Hello everyone. As said in my previous post, I went down to the
Balestier Point to have a real experirence. Here is what I ironed
out.
In the newspaper:
'93 civic 1.6ESi, auto...
$20.8K with COE 8/2011
monthly $280x7years,
interest 2%.
$0 drive away.
Over the telephone call:
Yes. everything confirm, no hidden cost, come down and see
lah...
When I went there:
The cars, frankly speaking, are in good condition.
$20.8K is the total loan amount! You have to fork out 15K first!
The car price tagged 35K.
Monthly $280 is true only when you downpaid 15K!
Interest rate 2% is for the one year, in another words, if you can
pay back 20.8K in 1 year, you can enjoy 2%. Otherwise the rate is
4.69%.
If you take full loan, you can only fork out 1K for the 1yr
insurance & transfer...
Side information to share:
luckily, the saleman entertaining us is not that bad, although he
is really a typical Ah Beng look. All the cars are parked at the
3rd floor carpark, mainly Honda. The first thing he told us was,
surprisingly, "do not believe the newspaper!!!!!" He told us
something I think are useful: this above 10yrs car is called "COE
car". To buy coe car is just like to rent a car, because at the end
of the day you get nothing. In SG, drive a new car now cause you
1K5 per month in total, drive a used car cause you 800 per month.
That is fact, otherwise MRT will run into trouble.
Conclusion:
There is no pizza falling from the sky!!!
It is finally proven that those ads are intended to
mislead potential used car buyers.
Can we make an officail report to CASE about such misleading ads.
Because I think advertisers should bear the full responsilbility of
their actions.
Maybe as a deterrent punishment, those dealers who advertised
misleading ads would have to sell their car at the advertised
price?
What do you all think?
