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“Overtrade”

Wenlinz

By Wenlinz,
in General Car Discussion

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Ct3833

Ct3833

Supersonic
  On 3/5/2021 at 1:33 AM, Sunset73 said:

Your understanding wrong leh. It's basically explaining with overtrade, the discount comes from the amount of dp to be coughed out, as compared to a direct discount from car price. I thought overtrade usually comes with a higher loan interest? In this illustration used, both were assumed to be the same at 2.5%? In the case of overtrade, it is assumed that the dp is still 80k, just that 30k "covered" by your trade in car. The loan amount is still 120k, albeit higher interest rate. 

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Overtrade amount is used to offset from the upfront payment, thereby allowing one to take a higher loan, the interest in% reamins no change regardless of overtrade or without overtrade, of course the net interest in $ payable is higher because of a higher loan amount.

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Sunset73

Sunset73

5th Gear
(edited)

Take a higher loan means on paper still states you

  On 3/5/2021 at 1:41 AM, Ct3833 said:

Overtrade amount is used to offset from the upfront payment, thereby allowing one to take a higher loan, the interest in% reamins no change regardless of overtrade or without overtrade, of course the net interest in $ payable is higher because of a higher loan amount.

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Take a higher loan means on paper written as 80k dp, but actual only 50k dp? But the loan amount is as per the 40% dp right? If so, means it's way better than taking "high loan" or inflating car prices to make up for the shortfall of dp.

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Patwong

Patwong

3rd Gear

My understanding , example car selling price $100K.

Existing car trade-in value $40K (paper plus body) 

Dealer offered overtrade $5K .

Therefore total trade-in $45K.

If loan required to buy car = $55K.  Correct? 

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jxision

jxision

1st Gear

Hi sorry to hijack this thread as I can't start a new one! wanna ask which is the best option to sell a pre-owned car which is only about 4 to 6 months old? consignment or like sell directly? Any dealer to recommend?

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Sunset73

Sunset73

5th Gear
  On 3/5/2021 at 5:49 AM, jxision said:

Hi sorry to hijack this thread as I can't start a new one! wanna ask which is the best option to sell a pre-owned car which is only about 4 to 6 months old? consignment or like sell directly? Any dealer to recommend?

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You can ask your friendly neighbourhood dealer @Jamesc

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Ct3833

Ct3833

Supersonic
  On 3/5/2021 at 5:49 AM, jxision said:

Hi sorry to hijack this thread as I can't start a new one! wanna ask which is the best option to sell a pre-owned car which is only about 4 to 6 months old? consignment or like sell directly? Any dealer to recommend?

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What car is that ? 

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Soya

Soya

Supersonic
  On 3/4/2021 at 9:20 AM, RadX said:

i have one principle

 

If you have to think so much, come here seek opinions, buy-in, gain the mass to like your idea, means

 

you CANNOT afford it!

 

PEriod!

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Wah sei.....hard truths 

 

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Soya

Soya

Supersonic
  On 3/5/2021 at 5:49 AM, jxision said:

Hi sorry to hijack this thread as I can't start a new one! wanna ask which is the best option to sell a pre-owned car which is only about 4 to 6 months old? consignment or like sell directly? Any dealer to recommend?

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Forget consignment, waste time. Your car maybe oso used as bait to lure buyers in but they land up selling their own more profitable stock instead.

Sell direct or via quote

 

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jxision

jxision

1st Gear
  On 3/5/2021 at 6:11 AM, Soya said:

Forget consignment, waste time. Your car maybe oso used as bait to lure buyers in but they land up selling their own more profitable stock instead.

Sell direct or via quote

 

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Quote as in sgcarmart's Quotz? 

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jxision

jxision

1st Gear
  On 3/5/2021 at 6:16 AM, Ct3833 said:

ask https://www.quotz.com.sg/

and ask a few more quotes from dealers  to get the best deal out of it. 

Will send you a PM as well but that is for reference only. 

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okay thank you. I tried asking quotz few days back but they say there's no reference in the market for them to provide a valuation for this vehicle as the vehicle is still too new lol

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Ct3833

Ct3833

Supersonic
  On 3/5/2021 at 6:35 AM, jxision said:

okay thank you. I tried asking quotz few days back but they say there's no reference in the market for them to provide a valuation for this vehicle as the vehicle is still too new lol

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Hi, my sincere apologies!! MX5 RF is very new, I saw it wrongly thought 4-6months left. What a  blunder I have made! please ignore my message. 

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Ct3833

Ct3833

Supersonic

Wondering why TS wants  to sell it so soon. I cannot afford though, just keh po. 

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