Car 01 (May 08 - Dec 12)

Re: Car 01 (May 08 - Oct 11)

Postby winston » Sat Oct 15, 2011 7:18 am

When is it Not Worth Fixing?

One very good rule of thumb is what you might call the Equity Rule.

You have “x” dollars of value in the car (as measured by current used car value guides). You should always know – approximately – the current fair market value of your vehicle. This is the first number of the equation. Jot it down on a piece of paper (or whatever) and update it once year.

Because without that number, it is impossible to intelligently answer the Big Question: Is it worth fixing?

The next number(s) you’ll want to have on hand (or in your head) is the approximate cost of major repairs to that vehicle.

For example, if the transmission fails, or the AC stops working, how much will it cost to rebuild/replace/repair that component/system for your particular make/model vehicle?

http://epautos.com/2011/10/10/when-is-i ... th-fixing/
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Re: Car 01 (May 08 - Dec 11)

Postby Musicwhiz » Thu Oct 27, 2011 6:01 pm

Motorists take bigger loans as COE prices surge
Elena Torrijos, On Thursday 27 October 2011, 11:39 SGT

As car prices head upwards, motorists in Singapore are chalking up bigger debt on their motor vehicle financing.

Figures on motor vehicle loans released on Thursday by Credit Bureau Singapore (CBS) show that the average loan amount in July 2011 shot up by 38% compared to the level in the same period the year before.

As interest rates in Singapore hover at their lowest levels in many years, CBS said that motorists now take loans with an average principal amount of $85,105, compared to $61,511 two years ago, and $74,399 a year ago.

"It is unsurprising that loan quantums have surged given that COEs premiums, and consequently car prices, have soared in the last two years," said William Lim, executive director of CBS.

He also pointed out that motorists are buying more expensive cars as premium cars have overtaken mass market brands in sales, and luxury and sports cars have also hit new highs.

Lui Su Kian, head of deposits and secured Lending at DBS Bank, said, "The average loan amount for car loans with DBS have increased by more than 10% year on year. However, affordability remains healthy as customers seeking maximum financing have remained stable."

He added that financing of cars priced at more than $200,000 have doubled compared to 2010 levels as more wealth is created in Asia.

Despite the heavier debt commitment, consumers appear to be managing their motor vehicle loan payments well, at least for now.

According to CBS' analyses, delinquency rates for motor vehicle loans are on the decline as 2.49% of car loan holders had an installment that was overdue by more than 30 days in July 2011, compared to 2.65% and 2.54% in July 2010 and July 2009, respectively.

CBS' data also show that as a result of high car prices, the demand for new motor vehicle loans continue to fall.

From January to July 2011, consumers took up 36,911 car loans, compared to 38,913 and 43,119 in the same period in 2010 and 2009, respectively. These include loans for new and second hand cars.

The CBS study also further revealed the effects of gender and age on motor vehicle loan trends:

• The age group of 40-44 appears to have the biggest financial might to stomach the increases in car prices, as they tended to borrow the highest loan quantum, which stood at $99,411 in July 2011. Conversely, those aged 21-29 borrowed the lowest loan quantum of $57,857.

• Senior consumers above 54 years old bore the heaviest brunt of the steep increase in loan quantums, experiencing the highest increase of 53% in their principle amounts in July 2011 compared to two years ago.

• Consumers aged 35-39 made up 19% or almost one-fifth of new car loan holders, making them the top customer segment for these loans, according to the snapshot in July 11.

• Young motorists exhibit the highest delinquency rate of 3.66%, while consumers above 54 have the lowest delinquency rate of 2.02%. This trend is consistent with other loan products.

• Male motorists tend to take bigger loans than female motorists. They also make up 75% of new loan holders, outnumbering female loan holders by 3:1.
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Re: Car 01 (May 08 - Dec 11)

Postby winston » Wed Dec 21, 2011 10:14 am

Malaysian motorists hit by repair scam

They are known as "mechanics on wheels".

But these are not the kind and helpful Samaritans you'd like to meet on the road in Malaysia.

Authorities up north have warned motorists about these so-called mechanics who prey on lone drivers, reported The Star yesterday.

What they'll do is claim that there is something wrong with your car, and offer on-the-spot repairs at exorbitant prices.

City CID chief Senior Assistant Commissioner Ku Chin Wah, in Kuala Lumpur, said: "One of their most common tactics is to throw diesel on the wheel of your car, causing it to emit smoke due to the heat and friction."

After that, they get the attention of the driver and volunteer to fix the car.

The "mechanic" leads the victim to a deserted area where he pretends to check the vehicle.

The victim is then told that his car parts have malfunctioned, added Mr Ku.

INFLATED PRICE

The so-called mechanic will then kindly offer to replace the parts for him.

The part is repainted and sold back to the unknowing victim at an inflated price.

Added Mr Ku: "They may seem like good Samaritans trying to help you, but the best thing to do is to ignore them and go to a trusted mechanic."

The police, who have received several reports about the scam, have cautioned motorists to remain in their vehicles and not to be fooled by the mechanic impersonators.

Malaysian journalist T T Kitt, 24, said that he almost fell victim to the scam while driving along the Federal Highway on Thursday.

He was alerted to smoke coming from his front tyre by a motorcyclist.

He stopped his car and the motorcyclist, who claimed to be a mechanic, said his brake pump was faulty and he could get a new part for him.

This man returned about 30 minutes later with what he claimed was a new part, installed it, and asked for RM1,800 (S$740).

Mr Kitt managed to contact the police and the man subsequently left after the journalist decided not to make a police report then.

Mr Kitt's own mechanic later confirmed that the parts installed were actually the original ones from his car, but spray-painted gold.

He said that several of his clients had fallen victim to this scam.

Mr Kitt made a police report later.

Another motorist, who declined to be named, said he had a similar experience a few months ago.

These motorcyclists - who wore T-shirts with the logo of a petrol station and claimed to work there - took him to an isolated place and tried to sell him his repainted car parts for about RM1,000.

He said: "I told them I could not pay and they got angry. I had to call some friends over before they left."

http://motoring.asiaone.com/Motoring/Ne ... 17248.html
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Re: Car 01 (May 08 - Dec 11)

Postby Chinaman » Wed Feb 08, 2012 10:03 pm

COE prices rise sharply

Feb 08, 2012

SINGAPORE - Certificates of Entitlement (COE) prices closed sharply higher for vehicles in all categories in the latest bidding exercise which ended Wednesday.

The biggest increase was in the Open category which saw a climb of S$6,700 to S$73,801.

The premium for the small cars category rose to S$52,809, up S$4,697.

Meanwhile, the COE price for big cars rose to S$73,890, an increase of S$6,001.

The COE price for commercial vehicles rose to S$49,801, a rise of S$5,800.
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Re: Car 01 (May 08 - Dec 11)

Postby kennynah » Wed Feb 08, 2012 10:07 pm

S$73K can buy a BMW in uk...easily

Chinaman wrote:COE prices rise sharply

Feb 08, 2012

SINGAPORE - Certificates of Entitlement (COE) prices closed sharply higher for vehicles in all categories in the latest bidding exercise which ended Wednesday.

The biggest increase was in the Open category which saw a climb of S$6,700 to S$73,801.
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Re: Car 01 (May 08 - Dec 11)

Postby Chinaman » Wed Feb 08, 2012 10:17 pm

kennynah wrote:S$73K can buy a BMW in uk...easily


With S$73K i can buy a 1 bedder apartment in Bangkok, sup sup water.
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Re: Car 01 (May 08 - Dec 11)

Postby kennynah » Wed Feb 08, 2012 10:21 pm

so, you see how ridiculous we have become... we allow papayas to get away with crime...

everytime we have a problem, they impose fee as the ONLY solution...erp, coe, maid levy, etc
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Re: Car 01 (May 08 - Dec 11)

Postby winston » Thu Feb 09, 2012 5:45 am

Dear All,

I have moved the discussions on Thai properties into the "Thailand" thread.

Take care,
Winston
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Re: Car 01 (May 08 - Dec 11)

Postby winston » Tue Feb 14, 2012 12:14 pm

Six Things You Should Never Tell a Car Salesman

When buying a new car, it’s usually smart to let the salesman do the talking.

Whatever you do, never tell him the following:-

http://epautos.com/2012/02/13/six-thing ... -salesman/
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Re: Car 01 (May 08 - Mar 12)

Postby winston » Sun Feb 26, 2012 11:16 am

S'pore's most expensive car at $3.6m launched this weekend By Samuel Ee

SINGAPORE - Singapore's most expensive car is being launched this weekend and its distributor aims to sell as many as three units a year.

The Pagani Huayra starts from $3.6 million and Melvin Goh of EuroSports Auto believes he can move 'one to three cars a year - maximum'.

'This is serious money,' he said. 'I'm not sure if we can do three, but a couple of cars a year should be possible. It is for someone who wants to be different, after having had so many Ferraris, Lamborghinis and Rolls-Royces.'

Mr Goh should know what he's talking about. Since taking on the Lamborghini franchise 11 years ago, his name has become synonymous with the Italian super sports car brand here.

Like Lamborghini, Pagani is also an Italian supercar. But unlike Lamborghini - where the most expensive model is currently the $1.6 million Aventador - a Pagani costs more than double.

Until now, the most expensive car on the market here is the Rolls-Royce Phantom EWB or Extended Wheelbase limousine.

'If you load that up with options, it will come up to slightly over $2.2 million,' says Mr Goh. 'There is no car over $3 million, so the Pagani will set the benchmark for pricing in Singapore.'

According to Mr Goh, there are 'no firm orders' for the Pagani so far, although there have been 'expressions of interest' from three or four Singaporeans.

So who buys a Pagani? And does having a Rolodex of Lamborghini owners help?

'It's not a question of affordability; it's whether they want to spend on one or not,' says Mr Goh. 'Anyway, there are still a lot of people out there who are not necessarily Lamborghini owners who can afford the car.'

He calls the Huayra with its mid-mounted 6-litre twin-turbo V12 engine a 'very emotional purchase'.

'The car is completely handbuilt,' he explains. 'Every nut and bolt is titanium. Not one switch is from a parts bin but machined from a solid piece of metal. It is bespoke for this particular car.'

But even if money is not an issue, anyone planning to walk into the Pagani showroom - next door to Lamborghini in Teban Gardens - and driving out with a Huayra won't find it easy.

'The production is so small that even if you want it, you cannot have one immediately,' says Mr Goh.

Total volume for 2012 (the first full year of production) is 20 units, although this will be doubled to 40 next year.

Also special is the fact that each Huayra will probably be unique, with a long list of outrageously expensive options available. For example, the two-seater car can be ordered with a full carbon fibre finish - a $500,000 option.

'Each car is different because you can have different specifications. It is possible to be the owner of the only one of its kind in the world,' says Mr Goh.

Despite the marque's rarity, the Huayra will not be the first Pagani on Singapore roads. Two units of the now-discontinued Pagani Zonda were registered here by the previous dealer, Auto Kultur.

Auto Kultur introduced the marque here in late 2003 and the Zondas are said to have cost between $2 million and $3 million each.

http://motoring.asiaone.com/Motoring/Ne ... 30155.html
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