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Showing results for tags 'Buyers'.
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Rule change allows car buyers to access bigger loans https://www.straitstimes.com/singapore/transport/rule-change-allows-car-buyers-to-access-bigger-loans
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Read in afew different threads that there are quite a few mcf forumers like myself who are looking to get an MPV soon.. Starting this thread to share our findings and perhaps there may be enough like minded brothers out there for a group buy, with stronger bargaining powers since unity and numbers are strength : ) First off, anyone seriously considering the following : 1. Toyota Wish 2. Chevy Orlando 3. Mazda Biante 4. Opel Zafira
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Anyone bought any PI cars and experienced this please share which PI allows. Thanks
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Good idea wonder how he charge his customer?
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MP Ong Teng Koon suggests "ABCD": Additional Buyer’s Car Duty By Linette Lim POSTED: 28 January 2016 at 9:00 PM UPDATED: 28 January 2016 at 9:59 PM SINGAPORE: A tax on a second, and subsequent passenger cars – similar to the Additional Buyer’s Stamp Duty in the residential property market – can help improve the spread of car ownership in Singapore, said MP Ong Teng Koon in Parliament on Thursday (Jan 28). “Could we not consider here, an Additional Buyers’ Car Duty – ABCD – which could be set as a percentage of the prevailing COE price, for those who wish to buy a second, a third, or fourth car?” he asked. He added: “Perhaps a simple mechanism would be to step up the price of each COE. Property investors also face tighter restrictions on mortgages, so similar might be applied in the car loans market.” The MP for Marsiling-Yew Tee GRC said the idea is to use the proposed mechanisms to “price some second car buyers out of the COE market, thereby lowering the price and improving affordability for first-car households”. As of 2014, there are 536,000 passenger cars registered in Singapore, figures from the Land Transport Authority show. Of this, approximately 45 per cent of households own at least one car, while 8 per cent of households own more than one, said Mr Ong. He also proposed mandating that car dealers explicitly show a breakdown of the cost of the car, and how much gross profit they are making. And he suggested the Government take the lead in helping Singaporeans adopt electric vehicles (EVs), by facilitating the installation of vehicle charge points and earmarking parking lots for EVs. “The infrastructure required for Singaporeans to truly live in a car-lite way – such as a much denser network of MRT stations, or even the advent of autonomous car-sharing schemes – is still years away (from realisation)”, said Mr Ong. He said in the meantime, solutions are needed for problems surrounding cars and car ownership. - CNA/ll AA MediaCorp News Group ©2015 MediaCorp Pte Ltd -
MOTOR companies are coming up with innovative ways to entice car buyers put off by the recent cooling measures. These range from a leasing deal that allows customers to drive away with a new Mercedes-Benz E200 with no downpayment to a buyback scheme that lets them own a Porsche Panamera for just $788 a month. The arrangements are offered mainly by companies selling premium and luxury brands, as these are the ones most affected by the cooling measures. In February, the Government restricted most car loans to 60 per cent of the purchase price - compared with up to 100 per cent previously - and imposed a tiered taxation system placing the heaviest burden on luxury vehicles. Source: http://www.straitstimes.com/breaking-news/...buyers-20130529
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A summary of my positive encounter with a steady buyer: Posted an ad to sell my used tyres. Received an enquiry last night and the seller on the deal with a reasonable closing price. Deal went on as planned and it was concluded. Buyer requested for a small discount which is very acceptable to me, in short, not LOW-BALLER. Friendly young buyer and highly recommended. Nick is tommimakinen. contact ends with 1412 Cheers.
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Great move by ebay, as a seller I welcome this great change. Base on my more than 7 years selling experience, about 70% of our locals click buy but never continue to make payment. Of the 30% who make payment, 70% didn't give feedback.
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MCFers are definitely not the average car buyers as here all buy cars with cash. MORE and more premium-brand customers are taking vehicle loans as car prices rise but there does not appear to be much change among buyers of mass-market makes, say some motor distributors. They refuse to be named or give details, citing confidentiality, but say their numbers prove it. "We have seen more buyers taking financing over the last three to six months," said the general manager of a small high-end make. He added that the average loan quantum taken is 80 per cent of the car price, or $120,000 to $130,000, to be repaid over eight to nine years. "Traditionally, the loan quantum goes up with the car price for our brand, that is to say, the average loan quantum was about $10,000 lower three months ago," he explained. For a loan of $100,000 repayable over 10 years, the rough guide is that a $10,000 increase in loan quantum translates into an extra $100 in monthly instalments. "It's not that painful when it is spread out over 10 years as it only costs slightly more each month," he explained. "Most Singaporeans are not getting richer, so they have to survive by taking bigger loans." But the sales manager of a mass-market make says that the hire-purchase situation over the past half year has not changed for his so-called bread-and-butter models, the majority of which have 1,600 cc engines or smaller. "Most of them are still applying for 100 per cent loans over 10 years," he says. Over at a big luxury brand, however, a senior manager said that his company's "loan penetration rate" has climbed in the last three months. "Our average quantum has gone up by about $20K to $180,000 in the last quarter," he revealed. "And the number of people requiring vehicle financing has increased by 3 or 4 per cent." Today, about eight out of 10 customers take a car loan. A manager at a sports car dealership also affirms the rising trend for financing but offers a different view of things. "It is true that in the last three to six months, our loan business has increased by 15 to 20 per cent," he says. "One year ago, about 30 to 40 per cent of my customers took up a loan. Now, it's 50 to 60 per cent." But he says the real reason is not the increase in car prices. "A $20,000 to $30,000 difference in COE premium is not significant for my customer profile," he said, pointing to his line-up of models, which range from about $300,000 to $800,000, including COE. "Rather, it is because the cost of borrowing is at an all-time low of 1.88 per cent." According to him, the interest rate a couple of years ago used to be 2.5 per cent or higher. As for the increase in loan quantum, he said that bank promotions with attractive rebates have been instrumental in getting more of his customers to sign up for financing. "They probably want to keep more cash for investments," he added.
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what is the penalty for returning? can nego with developer to "offset" (ie: $10K-$20K?) which is the penalty bear by previous buyer if buy a returned home is considered 2nd sales (old shoes) ? >>> sources from ST Buyers return 150 private homes in May Figure a five-year high but spike 'due mostly to April's robust sales, so rate largely stable' By ESTHER TEO PROPERTY REPORTER Private home buyers returned 150 units to developers last month at projects such as Sky Habitat, The Tampines Trilliant and Hillsta - the highest number in at least five years. These units, bought in April, made up 5.7 per cent of the more than 2,600 non-landed homes, including executive condominiums (ECs), sold that month, analysis by property research firm Square Foot Research shows. Despite the high absolute figure for returns, experts say that in percentage terms, the rate is in line with last year's. They add that the spike in absolute numbers is largely due to April's robust sales which had buyers snapping up the most number of units in almost three years.
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BEWARE of this used watch dealer in Hong Kong, Kowloon Mongkok. They are freakin crooks. One time they will tell one thing and the next time they will tell a totally different story. I was aiming one used watch yesterday, the salesman offered to sell me at a discount. When I went to the shop today, they told me straight in the face NO DISCOUNT. PRICES STRICTLY IN NETT, and in aggressive manner. Best thing is, the very same salesman I talked to yesterday, was like totally lost his memory, denied everything he spoke yesterday. DO AVOID THIS SHOP OF CROOKS!!! Mongkok Lin Sing 68 Argyle Street, Mongkok, Kowloon, Hong Kong
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http://www.straitstimes.com/BreakingNews/S...ory_737997.html 4 times a day is real time?
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Your view as per title
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Some owners (in fact 99%, due to human nature to sell their used cars at highest possible prices regardless of the cars' true/fair values) will not hesitate to lie about their car when they try to sell it. If I have to sell my cars, I would probably do the same, to be honest. I would probably pretend that the car is flawless even if it's far from being that. There are innocent car buyers who are not, or have no friends, knowledgeable enough to help them check if the cars they are buying are good relative to the asking price. And workshops who may help 'check' the cars may just are as dishonest as the sellers. Given the above situations, the only hope for such buyers are organisations like CASE or rules/laws to protect them. One such possible rules would be sellers or their authorised agents are obliged to provide factual history of the cars which are for sale. Borneo Motors made a statement in Weekend ST that they will never release such infoon the cars (eg service/repairs records etc) if their customers are selling their cars and the buyers ask BM for the info. However they will provide the info if the buyers are buying used cars from BM. The reasons for the 'double-standard' (maybe be too harsh a description) are obvious. This is where CASE can come in to protect the innocent buyers if it's worth its salt and serious about encouraging fair plays. Case should at least make it mandatory for all ADs/PIs, and workshops to disclose repairs/service info on cars if potential buyers ask for it. Its not a matter of privacy, its a question of preventing false info given to potential buyers, such acts amount to fraud in busines transactions and therefore CASE should step in to have such a rule in order to reduce frauds. If the specifications, years of manufacture etc are required to be made known to buyers in new car sales, why used cars' history are so 'sacret' that CASE choose to allow sellers to lie just to 'con' the buyers to pay more than what the cars are really worth? We may argue that historically buying used cars always has its risks, but the risks are mainly man made ie allowing the sellers to lie. If something can be done, as suggested above, to cut down such lies, why not?
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http://www.straitstimes.com/BreakingNews/S...ory_672432.html Why these type of news never report before GE? FOREIGN home buyers snapped up 16 per cent of all private homes sold in the first quarter - the highest quarterly percentage since data became available in 1995. Experts say the high foreign proportion in the market is because such buyers have been less affected by the rounds of cooling measures which have muted local interest. The overseas impact has been telling, according to the DTZ Research report that contains the new buying figures. Its analysis of caveats lodged for both new and secondary sales found that foreigners bought 1,028 units in the three months to March 31. That 16 per cent share of the market tops the previous record of 15 per cent - or 784 units - in the fourth quarter of 2007. Foreigners were also active in the last quarter of last year when they bought 1,092 units, accounting for 13 per cent of the market. Demand from permanent residents (PRs) remained stable at 17 per cent in both quarters. DTZ said Chinese buyers - including permanent residents - also set a record, accounting for 24 per cent of purchases made by non-Singaporeans in the quarter. They have overtaken Malaysians for the first time. Foreign buyers 16% + PR buyers 17% = 33% in this first quarter!!! f--k U FOREIGNERS!!!!!! may a thousand tabasco bottles ram up ur penis holes
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COEs breach $70,000 IT IS going to be a blue, blue Christmas for car buyers and sellers alike after certificate of entitlement (COE) premiums continued their phenomenal spike. While two out of five COE categories ended slightly lower at the latest tender on Wednesday, the other three went through the roof. COEs for cars up to 1,600cc softened from the previous tender, ending 3.1 per cent lower at $46,129 - still among the highest levels in the past 10 years. COEs for cars above 1,600cc, however, stayed resilient, rising by 15.2 per cent to close at $72,001. Open COEs - which can be used for any vehicle type, but end up mainly for bigger cars - also continued their surge, hitting $76,102. They chalked the biggest percentage gain on Wednesday of 17.3 per cent. Commercial vehicle premiums ended 4.7 per cent higher at $33,501, while motorcycle premiums were 8.8 per cent lower at $1,551. Source http://www.straitstimes.com/BreakingNews/S...ory_616736.html
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Not too long ago, I paid my final tribute to a trusty friend on this blog. And like the saying goes, "out with the old, in with the new". As a replacement for my trusty ride, I will be welcoming a spanking new Suzuki Swift Sport some time within the next week. Now, the wisdom of buying a new car at record high COE prices or the debate over the Swift Sport are all topics that have been discussed on this blog. So, let us leave those topics aside. Today's post is all about the pre-car collection excitement that I have been experiencing. Now this is by no means my first ride; but, somehow, I am still feeling that same amount of excitement and impatience that I felt years ago when I was waiting for my very first ride. I am trawling the Internet for facts, info and potential modifications. I am mentally drawing up plans for all the stuff I intend to do to it. Lets just say that it is gonna be a pretty long Xmas wishlist that Santa will be getting from me this year! Honestly, words can't really describe this heady mix of excitement and impatience that is surging through me as I count down to car collection. I guess I really am a bit (or a lot) of a car freak! Well, anyway, I have been wondering if I am the only freak who gets this jumped up about collecting a new car. This is because when my Dad got his new car, he was a picture of calm. The 3 month wait didn't bother him one bit. In fact, his reaction when informed by the SE that his car could be collected earlier, his reaction was "So fast?". And I am guessing that his attitude is probably the predominant one among Singaporeans. The car is more of a transportation tool and is just like buying a household appliance. Nothing particularly exciting about it. Even less so, if you already have a car to use. Or does it have to do with how much you desire the incoming car? So here's my question to all you readers, which camp do you belong to? Freaks or utilitarians? In the meantime, I am off to continue the (agonizing) count down to my car collection. Until next time!
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You guys notice the new F10's OMV some less than 40k but their selling price still so high. In comparison, a 523i with highline omv is around ~43k but an E250 which is going bout the same price has OMV of 57k. PML carroting all the new bodoh 5 ser buyers OMV so low means ARF and all taxes should be correspondingly lower but yet no reduction in price
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Hong Kong Cautions Home Buyers After Land Auction (Update3) Share Business ExchangeTwitterFacebook| Email | Print | A A A By Kelvin Wong and Sophie Leung June 9 (Bloomberg) -- The Hong Kong government
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How can...its was so hot last few months....prices increased by second hand car dealers...sell one car can make super profit due to the COE increase!\ http://motoring.asiaone.com/Motoring/News/...1-217713/2.html >> ASIAONE / MOTORING / NEWS / STORY On COE prices COE prices hit a high of about $45,000 for cars above 1,600cc and $49,000 for the open category last month, according to LTA statistics. This is the highest since it began rising in January. Previously, the COE was hovering around $20,000 for about six months before the rise. The rise was due largely to a reduction in COE quotas by LTA last month. Motor traders and industry watchers had said that COE prices are unlikely to hit prices seen in 1994, when premiums peaked at $110,000, reported The Straits Times last month. For Mr Rahmat, his 18-member sales team at Car City, a parallel importer, has shrunk to just five people. The company sells Japanese, Korean and continental cars. There was a time when he was glad just to catch a 15-minute breather between attending to customers. Now,walk-in customers are fewand far between. Said Mr Rahmat: "Our showroom used to be so packed, even the sales director would have to help attend to customers. "Now, he can stay in his room because there are just so few customers. Many colleagues knew they just couldn't survive in this industry any more and decided to change jobs." Some have set up their own businesses while others have moved to the real estate industry hoping to earn more, he said. Mr Rahmat now spends his day chit-chatting with his colleagues while waiting for the occasional customer to show up. He considers himself lucky as his two grown children help to support the family. "I have some savings and my children are working, so it's not so bad. But some of my colleagues have even fallen into debt because they earn too little," he said. Few customers When The New Paper visited the Turf Club Automobile Emporium onTuesday, there were few customers. Some dealers said the situation is the same on weekends. Said Mr Rahmat, who was casually dressed with his shirt tucked out and unbuttoned at the top: "We used to wear ties and tuck our shirts in. But now, there's no point dressing up. There aren't any customers to serve." Over at Alexandra, the situation at some of the spanking new showrooms was the same - few customers, many sales executives. Car salesmen The New Paper spoke to said they typically earn a basic salary, but rely on sales commission for the bulk of their income. A sales executive, who wanted to be known only as Ms Lim, said: "If I'm lucky, I can sell one car a month now. But I have colleagues who have not sold a single one in a few months. "Customers now think thrice, even four times before buying a car, whereas before they used to make quicker decisions and doless homework." The number of new cars registered fell by 29,000 - from about 97,000 in 2008 to just 68,000 last year, according to the Land Transport Authority's (LTA) website. The used car market, on the other hand, has grown. In the first three months of this year, 25,754 vehicles changed hands, up from 19,704 in the same period last year, according to a Straits Times report last month. Mr Damien Lim, 34, an IT manager, was one of those who chose to buy a second-hand car over a new one. "I got my Honda Stream within two weeks and I avoided the disappointment of not getting a COE, especially when prices were going through the roof," he said. Mr Lim paid $65,000 for his three-year-old car. A new one costs about $90,000 including COE. Professor Paul Barter, an urban transport analyst, said it's unlikely COE prices will return to as low as they were before. He said: "With the supply of COE down and the demand of cars remaining constant, prices naturally rise. "And if the economy continues to do well, the high COE prices look set to stay for awhile. Or at least until people become discouraged at the high COE prices and switch to public transport." This article was first published in The New Paper.
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HIGH certificate of entitlement (COE) prices are putting the brakes on off-peak car (OPC) sales, even as they were starting to take off after revisions were made recently to make such cars more popular with motorists. Now that car prices are in the alpine territory, the $17,000 tax rebate for buying an off-peak car no longer looks so attractive. First-quarter figures from the Land Transport Authority show a noticeable drop in new registrations of off-peak cars, which can be driven without a fee on weekends and between 7pm and 7am on weekdays. In the first three months of the year, a total of 1,639 new vehicles were put on the road, versus 2,160 in the same time last year and 2,637 in 2008. Because COE premiums, and consequently car prices, have soared in recent months, motor traders said the $17,000 rebate now represents a smaller saving. This has either turned off would-be buyers, or priced them out. Said Mr Teo Hock Seng, managing director of Hyundai agent Komoco Motors: 'A $17,000 saving on a $70,000 car is very different if the car was $35,000.' The cars have also simply become less affordable, rising in price by at least $20,000 in the last year. An entry-level off-peak car costs about $40,000 now. Mr Albert Pang, managing director of Chevrolet dealer Alpine Motors, said: 'When OPCs were about $20,000-plus, customers with monthly incomes of $1,000-plus could enter the market. Now, this group is absent.'
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SINGAPORE : Some car buyers who had ordered their vehicles just before recent jump in COE prices have ended up paying more. They had chosen the "Non-guaranteed COE", and would now have to pay an additional S$10,000. Car dealers said most buyers opted for "non-guaranteed COE" when COE prices were on a downward trend. This reversed when COE prices started climbing, with more going for "guaranteed COE", even if they had to pay S$3,000 to S$5,000 more. COE prices for small cars have nearly doubled since January. Now, COE prices for small cars stood at S$34,000, up from about S$18,000 three months ago. Some car dealers said industry players are struggling to cope with the increase. The Singapore Vehicle Traders Association (SVTA) said it is important to pick the right COE package at the time of purchase. It also warned that verbal agreements with car dealers are not enough, adding that it is best to have everything spelt out in black and white in the form of a contract. SVTA Honorary Secretary Raymond Tang said: "Some dealers say their company has never failed in bidding for a COE before, but this doesn't mean they won't fail to do so in the future." Car dealers said buyers can also ask for a refund of their deposit, but most of them have chosen to top up instead. - CNA/al source http://www.channelnewsasia.com/stories/sin...1051200/1/.html
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Proving that money is no object, one Middle Eastern car-lover is said to have bought 10 Aston Martin One-77s valued at US$1.4 million ($1.97 million) a piece. Why 10? The generous Arab wants to give the cars to his family members. To ship the cars out to his desert domain, the batch cost comes to a pretty US$23 million bill. Only 77 of these beauties are going to be made. And cars aren't the only things the Middle Easterners seem to splurge on. Over in Abu Dhabi, a number-plate bearing solely the digit
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SINGAPORE: Car dealers have been revving up their promotions this holiday season. According to them, their discounts and other promotions have been bringing in more customers. Discounts on new cars range between S$2,000 and S$9,000. One car dealer said giving away S$2000 discounts has helped boost sales in his showroom by 20 per cent this season. Other car dealers have slashed as much as S$6,000 for certain models, while some others are luring customers with lucky draws. Some dealers said that some car buyers are waiting for Lunar New Year to be over before they make their purchase. However, some dealers said this may not exactly be a good idea. [size="6]Alvin Lim, sales consultant, Komoco Motors said: "Usually after the festive season, the prices may go down. But in this case, it may crash with the April COE reduce period, whereby, the COE is expected to go up very high. "So let us say if everybody is waiting for the same time to come in after Chinese New Year, I believe by then, it could push up the COE price as well. So I don
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