All these greedy 2nd hand car dealers still dont lower price

[Rayoflight]

Good luck to them on holding expensive goods!

 

will there be fire-sale coming soon?

 

they mark up 20-30k for 2nd hand cars above parf+body...time for them to jialat jialat

[Jimmylim]

willing buyers a lot... no one open biz to lose money, or rather which biz dun try to maximize their profit? so you cant said they are greedy if there are still buyers at such pricing.

[Watwheels]

There's always a way lah. LOL...

 

Now they are waiting to see what the coming COE will be like. Worst come to worst they could still do is export the used cars or rent them out.

 

Why should they lower the selling price when COE quota still so low?

 

Wait long long lah.

[Alpha78]

If they export their inventory, they will still lose money. Because of the high COE, they have actually paid more for the cars. If COE crashes in the next 2 biddings, good luck to these used car dealers.

[Leepee]

Why would you expect the second hand car dealers lower their car prices?

Remember that these dealers bought the old cars at the current high COE valuation/depreciation.

Lowering the prices would means a sign that COE is expected to drop. (That's your assumption)

However the COE price hase not drop yet, since the COE bidding is on 13march. Only by then will they likely to adjust the prices to suit the COE prices increase or decrease.

 

[Felipe]

i was looking at old cars recently. noticed some dealers actually increase price for old cars. maybe they expect demand to shoot up?

[Mcfguy]

Why would you expect the second hand car dealers lower their car prices?

Remember that these dealers bought the old cars at the current high COE valuation/depreciation.

Lowering the prices would means a sign that COE is expected to drop. (That's your assumption)

However the COE price hase not drop yet, since the COE bidding is on 13march. Only by then will they likely to adjust the prices to suit the COE prices increase or decrease.

 

 

Those guilty of greed are those who has low COE price cars like in year 2009 - 2010 period but still sell them quite high as there are still demands. I recently saw one which increased it's price by $7000 plus after the new measures....wierd

[Elmo]

Those guilty of greed are those who has low COE price cars like in year 2009 - 2010 period but still sell them quite high as there are still demands. I recently saw one which increased it's price by $7000 plus after the new measures....wierd

 

The dealers are expecting these cars to be in demand because they are relatively new at less than 4 yrs old so can go for max 5 yr loan tenure. And with their low paper value they would have probably got them cheap from the sellers so able to hold on to them longer.

Increasing the prices of these is to cover those 2011 to current high COE cars that they are holding, if any.

[Sgyp]

Those guilty of greed are those who has low COE price cars like in year 2009 - 2010 period but still sell them quite high as there are still demands. I recently saw one which increased it's price by $7000 plus after the new measures....wierd

 

I got this analysis from FB.

 

Prediction prices of COE will drop but the drop will not be significant mainly because COE growth rate is currently reduced to 0.5% from February 2013 onwards and on top of that LTA has also reduced the amount of COE allocated from the total pool for CAT E: Open Category for which is usually used for Luxury Car further from 20% to 15%. With lesser supply, and steady demand. It is very unlikely prices will flucutuate wildy.

[Leepee]

This could be strategy to alleviate the 50% rule somewhat for car buyers with low cash.

So that can legally declare to bank with a higher selling price, so that the car buyer can get a higher loan valuation.

 

 

i was looking at old cars recently. noticed some dealers actually increase price for old cars. maybe they expect demand to shoot up?

 

[Mcfguy]

The dealers are expecting these cars to be in demand because they are relatively new at less than 4 yrs old so can go for max 5 yr loan tenure. And with their low paper value they would have probably got them cheap from the sellers so able to hold on to them longer.

Increasing the prices of these is to cover those 2011 to current high COE cars that they are holding, if any.

 

yes, make sense now.

[Branteo]

i was looking at old cars recently. noticed some dealers actually increase price for old cars. maybe they expect demand to shoot up?

 

With the new measures, .. esp. the 50/60% maximum loan, ... I feel that the middle (sandwiched) class folks can probably forget about buying a new car, .. and turn to used cars instead (allow the earlier owners to suffer the bulk of depreciation).

 

 

[Bighero]

With the new measures, .. esp. the 50/60% maximum loan, ... I feel that the middle (sandwiched) class folks can probably forget about buying a new car, .. and turn to used cars instead (allow the earlier owners to suffer the bulk of depreciation).

 

why only middle class?

 

if middle class can forget about buying a new car, dont tell me low income group can buy?????

[Nonewposts]

how come some car dealer predict that the 2nd hand car sales will be badly affected? the quantum for used car is so much lower than new car

[Watwheels]

It's not about what class lah. It's about who's living on credit and who has been saving money all this while lah.

[Roh96]

Good luck to them on holding expensive goods!

 

will there be fire-sale coming soon?

 

they mark up 20-30k for 2nd hand cars above parf+body...time for them to jialat jialat

 

Sometimes we got to think from their perspective. They mark up high bcos they also buy in high from previous owners. They are not buying in used car at parf+body, so u can't expect them to sell based on parf+body. Tio bo? Basically a margin of 8-10K thereabout for B & B cars is quite common.

[Fastfive1]

Well my guess is that people are expecting prices to fall and that's why lots of new listings of used cars have turned up on sgcarmart recently. Point is to sell when they can get a higher price. Oh well it's merely a matter of who can afford to wait and who desperately needs a car.

[Felipe]

With the new measures, .. esp. the 50/60% maximum loan, ... I feel that the middle (sandwiched) class folks can probably forget about buying a new car, .. and turn to used cars instead (allow the earlier owners to suffer the bulk of depreciation).

 

so wouldn't used cars, esp those 5 years and older see a surge in sales? We might see supply not meeting demand, hence jacking up the price