Pss2 2nd Gear February 10, 2015 Share February 10, 2015 http://www.sgcarmart.com/used_cars/info.php?ID=456797&DL=1027 Was looking at this car. Price was $29,000 when status was available. After status set to pending as buyer paid a deposit, price increased to $37,000??? Is this an example of overtrade? ↡ Advertisement Link to post Share on other sites More sharing options...
Watwheels Supersonic February 10, 2015 Share February 10, 2015 Haha.... No. The dealer now is open to whoever offers him a higher price even though some buyer paid a deposit for it. Highest bidder wins. Link to post Share on other sites More sharing options...
Vhtfhwlego Supercharged February 10, 2015 Share February 10, 2015 http://www.sgcarmart.com/used_cars/info.php?ID=456797&DL=1027 Was looking at this car. Price was $29,000 when status was available. After status set to pending as buyer paid a deposit, price increased to $37,000??? Is this an example of overtrade? 29k during the point of purchase = 14.5k require for down payment (50% loan) 37k after sale = 18.5k require for down payment. So if owner take 14.5k loan over the "purchased amount" of 37k = 40% loan on the purchased amount. So the bank look at it in another way, lesser risk to lent. Link to post Share on other sites More sharing options...
L23 6th Gear February 10, 2015 Share February 10, 2015 http://www.sgcarmart.com/used_cars/info.php?ID=456797&DL=1027 Was looking at this car. Price was $29,000 when status was available. After status set to pending as buyer paid a deposit, price increased to $37,000??? Is this an example of overtrade? Just to tell you that the buyer have no money for the required DP la... The dealer is using this way to work around the DP ruling.. Stupid policy with lots of loop hole.. Link to post Share on other sites More sharing options...
Vhtfhwlego Supercharged February 10, 2015 Share February 10, 2015 Just to tell you that the buyer have no money for the required DP la... The dealer is using this way to work around the DP ruling.. Stupid policy with lots of loop hole.. Wouldn't say stupid. A mark up of 8k on sale price = 4k less for downpayment. DP ruling wee out 10 years loan buyer + 0% dp buyers. Many will scrap their cars between 2016 & 2017. For BB cars owners, during the point of purchase 8/9 years ago, they will have parf of $7k in 2016/2017. 7K D/P will limit their next car purchase which inturn caused a demand for in the 2007/2008 reg cars which these cars will increase in value causing them to be out of their budget. ↡ Advertisement Link to post Share on other sites More sharing options...
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