Blog / Car Insurance
Buying a used car in Singapore Where to go and why - Part Two
Some things are better if you think about them another way. Take your daily commute. It helps if you don't see it as one long traffic jam, but rather as thousands of brave people determined to press on for another day.
Back in the real world, the car team at Budget Direct Insurance has been thinking about ways to help if you are buying a used car in Singapore. In Part One, we advised on where to go if you want…
1. The most choice for the least amount of effort
2. The most car for the least money
3. The car no one else will have
But what if I want to…?
4. Take my time and bargain down
Then buy a car direct from its owner. This way you can wait for the used car you really want at the lowest price. The car want may be anything from the cheapest available, to a Toyota/Lexus, to a Zonda.
If a Zonda owner is selling their car, you better believe they’ll be willing to bargain. Why? Because all the time that car is not sold it’s costing them their down payment for another car + maintenance fees ++. No one likes spending money on something they are trying to sell, so your bargaining power is high.
Like great car insurance, there’s no middleman. And no expensive showroom to raise the price you pay for the car. Also, owners are more likely to tell you what the car is really like without the sales patter.
In most cases you will be able to test drive and see for yourself how the car handles.
The legal bit
You, as the buyer, pay for the car before getting car registration documents in your name. This can only happen after the used car seller's loan has been cleared. You must also have car insurance in place before the transfer of ownership is approved.
LTA vehicle transfer guidelines here.
5. Buy a used car without the risk
As COE prices increase, Singaporeans are looking more favorably at the lower costs of buying a pre-owned car. But, let’s be honest, some of us are not crazy about the risk attached to buying a car that has not just rolled out of the factory.
This is where authorized dealers come in. Performance Motors offers a good range of pre-owned BMWs. You can also shop around for other respected brands,
“Wearnes PreOwned offers a wide range of luxury brands, including those from its own new car stable (Volvo, Jaguar, Land Rover, Infiniti, and Bentley), as well as non in-house brands that are traded in (BMW, Mercedes-Benz, Lexus, Audi, and others).” Samuel Ee, The Business Times
Pre-owned cars from authorized dealers add significantly to the buyer’s peace of mind because all cars in this category undergo an extensive inspection. In addition, they often come with warranty and service guarantees.
For more tips on buying a car in Singapore, look out for future posts in this series.