Government (MTI) and CASE has jointly proposed changes to this
part of the act regarding "Collection of deposits by motor vehicle
dealers".
10. Motor vehicle dealers often package the purchase and financing
of a motor vehicle together, collecting a deposit (which comprises
the down-payment, Certificate of Entitlement bid and financing
package) from the consumer. In some cases, the deposit is not
refundable if the purchase falls through, upon a failed loan
application. There has been feedback that some dealers have been
confiscating the deposits, citing a failed loan application as the
reason but without providing any documentary proof of the fact. The
proposed Consumer Protection (Fair Trading) (Motor Vehicle Dealer
Deposits) Regulations addresses this issue.
11. To enable a consumer to make an informed decision
whether to agree to the motor vehicle dealer's terms, it is
proposed that dealers should be required to disclose their deposit
refund policies clearly in their sales contracts. Where
the sales contract involves financing, the dealer will not be
permitted to retain the deposit unless he has given the consumer a
written statement to prove that he has applied for the financing
and inform the consumer of the application?s outcome.
12. It is also proposed that motor vehicle dealers should
have the burden of proving that they have complied with these
requirements. This is necessary because it is difficult
for consumers to prove a negative fact (that is, the dealer did not
make the necessary disclosure or provide a written statement),
whereas dealers would be in a better position to safeguard their
interests by keeping proper records. Such provisions can be found
in other local and overseas legislation.
Source: http://app.reach.gov.sg/olcp/asp/ocp/ocp01d1.asp?id=4583
-_- if you have any comments, u reply here is no use. go to
reach.gov.sg (or use this direct link: http://app.reach.gov.sg/olcp/asp/ocp/ocp01d1.asp?id=4583
) to leave your comments abt this changes before they approve this
change (that means now la)
dont complain when change liao! =/
LINK LINK LINK::: http://app.reach.gov.sg/olcp/asp/ocp/ocp01d1.asp?id=4583
at the bottom can leave your comments about the proposal..
lalala