Upon hearing the mileage, most actually turn away and say they'll continue looking.

 

No amount of convincing will make them come and take a look. Unless they really are sincere enough.

It's just the mindset.

Take for example if you tried asking your colleagues or friends to buy your car, and you tell them the mileage is 140k km BUT still drives like new! They're still going to have doubts and would reconsider thoroughly.

Not everyone understands what a used car should be and what to expect.

This is why so many dealers tamper with mileage...it's to make money.

They don't have much of a choice sometimes.

 

But I have to agree with you that mileage isn't that important. It's the way you maintain your vehicle regularly, replacing parts that need to be replaced instead of waiting for something to break.

When machines break, it could start a whole chain reaction of problems and make repair costs much higher.

 

 

I know how to take good care of my cars thats why i can drive till scrap. Last time Even my coe corona 18yrs plus n almost 400k km still smooth n steady. Only reason i trade in cos coe going to expire n i felt due to gharmen going to cut coe e cost to renew coe in abt 2 yrs wil b too ex so i trade in n get e optra.

 

Most pple just dun know how to check if car is good or not. Ty play safe n go on usual criteria like age mileage n number of owners. Some agent maintained cars r in worse condition than those maintained by outside ws cos those mechs at agent can b really lousy.

 

Sometimes ty r lucky n sometimes not. I rather see condition of e car. Some high mileage but very well maintained cars r a real good bargain.

[Pisces69]

My opinion is to read up more and compare the BMW inline 4 and inline 6 engines.

The inline 6 engines have been known to be more reliable.

I wouldn't recommend an underpowered BMW.

You should test out the 520 and 523 to compare differences.

Fuel economy is the same for both cars.

 

 

BMW has been making e best in-line 6 since the 6 series csi many many years ago.

[Jamessoh]

hi kiddywee,

 

thanks for that reply. it does sound reasonable.

 

my current ride is a oct 2004 rx300 bmr mark levinson omv 49.5k model mileage 75k. no loans.

 

last serviced at borneo at 65K.

 

do u suggest i use till end of coe life or change close to its 9th birthday. would it make much of a difference to its body value?

 

does it matter if i continue to service at borneo now or go to outside workshop? since if do sell at by its 9th year, if dealer wants to resell it, then the borneo records becomes very important to counter the buyer's question on mileage adjustment.

 

if i do change car next year, i intend to get a 2006 ls460. since by oct 2013, the new ls460 would be out and hence the 2006 ls460 car would be left with 3 years of use and its price would be closer to paper plus body value, since it is considered old model already.

 

thanks kiddywee.

 

 

 

[KiddyWee]

hi kiddywee,

 

thanks for that reply. it does sound reasonable.

 

my current ride is a oct 2004 rx300 bmr mark levinson omv 49.5k model mileage 75k. no loans.

 

last serviced at borneo at 65K.

 

do u suggest i use till end of coe life or change close to its 9th birthday. would it make much of a difference to its body value?

 

does it matter if i continue to service at borneo now or go to outside workshop? since if do sell at by its 9th year, if dealer wants to resell it, then the borneo records becomes very important to counter the buyer's question on mileage adjustment.

 

if i do change car next year, i intend to get a 2006 ls460. since by oct 2013, the new ls460 would be out and hence the 2006 ls460 car would be left with 3 years of use and its price would be closer to paper plus body value, since it is considered old model already.

 

thanks kiddywee.

 

Sounds like you're driving the RX300 Luxury which comes with mark levinson sound system.

As for your moonroof, is it the panoramic one or just a normal moonroof? Color of your car would be helpful for me to give you a rough estimate because exporters might be interested.

Although if you choose to drive to the end of the COE you bear minimal losses aswell, because the only amount you lose is the remaining coe rebates.

It wouldn't make a difference to body value to be honest.

If you choose to sell, then you should continue the servicing at borneo, if not, just go to any workshop will do.

RX300 kinda rare for dealers to resell, for RX350 has a higher possibility even for less than 2 years remaining.

As for your concern about the IS460, definitely a good buy.

Actually for Lexus, even when newer facelifted models come out, the value of the old facelift doesn't adjust because these are quality cars.

Same goes for the Golf GTI, the Mach5 and Mach6 models don't lose value even after newer facelifts are released.

[KiddyWee]

I've tried to reply as many as possible, not sure if I've missed any because the site doesn't allow me to spam replies for your PM's.

Please let me know if I haven't contacted or replied any of you.

 

Thank you!