Care to Share The Operation of PI?

[Nethdale]

Hi,

 

Out of curiosity, can anyone share with me the operation of PI especially from the buyer's perspective? I have minimal knowledge how AD operates but none on PI. Generally, after a customer signed the contract and assuming it is 3 guaranteed COE bids, which translates to 1 & 1/2 wait for the new car. Next, they will send in the loan application(if applicable) and the results will be known within 3 days. I know they neither bid for the 1st nor 2nd round and will only act in the last bidding unless they already have Open Cat COE. Any particular reason? Do they need to send every JDM models to LTA for testing/inspection? I thought only those cars hovering 97kw need "dynamometer test"? Pls enlighten me?

 

Pls share with me more details so that I can learn more. Thank you very much.

[evidence]

Internal secret...how to share?

 

Mkt getting smaller...how to tell....

[The_Bear]

Hi,

 

Out of curiosity, can anyone share with me the operation of PI especially from the buyer's perspective? I have minimal knowledge how AD operates but none on PI. Generally, after a customer signed the contract and assuming it is 3 guaranteed COE bids, which translates to 1 & 1/2 wait for the new car. Next, they will send in the loan application(if applicable) and the results will be known within 3 days. I know they neither bid for the 1st nor 2nd round and will only act in the last bidding unless they already have Open Cat COE. Any particular reason? Do they need to send every JDM models to LTA for testing/inspection? I thought only those cars hovering 97kw need "dynamometer test"? Pls enlighten me?

 

Pls share with me more details so that I can learn more. Thank you very much.

[Watwheels]

I think it's about managing your expectations.

 

Whether it's PI or AD it's about $$ and how much compromise they are willing to make given the limited quota.

 

When it comes to any form of bidding you got to set a budget...for Cat A,B & E. So if the AD or PI see that during the COE bidding the price exceeded their budget what for they go in and bid? Eg. let's say their budget is 60K and the during the bidding process it's already 65K and going up. What's the point? It's not that they do not want to bid like most ppl claim.

They got to set a budget in order to set the car's price. End of the day it's a business and not a charity.

 

Just like any auction ppl try to out bid each other to get what they want. But I would guess the dealers would hold back and not raise the coe price too much and affect their profit margin.business.

 

So at the 3rd bid or 6 bid the dealer will look for their sources who have open cat to seal the deal (they still need to eat you know or at least meet quota for the ADs)....if the amount eat into thier profit they will ask customers to top up lor.

 

Try not to get a car that has power near to 97kW. Anyway dealers will avoid bring it in. The coe is unpredictably high and high in demand and the dyno testing may take ages. COE must be registered to a car with in 3 months. So if the testing takes more dan that you will be screwed.

 

Dealers won't tell you much about their budget. And also you got to see what or who you are dealing with, small fish or big fish. If the dealers are desperate enough they will seal the deal for you. But the thing is securing a coe now isn't easy.

Edited September 5, 2014 by Watwheels

[Adrianli]

Bought a PI car before, the PI's process :

 

- Sign contract (Just before Deepavali, Nov)

- Put deposit for car

- PI applied loan n insurance

- Got COE (Dec)

- Wait for car(here kena cheated by PI, he say got ready stock b4 I sign. But that was not the case. Had to wait two months for shipping)

- Car arrive SG

- Go for LTA homogenisation

- Go for local fittings (tinting, upgrade rims, leather seat and polishing + touch up of car exterior)

- Receive Car, PI throw in CNY hamper n apologise for delay. (1 week before CNY, Feb)

 

 

 

 

 

[Nethdale]

Bought a PI car before, the PI's process :

 

- Sign contract (Just before Deepavali, Nov)

- Put deposit for car

- PI applied loan n insurance

- Got COE (Dec)

- Wait for car(here kena cheated by PI, he say got ready stock b4 I sign. But that was not the case. Had to wait two months for shipping)

- Car arrive SG

- Go for LTA homogenisation

- Go for local fittings (tinting, upgrade rims, leather seat and polishing + touch up of car exterior)

- Receive Car, PI throw in CNY hamper n apologise for delay. (1 week before CNY, Feb)

 

 

 

 

 

Hi,

 

What is "LTA Homogenisation"? By the way, thanks for your input.

 

And to those who had contributed, apologies if I had over-stepped the mark.

[Adrianli]

Hi,

 

What is "LTA Homogenisation"? By the way, thanks for your input.

 

And to those who had contributed, apologies if I had over-stepped the mark.

 

They bring in one car, let lta inspect and set as the standard for that car model. The rest of the cars brought in will have to meet the same standard as that car.

 

This is what the PI told me.

Edited September 5, 2014 by Adrianli

[Canisminor]

the correct term is "homologation".

 

Think "homogenisation" is a term used in chemistry.

[Adrianli]

the correct term is "homologation".

 

Think "homogenisation" is a term used in chemistry.

 

Thks. I anyhow hatum the word.

[Soya]

Ahemmmmm......thot the PI buying process beri simple one?

 

Step 1:

Advertise low price

 

Step 2:

Tell buyer price dun incl dis and dat and actual price higher

 

Step 3

If buyer still dun mind chop carrot, take deposit and then everyday pray COE will drop

 

Step 4:

If COE up, ask for top up. If COE drop, no rebate

 

Step 5:

Deliver car (after much delay n kpkb from buyer)

 

Step 6:

Siammmmmm ah! (simi warranty?)

 

Step 7:

If kena investigated, close shop and set up new one next day.

 

Step 8:

Refer to Step 1

 

[Nethdale]

 

They bring in one car, let lta inspect and set as the standard for that car model. The rest of the cars brought in will have to meet the same standard as that car.

 

This is what the PI told me.

Hi,

 

OIC. Thank you very much. That's "wasting time"?

Ahemmmmm......thot the PI buying process beri simple one?

 

Step 1:

Advertise low price

 

Step 2:

Tell buyer price dun incl dis and dat and actual price higher

 

Step 3

If buyer still dun mind chop carrot, take deposit and then everyday pray COE will drop

 

Step 4:

If COE up, ask for top up. If COE drop, no rebate

 

Step 5:

Deliver car (after much delay n kpkb from buyer)

 

Step 6:

Siammmmmm ah! (simi warranty?)

 

Step 7:

If kena investigated, close shop and set up new one next day.

 

Step 8:

Refer to Step 1

 

Hi,

 

LOL. The process you described seems "out-dated" ( no offence). Anyway, thank you.

[inlinesix]

Better don't buy since it is so complicated. Have to ask process somemore.

 

My best car buying experience to date is bought a 6 mth old demo car from AD. Sign contract on Saturday. Loan approved on Sunday. Pick up the car on Wednesday.

[Soya]

Better don't buy since it is so complicated. Have to ask process somemore.

 

My best car buying experience to date is bought a 6 mth old demo car from AD. Sign contract on Saturday. Loan approved on Sunday. Pick up the car on Wednesday.

 

yalor. buy until so for wat?

[Watwheels]

Must be dealer cannot seems to deliver the car lor. Think dealer chut pattern. My "friend" 1st bid can get coe liao blah blah blah. Listen totoo much of what other ppl say until .

 

It's understandable. LoL...

 

The anxiety must be driving ppl nuts when buying a car.

[Hamburger]

Am I the only one who thinks is about Private Investigator thread.....huh

[Pocus]

Am I the only one who thinks is about Private Investigator thread.....huh

Me too but suddenly remember this is MCF. Lol

[Zenithpool]

Just saw this on Stomp

http://singaporeseen.stomp.com.sg/singaporeseen/what-bugs-me/i-still-owe-bank-65000-after-selling-car-to-dealer

 

After selling a car to a dealer, STOMPer Fok Kah Hon faces an outstanding bank loan of $65,000 and heavy traffic fines. He is at a loss as to what he should do now.The STOMPer told us in an email today (Feb 25):"I had a car sold to a dealer two months back; The car dealer took the settlement money and the car from me, but did not settle the outstanding bank loan of more than $65,000 and did not initiate the transfer of ownership to the company. "Now the car is no longer insured. Parking summons from HDB and traffic fines from Traffic Police are directed to me, even though I am no longer driving the car."I told the car dealer numerous times but they kept making empty promises. "I reported the case to the police, but they said there was nothing they could do except to "wait". "LTA says they are unable to do anything as well because they are unable to force the car dealer to pay the bank loan. "I am at a loss as to what to do now because the bank has threatened to sue me and my credit ratings would be adversely affected. "What can I do?"