Conned Big Time And Called A Cheat!!!!

[skateboy]

its a lesson not to trust anyone easily when buying or selling of bikes. we call the shops "black shop" but to think back, they have to b cunning else how r they going to deal with those cunning customers?

 

then as customers dun pay installments, wat will u do if u r the shop owner? when we buy bikes, black n white is signed. we cannot deny anything cos we signed on the dotted line. n the agreement n watever we sign is to safeguard the shop's interest n not customer's interest.

 

its a very expensive lesson learnt. good that the TS share with all of us n of cos others who contributed their valuable views.

[syarif]

for me, COI is okay IF u got black and white agreement. My ex mito and current superfour is COI one with black and white. both parties must be responsible laa

[LordMemy]

haha next time go buy bike bring a lawyer along then they cannot anyhow change the terms and all.

 

and yeap defamation can occur through the internet as well. even if its accidental, its still defamation. so bros be careful of what we say. there might be spies reading everything.

[arsie]

The opposite is true too, if the sales person did specifically call the TS a cheat, the TS can sue the sales person for slander (verbal defamation, as opposed to libel, which is written defamation.)

 

Defamation is making a false claim, and presenting it as a fact. The threat is that they want to bet that individuals are unwilling to come up with $5000+ to fight the case. If the TS has grounds to counter-sue the shop for slander, then maybe it is worth coming out with the money.

 

But that is all beside the point. The situation is very simple, if you let a guy COI as a sub-rider, then you are essentially being the guarantor of his loan. If the shop cannot chase the sub-rider for money, they will chase you for money. That aspect is completely above board, any bike shop will do the same.

 

The other situation is with them changing the terms and conditions, etc. To stand up in a court, all parties involve need to be notified of changes to a written contract. Again, it might be a case of, "I can afford lawyer, can you?"

 

Most small law firms will charge about $500/hr on cases. They usually ask that the client pay 5-10hrs or whatever in advance to study the documents involved, before they can recommend and explain various courses of actions that a client wants.

 

A client might be "die die want to sue them until bankrupt", and the lawyer can only give his recommendation, and an estimate of the cost, even if the lawyer thinks its a very bad idea, he'll still go ahead with it because thats what the client wants. Unless he morally does not want to represent this customer.

[darren_soh86]

ban all e shops in alexandra.. in my humble opinion.. they dun even deserve a chance. they call that sales? attitude problem, haolian, tua kang, scam, wateva.. u name it they got it.

 

motorcycling industry in sgp is undoubtfullly one of the darkest trade around.

 

respect and confidence must be earned. u cant get them juz by sueing ppl who dun agree with u.. go ahead n continue the stupid stunts. i'll c who gets the last laff utimately.

[Baphomet]

nah beh..this bikeshop again....i've already told all my friends and everyone i met never to go to that shop! bought my first 2 bikes from there they really sux..think they survive so long by carroting alot of new 2b riders.....wan to sell my second bike and want to early settlement...still need pay more? early settlement fee? its not as if i pay lesser wat..i still pay the same amt and better still 1 shot pay all...yet i need pay early settlement fee? pay up and happy that i will no longer have anything to do with that bikeshop. wth? when i bought my current bike at heng motor enterprise i ask them if i clear installment 1 shot can? they say sure and no such thing as early settlement fees. .. I really warn all fellow bikers neber ever go that shop~!

 

This shop can be found on the 'compass', if you know what i mean.

[HondaSP]

i'm still blur from all these post ... who can pm the shop name to me ??

i'm thinking if its the shop in my mind.

[4DToToBig Sweep]

Burn that shop.... Muhahaha:lol: :lol:

[4hookes]

I defaulted on 4 months of instalments with a shop. My bike was repossesed and a week later it was sold off. I didn't know how much it was sold for.

 

I received a letter a week later demanding me to pay $6500 which includes all the charges.

 

When i had the bike, the total sum that was on loan was $6000++

 

The question is:

 

1) Why don't the bike shop offset the $6500 from the AUCTION price that it was sold off for? Don't they make a profit when they sold off my bike?

 

Imagine this. They demand $6500 + They sold of bike $3000 = $3500

 

Total amount of money bike shop gets = $10000. ($6.5k + $3.5k)

 

Shouldn't i be paying $3500 instead of $6500? How is this fair?

 

Has anyone any experience on this?

 

Please advise...

 

Confused, Sad and Shocked.

[alifk69]

I defaulted on 4 months of instalments with a shop. My bike was repossesed and a week later it was sold off. I didn't know how much it was sold for.

 

I received a letter a week later demanding me to pay $6500 which includes all the charges.

 

When i had the bike, the total sum that was on loan was $6000++

 

The question is:

 

1) Why don't the bike shop offset the $6500 from the AUCTION price that it was sold off for? Don't they make a profit when they sold off my bike?

 

Imagine this. They demand $6500 + They sold of bike $3000 = $3500

 

Total amount of money bike shop gets = $10000. ($6.5k + $3.5k)

 

Shouldn't i be paying $3500 instead of $6500? How is this fair?

 

Has anyone any experience on this?

 

Please advise...

 

Confused, Sad and Shocked.

 

first of all, you shouldnt have defaulted on your installments.. now got so many problems..

anyway, i tink this is wat most, if not all, bike shops do when they reposess a bike.. u should have read the agreement that u signed with the shop..

 

fair or not, the bikeshop didnt create the problem in the first place.. now a small thing that can be avoided by paying ur installment promptly blows up to become a major thing..

 

let this be a lesson to u.. cant afford to pay installment, better dont get a bike yet..

 

hopefully u can solve this problem of urs..

[fleas]

seriously, i don't get why shops in singapore do these kind of ****.

 

i mean if your reputable for being friendly, understanding and awesome, won't you get more customer + income? not to mention friends/contacts?

 

but they have to **** it all up just to earn abit more and spoil their name which i think is seriously stupid

[d0n]

seriously, i don't get why shops in singapore do these kind of ****.

 

i mean if your reputable for being friendly, understanding and awesome, won't you get more customer + income? not to mention friends/contacts?

 

but they have to **** it all up just to earn abit more and spoil their name which i think is seriously stupid

 

some food for thought...

would u be friendly and understanding and awesome to someone who default on loan repayment for 4months, when yr business depends on money collected frm these installment/loan takers and yr family is waiting for u to feed them?

 

I defaulted on 4 months of instalments with a shop. My bike was repossesed and a week later it was sold off. I didn't know how much it was sold for.

 

I received a letter a week later demanding me to pay $6500 which includes all the charges.

 

When i had the bike, the total sum that was on loan was $6000++

 

The question is:

 

1) Why don't the bike shop offset the $6500 from the AUCTION price that it was sold off for? Don't they make a profit when they sold off my bike?

 

Imagine this. They demand $6500 + They sold of bike $3000 = $3500

 

Total amount of money bike shop gets = $10000. ($6.5k + $3.5k)

 

Shouldn't i be paying $3500 instead of $6500? How is this fair?

 

Has anyone any experience on this?

 

Please advise...

 

Confused, Sad and Shocked.

i got a feeling that they did the calculations the way u did. just that the amount of money they collected frm selling yr repossessed bike was 'damn low' and the admin charges are 'damn high'. so thats why u ended up having to fork out $6,500.

 

e.g. loan amount $6000 - selling price $1000 + admin charges $1500 = outstanding balance $6500.

Edited July 4, 2009 by d0n^

[Killer75]

I defaulted on 4 months of instalments with a shop. My bike was repossesed and a week later it was sold off. I didn't know how much it was sold for.

 

I received a letter a week later demanding me to pay $6500 which includes all the charges.

 

When i had the bike, the total sum that was on loan was $6000++

 

The question is:

 

1) Why don't the bike shop offset the $6500 from the AUCTION price that it was sold off for? Don't they make a profit when they sold off my bike?

 

Imagine this. They demand $6500 + They sold of bike $3000 = $3500

 

Total amount of money bike shop gets = $10000. ($6.5k + $3.5k)

 

Shouldn't i be paying $3500 instead of $6500? How is this fair?

 

Has anyone any experience on this?

 

Please advise...

 

Confused, Sad and Shocked.

 

Bro, most shops that do hire purchase r like that. But if u ask abt fairness then i tink nt payin the instalments to the hire purchase company is nt fair in the 1st place.

From what i understand, they will include repossession fee, admin fee, storage fee n legal fee. If the buyer of your bike dont like the condition of your bike, the bike shop will repair or replace parts like tires or paint work and put the bill on u as well.

Imagine if u r the bike shop owner, a customer who default 4 months payment n u reposssessed the bike which is in a "nt so good condition" u also need to do up the bike before u sell the bike again right? Logically u will also dump all these damages to the default customer.

I guess the only thing u can do is go dwn to the shop n ve a word with the person in-charge to see whether can do some adjustment to the $6.5k. Gd luck...

[luckystar]

If payments are not defaulted for so long (4 months) I guess there would not be so much problems.

[fleas]

since you put it that way :

 

but im sure if shops are awesome, they will work something out.

[jtzx]

moral of story is to do your own homework first before getting a bike from shop.. Give yourself like 3 days to consider. do not rush to get the bike.

[chuan.z]

Bro, most shops that do hire purchase r like that. But if u ask abt fairness then i tink nt payin the instalments to the hire purchase company is nt fair in the 1st place.

From what i understand, they will include repossession fee, admin fee, storage fee n legal fee. If the buyer of your bike dont like the condition of your bike, the bike shop will repair or replace parts like tires or paint work and put the bill on u as well.

Imagine if u r the bike shop owner, a customer who default 4 months payment n u reposssessed the bike which is in a "nt so good condition" u also need to do up the bike before u sell the bike again right? Logically u will also dump all these damages to the default customer.

I guess the only thing u can do is go dwn to the shop n ve a word with the person in-charge to see whether can do some adjustment to the $6.5k. Gd luck...

 

Indeed, and not to forget the interest payment on default. Usually if you default on a loan, the whole oustanding amount becomes due. However, for whatever reason, they already "close one eye" on your default of up to four months, before they deem that you are unable to service the loan, and hence, reposessed the bike.

 

My advise is to talk to the bike shop and strike some agreement for repayment ASAP. You have probably received a Letter of Demand (LOD) before they reposessed your bike? It's a letter stating how much you owe them in total, and settle by when bla bla. Please take note that the LOD is the first step in civil suit, it is to state in black and white how much you owe the company.

[chuan.z]

And to add on, once you defaulted on your installments, the interest calculation is different liao. The original 4/5/6/7% interest doesn't apply anymore, and the "new" interest rate can be up to 2% per mth (depends on what's written in your hire purchase) on the total outstanding. That's why, please strike a payment agreement with your shop ASAP.

[4hookes]

Thanks for all the input, maybe i will go down and talk to the bike shop about the loan and if i could pay it in installments...sigh...$6500...arghh! Thanks anyway guys.

[Honda Crazed]

nah beh..this bikeshop again....i've already told all my friends and everyone i met never to go to that shop! bought my first 2 bikes from there they really sux..think they survive so long by carroting alot of new 2b riders.....wan to sell my second bike and want to early settlement...still need pay more? early settlement fee? its not as if i pay lesser wat..i still pay the same amt and better still 1 shot pay all...yet i need pay early settlement fee? pay up and happy that i will no longer have anything to do with that bikeshop. wth? when i bought my current bike at heng motor enterprise i ask them if i clear installment 1 shot can? they say sure and no such thing as early settlement fees. .. I really warn all fellow bikers neber ever go that shop~!

 

This shop can be found on the 'compass', if you know what i mean.

 

 

 

 

 

bro can u PM me which shop is this...?

[yenyenpark]

wow.. some1 really dig the thread!! gosh!

 

those who NEVER pay their installment.. you know how people getting BANKRUPT defaulting (or not paying) credit card payment??

 

the theory is the same, if u don't pay, the interest + the $$ u own will SNOWBALL..

 

worse case, if u cannot afford the bike, house or whatsoever, pls SELL it immediately instead of waiting of getting repossessed.

 

welcome to the REAL world!!! stop being naive!

[Kuyo]

hi mind if pm me the bike shop name and the salesperson ?

[joey_sfb]

Also kena their 'POWER' before, 2 different shops!!!

 

ban all e shops in alexandra.. in my humble opinion.. they dun even deserve a chance. they call that sales? attitude problem, haolian, tua kang, scam, wateva.. u name it they got it.

 

motorcycling industry in sgp is undoubtfullly one of the darkest trade around.

 

respect and confidence must be earned. u cant get them juz by sueing ppl who dun agree with u.. go ahead n continue the stupid stunts. i'll c who gets the last laff utimately.

[rylche]

Wow this is certainly quite a bad incident and a lesson to learn for all of us! I guess I'll have to think twice about loans from shops from now onwards..

[big4rider]

I think that's a case before. http://www.hardwarezone.com involving one of the famous shop in Sim Lim Square. The coy went to court to get court order and served it to the website to handover the IP of the forum-ers. Then took legal actions against the forum-ers.

 

Defamation applies even in internet. To seek the proper legal advice ask the lawyers and not the police officers (this sort of defamation unlikely to be criminal defamation under the penal code so police will do nothing about it since it is non-criminal).

 

You may wish to refer to the Defamation Act.

http://statutes.agc.gov.sg/non_version/cgi-bin/cgi_getdata.pl?actno=1965-REVED-75

 

As far as I remember, the coy did not send out official rubber stamped lawyer letters, but warning emails to settle the issue privately to those involved. As far as I remember, there were indeed posts of defamatory nature but I believe there were genuine cases as well. Like the odex case, I think many worried parents would have settled privately without much thought.

 

Nonetheless, the parties met up and the matter was resolved without actually going to court. Nobody was fined or jailed even if they didn't settle the issue privately with the coy. But at the end of the day, the matter made it to the newspapers and everyone knew about them. Of course its been like over a decade but I'm unlikely to forget this whole issue.

 

Back to the topic, as long as you reasonably(decided by judge) infer the shop's name and have done damage to their reputation causing potential and actual financial losses, then they have a case. But then they have to prove how much loss first. While it is on their onus to proof that the damage was done before bringing up the case, the typical first action is to send out a lawyer letter to invite a private settlement.

 

Whether they have a case or not, most people I believe do not wish to get involved with the law and so, I believe that the letter is actually more powerful than the defamation law

 

That's the sad reality of the defamation law... it's more like a game for the rich.