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I would not recommend anyone to buy a car from this dealer

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Old 16-04-2010, 02:28 PM   #1
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I would not recommend anyone to buy a car from this dealer

Guys,

Just a public awareness on my encounter with ******** (there might be a civil suit for slander, I am currently consulting my lawyer. Untill things are clarified I will not list the company name for now.)
The following is how I felt I was overcharged as opposed to market rate.
When I did my full settlement, I was told it is $42,997 I disagree with the amount but had to do it first as need to handover the car. I requested for a total breakdown of their charges but they refuse to!

To calculate the full settlement using the Rule 78 and the 20% market rate, is should be $41,911.89.

Loan Amount: $46,000
Total Interest: $7,728 (Interest at 2.40% for Tenor of 84 months)
Total Payable under Agreement: $53,728

Assuming you have made 12 installments @ $640 each, total amount paid would be $7,680.

Based on Rule of 78, the rebate would be $5688.85, therefore the penalty would be $1137.77

Also assuming there is a 1% penalty (on full settlement amount, but my agreement is already more than a year old) for full redemption within 1st 12 months from Date of Agreement, penalty would be $414.97

Full Settlement Amount would then be $53,728 - $7,680 - $5,688.85 + $1137.77 + $414.97 = $41,911.89

42,997-41,911.89=$1,085.11 (unaccounted money)

Even with the assumption of 1% penalty, there is still a shortfall of $1085.11 which is unaccounted for.

I have repeatedly requesting for the full breakdown of their calculation but my repeated attempt was duly ignored! Such practices of refusal to offer a full breakdown and having non-transparent high rate as opposed to what the market practice, of which penalty is not clearly defined and should not be condone.

U decide for yourself if you should get a car from this dealer.

**As I am currently unable to edit the title I would like to apologize that it is not my intention to not try to rectify this matter within reasonable means to remove the company name. I have also contacted the moderator to remove the company's name, however this is beyond my control.
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Last edited by insomic; 31-05-2010 at 06:15 PM.. Reason: Pending Civil Suit, seeking legal advise
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Old 16-04-2010, 05:50 PM   #2
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just report them to CASE and have them blacklisted...
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Old 16-04-2010, 06:20 PM   #3
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thanks for sharing

but i think u shld be careful in sharing if u have no concrete proof of your allegation tat company might bite back at you and sue you for slandering as well
in the smallest chance tht it is a smearing campaign, you might be sued
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Old 16-04-2010, 06:26 PM   #4
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Problem with this kind of companies, next time need them to have more transparency in future
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Old 17-04-2010, 12:46 AM   #5
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just report them to CASE and have them blacklisted...
I would but it's not worth the effort and they will just get a slap on their wrist.

First , CASE only will help you to "resolve" this case by telling them to hasten the process. Second, if you may not know, it actually requires membership fees to be a member and lodge a complaint where they will be a mediator.

Thanks anyway, do spread the word around.
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Old 17-04-2010, 12:49 AM   #6
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thanks for sharing

but i think u shld be careful in sharing if u have no concrete proof of your allegation tat company might bite back at you and sue you for slandering as well
in the smallest chance tht it is a smearing campaign, you might be sued
These are facts which can be verified as this is what the market is practicing.
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Last edited by insomic; 31-05-2010 at 07:41 PM..
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Old 24-05-2010, 05:12 PM   #7
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They are still refusing to give the breakdown and I have lodge a complaint with CASE but still no respond!
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Last edited by insomic; 25-05-2010 at 12:42 PM..
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Old 24-05-2010, 05:29 PM   #8
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go to the media, newspaper, tv etc.. get reporters to notice your plight.
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Old 24-05-2010, 05:43 PM   #9
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Yup, I will be, but it will depend if the Newpaper will be interested to report on it. If not i will think about writing to ST forum!
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Last edited by insomic; 31-05-2010 at 04:50 PM..
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Old 24-05-2010, 06:24 PM   #10
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Yup, I will be, but it will depend if the Newpaper will be interested to report on it. If not i will just write to ST forum!

Help help to spread the word around! bloody rip off, was there today and they just say the same sht, WO MEI YONG KONG!

I did a recording of the conversation and will post it online later
wah bro, gonna post in youtube? will be interesting.

thanks for the info on merchants
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Old 24-05-2010, 07:22 PM   #11
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They took 2 weeks cos they need to reduplicate the spare key in case u can't pay up they can drive it away anytime.
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Old 24-05-2010, 11:55 PM   #12
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They took 2 weeks cos they need to reduplicate the spare key in case u can't pay up they can drive it away anytime.
Sorry, have you ever bought a car? Both keys are supposed to hand over on the date of handover as the car.

I doubt any dealer will duplicate keys, if that is the case Tow Trucks will go out of business and I doubt the legality of duplicating a key without the Hirer consent is exactly legal. As far as I know, there is no such thing.
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Old 25-05-2010, 02:04 AM   #13
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another case

http://202.6.169.2/mvnforum/mvnforum...ad?thread=1504
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Last edited by insomic; 08-06-2010 at 08:56 PM..
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Old 25-05-2010, 09:15 AM   #14
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Those who feel they have a case against the dealer please contact me.
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Last edited by insomic; 08-06-2010 at 08:56 PM..
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Old 25-05-2010, 09:24 AM   #15
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Time to complain to case......
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