may god help the used car dealers....

[jeffblazed]

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?

 

[acbc]

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.

 

[AXXeLL]

Serious ?? this means second hand car price really dropping like rocks ??... YAHOOOO!!! Perdana Tabo HERE I COME !!!

 

[acbc]

Be prepare to buy used cars in cash.

 

[ExceL]

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.

Off Road Spec 4x4...here I come.
And REMPITS..... buahahaha.... HERE I FARKIN COME!

We buy together, can get discount. lol

I'm getting the optional snow-plow front:_:

 

[Tohsan]

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?

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.
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.

 

[links]

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.

 

[Tohsan]

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.

 

[koolspyda]

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.

 

[jeffblazed]

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.

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.....

 

[koolspyda]

& 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.

 

[evo3]

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

 

[antaras]

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

not "maybe soon" my fren... I believe it is happening now as we speak...

 

[JacEK]

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.

 

[acbc]

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.

 

[Tohsan]

hahaha that one i will surely like to see, well said Satria95 taiko! Kaboom kasi itu parlimen cibai Bn mampus!

 

[infernaL]

acbc : i think the loan requirements got more strict due to the non performing loans as people cant sustain the loan payments .

 

[JacEK]

really strict, i was late 2-3days making my car installment this month which due 13th and the bank collection department called me twice a day....

 

[acbc]

acbc : i think the loan requirements got more strict due to the non performing loans as people cant sustain the loan payments .

Yes. Agreed.

Any non-performing loans are considered as loss to a bank and this made their shareholders very unhappy about it.

 

[R.C.]

Off Road Spec 4x4...here I come.
And REMPITS..... buahahaha.... HERE I FARKIN COME!

Hahahah relax wei .... the Rempits may upgrade their 2 wheels to 4 wheels to challenge us. :_:

 

[koolspyda]

really strict, i was late 2-3days making my car installment this month which due 13th and the bank collection department called me twice a day....

electricity bill, telecom bills, water bills, loans from banks are will breath down your neck when you dont pay on time.

and you have the situation where a high number of big/large companies are resorting to at least 180days to pay suppliers, (some even more).

all the mice sure die when they cant survive cause they struggle to pay the loans/live to the current living standard.

elephants will decide whats the next super cash-rich scheme to milk.

 

[Lennon]

History tells us 'Money generates more money'..... That the richs are richer, while the poor are poorer........ That's why don't spend money on unnessary things, save it for investment on property and stock....... Look for every opportunities that can help you earn more......

 

[ramsing]

maybe the govt thinking of the environment.

like say china/india 20 yeras ago. 99% of populations ride bicycles or walk. to increase semangat 'muhibbah', they want to us to ride bus/trains like india/china style. meaning overflowing from the sides/on top of roof. so that while we 'hang out', we can chit chat about not enuf food on the table, and which spot in jungle can find vege/herbs to put food on d table.

and when there's a reason to riot, we can be like indo and take our trusty parangs and go on a killing spree. satria_95 can lead the pack. :)

but seriously, car prices are tumbling drastically. if u save enuf for 2 or 3 years, u can buy a 2nd or 3rd hand car cash. especially if its not a popular brand. 1985 proton saga for rm2500 anyone? u can use it at night n mow some rempits....

 

[Joeker]

I can get 1985 proton saga for rm2500 and use it at night to mow down some rempits....

Thambi,

I also Mat Rempit bai, give chance la bai.

 

[Joeker]

Dude, they don't have the money to buy anything on 4 wheels, not even the trolleys in Giant hypermart. hahaha And let's not even mention about loan repayment, maintenance, license, insurance, road tax, bla bla bla. Don't you notice that those rempit or it's like who can afford 4 wheels, always have their windows wound down even during a thunder storm? Air cond makes the car lose power which makes the car consume more petrol... etc etc etc which in the end costs more money. So... they won't be able to afford it. buahahaa

Dude, alot of "Mat Rempit" have money to buy many things. EVen more than 1 car.

But a car is suppose to be convinience not a burden. When you spend almost half the monthly salary on petrol and tol, its time for a reality check.

And lets not mention about car repair, maintenance, license insurance, road tax bla bla bla, Our motorbike repairs are less than RM10 and road tax is FREE. Maintaince? wat maintenance? there no maintenance at all. Just pour petrol and ride.

While people are spending alll that money on their petrol and tol, etc, Mat Rempits like us are paying for our housing loans and improving our quailty of life better (we get less stress out than those who stuck in traffic hours on end, we get to spend more time with family and love ones, etc)

While Mat Rempits take less than a mere 10 mins to ride throught the notorious traffic jam from Sg. Besi 50sen tol to Conought Giant CMC in Cheras, cars take almost 1 HOUR to crawl the same distance.

I also notice that those people who always bitch about proton, petrol, tol and the Gomen but yet still drives a Satria, uses toll roads and is not even a member of ANY opposition Political Party. (gee, i guess empty vessels do make the most noises)

PS : While I'm typing this (after having my dinner and showered and ready for bed) my neighbour who works in Citibank Jalan AMpang, is still stuck somewhere in traffic jam.