Subprime in Car rental business?

[Mockngbrd]

quite a few dealers closed shop because of the SRS auto case. Imagine all the cars the dealers hold cannot even sell because assets frozen. 

[Ct3833]

On 12/27/2025 at 1:29 AM, Mkl22 said:

有钱说话，没钱废话。

Got money got say. No money no say. 😁

Haha NB, kena suan. 

I help you instigate buying now so that you will have less competitors during your targeted year ok😅

Edited December 26, 2025 by Ct3833

[RadX]

On 12/26/2025 at 12:03 PM, mersaylee said:

At our not so tender age...i tink only the back and neck are places still stiff...😂

reminds me of this song....

 

[Mkl22]

On 12/26/2025 at 8:44 PM, Mockngbrd said:

quite a few dealers closed shop because of the SRS auto case. Imagine all the cars the dealers hold cannot even sell because assets frozen. 

Banks lose money then. 
Ironically 8-9years ago same situation panned out where lots of PHV companies expanded fleet. When uber wanted market share. End up Uber Lion city rental pok and had to leylong many cars. Lots of the attrage reg in 2015/16 were later scrapped early. 
Our continue to monitor LTA still refuses to acknowledge PHV rental companies drive up coe. 
https://www.straitstimes.com/singapore/transport/ubers-expansion-drive-changes-the-game-for-cars

 

just don’t put identical values now lor. But same company can still bid for many coe.

can LTA show data how many bids per company? 

Edited December 27, 2025 by Mkl22

[inlinesix]

On 12/27/2025 at 9:02 AM, Mkl22 said:

Banks lose money then. 
Ironically 8-9years ago same situation panned out where lots of PHV companies expanded fleet. When uber wanted market share. End up Uber Lion city rental pok and had to leylong many cars. Lots of the attrage reg in 2015/16 were later scrapped early. 
Our continue to monitor LTA still refuses to acknowledge PHV rental companies drive up coe. 
https://www.straitstimes.com/singapore/transport/ubers-expansion-drive-changes-the-game-for-cars

 

just don’t put identical values now lor. But same company can still bid for many coe.

can LTA show data how many bids per company? 

Told you guys long ago Car-Lite.

Lite on ownership.

But ppl still refuse to accept it🤭

[Rskc]

On 12/27/2025 at 10:22 AM, inlinesix said:

Told you guys long ago Car-Lite.

Lite on ownership.

But ppl still refuse to accept it🤭

The policy is actually quite successful cos I hear more and more pp happy with just grab-bing ard and taking mrt. No need to waste time finding parking lots and jams. Not for me for now. Ha! 

[Ake109]

On 12/27/2025 at 11:00 AM, Rskc said:

The policy is actually quite successful cos I hear more and more pp happy with just grab-bing ard and taking mrt. No need to waste time finding parking lots and jams. Not for me for now. Ha! 

Yes, which results in more congestion on the roads.

As an anecdote, I can share my xp from running taxi division and itchy backside uber/grab.

Last time before Uber, the people who take taxi and the people who take Grab now are very different. People are a lot less price sensitive to PHV compared to last time taxi. When driving taxi years ago, it was very common to pick passengers from some office/factory/school/mall and the drop off was nearest MRT. With Grab, I dont recall a single instance. People just take all the way to destination. Much rarer to see ginnas/teens take taxi also. Now is so common they take Grab.

Last time taxi, people will also uncle drop me here and walk the last few 100m to save a few 10 cents. Now is expect you to drive all the way into block or basement carpark.

Edited December 29, 2025 by Ake109

[Benarsenal]

On 12/29/2025 at 10:46 AM, Ake109 said:

Yes, which results in more congestion on the roads.

As an anecdote, I can share my xp from running taxi division and itchy backside uber/grab.

Last time before Uber, the people who take taxi and the people who take Grab now are very different. People are a lot less price sensitive to PHV compared to last time taxi. When driving taxi years ago, it was very common to pick passengers from some office/factory/school/mall and the drop off was nearest MRT. With Grab, I dont recall a single instance. People just take all the way to destination. Much rarer to see ginnas/teens take taxi also. Now is so common they take Grab.

Last time taxi, people will also uncle drop me here and walk the last few 100m to save a few 10 cents. Now is expect you to drive all the way into block or basement carpark.

Convenience also a factor. Now everything just go through app, so people just straightaway enter the destination.

Last time people still had some empathy for taxi drivers and don't want to unnecessarily inconvenience them.

[Mkl22]

Cause grab is pay fixed price with fixed destination. Taxi meter will jump.

it’s human psychology. To sit all the way. 
just like you pay upfront for unlimited car washing package. Must go more often to get money worth. 

[13177]

On 12/29/2025 at 11:38 AM, Benarsenal said:

Convenience also a factor. Now everything just go through app, so people just straightaway enter the destination.

Last time people still had some empathy for taxi drivers and don't want to unnecessarily inconvenience them.

No need to show empathy for taxi drivers and even PHV drivers. They are here to earn money, not as if they are giving me free ride. Sometimes when i see them how they choose and pick passengers and left passengers stranded, i have no empathy for them at all.

[Gnahp]

On 12/29/2025 at 9:39 PM, 13177 said:

No need to show empathy for taxi drivers and even PHV drivers. They are here to earn money, not as if they are giving me free ride. Sometimes when i see them how they choose and pick passengers and left passengers stranded, i have no empathy for them at all.

I dumped by taxi drivers many times at roadside before

I used to work at a very ulu place

once taxi dropped me at the destination, 100% empty taxi for the next 20 minutes before hitting civilisation

I always encountered two scenarios 

 

No.1 

me: uncle, XXXX

taxi lao: hah (act blur) where is it?

me: that one that one, go in from there and there

taxi lao: I don't know where is it, I don't know how to go leh...

me: I will guide you

taxi lao bin chao chao (face black black) for the entire journey

 

No. 2

me: uncle, XXXX

taxi lao: ok...

after 200m, taxi drivers will stop the taxi at the road side, ask me to get out

either gives me cock and bull stories or some told me straight, I don't want to take you there...

 

[13177]

On 12/29/2025 at 10:03 PM, Gnahp said:

I dumped by taxi drivers many times at roadside before

I used to work at a very ulu place

once taxi dropped me at the destination, 100% empty taxi for the next 20 minutes before hitting civilisation

I always encountered two scenarios 

 

No.1 

me: uncle, XXXX

taxi lao: hah (act blur) where is it?

me: that one that one, go in from there and there

taxi lao: I don't know where is it, I don't know how to go leh...

me: I will guide you

taxi lao bin chao chao (face black black) for the entire journey

 

No. 2

me: uncle, XXXX

taxi lao: ok...

after 200m, taxi drivers will stop the taxi at the road side, ask me to get out

either gives me cock and bull stories or some told me straight, I don't want to take you there...

 

If taxi lao complain that after dropping me at the destination, 100% empty taxi for the next 20 minutes before hitting civilisation. This is not a good reason and excuse lo. If you drive a taxi, you cannot fussy on the place and say far and ulu. If so picky and choosy, don't drive taxi and stay home and shake leg la.

If i encountered such taxi driver, i won't give chance and surely complain to the taxi company and LTA. Make sure they get a warning from their company.

Edited December 29, 2025 by 13177

[Benarsenal]

On 12/29/2025 at 9:39 PM, 13177 said:

No need to show empathy for taxi drivers and even PHV drivers. They are here to earn money, not as if they are giving me free ride. Sometimes when i see them how they choose and pick passengers and left passengers stranded, i have no empathy for them at all.

Last time got more give and take.

Now it's every man for himself.

[ER-3682]

On 12/29/2025 at 9:39 PM, 13177 said:

No need to show empathy for taxi drivers and even PHV drivers. They are here to earn money, not as if they are giving me free ride. Sometimes when i see them how they choose and pick passengers and left passengers stranded, i have no empathy for them at all.

Because you dressed in Caveman Suit,like Flintstone's Fred,so they scare.

[RadX]

On 12/30/2025 at 6:54 AM, ER-3682 said:

Because you dressed in Caveman Suit,like Flintstone's Fred,so they scare.

Bottomline

 

Must be he ask those kind of qns, even taxi driver give up on him 

 

I sympathize w the taxi driver

[Beehive3783]

Ok, I did a search before starting new thread. Just a bit surprised nobody started a thread about the biggest SG motoring related scandal this year.

https://www.businesstimes.com.sg/singapore/autobahn-rent-car-group-appeals-dismissed-moratorium-reveals-potential-sgx-listco-investor

So apart from PHV leasing companies driving up COE prices, the banks are also contributing to the problem.

Quote

[SINGAPORE] The Autobahn Rent A Car group on Monday (Dec 29) filed an appeal on the decision of its recently dismissed application for creditor protection, and a request for the court to expedite the hearing of the appeal.

The Business Times understands the group has applied for another interim moratorium of six weeks on the back of new potential investment from a Singapore Exchange (SGX)-listed company.

On Dec 26, the application for a six-month moratorium and scheme of arrangement by eight of the group’s companies was dismissed.

The application would have given the group protection against creditor actions and rights as it reorganises its business under a scheme of arrangement. A 30-day automatic moratorium upon application lapsed on Dec 26.

The eight companies involved in the appeal are: Autobahn Rent A Car, Hamilton Autohub, Hamilton Capital, Shinsei Rent A Car, AhTan Car Repairs, Hamilton Autobahn, 88 Auto and Thundercarz.

In total, the group consists of 18 automotive sector companies including car sharing service Shariot, and has debts of more than S$370 million to over 50 creditors, including DBS : D05 +0.44%, OCBC : O39 +0.86%, and UOB : U11 +0.23%.

The group, which was mainly involved in private-hire car rentals and fleet management, had built up a fleet of at least 1,100 cars since 2017 on hire-purchase and various loans.

Potential investor

The full group has revealed a new potential investor and sought a six-week moratorium to facilitate negotiations with said investor.

A Dec 24 affidavit by representative Tan Boon Kee, also known as Roy Tan, stated that an SGX-listed company had indicated investment interest in the group.

Group representatives declined to state the identity of the company, citing confidentiality concerns and a non-disclosure agreement.

Earlier, the group revealed other potential investors from Australia and Malaysia with a proposal to hive off Shariot into a joint venture with a potential equity injection of S$100 million.

In the lead-up to the Dec 26 hearing, 22 creditors opposed the moratorium application. Creditors that had claimed the largest sums were DBS with S$102.6 million, Teck Wei Credit with S$74.2 million and Toyota Financial Services with S$43.1 million.

 

[Ake109]

On 12/30/2025 at 10:35 AM, Beehive3783 said:

Ok, I did a search before starting new thread. Just a bit surprised nobody started a thread about the biggest SG motoring related scandal this year.

https://www.businesstimes.com.sg/singapore/autobahn-rent-car-group-appeals-dismissed-moratorium-reveals-potential-sgx-listco-investor

So apart from PHV leasing companies driving up COE prices, the banks are also contributing to the problem.

 

It is in the banks' interest to drive up COE prices. A lot more meat for interest payments when cars are 200k instead of 80k. In this economy, everybody is yao.

[RadX]

Cos nobody cares