Transactional services for direct buyer & seller deals

[Connect]

OOHHH Thanks. Which means if i go thru SGcarmart, the amt payable is 300?

 

Hi, if you are going through sgCarMart Connect to help you with your transaction, and you're not taking loan, there will be a $300 admin fee payable to sgCarMart Connect.

Should you consider to take up a loan from us, there will be no admin charges.

 

Feel free to contact us at 67443540 if you have any further enquiries.

[Sean73]

i'm sorry that i posted here, i can't seem to post up a new topic, i'm a newly registered member. Pardon me.

 

I'm considering what kind of car shall i get if i were to drive long distance occasionally.

I have been recommended Honda cars as their engines have been known to be very strong.

Some have told me not to take a Hyundai car as their engines are not known to sustain long distance driving, their cars are better known for their interior comfort.

 

If that's the case, no taxi companies would use Hyundai.

 

But personally i'm thinking about luxury driving. Cars like Audi A5 Sportback, Audi TT coupe.

Are the cars i have in mind able to sustain the long distance driving?

 

 

I have other cars in mind, cars like Proton Inspira. Looks big, spacious, comfy and most importantly, it looks like it can really go a long way.

 

Wow, dun compare between apple and orange. Luxury cars like audi and Proton. so different category.

 

 

Any suggestions? I'd be glad to learn more.

Edited June 5, 2012 by Sean73

[Maomaoma]

HELP NEEDED! >>> When I sell my car to direct buyer, what's the thing that I need to take note. It is definitely based on mutual trust to handover the vehicle earlier before the transfer can be done right? When I settle everything, how do I go about the insurance refund, road tax [need to refund?] and HDB carpark refund? How about the loan? I still have an outstanding loan wit POSB. How do I settle it? For example, if the loan outstanding at at $26k and I sold the vehicle at $28k... ANYONE TO HELP!? How do I go about the LTA transfer?

[Connect]

HELP NEEDED! >>> When I sell my car to direct buyer, what's the thing that I need to take note. It is definitely based on mutual trust to handover the vehicle earlier before the transfer can be done right? When I settle everything, how do I go about the insurance refund, road tax [need to refund?] and HDB carpark refund? How about the loan? I still have an outstanding loan wit POSB. How do I settle it? For example, if the loan outstanding at at $26k and I sold the vehicle at $28k... ANYONE TO HELP!? How do I go about the LTA transfer?

 

Hi, please connect sgCarMart Connect at 6744 3540. We will be able to answer all your enquiries. Thank you!

[Stanley79]

HELP NEEDED! >>> When I sell my car to direct buyer, what's the thing that I need to take note. It is definitely based on mutual trust to handover the vehicle earlier before the transfer can be done right? When I settle everything, how do I go about the insurance refund, road tax [need to refund?] and HDB carpark refund? How about the loan? I still have an outstanding loan wit POSB. How do I settle it? For example, if the loan outstanding at at $26k and I sold the vehicle at $28k... ANYONE TO HELP!? How do I go about the LTA transfer?

If u have direct buyer for ur car, u can arrange the transaction to be done by a credit agent. They will help u settle ur existing car loan and loan application for ur buyer. As for insurance... While Direct Asia & Aviva is jus a click away...easily can be done by the buyer...

 

Most importanly, u will not be charge for $30k and below loan....

 

The choice is yours...

 

Anyway, it's just a one off dealing... All u want is someone working along side with bank...

 

You can have the choice to call ur existing bank, ask them for their reliable credit agent. Like that, u can have peace of mind giving them handle ur selling and loan of buyer.

Edited June 13, 2012 by Stanley79

[Gary469]

The other agents also charge admin fees based on your loan amounts.

I think this is quite realistic, it's no open secret they earn by the bank's commission.

So if the loan amount or tenure is low, they will have to charge an admin fee if not how to survive?

 

End of the day, I don't mind letting them earn something if everything was done smoothly and I enjoy the convenience/piece of mind.

[Myforum]

I agree the dealers can have their commission provided they extend you reasonable service. Over and above, they are now used to earn commissions from Bank loans and Insurer. And not just this, they have all the 'tricks' to earn maximum $$$$ from the used cars; buying at cheaper rates - do some make up of the car - and sell at very high price.

The deal should be a WIN-WIN and not just the WIN for the dealers.

So, be careful while dealing with 'Benefit Autos' in Ubi; my experience was not worth giving them any commission - yet they charged me $800 as Admin Fee for a used car.

[Stanley79]

The other agents also charge admin fees based on your loan amounts.

I think this is quite realistic, it's no open secret they earn by the bank's commission.

So if the loan amount or tenure is low, they will have to charge an admin fee if not how to survive?

 

End of the day, I don't mind letting them earn something if everything was done smoothly and I enjoy the convenience/piece of mind.

Gary469... Agreeable if the person that do ur loan runs for you. That u pay a bit of admin fee is fine. But if u and the seller have to do the running... You still fine with the admin fee?

 

And my point is, a reliable agent recommended by the bank... Would be more suitable to do the job...

[Connect]

sgCarMart Connect provides a 1-stop solution service for direct buyers and sellers. This includes:

 

FREE Sourcing for the best insurance & loan quotes

FREE iPhone if you find a lower loan quote from the same provider within 7 day

FREE Full settlement for Seller & LTA ownership Transfer

 

Visit connect.sgcarmart.com or call us 6744 3540 today!

 

 

http://connect.sgcarmart.com/

 

Both buyer and seller will also be able to receive up to 2% rebate of the buyer's loan amount!

[Happygal]

Hi bros,

 

Need your advice!!

I am selling my car to a private buyer who is getting a loan from bank.

The buyer got a dealer friend to help do the transfer.

The dealer claims that he could only pass me the cheque within 2 days after I transfer the car to the buyer at LTA.

Is this safe?? A norm??

 

Thanks a lot for any advice!!

 

[Mickkiee]

it'll be very usefull for the car owners and their families. thanks for sharing

[Stanley79]

Hi bros,

 

Need your advice!!

I am selling my car to a private buyer who is getting a loan from bank.

The buyer got a dealer friend to help do the transfer.

The dealer claims that he could only pass me the cheque within 2 days after I transfer the car to the buyer at LTA.

Is this safe?? A norm??

 

Thanks a lot for any advice!!

My advice to u, collect cheque on the day of transfer. why is there a need to wait 2 days? Being co-operative, u could pass him all the doument that is needed for transfer of ownership. But when i come to payment. Request for a cheque on the day of transfer. Don't wait 2 days. Not even wait 1 day.

[Gary469]

sorry bro, super late reply.

 

hmmm correct if i have to do the running, then no, i won't pay admin fees.

 

 

[Connect]

Hi bros,

 

Need your advice!!

I am selling my car to a private buyer who is getting a loan from bank.

The buyer got a dealer friend to help do the transfer.

The dealer claims that he could only pass me the cheque within 2 days after I transfer the car to the buyer at LTA.

Is this safe?? A norm??

 

Thanks a lot for any advice!!

 

Hi Happygal, this is general practice for all banks to disburse the buyer's loan amount after the ownership have transferred. The bank must make sure that the buyer have the asset of the vehicle before releasing the payment out.

Edited July 31, 2012 by Connect

[Connect]

Hi everyone!

 

Simply get your buyer to engage sgCarMart Connect for a FREE services with only a minimum loan of $20000 over 2 years!!

 

Plus, cash REBATE up to $4500!!!

 

 

 

Fill up this form today!!

Edited July 31, 2012 by Connect

[Stanley79]

Hi Happygal, this is general practice for all banks to disburse the buyer's loan amount after the ownership have transferred. The bank must make sure that the buyer have the asset of the vehicle before releasing the payment out.

Sorry, but i find ur explaination to seller is a bit misleaading. Will u sell ur car and let someone transfer it to the buyer name, without getting the payment? If the dealer were to handle the loan. They should ensure that the seller get whatever balance they should get upon transaction complete. If the seller need to wait for the bank to release payment to the dealer, then the dealer will pay them. They might as well simply deal direct with the bank which make it ound safer? If the dealer deal the loan for the seller and buyer, I don't see why they need to wait for the bank to disburse payment to them then they release it to the seller. What if the company upon receive the bank payment go burst or disappear after that?

 

Are you from Sg Car Connect? Please don't tell me this is the way Sg car connect is doing. If that's the case, I rather deal with bank appointed credit agent who will pay direct to seller immediately upon transfer. Seller can have the choice of either request for Cashier Order, Cheque or Cheque without cross but with cross bearer. There are some Credit Agent in the trade that i know of dealing with such transaction, like Skyway Credit, Sin Thai Hin, SL Credit, Cash & Credit and etc... seller or buyer may do a check with their respective bank.

 

And my advice, a proper car dealer or credit agent will not let seller wait 2 days to get their payment after their vehicle is transfered. Be extra careful of sweet talk and cool benefit. If the dealer or credit agent tells u that, think twice. One reason is because they are empty shell company. One wrong move, it's goodbye. So end of the day, is it benefit with risk taking or safe and sound transaction u prefer?

 

Last but not last, CONNECT....please identify yourself. If u are representing Sgcar Connect or some kind of fake person hiding behind fake id. Trying to misleading people.

 

Sorry if i have offend anyone that is in this trade. But i have to point out the proper way of handling with my experience.

[Tainey]

Hi everyone!

 

Simply get your buyer to engage sgCarMart Connect for a FREE services with only a minimum loan of $20000 over 2 years!!

 

Plus, cash REBATE up to $4500!!!

 

 

 

 

 

 

 

Fill up this form today!!

Nice I'll try.

[Redlightstopper]

Without siding any parties, I will like to point out some pointers based on my own experience.

I have used both a credit company as well as sgcarmart connect, and am satisfied with BOTH services.

However, their methods are different.

 

For credit companies - you either settle your outstanding loan on your own, or they can lend the money to you at a fee.

sgcarmart - they will settle the outstanding loan for you. for my case, sgcarmart gave me a black and white letter clearing stating the amount which they "owe" to me. to me it's a company which i can trust, compared to some other car dealers.

 

In general, seller will receive the bank loan amount upon ownership transfer.

The theory being that the owner can simply cancel ownership transfer. If he receives the amoutnt immediately, he will have both money and car in his name, and it becomes a big issue (no doubt criminal issues too).

 

These cases are few, but has happened in singapore in the past.

 

End of the day, use the services of the company you trust. if you don't trust the company, don't use their services - simple as that!

 

To stanley79: you brought up some good points, great sharing. i hope my 2 cents worth can compliment your opinions

 

To happygal: I believe that is common practice, but you need to check how reliable this dealer is.

 

cheers!