whats going on la wei.......this business going bad la...already three of my buddies close shop already in the last 3 weeks......they say next year is going to be worst.....so most of them sold their stocks...to get out early....it seems the goverment and bank negara have something cooking which is going to hurt the used cars dealers.....any body got any insider story about wats going on?
may god help the used car dealers....
- Thread starter jeffblazed
- Start date
Well, banks have tighten their loan policies making it difficult for many people to buy used cars. Plus, at 6.75% to 8% per annum, who can afford it?
Closing the business early is a wise move because used cars values depreciate very fast.
This is a sign that we may get brand new imported cars cheaply next year. Banks also prefer to give loans to new car buyers.
Closing the business early is a wise move because used cars values depreciate very fast.
This is a sign that we may get brand new imported cars cheaply next year. Banks also prefer to give loans to new car buyers.
Serious ?? this means second hand car price really dropping like rocks ??... YAHOOOO!!! Perdana Tabo HERE I COME !!!
I dont have any inside stories, but my dad's friend has a used car lot. Previously had a showroom for imported cars, but since the AP thing, have to close. Things are just getting more and more expensive. The only thing that hasent change; The rich are getting richer, while the poor is getting poorer.
I'm getting the optional snow-plow front:_:
We buy together, can get discount. lolsatria_95 said:
I'm getting the optional snow-plow front:_:
ya a lot kena already, from what i gather a few P2 dealers also kena, when the salesman sent in 10 application for loans for their client, can you imagine only one loan is approved by the bank. End up they only manage to sale off 3 car per month compare to few years back 20 to 30 cars per months is the average figure.jeffblazed said:
The are tightening the credit facilities for car loan, but I wonder why there are so many call up my phone offering personal loan from credit card company, isn't that defeating the overall purpose of tightening the credit facilities.
btw car industries is not the only one that is suffering,in the line of manufacturing of wood also affected badly although u see a lot of building is being built. I got a few counterpart which is the old bird in the same line for more than 20 years have to closed their business,they have to closed their showroom and factory one shot, all the workers were lay-off, the current "pelan induk" of the fucking G only serve to benefit a few fuckingumnoputraccb crony,what is leftover for those not connected to the big shot barely can help them cover their basic break even cost,no need to mention about making profit its not happening.
if the interest rate go up to 6.75-to 8%..its a sign of the depression and it means the econ is in a critical state ......it shows that the financial market are short of cash.......when the interest rate goes above 10% then we will have the great depression already.
remember Mahathir style reducing interest n increasing the consumption by pumping in funds into the market at least economy still not overheat, we still can have afford to pump petrol and drive,now u can see inflation sky rocket and unemployment rate go up all the way, crime rate increase, smuggling activities increase,police taking undertable money without restraint,government increase price of everything like no tommorrow,malaysia turnover of business is worst than Indonesia, malaysia economy already in the sick level.
predicted this a year ago. everyone is forcing ppl to buy new cars. (which is short term solution to boost sales)
ppl will be stuck with cars the cannot sell. so many ppl holding on with longer repayment & now their cars in market are even lower than what the still owe to bank.
ppl will be stuck with cars the cannot sell. so many ppl holding on with longer repayment & now their cars in market are even lower than what the still owe to bank.
so if this is going to happen used car dealers should sell their cars cheaply now before they lose out......how about the current car users will they be affected to.....acbc said:
& btw, many banks are chasing ppl like ah longs these days as a lot of ppl are slow in repaying the loans.
that my friend, speaks volumes of the mess of affairs of Malaysia INc.
that my friend, speaks volumes of the mess of affairs of Malaysia INc.
maybe soon we will be like Indonesia. :) the rich getting richer, the poor will become poorer while soon there will be no middle class. :p
rich getting richer?? u mean all the menteri menteri, datuk datuk, datin datin and samy cibai samy?? oops...did i say samy??
guys, as predicted, our economy is going downtrend bros. so, better be prepare.
guys, as predicted, our economy is going downtrend bros. so, better be prepare.
Let's face it... the economy is bad and anyone dealing with both used or new products are suffering.
Plus, banks only want to make their shareholders happy by not simply giving out loans like they used to last time.
Plus, banks only want to make their shareholders happy by not simply giving out loans like they used to last time.
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