Not that I’m saying there is no chance of you spotting a bargain used car and saving a few thousand on that purchase, but caveat emptor, you are responsible for checking your purchase.
In Singapore, cars do not vary too widely in price – there is usually a market rate, and it’s the buyers responsibility to check what the market rate is and how big the variation is prices can be. Usually, this variation is bigger for those cars that are rare, say a Maclaren or maybe something less costly, like an Alfa Romeo.
The variation is smaller for for bread and butter cars like the a Honda Fit or a Corolla Altis of similar age, ownership count and mileage. For a dealer, what is the motivation for selling something extra cheap?
We are more concerned about quality than absolute price. If that purchase was a little more expensive, and comes with a clean history and good mechanicals, that would, any day, be our choice over cheap cheap cheap. If a sales person is telling you this is cheap, stand back and observe carefully first.
Had a report from a guy who bought a Fit at a lower price and found that many things didn’t exactly work, like the rear power windows, for example. These are actually minor and cost about $300 each power window to repair, but then there are other cars you may not want to drive.
Why? Have a look at this video below.
Would you drive the above as a performance driving car? And put your kid in it?
Here’s the next part you may not be comfortable knowing. We come across in the course of our business, offers from scarp yards that buy in vehicles from insurance companies that have taken over cars which are deemed “beyond economical repair”. They often do not scrap the cars at all, but will promote these to car dealers at a slightly reduced price and offer to do repair for it.
However, repairs done are often the kind to maximize the scrap yard’s profits rather than the new owner’s preference for quality workmanship. We do understand, there must be profit for work done. So, if you come across a scrap yard owned by someone who has a conscience and a heart of gold, do let us know.
Something really cheap on the market? Caveat emptor! And have fun looking around for your next car!