Parallel importer Frankel folding up over debts

[Vader_car]

eh... you better check before you shoot leh.....

 

this is how it works, if banks do not want to loan the owner, the PI may choose to loan them on a higher i/r, while the PI will get a loan from the bank at a lower i/r. The PI will earn the difference in i/r. The owner will use the car as collateral to the PI while the PI will use the same car as collateral to the bank.

 

So if any problem, is between the owner and the PI while if PI any problem is between PI and bank BUT it is possible for bank to tow the owner car if the PI has defaulted in payment to the bank. Then the owner has to sue the PI instead of the bank.

 

If no such thing, where you think got such think as Leasing company?

 

Looking for 2nd car but after read the thread, worried me If i get the 2nd car from car dealer, the bank A can tow away my car no matter whether is in house or bank B loan if the car dealer have finacial issue. The car is mortgage to the Bank A by the car dealer and the car still belong to Bank A. So i still need to make repayment to Bank B when my car was tow away?????

[Galantspeedz]

only if is their in-house financing you have to worry. if it is from banks then should be ok.

[Accordvtec]

I know u must be a PI. But i want to help my friend who want a PI stream to ask a question.

 

He want to know how to assure the omv is near to wat is promised? Cause we read of cases where omv is a lot lower than wat he initially ask when he is booking.

 

we can always put the stated omv on the contract.

if the actual omv is lower than the stated omv,the difference will be refunded.

[Schneider79]

sad to see them fold or sad in how they do things?

 

both.

[Genghiskt]

Ok. Thanks for the clarification.

 

Maybe better for me to retract the statement as it might mislead ppl. What i know is only that they are related somewhere, be it strategic or otherwise. Also I read somewhere that Rxxxg PI cars are not allowed into Borneo main service centers to prevent conflict of interests.

 

I tot u said "SURE,VERY SURE" ????

Cheers,bro!!

[Best_ctzn]

So sorry ok? Prevously I had this idea that it was like that, but apparently I was wrong. Read too much thing also blur.

 

Lesson learnt - do not shoot too fast.

[Booboon]

frankel still around rite? Saw their ads in the classified today.

[Booboon]

Bro r u very sure Yuniku got problem also? Because I nearly bought an airwave from them but I changed my mind after doing my sum. Holding back for a few months. So what type of problem r they having bro? If not convenient to expose here maybe can PM me. Thanx.

 

Bro, hear say from SE friends from car sales industry alot of SE jump ship to other PI due to cash flow difficulty. SE has not been paid on time and also customers made to wait longer than usual (4 months at least). Few of their customer also quite fedup as delivery of the car has been delay and delay again.

 

Try to visit the sienta forum, their once active SE has also not been very active recently.

 

Disclaimer: Abv hear say only har.

[Phewit]

Ok noted and thanx.

[Nobrainer32007]

i will not buy from frankel, whatever name they call themselves now and whatever new management they have put in place now.

 

better dont play play with your hard earned money.

[Phewit]

I've been warned about Frankel long time ago.

[Jazz_samz]

 

Borneo has more relation with Rxxxxxxg then just being the appointed / outsource workshop of the latter. PLEASE don't mislead ppl. This is a fact I am absolutely sure.

 

You maybe a PI, however, I deal with Borneo and workshops to know this relationship in more detail than you.

 

Have a good weekend to all.

R***G servicing is outsource to borneo. just like some PI servicing workshop is comfortdelgro. nothing more than that.

[Sniperben]

oh really? my uncle is holding a position in borneo.

 

talk is cheap, prove it.

 

shoot you back

[Picanto]

PM the person if you buay song with him. dun turn this into a personal forum war. we want constructive discussion here.

[Sniperben]

noted. will restrain from making further comment on this thread.

[Billyyeo]

Dear all,

Yuniku had delivery my Toyota Sienta sucessfully today 31/12/07.

Very good sales service and another happy customer of Yuniku.

Saw in their show room have ex-stock, TOYOTA ZIO MARK X, very nice car,

stream, swift, axio, wish.

The active SE in sienta is also back from leave.

 

Last But not least, YUNIKU is indeed with Integrity.

[Zhizunbao]

...

Mr Timothy Reid of Ferrier Hodgson said yesterday his firm is advertising in today's Straits Times Classified section to dispose of a number of Frankel's cars, which are now in a warehouse.

 

Anyone saw the car list on Staits Times?I can't find it on ST on Dec 22's classified.

How much shall we bid for Mark X if it's available? I guess the bid is beofre ARF & COE. How much more the bidder has to pay to drive away the car?

[King]

i wonder how did thry come into this cash flow problem????

beri funny