Price Increase After Purchase?

[Pss2]

http://www.sgcarmart.com/used_cars/info.php?ID=456797&DL=1027

 

Was looking at this car. Price was $29,000 when status was available. After status set to pending as buyer paid a deposit, price increased to $37,000??? Is this an example of overtrade?

 

[Watwheels]

Haha....

 

No. The dealer now is open to whoever offers him a higher price even though some buyer paid a deposit for it. Highest bidder wins.

[Vhtfhwlego]

http://www.sgcarmart.com/used_cars/info.php?ID=456797&DL=1027

 

Was looking at this car. Price was $29,000 when status was available. After status set to pending as buyer paid a deposit, price increased to $37,000??? Is this an example of overtrade?

 

29k during the point of purchase = 14.5k require for down payment (50% loan)

37k after sale = 18.5k require for down payment.

 

So if owner take 14.5k loan over the "purchased amount" of 37k = 40% loan on the purchased amount.

So the bank look at it in another way, lesser risk to lent.

[L23]

http://www.sgcarmart.com/used_cars/info.php?ID=456797&DL=1027

 

Was looking at this car. Price was $29,000 when status was available. After status set to pending as buyer paid a deposit, price increased to $37,000??? Is this an example of overtrade?

 

 

 

Just to tell you that the buyer have no money for the required DP la...

The dealer is using this way to work around the DP ruling..

Stupid policy with lots of loop hole..

[Vhtfhwlego]

 

 

Just to tell you that the buyer have no money for the required DP la...

The dealer is using this way to work around the DP ruling..

Stupid policy with lots of loop hole..

Wouldn't say stupid.

A mark up of 8k on sale price = 4k less for downpayment.

 

DP ruling wee out 10 years loan buyer + 0% dp buyers.

Many will scrap their cars between 2016 & 2017.

 

For BB cars owners, during the point of purchase 8/9 years ago, they will have parf of $7k in 2016/2017.

7K D/P will limit their next car purchase which inturn caused a demand for in the 2007/2008 reg cars which these cars will increase in value causing them to be out of their budget.