Darryn Turbocharged February 28, 2013 Share February 28, 2013 The car trader spokesman always tell people if they don't buy nw, COE will hit 70k, 80k, 90k etc with very confident look. Last night, I saw his face black like charcoal saying that the new rule should apply to new cars and not old cars. But if apply only on new cars, old cars price will shoot up! yeah lor... If don't apply to old cars as well, you know what will happen? Cash rich, buy car - drive one month, mark up by $5k, and then sell as used car with full loan. They think govt stewpit one? ↡ Advertisement Link to post Share on other sites More sharing options...
Andik Neutral Newbie February 28, 2013 Share February 28, 2013 hahaha...agreed... Link to post Share on other sites More sharing options...
Xers007 Supercharged February 28, 2013 Share February 28, 2013 They are really screwed by the govt lol.... COE shot up for a short period so for their sales and now everything going to take a plunge... Imagine how many "expensive" cars gonna get stuck in their showroom waiting to rot... Link to post Share on other sites More sharing options...
Deckbuild 6th Gear February 28, 2013 Share February 28, 2013 The car trader spokesman always tell people if they don't buy nw, COE will hit 70k, 80k, 90k etc with very confident look. Last night, I saw his face black like charcoal saying that the new rule should apply to new cars and not old cars. But if apply only on new cars, old cars price will shoot up! Thats what I think so too when I watch the news last night. Link to post Share on other sites More sharing options...
Deckbuild 6th Gear February 28, 2013 Share February 28, 2013 yeah lor... If don't apply to old cars as well, you know what will happen? Cash rich, buy car - drive one month, mark up by $5k, and then sell as used car with full loan. They think govt stewpit one? Must drive at least 6 mths, but still good enough for a 1/2 year old car with full loan... Link to post Share on other sites More sharing options...
Deckbuild 6th Gear February 28, 2013 Share February 28, 2013 Actually alot of rich and those that can pay full cash always change cars frequently, with the new rules, most dealers will not buy in cars at high price, which means the rich won't really wanna change car as well which make me believe COE gonna drop low this time round.... Link to post Share on other sites More sharing options...
Xers007 Supercharged February 28, 2013 Share February 28, 2013 Actually alot of rich and those that can pay full cash always change cars frequently, with the new rules, most dealers will not buy in cars at high price, which means the rich won't really wanna change car as well which make me believe COE gonna drop low this time round.... Most dealer will not buy in cars for now until everything stabilize unless the seller sell it at super low price lah... so its only during this turmoil period... Link to post Share on other sites More sharing options...
Dfx16 6th Gear February 28, 2013 Share February 28, 2013 (edited) They are really screwed by the govt lol.... COE shot up for a short period so for their sales and now everything going to take a plunge... Imagine how many "expensive" cars gonna get stuck in their showroom waiting to rot... True, within a span of 12 mtns? I saw many started 2nd hand car new business in some unusual location as well for eg. jalan kayu, amk industry pk etc Guess they will be gone soon Edited February 28, 2013 by Dfx16 Link to post Share on other sites More sharing options...
Xers007 Supercharged February 28, 2013 Share February 28, 2013 True, within a span of 12 mtns? I saw many started 2nd hand car new business in some unusual location as well for eg. jalan kayu, amk industry pk etc Guess they will be gone soon but they can always start car leasing biz to recover some losses.... Link to post Share on other sites More sharing options...
Mllcg 3rd Gear February 28, 2013 Share February 28, 2013 but they can always start car leasing biz to recover some losses.... even harder for them also. they rent out car 1 week at most 700 bucks (take an altis for example) they bought in for 40k+. u think by the time scrap can even break even? Link to post Share on other sites More sharing options...
Jano Clutched February 28, 2013 Share February 28, 2013 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. ya but how high did they actually buy from them? some cars left 1-2 yrs they just take back at paper value or something. they already 'earn' already because its like 0 cost to them. they scrap also get back the same amt of $ anyway those low COE cars in 09 selling that high at 70-80k ...... interested to know what will they become Link to post Share on other sites More sharing options...
Xers007 Supercharged February 28, 2013 Share February 28, 2013 even harder for them also. they rent out car 1 week at most 700 bucks (take an altis for example) they bought in for 40k+. u think by the time scrap can even break even? 700 a week for an altis?!?!?!?!? and no one says break even.... i say recover some losses.... better than let it rot right... Link to post Share on other sites More sharing options...
Mllcg 3rd Gear February 28, 2013 Share February 28, 2013 700 a week for an altis?!?!?!?!? and no one says break even.... i say recover some losses.... better than let it rot right... thats the market rate Link to post Share on other sites More sharing options...
Voodooman Supersonic February 28, 2013 Share February 28, 2013 (edited) Those shopping for a used car can wait awhile. Prices gonna come down soon. Asking prices for pre-owned in the 150k range are already down, the more expensive, the higher the drop. Edited February 28, 2013 by Voodooman Link to post Share on other sites More sharing options...
Xers007 Supercharged February 28, 2013 Share February 28, 2013 ya but how high did they actually buy from them? some cars left 1-2 yrs they just take back at paper value or something. they already 'earn' already because its like 0 cost to them. they scrap also get back the same amt of $ anyway those low COE cars in 09 selling that high at 70-80k ...... interested to know what will they become likely will still lose money on most cars.... they probably earn 3k to 4k per B&B cars not referring to those soon COE cars... but i think the COE drop will be more than that... some more prior to this they take in many 1 to 2 yr old cars during the COE hike... Link to post Share on other sites More sharing options...
Xers007 Supercharged February 28, 2013 Share February 28, 2013 thats the market rate 700 a week or a month lol... Link to post Share on other sites More sharing options...
Mllcg 3rd Gear February 28, 2013 Share February 28, 2013 700 a week or a month lol... eh. ps. fri-sun=250 mon-fri-250 Link to post Share on other sites More sharing options...
Pss2 2nd Gear February 28, 2013 Share February 28, 2013 700 a week or a month lol... A week. A month is $1400.00 based on long term. ↡ Advertisement Link to post Share on other sites More sharing options...
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