Felt so cheated by Borneo Motor

[Fedup-camry]

Would topping up $1k have made any difference...it simply means they will bid 1k more only what...

 

 

not really. it means they will put in the bid at the very next bidding exercise to clear your order, as they have all the incentive to lock in the profit and get the inventory moving

 

for non-guaranteed case, they will play along at no risk to them

[Fedup-camry]

it's a common practice that they wont bid early if the car is not on our shores yet but so far, i've never heard they fail to secure coe before.. i think this is the first time i heard of it.... ..

and IMO, they also kena snooked by the sudden 'announcement" of drop in coe... imagine how many order they took in during that period and how much they have to pay to bid to secure as much as possible to meet delivery....

so, really a lose-lose btw AD and buyer but we all know who is the actual winner...

 

 

every car dealer in town knows the quantity of COE is going to drop starting this April, this news already hinted since last year

[Fedup-camry]

liddat what difference is there from PI?!?!

 

 

at least BM will not be like some PI who are fly by nite (or drive by nite), here today gone tomorrow

[Fedup-camry]

A buyer seller relationship is based more on good faith then simple black and white. Reputational risk is worth more than that few thousand dollars

 

when pushed to a corner, only black & white could be counted on. reputation can be dispensed with ... after all, what reputation with more than 8 millions car on recall ?

 

[Fedup-camry]

Same situation as people who bought during CNY period for Komoco (Hyundai) also where they were having the 4k off. None got the car in the end.

 

 

I think today's COE bidding exercise reflects the anxiety of the AD to clear their orders on hand ...... so many bids for so few COE....worse is to come, April first round

[Fredo]

Hi TS, Sorry to hear about your situation.

I think you may still get your car if BM decided to use the open cat from the previous few bids.

Good luck to you.

 

[Fedup-camry]

The fact is SE said

 

1. Borneo has Never failed to secure COE

2. Most customer don't take the guaranteed package

3. COE is on the rising trend and come April 10 quota will be cut again, best if I sign now, today. Lock in the price. They'll get me the COE.

 

 

No, they'll never ask me to top-up. In fact, they've never attempted. 6 biddings are now over. The contract is now, null and void.

 

 

No, 6 bids not over yet. Only done the first bid today. Did your contract state the actual number of bids or the time period to secure the COE ? BM can still turn around say, hey still got 5 more tries to get it .....

[Alim]

I believe that most ADs will have Open Cat COEs on hand, these COEs are being used as standby for those who paid for "guaranteed COE", so when COE prices suddenly shoot up, they can use Open Cat to save on their margins. This how ALL car dealers play the COE game.

 

They will priced their cars with buffer plus Open Cat COE on hand, so shd the COE prices fall and they bid for you (Cat A & B), they will make more $$$.

 

Talk to the manager and try ask for Open Cat, see what BM says.

[Pultosky]

OMG! i'm totally in the same situation with you... i'm too felt so cheated by BM. Moreover, they didn't even suggested that 1000 top up for a guranteed bid to me... during the pre-sale, the sale person just keep stressing that it is never in BM history that they would fail bidding in the 6 non-guranteed category and told me to rest assure that i will get it!!... now what..??!? refund you and wipe of the situation, how about the compansation for the 3 month waiting....

 

i would have gotten an immediate delivery mazda during the cny festive.... condem BM now... for those who are still of interest to BM, this would be your warning.

[Ferraricalifornia]

please lor...

 

BM has already lost their trust in customers a long long time ago...

 

they are best in not servicing your car...

 

what they do is just collect your car for servicing, put the car up the jack, then bring it down...

 

then park it for 1hr, before you collect it again...

 

non-mechanics people like us can't tell and feel the difference what...

 

 

[Kar_lover]

 

Sigh....i can only sympathise...i may be in the same situation as u soon with C&C....sometimes i dun understand this whole thing, i was asked (and agreed) to top up $4k to upgrade to *guaranteed* COE after the govt announcement and SE told me i will get my COE today (still have the SMS from them). In the end didn't get (although they did not say i didn't get it - i did my own check on LTA website). To be fair they bid for me up to $28k and the final result was $28.3k - why didn't they just put in the last $300. They stopped bidding for me at 3.50pm so they can't give me the excuse that they were out-bid in the last minute, more like they decided to stop bidding. Afterall a big company like them should be more than capable of absorbing some losses - there must've been countless times in the past when they made additional profit from COEs that fell. They are not small time PIs, they're freaking listed! Isn't their reputation worth anything? Tmrw my SE will tell me the outcome of my COE bid....i still believe they eventually won't let me down and i will get my car. I m just kinda disappointed that they missed out on their promise for the sake of $300.

[The_Bear]

Bought my first Toyota in 2001.

 

Bought my last Toyota in 2001.

 

Bye Bye Toyota.

[Pckwpckw]

Their sales people is sucks, they are very yaya they sell because of the toyota brand the distributor is also sucks. Now the road if they don't wake up they will be ruin, for sure.

[Leepee]

Thank god u did not get your Coe today! Come the next round your Coe will cost more and ur car will have higher residual value due to higher Coe!

U r on guarantee Coe scheme, so not to worry. Sure get the Coe eventually la!

[Pckwpckw]

i book a subaru impreza last week and they got the COE for me even at 28,000 they really fullfill their promise, i don even need to top up coe.

[Fedup-camry]

Sigh....i can only sympathise...i may be in the same situation as u soon with C&C....sometimes i dun understand this whole thing, i was asked (and agreed) to top up $4k to upgrade to *guaranteed* COE after the govt announcement and SE told me i will get my COE today (still have the SMS from them). In the end didn't get (although they did not say i didn't get it - i did my own check on LTA website). To be fair they bid for me up to $28k and the final result was $28.3k - why didn't they just put in the last $300. They stopped bidding for me at 3.50pm so they can't give me the excuse that they were out-bid in the last minute, more like they decided to stop bidding. Afterall a big company like them should be more than capable of absorbing some losses - there must've been countless times in the past when they made additional profit from COEs that fell. They are not small time PIs, they're freaking listed! Isn't their reputation worth anything? Tmrw my SE will tell me the outcome of my COE bid....i still believe they eventually won't let me down and i will get my car. I m just kinda disappointed that they missed out on their promise for the sake of $300.

 

 

there is no reason why they did not bid higher since yours is "guaranteed" package, in order to get it done for u. May be their bidding department was not updated with the contract ? better check with the SE .....

 

I suspect they only bid without revising the bid one ........ so at 3.45pm they throw in the bid .... later tell u too late to revise lah .....

[Wayhow]

ya i was previously from the car industry and the mantra had always been "don't need to get guaranteed COE from Borneo Motors, sure can get one". you're not the only one. i bet both the SE and BM panicked when the quota premium rose like that.

 

if i may quote from The Bogleheads' Guide to Investing, "never fail to buy insurance because the odds of something happening are small." the example given was buying flood insurance for your home in a desert city. if the destruction of your property due to flood would leave you financially crippled, you'll need flood insurance no matter what climate you're living in.

 

speaking from the other side of the table, it's rather common for customers' COE to go unbidden for a few rounds. the reason is that you are not the only customer. no matter how big the dealership, there will always be a cap on how much they are willing/able to pay. therefore, you're the unlucky few/many who didn't get their COEs on time before the market crashed.

 

and i agree with Eyke. BM is just choosing the lesser of two evils. if you want to talk about reputation risk, then i say BM really don't need to open shop tomorrow if they're not able to secure the guaranteed COEs. it's just a numbers game. the guaranteed guys come first, and BM is willing to take a bigger loss (at the expense of non-guaranteed guys?) to uphold their contract.

[Pultosky]

i'm in totally agreement on BM bad reputation.

 

i'm begining to wonder when they said that it's never in the history which they can fail to secure bid in the non-gurantee category is true or not.. wonder if it work if all whom suffered the same stragic are gathered and show to BM they had already failed these bunch here!...