Used-car dealers urge MAS to review loan curb

[Mockngbrd]

mean dealer register a new car first lo, then sell as "used" since technically is already a used car.

[Jman888]

bite the bullet, if curb on new car but not used car, then LPPL back to square one.

[Sugar]

mean dealer register a new car first lo, then sell as "used" since technically is already a used car.

 

You mean LTV is higher for used cars than new cars?

[Roh96]

Higher end pre-own cars will get harder hit, especially those <2 yrs old car.

[Gildor8]

Strange, with this, used car dealer would naturally pay very low price or even scrap cost for owners looking to sell their cars.

But I see the price of used cars are still at market price. This seems to indicate they are keeping their profit margin.

[Ooosh]

Strange, with this, used car dealer would naturally pay very low price or even scrap cost for owners looking to sell their cars.

But I see the price of used cars are still at market price. This seems to indicate they are keeping their profit margin.

Used car dealers are still not willing to push down the price even when there are no customers now.

They are adopting a wait and see attitude.

At the other end, they are redefining their strategy, they are using their fleet of unsold cars to lease out long term.

[Altivo]

Let them wait loh. See who blink first.

 

 

[Hamburger]

review???? review what???

 

coe is still so high, if review coe may shoot up to 100k any time. LTA jolly well know the root of the problem but yet refuse to address it

[Kezg1]

review???? review what???

 

coe is still so high, if review coe may shoot up to 100k any time. LTA jolly well know the root of the problem but yet refuse to address it

 

 

 

Its ALL about $$$$$$....

[SexGuru]

This ruling will be putting up for quite awhile.

[Maz0608]

If want to fight for 80% loan for 8 years, then fight for the entire industry lah!

Second hand car dealers Tua Ki ah! Who cares if their business dropped by 50%, I would say obi-goot!

 

If MAS were to adopt their suggestion, then second hand car dealers may even raise their car price as they have an edge over the new car dealers.

[13177]

The used car dealers deserve it la, who ask them to price so high for their used car? Esp those used car with low coe, the car price that they are selling really ridiculous high! Thinking whether if MAS give in to their request?

[Azhiwen]

If MAS gives in, will that set a precedence? Next time GST hike, we also go KPKB lah....

[Chucky2007]

If used car allows 80% loan 8 years tenure, immediately those AD will sell the new car to their used car arm and sell it as "amost new car, just 1 month old and 100km mileage and can get high loan"

Edited August 15, 2013 by Chucky2007

[Zxcvb]

If used car allows 80% loan 8 years tenure, immediately those AD will sell the new car to their used car arm and sell it as "amost new car, just 1 month old and 100km mileage and can get high loan"

 

Definitely!! The more rules they create, the more loopholes there is. I say let the cooling measures stay, don't touch.

[Ahseng]

Don't think government will give in this time. The COE creeping up even with the "cooling measures"

 

round and round story:

COE inch back up to 100k,

MAS review + new cooling measures

COE down to 70k

More ppl chiong to buy

COE inch up again..

 

*repeats*

[Brx]

Please keep the loan curbs in place.

 

Time for used car prices to be realistic.

 

Dealers complain drop in sales? Lower your prices to paper value + body value and a realistic margin and I assure you that your sales WILL increase!

 

New car price unrealistic NVM... people are willing to pay $100k COE, so be it. Loan curb is there exactly for those who cannot spend exorbitantly to stay out.

 

Dealers should stop taking in used car price based on current car prices. Take in at scrap + body value (whcih I think they already are...). You don't sell so high, car owners also won't dare to ask so high!

 

Over time, car owners will realise how much of a premium they are paying for new cars when used car prices are realistic and the resale prices of their car are also at realistic level. Hopefully COE will drop then...

 

Someone has to be the first to stop this bubble game so used car dealers! Here is your chance to be hero and redeem your already tarnished name!

 

 

 

[Bigbadguy]

MAS should not change the rules, if cannot sell, den sell cheaper. Most 2nd hand dealer take in cars at min 8k lower than market value, So why need to change the rules to support them to sell at a huge profit.