Dealers and Consumers-The continuing SAGA Part III

[Weez911]

Are you concerned? Does it bother you? Are you those who loan 80%?

 

Everyone is doing such things, you can afford 40/50% downpayment so you dont know.

 

You think all cars no need mark up? How many can afford, use your KIDNEYS to think.

 

I'm not very interested in your father mother story. I'm just curious how your book is able to balance. If you recognise higher revenue, the other leg must be amount due from customer or cash. Since there is no cash received for the mark-up, do you provide doubtful debt then write off every year?

 

I'm honestly very surprised and concerned your auditor didn't pick this up. Don't worry I won't report you because I don't even know who you are. I'm just asking because of the technical aspects, and I cannot think well due to my kidney brain.

Edited December 20, 2015 by Weez911

[Civicfighter]

I think the conclusion at the end of the day is

 

1. No Admin Fee

2. Buy in from owner/seller must buy only at max $1000 to max $2000 diff from what Sgcarmart is posting (nevermind if its a mark up for loan price)

3. Sell to buyer must be ultra ridiculously cheap (best if dealer lose money)

4. Car must be in tip top or as new condition (leather no crack/torn also must do up a new one)

5. Guarantee/Warranty 6 months for everything in and on the car (tires as well maybe)

 

 

That way all buyers will be the happiest person on earth.

 

 

So therefore i charge to defray my taxes, i am still paying tax for the mark up and then what? I am suppose to suffer?

Bro whatever we explain and bring up, these so call car "buyers expert" will still think we are making alot of profits. We reconditioned the cars to put on resale cost is sponsored by spray paint company, leather company, workshops and etc... The place we rent is sponsored by Ura, sla and Lta. Sph sponsored our advertisements too. Buy from AD everything also can. We used car dealers are crook. No wonder AD buildings are getting bigger and bigger. I purchase my cars from AD too, all good ones they keep, bad ones give to us. That is why we are always made the bad eggs.

[Yayapapaya]

argue until sun goes down also never ending..buyer n seller perspective will never be the same..

[JCSL]

I'm not very interested in your father mother story. I'm just curious how your book is able to balance. If you recognise higher revenue, the other leg must be amount due from customer or cash. Since there is no cash received for the mark-up, do you provide doubtful debt then write off every year?

 

I'm honestly very surprised and concerned your auditor didn't pick this up. Don't worry I won't report you because I don't even know who you are. I'm just asking because of the technical aspects, and I cannot think well due to my kidney brain.

 

I am able to balance. As long as those mark ups are considered cash collected and i declare them as "profits" and pay taxes for them, who cares? Gahmen is more than happy to pick the money off me.

 

In actual fact, we are paying taxes for something we didnt make, no fees or charges to defray costs, who answers to the payment?

 

For my example just now was 17K in diff, tax amounting to maybe $1700 before less costs? Charge 500 to defray alot meh?

 

Dont wanna pay? Can... stick to 50/60% loan.

 

"Got Some Money, Got Some Choice"

"Got Alot Money, Got Alot CHoice"

"No Money, No Choice:

 

[Civicfighter]

I'm not very interested in your father mother story. I'm just curious how your book is able to balance. If you recognise higher revenue, the other leg must be amount due from customer or cash. Since there is no cash received for the mark-up, do you provide doubtful debt then write off every year?

 

I'm honestly very surprised and concerned your auditor didn't pick this up. Don't worry I won't report you because I don't even know who you are. I'm just asking because of the technical aspects, and I cannot think well due to my kidney brain.

So you are teaching us how to escape from taxes? Not declaring or untruthfully declare to iras is a jail term sentence. Do you want to go in sit on behalf of us? The mark up difference loan comm is not even enough to cover up the taxes we are paying. So why we need to absorb? Furthermore it's using our company's name to help buyers secure the loan. Indirectly we "cheat" the bank on the valuation of the car. Do u think it's fair for us to absorb the mark up in order to secure the loan? It's the truth how many buyers can afford to downpayment 40%/50%? Those can afford already go to AD and buy then make us the bad eggs collecting additional fees for mark up. That is why I can understand you really cannot think well cos you had transferred your brain to your kidneys

[Civicfighter]

I think the keywords here are 'upfront' and 'transparency'. As @galantspeedz and a few others have pointed out, the bottomline is the amount that is to be paid for the car. The amount must not exceed what is advertised or agreed. This is only basic business ethics.

 

Authorized dealers sell at the price that they advertise, there is no separate charge for admin fee. As a dealer, I am surprise that you fail to see the difference in the example that you have brought up.

That is pretty obvious. Nobody can force another to accept it but it wastes everybody's time. Looking at it from the buyer point of view, dealers have the whole day, week, month to do the deal because it is what they do. Buyers only can afford so much time and energy to go around looking for and negotiating. As a buyer, I rather everything be upfront so that I can make a decision and move on.

 

And another peeve is the excuses that the sales people give are lame to the extent that I feel insulted to even acknowledge. It just adds more to the distrust.

How many times we sell at the price we advertised? I can say only 1% possibility. Those buy at my advertised price, I would not collect admin fees.

[Galantspeedz]

I charge because Mark Ups (inflated selling price) is TAXABLE.

 

A car I posted 40K, buyer wanna loan 32k, the allowed loan is only 24k, in order to apply for 32K loan i will need to mark up the selling price to 53K, in actual fact the difference is 13k, i will be taxed on this 13k which i never ever gotten. Buyer gonna pay for my tax?

 

Are you gonna pay?

 

 

A name for the charges is just a name, no loan for me i can say penalty fee, sounds better?

Is this considered fraud?

[JCSL]

Is this considered fraud?

 

Fraud? You make sure you stick to 60/50% loan.

 

So in other words, cannot afford? Go rent a car.

[The_Bear]

I charge because Mark Ups (inflated selling price) is TAXABLE.

 

A car I posted 40K, buyer wanna loan 32k, the allowed loan is only 24k, in order to apply for 32K loan i will need to mark up the selling price to 53K, in actual fact the difference is 13k, i will be taxed on this 13k which i never ever gotten. Buyer gonna pay for my tax?

M

Are you gonna pay?

 

 

A name for the charges is just a name, no loan for me i can say penalty fee, sounds better?

Sounds like exactly what MAS is trying to stop. When people highlight your malpractice, you should be more appreciative instead of asking them to compensate your loss if you stop your malpractice. It is like a thief telling me that if I tell him to stop stealing, will I provide for his drug habit? Of course I am not saying you are a druggie or a thief.

Is this considered fraud?

Fraud or not I am not sure but I am sure MAS might be interested in such practices.

[Acemundo]

What is the reputation for TTS Eurcars?

 

I read that there are some negative comments years ago.

 

But what about now? I would think they are good as they are the AD for fiat.

I just observed something clandestine they done few months ago. There is also another case reported in papers of them doing a middleman renting out of cars of their customers which are against lta regulations then. When interviewed by papers they push the responsibilty to a few staff who they closed by replying these staff were sacked.

[Galantspeedz]

I would also charged higher admin fees for higher loans. I would say upfront to the customer too before signing on the deal. I no need to explain why the need to collect "additional admin fees". This "additional admin fees" are not earn by us anyway. Loan rebate? U mean new cars or used cars?

Jscl make reference to AD, that's new car...

 

I think is fair if everything is make own upfront..like I mentioned.. important is total price remains as stated

[Weez911]

So you are teaching us how to escape from taxes? Not declaring or untruthfully declare to iras is a jail term sentence. Do you want to go in sit on behalf of us? The mark up difference loan comm is not even enough to cover up the taxes we are paying. So why we need to absorb? Furthermore it's using our company's name to help buyers secure the loan. Indirectly we "cheat" the bank on the valuation of the car. Do u think it's fair for us to absorb the mark up in order to secure the loan? It's the truth how many buyers can afford to downpayment 40%/50%? Those can afford already go to AD and buy then make us the bad eggs collecting additional fees for mark up. That is why I can understand you really cannot think well cos you had transferred your brain to your kidneys

Let me quote you something from the Penal Code.

 

Falsification of accounts

477A.  Whoever, being a clerk, officer or servant, or employed or acting in the capacity of a clerk, officer or servant, wilfully and with intent to defraud destroys, alters, conceals, mutilates or falsifies any book, electronic record, paper, writing, valuable security or account which belongs to or is in the possession of his employer, or has been received by him for or on behalf of his employer, or wilfully and with intent to defraud makes or abets the making of any false entry in, or omits or alters or abets the omission or alteration of any material particular from or in any such book, electronic record, paper, writing, valuable security or account, shall be punished with imprisonment for a term which may extend to 10 years, or with fine, or with both.

 

If my interpretation based on my kidney brain is right, you and your colleagues are potentially falsifying accounts. This carries a maximum imprisonment of 10 years. The usual discount for good behaviour should apply. If you turn in yourself and bao toh your colleagues, then maybe also got lighter sentence. I may be wrong, so don't worry.

 

But you may also be infringing on other laws, because you are artificially circumventing the higher deposit rule by the MAS, and potentially inflate car prices if enough dealers do that. Good luck with that. 

 

Edited December 20, 2015 by Weez911

[JCSL]

Sounds like exactly what MAS is trying to stop. When people highlight your malpractice, you should be more appreciative instead of asking them to compensate your loss if you stop your malpractice. It is like a thief telling me that if I tell him to stop stealing, will I provide for his drug habit? Of course I am not saying you are a druggie or a thief.

 

Fraud or not I am not sure but I am sure MAS might be interested in such practices.

 

Its seems like you dont understand what i mean. You are able to come up with 50% or 40% downpayment, how many are able to? Are we suppose to drop them? Are we suppose to reject the purchase?

 

Supposedly if ALL and i mean ALL customers can afford 50% or 40% down payment, it is a PERFECT WORLD! How perfect is the world are we living in. Compensate loss for my malpractise? NO NO NO! I am saying if a mark up is required (rich ppl like you dont need) because of loan issue, i collect a $500-800 to defray my cost of tax, how wrong is that?

 

Are you suggesting that if they cannot afford, just chase them away? You suggesting that? Please do not act like you were born 30mins ago that you do not know how the market works in terms of the 80% loan. Maybe you need to because you are a moderator, someone who commands respect in the cyberworld.

[Jman888]

I really doubt the real dealer will be discussing their trade practice in open forum

[Galantspeedz]

So therefore i charge to defray my taxes, i am still paying tax for the mark up and then what? I am suppose to suffer?

Won't you get higher commission?

[Imac]

All problems started because there are no REGULATIONS governing used-car trading.

 

Used-car dealers are free to conducted their business using their own "SOP'.

 

I have to confess this....

 

Everytime I drove pass Automobile Megamart at Ubi, that building look like Sim Lim Square with many many Jover Chew waiting to chop carrot.

[JCSL]

Won't you get higher commission?

 

What about the mark up difference? Its taxable mind you.

[Blueray]

wait till you go Turf City ...