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Showing results for tags 'Dealers'.
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Or vice-versa. Been seening plenty of "direct owner" ads on sgcarmart wif such descriptions: "Confirm Loan Approval For Bad Credit/Ex Bankruptcy" "Can Arrange For Balloon Screen, Monthly Installment From $398" "Bank Interest Rate At 1.88%, Full In House Loan Available" Hmmm.....wonder if some of those scumbag dealers are selling as "direct owner" to avoid the Lemon Law?
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I own a KIA k3(top specs), around 11months, average mileage, accident free. I itchy backside wanted to change to the face lifted 2016 Vezel or Sportage 2016 and so i went to test water on how much my resale value of my k3 is. Quotes received from the various websites and PI. Sg Motorist - 74k Sg Carmart - 70k to 75k PI - 70k. If i were to take the price of 74k, my car depreciates by 40k in less than a year. But then I saw a 2013 Forte(the previous model, not k3) is selling for 75k by a dealer at sgcarmart(i assume the dealer bought @ 65 to 70k from the previous owner?). My question is are they trying to carrot me or the price is really so low? How do i really know the true value of how much my car can fetch? Anyone i scratch my backside already, not itchy anymore. Now just curious is this the norm.... -
Hi, any bros here got experience with PI? I've always bought from AD but for my next ride i'm considering PI as well. Is there anything that one needs to take note? And also i realise the recommended selling price indicated here in sgcarmart can be quite different from the price listed by some of the PIs. Any idea why is that so? Thanks in advance for any helpful advice.
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Hi all, i would like to use this thread to share information when you are looking to trade in your cars to dealers. By making use of this information here, we can provide the trade in price that the dealers are offering for your current car, then the people who browse this thread can also offer you a price that is above what the dealer quotes you. WIN WIN for both sellers and buyers. Sellers can to sell their cars at prices higher than what dealers offer, buyers can buy used car at a much more reasonable price. Hope that i can start this thread to make buying/selling prices more reasonable, more transparent. format as shows. Make: Model Colour COE Mileage OMV Handover date Dealer $$$ -
Did anyone notice the price hikes across all model and dealers? When I bought my car last June, my monthly depreciation was approx 700 Now Most cars are atleast 1k mthly depreciation among All Dealers listing amid increment in coe quota 😅
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After owning this hyundai matrix 1.6 M for almost 10 years. It is due for scrap this 4th mar 2016. Any dealers to recommend(pls pm).
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http://www.straitstimes.com/singapore/debt-collectors-called-in-after-car-deal-turns-sour Mr Yee, 36, bought a Chevrolet Optra from Gold Automobiles in February, but it broke down a few weeks later after suffering problems such as faulty air-conditioning and a defective car key. Mr Yee said he bought it so he could drive his 60-year-old mother between their Ang Mo Kio flat and his aunt's Jurong home, as his mother is caring for his newborn cousin. He had the car towed back to Gold for repairs. "I haven't seen it since," he said. "To my horror, I realised two months later that the car ownership had not been transferred to me."
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Hi, need some opinion from experts here as I have no experience buying a used car. Right now, I got my eye on a 2009 Honda Civic and have some doubts about the finance and reputation of the deal. I intend to pay full cash without any loan. Understanding that such arrangement would means that the price be mark up in a way. What is the norm market mark up for this case. They mark up my price around $2k. They propose a loan of half of purchase and mentioned for 4 yrs but I make full settlement after the 6th month without any penalty from the bank. But a repayment of unused interest of 70% to 80%. Is it so? I saw this particular car twice on the internet on SGcarmart. The first is sold and now the ad is opened again. Is there any reason for me to be careful of. Heard a lot of scams outside by second dealers a lot.
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Hi Guys, Can assist in providing the list of car dealers that offers balloon / special loan scheme ? Car dealers in the forum that offers such scheme please pm as i intend to trade in my car for next purchase. Thanks.
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My friend recently wanted to buy new car, sold his 08 Avente 1.6(M) to 2nd hand car dealer at a low price 30K, the dealer's excuse is manual no buyer, so cannot give higher, immediately the dealer advetisted the car at sgCarMart price S$41888, and after 2 weeks sold out, My friend felt "chopped carrot" looks like 2nd hand dealers very easy earn $$$, thinking to join this industrial
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Hi forumers, I would like to have some recommendation for car dealers who do a consignment for my car which I intend to sell. Appreciate for your kind recommendation. Open to dealers for discussion as well. Thanks
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Car buyers can start planning their purchases next year. Let's just hope the loan rule still applies, just to dampen the demand a little. http://m.sgcarmart.com/articles/articleinfo.php?CT=n&AID=11131 With a maximum of about 52,000 cars, which can be deregistered between now and mid-2015, dealers are preparing for a big spike in Certificate of Entitlement (COE) supply within the next year, reported The Business Times. Deregistrations are the main component in determining each new COE quota and over the past four years, the number of cars scrapped has been low. This, and a lower allowable vehicle growth rate and COE clawbacks due to previous oversupply, have put a squeeze on COEs. As a result, the number of private passenger cars registered in 2013 was just 22,008 units, while only 27,000-plus new cars were put on the roads in each of the preceding two years. The director of a volume dealership quipped, "Compared to those lean years, 2015 will have at least 50 percent more car COEs, if not 75 percent more.'' The situation looks even rosier beyond that. According to the Land Transport Authority, from mid-2015 to mid-2016, a maximum of 107,000 cars are due for deregistration, or double the preceding period's figure. And this pool remains about the same size for the following 12-month period from mid-2016 to mid-2017. So it is no surprise that many distributors are ramping up operations. The Mitsubishi brand, for example, is returning to Cycle & Carriage's Alexandra Road showroom. Some brands are expanding their model lineup. For Opel and Chevrolet, distributor Alpine Motors is bringing in two new models each. The four cars will be Alpine's first new model launches in two years. But others may be more cautious about over-extending themselves. Over at Borneo Motors Singapore, the authorised Toyota distributor is said to be streamlining its Pre-Delivery Inspection (PDI) operations and securing new facilities to handle the expected rise in sales. But it appears investment in other areas may take place only when the actual boom materialises.
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Somehow, I am not sympathetic for them, ie car dealers. Why le??
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http://www.straitstimes.com/news/singapore/transport/story/more-used-car-dealers-sour-over-lemon-law-20140502 More used-car dealers are crying foul over a law meant to protect consumers, claiming that some are abusing it to demand the replacement of vehicle parts worn down by age. Just six months after the lemon law was implemented in September 2012, complaints on defective goods in the motorcar industry jumped fivefold to 98 cases, compared to just 19 cases six months earlier, said the Consumers Association of Singapore (Case). It has since handled 302 complaints linked to the motorcar industry under the lemon law, which compels businesses to repair or replace a product found to be defective within six months.
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Complaints against motor vehicle dealers have accelerated this year, and Singapore's consumer watchdog wants the industry to take action. The Consumers Association of Singapore (Case) received 2,438 complaints against the motor vehicle industry from January to September. This already exceeds the 2,255 made in the whole of last year - when it topped Case's list of most-complained about industries for the first time. Most of the complaints were aimed at used car dealers. Common gripes included defective parts, late delivery, refusing to repair defects and keeping customers' deposits when loans were not approved. To mitigate the problem, Case wants all members of the Singapore Vehicle Traders Association (SVTA) to provide after-sales service, including repairs. It also wants them to pay for third-party inspections of all cars and repair any defects before selling them. Source: http://www.straitstimes.com/breaking-news/singapore/story/grouses-about-car-dealers-speeding-20131005
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Some luxury car dealers are gearing up to lure buyers to their showrooms, beginning this weekend, in a bid to clear stocks of vehicles that will be reclassified as premium models from next February. The move follows changes in the certificate of entitlement (COE) system, announced on Monday, in which a car's engine power will be included as a new criterion. Cars with over 130bhp or an engine exceeding 1,600cc will fall into Category B. Dealers planning to go on a sales drive include Volvo agent Wearnes Automotive, which is looking to sell models like the S60 and S80. These currently belong to Category A - which caps engine displacement at 1,600cc - but will be re-classified under Category B next year. Mr Victor Kwan, managing director at Wearnes Automotive, said the dealership will start clearing its 1.6-litre engine cars with "aggressive pricing". Source: http://www.straitstimes.com/breaking-news/...-stock-20130911
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Good luck to them on holding expensive goods! will there be fire-sale coming soon? they mark up 20-30k for 2nd hand cars above parf+body...time for them to jialat jialat
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The Singapore Vehicle Traders Association on Tuesday met the Monetary Authority of Singapore (MAS), calling for a review on loan curbs for used cars. The association represents more than 400 used-car dealers in Singapore. It is proposing that used-car buyers be allowed to borrow up to 80 per cent of the purchase price and for the loan to be serviced over eight years, instead of 60 per cent and five years under current rules that took effect late February. The rules were lifted temporary for a 60-day reprieve period from 6 April to 4 June. The association, which has been monitoring feedback from its members, said many dealers are suffering, with business dropping by at least 50 per cent since the reprieve period ended. Raymond Tang, honorary secretary of the Singapore Vehicle Traders Association, said: "New cars and used cars having the same type of loan curbs will (result in the) majority of consumers buying new ones. This adds more pressure on new cars, especially now when the COE supply is not enough. After the 60-day concession period... we can see COE prices rising tremendously, going as high as S$81,000. "So we urge MAS to consider making the loan curb different for the used and the new cars... (to) ease pressure on new cars and cool COE prices." Source: http://www.channelnewsasia.com/news/singap...mas/775634.html
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now car dealers have to offer special??
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Most used-car dealers and small motor firms Channel NewsAsia spoke to are not jumping on the car leasing bandwagon, despite bigger players getting in on the act since the authorities imposed borrowing limits on vehicle purchases. They cite high costs of running a leasing business and unfamiliarity with how to do it as reasons. Still, a few are eyeing the business model as an alternative to car sales. Car leasing schemes are a mid-point between short-term rental and ownership, where you typically hold on to a vehicle for over a year and pay a monthly fee to use it. The car goes back to the leasing company after that. Not being stuck with a depreciating asset like a vehicle has drawn people to the scheme, plus the fact that a sizeable downpayment isn't needed. The government's imposition of loan curbs means buyers have to foot a minimum 40 per cent downpayment for vehicle purchases. Observers have noted that car leasing is one way of beating the curbs. Others call it an option. Eddie Ho, general manager of Sime Darby Services, said: "It's not a way to beat the government's system but it's just another alternative for motorists to consider, because there's no way we can beat the system. "Ultimately, leasing...to me is like another dish on the menu for the companies to sell." Not all motor firms are keen on leasing, since much of the onus falls on the leasing company to keep leased vehicles in order. Many companies simply don't have the resources to do it. Still, some plan to capitalise on the opportunity. CarTimes Automobile plans to starts a leasing arm in June 2013 while Yong Lee Seng Motor has been dabbling with leasing for around three years. Raymond Tang, Yong Lee Seng's director, said: "The difficulty of doing it is that a lot of follow-up, a lot of support you need to give to these consumers. Or else, the consumers will not be happy...what happens if the car breaks down in the middle of the night? You must have workshop support." Observers note that the government's "car-cooling" measures have shifted more attention to the leasing business, although it has been around in Singapore for over a decade. Source: http://www.channelnewsasia.com/news/singap...all/702426.html -
Noticed recently in Sgcarmart that some cars that was listed selling for $50K will suddenly have prices drastically increased to $80K and after a week will have status SOLD. I suspect dealer raised price on purpose so buyers can then take a 100% loan for the car ( 60% of $80K = $50K ). Is this a legal loophole for the MAS Restrictions ?
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Ok! the gauntlet is thrown down! From the other thread, it seems there are many 'HONEST' used car dealers out there. As with all things, there must be a BALANCE! Thus, as there is a BLACKLIST on used car dealers, this would be your WHITELIST! I am starting this thread so that: 1. We can know the good ones, and for that matter, their name does and should not appear in the black list 2. MCFers know who to go to and get an honest deal with no nonsense 3. Build and possibly generate interest and revenue for the good ones, and their repute builds! I challenge those who mentioned they are honest to first state their claim. Along the way, their name should REMAIN in good standing and that will be proof of the pudding. This is a win-win and we can attest and thus see the real decorum of the industry! Disclaimer: I maintain tht and will still remain that the industry is filled with crooks, and it is my personal bias and nothing to do with me being a mod or not! In short, the only honest used car dealer to me, is a dead one!
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Any recommendations for reliable ones? Thanks!
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A 60-day reprieve has breathed new life into a used car market that was badly hit by drastic loan curbs. TODAY's senior photojournalist Ernest Chua visited the used car mart at Turf City last week where bustling business returned, after sales slowed to a trickle following the curbs which took effect on February 26. On April 5, the Monetary Authority of Singapore said it was lifting loan curbs for 60 days for less than 7,000 used cars. The announcement came after several appeals from used-car dealers. With the authorities making clear that the period will not be extended, several used car dealers TODAY spoke to are making use of this window to clear their stock, before restructuring their business or getting out of the line for good. One of them, who only gave his name as Philip, said: "Now you see good business, but At the end of the grace period, you will see a lot of company downsizing and some are already preparing to close down." Another dealer, who just joined the industry two years ago, said he would most likely go back to his previous job as a property agent. According to the Singapore Vehicle Traders Association, about 30 per cent of the used cars which qualify for full loans were sold within the first week of lifting the loan curbs. Source: http://www.todayonline.com/singapore/last-...sed-car-dealers
