Diffs between buying a car from dealer and owner?

ryann24 SG

I just got my new licence and wanted to buy a second car. From what i know, buying a car from dealer is much more expensive from buying from owner owner and we can bargain from owner.

1) Normally what is the car's price diff between a dealer and owner?

2) I heared buying from the owner itself, we have to find our finance company for the loan, so what how is the transaction going on between myself and the owner?

3) From your past experience, who should i appoached better?

sgboy2004 SG

Dealer will do all the necessary admin work for u, and of course demand something in return, tat's their commission mah, how can they just do for free, right?

In addition, they hav to gain sales for their respective company too...

If u can find an owner to buy the car from, then ok lor, u skipped the middleman...

That is what the internet has been talking abt: disintermediation...the removal of the middleman... as in the airline ticket sales...whereby pple detoured from the tour agents and buy direct from the airlines themselves...

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Nutty Professor Croco

ryann24 SG

err….can get to the point? i dun really understand

sgboy2004 SG

just buy from the owner... u might just have to run around to register this and that, which the car dealer might have done for u...

if u have the time, just do all the registration work on your own (including the bank loans, vehicle ownership transfer, etc)

Good luck

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Nutty Professor Croco

ryann24 SG

err.. what can i find a good bank loan etc? any one can intro a good one

ryann24 SG

err.. what can i find a good bank loan etc? any one can intro a good one

ryann24 SG

err.. what can i find a good bank loan etc? any one can intro a good one

sgboy2004 SG

u hav to do a bit of research on the various schemes provided by the various banks

Mr. Green

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Nutty Professor Croco

Praetorian111 SG

That is what the internet has been talking abt: disintermediation...the removal of the middleman... as in the airline ticket sales...whereby pple detoured from the tour agents and buy direct from the airlines themselves...

Wrg example..... dude croco.... u buy from tour agent it will be cheaper than buying from the airlines themselves.... Very Happy

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Nutty Professor Croco
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sgboy2004 SG

It is right and wrong...as the later industry showed...

that was the period of disintermediation when the internet came into the business model of many companies...

But it is later on that pple found tat it is not just the airline tickets, but a whole array of other services tat they need...and hence there was a period of dis-disintermediation...

But in this car of car dealing, it will always be cheaper to buy from the owner cos u skipped the commission for the car dealer

Case closed.

hahahahhaha

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Nutty Professor Croco

Praetorian111 SG

Hahaha prof crocodile sounds like experts.... Very Happy

choppers SG

okie.... things goes like this. if you buy from owner... defintely you can get better deal... if you get from dealer.. you have to pay a premium..... if you are a "calculative" person... then u should take into consideration the calculation the current paper value.. dealer always like to quote..." current paper value + body is onli $39k but i am selling at $38.5k.. so u earn".... i dunno what they meant by BODY.... maybe they meant exporting the car..... but a lto of times... when u calculate current paper value.. and the pricve they quote.. the premium could be as much as 6k to 10k.. is it worth?????? for me.. i bought my car from a dealer.... i paid a premium of $4k over paper (excluding thei so called BODY).. but i think is worth....becos... that's the lowest PREMIUM i can find so far.. and for myself.. i always calculate when will i breakeven with the bank .. for example.. at the end of 1yr if your paper is 36k and your loan still remains outstanding at 40k takign into a/c the rule 78... you will still owe the bank 4k if you scarp your car.....etc..... so for my case.. .. wheni bought that car... i think i will breakeven... after 1 yr.. meaning.. i will not owe bank anything if i scarp my car after 1 yr.. dude.. you may wan to use this as a guide... gioven the economy uncertainties... Rolling Eyes

ryann24 SG

Kinda confusing for a new guy like me.... I read some advertisement from dealer that 'no downpayment' to driveaway..and the car cost about around 50k.. so how much exactly will i be paying for installment plus interest?

choppers SG

confusing? i suggest you go find ou from friends on what i meant.. becos its your precious $ that you are paying.... no downpayment.. but interest is higher..a simple illustration... car quote $40k no downpayment.. so is call full loan.... if 7 yrs loan... interest assume at 3% so u take 3% x 7 x 40k=8.4k then plus 40k and divided 84months=$576/mth. no downpayment but u still have to pay something one.. like trsf fee, 1st instalment and insurance....
dun justthink how much u can pay per month.that's a piece of advice to you...

ryann24 SG

the normally…how much is a the transfer’s fee and first installment?

choppers SG

trsf fee is 600-700 i think .. btu if u eye for a car.. u can check online at www.onemotoring.com for the trsf fee… as for insurance….. see how old r u and any NCD….. etc… the younger u r .. the more expensive insurance can get.