Rogersk8ter 1st Gear March 29, 2013 Share March 29, 2013 By Tan Weizhen - 6 hours 19 min ago SINGAPORE ↡ Advertisement Link to post Share on other sites More sharing options...
BlueOldMan 1st Gear March 29, 2013 Share March 29, 2013 Mr Kelvin Tan of Straits Euro Motors said his firm has suffered a loss of about S$50,000 in the past two weeks, as it slashed prices to draw customers. 50k slashed from those high margin rsp Hahaha Link to post Share on other sites More sharing options...
Toothiewabbit Supersonic March 29, 2013 Share March 29, 2013 By Tan Weizhen - 6 hours 19 min ago SINGAPORE Link to post Share on other sites More sharing options...
Perrier 1st Gear March 29, 2013 Share March 29, 2013 Thats business risk from the government, absolutely uncalled for. They should learn from central banks, drop hint, verbal intervention, deploy CM in phases and projected timeline. Its like tell you that the season parking will be raised by 2-3 fold, those with cars will suck thumb. If you are looking for a ride now, just go ahead a propose a price and see if dealer bite. I see some 6-7yrs cars still going at 15k above paper value. Link to post Share on other sites More sharing options...
Passat57 3rd Gear March 29, 2013 Share March 29, 2013 Thats business risk from the government, absolutely uncalled for. They should learn from central banks, drop hint, verbal intervention, deploy CM in phases and projected timeline. Its like tell you that the season parking will be raised by 2-3 fold, those with cars will suck thumb. If you are looking for a ride now, just go ahead a propose a price and see if dealer bite. I see some 6-7yrs cars still going at 15k above paper value. 15K above paper value is the dealers' asking price. So their purchase price for the used vehicles will be closed to paper value+body only. Link to post Share on other sites More sharing options...
Matrix0405 5th Gear March 29, 2013 Share March 29, 2013 Though I take no joy in their predicament, they have to take the bad with the good. Don't expect MAS to cut them some slack when they hardly give potential buyers' any quarters. It's just business. Some are caught off guard with hoarding cOE, others are with inventories. So quite charm. Demand of preloved are in bad shape, unlike new where the supply is limited. But situation is still not that bad yet as COE is still high and the window of opportunity for 2nd hand dealers to escape is not closed yet. If MAS managed to close the loophole and COE continue to drop, then it may become too late to run. The only choice it to take some lost and export the car when there is no buyers. Link to post Share on other sites More sharing options...
Sabian Turbocharged March 29, 2013 Share March 29, 2013 Karma's a bitch. Link to post Share on other sites More sharing options...
Z_Dash Clutched March 29, 2013 Share March 29, 2013 Mr Teh Han Sing, Managing Director of Chin Lian Seng Motor Trading, said the local banks have increased interest rates for used-car loans to 2.88 per cent, up from 2.28 per cent. Some financing companies such as Hitachi Capital and Century Tokyo Leasing have raised it further to 3.28 per cent, Mr Wong said. Mr Wong added: Link to post Share on other sites More sharing options...
Forte3737 5th Gear March 29, 2013 Share March 29, 2013 Mr Kelvin Tan of Straits Euro Motors said his firm has suffered a loss of about S$50,000 in the past two weeks, as it slashed prices to draw customers. 50k slashed from those high margin rsp Hahaha cannot believe this type comments. i think slashing is over exaggerated Link to post Share on other sites More sharing options...
Perrier 1st Gear March 29, 2013 Share March 29, 2013 Banks increasing loan interest (formerly 1.88% to now as high as 3.28%) due to new regulation of max loan period down from 10yrs to 5yrs. Isn't the reduction on loan period suppose to help cut down expenditure? Why is MAS not doing anything to stop bank from raising loan to make up for the shortened loan period? MAS aim to cut loan period seems to be so flawed now. Wrong, MAS aim to weed out those who could barely afford to service the loan. The $300-400++/mth buyers will be taken out of the demand equation. The interest after 3.28% after 60mths would not add much. half the loan period would. Link to post Share on other sites More sharing options...
Wormvirus 1st Gear March 29, 2013 Share March 29, 2013 wonder why the need for 1000+ used car dealers, this trade need a tougher screening Link to post Share on other sites More sharing options...
Voodooman Supersonic March 29, 2013 Share March 29, 2013 wonder why the need for 1000+ used car dealers, this trade need a tougher screening When it is easy money and barrier to entry is low, the numbers grow, so during period of ever rising COE, more will join the trade. When COE is on downtrend and economy is bad as people don't change cars as often, the weaker players will leave.... just like property agents. Link to post Share on other sites More sharing options...
Raymondism Twincharged March 29, 2013 Share March 29, 2013 When it is easy money and barrier to entry is low, the numbers grow, so during period of ever rising COE, more will join the trade. When COE is on downtrend and economy is bad as people don't change cars as often, the weaker players will leave.... just like property agents. gd move since the no of FT is slashed.... LOL Link to post Share on other sites More sharing options...
Matrix0405 5th Gear March 29, 2013 Share March 29, 2013 Wrong, MAS aim to weed out those who could barely afford to service the loan. The $300-400++/mth buyers will be taken out of the demand equation. The interest after 3.28% after 60mths would not add much. half the loan period would. MAS has 'no' interest to weed any buyer, financial prudence is just a nice cover story. There is a direction to cap inflation. We hv rose to be abt the most expensive city in Asia, beating Beijing & Tokyo & all the way to Sydney, so paiseh lah. Lower income ppl also buay tahan liao and quite unhappy. Link to post Share on other sites More sharing options...
Hosaybo 6th Gear March 29, 2013 Share March 29, 2013 loss of 50k = make 50K less than usual. Link to post Share on other sites More sharing options...
Mockngbrd Supersonic March 29, 2013 Share March 29, 2013 Got slash price n fire sale merh? mai keh keh le... knn Link to post Share on other sites More sharing options...
Gnomish 2nd Gear March 29, 2013 Share March 29, 2013 earn 50k lesser is not same as losing 50k lah Link to post Share on other sites More sharing options...
BlueOldMan 1st Gear March 29, 2013 Share March 29, 2013 Alot of people feel the heat n fell sick Like me ↡ Advertisement Link to post Share on other sites More sharing options...
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