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SKCS

Large sum deposit made with dealer but yet to transfer to name after 2 weeks

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Hi All,

 

I need some advice.

 

Recently bought a second hand car from a dealer with large sum of deposit but it has been about 2 weeks and the car ownership still haven't transfer to my name yet whereas under a finance company. He kept mentioning will transfer but did not. I suspect he took the money purchase other cars in to sell and did not redeem the vehicle with finance.

 

What should I do now? Police and CASE been notified and he continue to list more cars to sell to others.

Edited by SKCS
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My take is high chance the dealer has taken the money to roll on his cash flow and probably has outstanding balance own to the bank that was not cleared. hence not able to do transfer.

 

Do not be surprised that the bank will repossess the car if the dealer failed to fulfil the instalment.

 

Just be informed of the worst case scenario and all the best to your case. :evilish:

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My take is high chance the dealer has taken the money to roll on his cash flow and probably has outstanding balance own to the bank that was not cleared. hence not able to do transfer.

 

Do not be surprised that the bank will repossess the car if the dealer failed to fulfil the instalment.

 

Just be informed of the worst case scenario and all the best to your case. :evilish:

Consperm, chopped, signed. Good dealers normally takes abt 3 working days once bank loan is approved.....

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Consperm, chopped, signed. Good dealers normally takes abt 3 working days once bank loan is approved.....

Mine was instant

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Hi skcs i suspect you also in the scam . To warn all . Never put deposit of any sum until car is transfer. MI destino was closed due to efforts by victims and i am one of them. The perperator clearly know the loopholes and knowledge of the law. Ic goes by name shanmugan anawi and stay bendemeer area. I suspect he use another name to register a company and carry on his scam. All do be warned. Any victims can contact me 90394959 msg me first in case. I am implicated by him in a case so i still will refer you to the group for help

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Hi All,

 

I need some advice.

 

Recently bought a second hand car from a dealer with large sum of deposit but it has been about 2 weeks and the car ownership still haven't transfer to my name yet whereas under a finance company. He kept mentioning will transfer but did not. I suspect he took the money purchase other cars in to sell and did not redeem the vehicle with finance.

 

What should I do now? Police and CASE been notified and he continue to list more cars to sell to others.

wah ... exactly same case as mine ... but mine happened 18 years ago .... wonder if its the same guy chutting the same pattern ... kept telling me the ex-owner not in SG to do the transfer.

 

I lost about 20k ... report police,  police tell me go look for lawyer, lawyer then tell me to suck it up.

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Hi All,

 

I need some advice.

 

Recently bought a second hand car from a dealer with large sum of deposit but it has been about 2 weeks and the car ownership still haven't transfer to my name yet whereas under a finance company. He kept mentioning will transfer but did not. I suspect he took the money purchase other cars in to sell and did not redeem the vehicle with finance.

 

What should I do now? Police and CASE been notified and he continue to list more cars to sell to others.

 

It's really damn Du Lan to kena in such a situation ... [furious]

 

Sometimes is really a Heng Suay thingy ... :a-bang:

 

Hope your case would be resolve soon and the worst scenario as per mentioned by the other forummers here will not happen to you ... [grouphug]

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Why all this is perpetuating  and nothing is done?

Cos it's your money and not ah gong. Period.

Edited by Hamburger
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Why all this is perpetuating  and nothing is done?

 

Cos it's your money and not ah gong. Period.

 

 

 

 

....thats for sure and 100% correct.

Edited by Kezg1
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wah ... exactly same case as mine ... but mine happened 18 years ago .... wonder if its the same guy chutting the same pattern ... kept telling me the ex-owner not in SG to do the transfer.

 

I lost about 20k ... report police, police tell me go look for lawyer, lawyer then tell me to suck it up.

So easy to cheat money this way and get away scot free...... lawyer advised to suck it up unless you wanna sue the bugger in personal capacity ya?

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Sinkies nvr learn. They always think they wont be trap

Hahaha

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So easy to cheat money this way and get away scot free...... lawyer advised to suck it up unless you wanna sue the bugger in personal capacity ya?

The lawyer told me : you can sue, you can win ... But they guy just have to declare bankruptcy... Then I'll get nothing and have to foot the court fees some more!

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The lawyer told me : you can sue, you can win ... But they guy just have to declare bankruptcy... Then I'll get nothing and have to foot the court fees some more!

 

well at least you would have made the dealer go bankrupt over a small sum of $ should they choose to

 

can cause some inconvenience and pain rather than let them jiak your 20k easily

 

-_-

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Why all this is perpetuating  and nothing is done?

 

Cos it's your money and not ah gong. Period.

 

Just hope no pea-brained politician comes outright to say that buy car should pay full upfront and do transfer immediately to avoid such incidents..

 

(sounds like something they might blurt out - no? :XD: )

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How come no regulation after all these scams?

 

Why can't a deposit be put into a trust fund which is regulated by MAS or some gov. agency? Only after the car is transferred to the new owner, then MAS will release the funds to the dealer... like that no discrepancies

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Think the money is as good as gone liao. Head you lose, tail they win.

 

Rule of thumb, never never trust a car dealer 100%. Deposit to me is never above 2k. If dealer not happy, I walk away.

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