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发表于 30-3-2010 16:32:02|来自:新加坡
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Mar 30, 2010
Some buyers see red over COE top-ups
Those who have made bookings earlier asked to pay more now
By Christopher Tan
IT HAS been a roller-coaster week for some car buyers.
Those who booked a vehicle as far back as January and have yet to take delivery of it have been asked to 'top up' what they paid to secure certificates of entitlement (COEs), prices of which jumped by up to 50 per cent in last week's tender.
Another group of buyers, however, breathed a collective sigh of relief, having collected their cars before the big price hike.
At Toyota agent Borneo Motors, salesmen have asked their customers to fork out between $8,000 and $11,000 more.
Operations director Chan Eng Siew, 48, feels hard done by. He booked a Toyota Vios at $52,888 on Jan 4, and was told he would get the car only this month or the next. But though there were six COE tenders held between then and now, Borneo Motors made only one bid for him and was unsuccessful.
Now, Mr Chan has been asked to pay $8,000 more if he wants the agent to continue bidding for him, and $11,000 more if he wants a 'guaranteed' COE.
The alternative? Void the sale and get his deposit back. But he would still end up paying more for a car now if he goes for an equivalent make as prices have spiked along with the cost of COEs.
Mr Chan said: 'I feel it's unfair. Why didn't Borneo bid when premiums were more stable?'
Another Toyota customer, teacher John Low, 63, said Borneo Motors failed to bid for a COE for him. He has sold his current car and must hand it over to its new owner next month.
The fact that he was actually 'quite happy' with his car, but had been attracted by Borneo Motors' $6,000 discount campaign last December, adds to his pain.
'I'm at the losing end,' he said.
A spokesman said Borneo Motors usually spaces out its bids to avoid sharp rises in premiums: 'For most customers, we tried to bid but were not successful. Those for whom we did not manage to bid at all - they belong to a very small group.'
He added, however, that customers who agree to fork out the extra $8,000 to $11,000 would still be paying less than one who books a car now. The Vios, for example, now costs about $71,000 - $18,000 more than it did in January.
But this is cold comfort to those buyers who feel that Borneo Motors should have secured COEs when the premiums were much lower.
The Straits Times understands this is the first time that the company has asked customers to top up payments.
Data from the Land Transport Authority shows that more than 1,700 bids were unsuccessful in last week's tender.
Kia agent Cycle & Carriage (C&C) said it has not decided on a formal top-up scheme, but that some customers had agreed to do so to the tune of $17,000.
C&C Kia senior manager Chin Kee Min said the company has offered these customers a COE rebate level of $32,000, meaning if the COE falls below that, the customer gets a refund of the difference.
At Borneo Motors, the rebate is $27,000 for those who top up by $11,000.
At Hyundai agent Komoco, managing director Teo Hock Seng said the company will use Open COEs in hand to deliver cars to customers for whom it failed to secure COEs. He said Komoco still had Open COEs at above $20,000, far lower than the last price of $42,001.
Amid the anxiety are some happy campers, glad to have secured their cars before prices shot up by as much as $22,000 last week.
Freelance graphics designer Chan Wai Lin, 36, for example, just took delivery of her Chevrolet Optra 1.6, which she bought for $51,000 early this month.
'I'm very happy. The deal is really worth it,' she said of the car, which now costs about $60,000.
Consumers Association of Singapore president Yeo Guat Kwang said motor firms should draw up sales contracts which are fairer and more transparent.
He said: 'Some of these firms made it seem like (prices of) COEs were falling, when in fact, they were going to rise.
'And sales contracts today tie the buyer down to a particular dealer for three months, but they don't seem to place any obligation on the part of the dealer.
'I think if you are selling a car at a certain price, you should let buyers know what is the COE level you have in mind for you to deliver the car.'
Meanwhile, fresh car sales have withered since last week's price hikes. Komoco's Mr Teo said bookings over the weekend were just 10 per cent of usual sales.
Singapore Vehicle Traders Association secretary Raymond Tang said business was 'very quiet', and that if this were to go on for another month, COE premiums would stabilise.
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MAKE DEALS CLEARER
'I think if you are selling a car at a certain price, you should let buyers know what is the COE level you have in mind for you to deliver the car.'
Consumers Association of Singapore president Yeo Guat Kwang, on the need for more transparency in motor car sales contracts
UNHAPPY CAMPER
Jan 4
Operations director Chan Eng Siew (left) books Toyota Vios at Borneo Motors for $52,888
March
# Borneo Motors bids for COE for MrChan, but is not successful
# COE prices jump by up to 50 percent
His options now
# Pay $8,000 more for Borneo Motors to continue bidding for a COE
# Pay $11,000 more if he wants a 'guaranteed' COE in the next round of bidding |
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