5 Greatest Myths When Buying A Second hand Car in Singapore
Used cars are old cars
This is probably the most serious misconception car buyers have. The average age of the car population stand at 5.57 years in 2014 (http://mypaper.sg/top-stories/car-doctors-thrive-car-population-greys-20140304). This is considerably lower as compared to many other countries. In addition, road conditions in Singapore are generally good. As a result, if you walk around in the second hand carmart, you will notice most second hand cars at the carmart look relatively new.
Dealers cannot be trusted
You probably have read about used car dealers modifying the odometer of the cars so as to make it more attractive for potential buyers. Yes, there are cases being reported on it. And some dealers do that. Thus, it makes it all the more important to scout for a reliable car dealer who have been running the business for at least a decade. Do not focus entirely on the selling price of the vehicle for there might be a catch.
Used cars are not reliable
While the used cars performance can never be on par with a new car, proper maintenance and driving habit coupled with the selection of car brands and models that are proven to be reliable can help you mitigate this possible risk. Honda, Toyota and Suzuki are examples of car brands that you can choose from.
Purchasing new cars make greater economic sense
In fact, it’s the contrary. New cars never failed to experience steep depreciation in the first three to four years. With a higher initial loan amount you took out for a new car, it does make a lot of economical sense to go for the second hand car. Furthermore, you can drive off the car in one or two week’s time.
Second hand car dealers make a lot of money
We probably wish it to be true. But atlas, it isn’t. Second hand car market is very competitive and every now and then, new players come into the scene and offered unrealistic discounts and gifts only to end up folding the business when it is not sustainable. As second hand car dealers, we need to shoulder multiple risks including high operation cost, risk of a bad buy, COE fluctuations and more. We rely a lot on word of mouth. This explains why we remain committed and honest in our trade for the past 19 years of operations.