Won a new car but don't want it

[Rain1407]

Not sure if this has been raised before but genuinely need some advise.

 

PS: To all my family members & friends in this forum who knows who I'm reffering about, pls do not disclose the model of the car & anything related to the identity of the owner. Thank u for ur co-operation.

 

A person I know just won a 2Litre car (without COE) from somewhere. Problem is he already has a simple OPC car & a scooter & he does not need that new 2Litre car to add on his burden. He refuses to sell his OPC car & bike as he figure it's much more cheaper for him in the long run. Question is can he refuse the car & take in cash instead? If can't then what other methods advisable for his situation.

 

Would appreciate constructive inputs please.

 

Thanks all

[Demon]

Question is can he refuse the car & take in cash instead? If can't then what other methods advisable for his situation.

 

from the organiser's point of view, definitely cannot because if the prize is stated as a car, then if you win, you take the car. Even if you want to settle for a lower sum in cash, the organiser cannot directly do that because the cash outlay will be difficult to account for.

 

one way is to ask if the organiser know of anyone who would like to buy over the car from you but you have to prepare to sell at big discount.

 

correct me, you would need to have a coe so that the prize can be registered under you name ?

 

you can check the authorised dealer of the brand of the car you won, the salesmen have all sort of tricks, but again, prepare to be squeezed.

[Rain1407]

Hi Demon. Yeah as what I've been asking around no one knows how to deal with this problem but 1 thing which is for sure, the car has to have a registered COE so the car will fall under his name. But for a 2L car the COE right now is ridiculously high! This person is having a big headache right now as all he wants is to get rid of the car but legally of course. I'll let the person know of ur suggestions though. Thanks!

[cougar]

Can take a credit line loan, buy the coe and sell off at a discount to interested buyers what? You still make from car costs, easily 40k and above, then you can quickly pay off the creditline in full, interest pay most probably 1-2 months while you selling the car.

[ohayo]

Maybe can talk to 2nd hand car dealer about this issue?

 

Maybe they can pay you the cash. Then you will pay out the car loan. Then do transfer ownership. Not too sure whether it will work

[biting_point]

just find a 2nd hand car dealer to sell off the car without buying COE..

 

My friend won the Subaru challenge few years back..

He sold the car at abt $10k below the retail price..

it's still a profit nevertheless..

[rezz_shaz]

just sell it off....car dealer or direct buyer will willingly take it off u're hand if u selling below market value....especially if u can prove that it's brand new. Even if the machine price is 60K and u sell it @ 50K....u actually gain 50K from nothing, but make sure transfer fee or whatever fee involved in the process is bourne by the buyer..

[YuaN_]

buy opc coe then can drive already =p

[Throttle]

Not sure if this has been raised before but genuinely need some advise.

 

PS: To all my family members & friends in this forum who knows who I'm reffering about, pls do not disclose the model of the car & anything related to the identity of the owner. Thank u for ur co-operation.

 

A person I know just won a 2Litre car (without COE) from somewhere. Problem is he already has a simple OPC car & a scooter & he does not need that new 2Litre car to add on his burden. He refuses to sell his OPC car & bike as he figure it's much more cheaper for him in the long run. Question is can he refuse the car & take in cash instead? If can't then what other methods advisable for his situation.

 

Would appreciate constructive inputs please.

 

Thanks all

 

Yes , especially if the organiser is the authorised dealer of the brand of car, they will be able to give cash instead.

However the sum will be substantially lesser.

 

If it is a good continental brand, I might consider to buy the car as a family car.

However, it will definitely be lesser than that actual selling price of the car, for reasons needless to mention.

PM me with the info if you wish.

 

Thanks

[Throttle]

TS, any reply?

 

you can PM me so that others wont know the model of the car.

[Rain1407]

So sorry fellas, was busy these few days. Didnt manage to logged in.

 

Maybe can talk to 2nd hand car dealer about this issue?

 

Maybe they can pay you the cash. Then you will pay out the car loan. Then do transfer ownership. Not too sure whether it will work

 

As what he told me most 2nd hand dealers that he approach won't readily pay in cash. They are still dependant on a buyer who will "take over" the car. I think it makes sense as even though I have a brand new car, why should a dealer take that car from me & give me cold hard cash while waiting for a buyer to make that god knows when purchase? I think the 2nd hand dealer will want to be the middle man in this case where he can earn something. Pls again correct me if I'm wrong.

 

He sold the car at abt $10k below the retail price..

it's still a profit nevertheless..

 

u actually gain 50K from nothing

 

I think to be honest that's what he wants too. Like I mentioned in the first post he does not need the 2L car.

 

Yes , especially if the organiser is the authorised dealer of the brand of car, they will be able to give cash instead.

However the sum will be substantially lesser

 

Unfortunately the organiser is not the authorised dealer. He has already approached the staff & they refused. Told him to approached any 2nd hand dealers instead. I asked him why not the direct dealer & he told me that he is waiting for their reply.

 

TS, any reply?

 

Yes sir already PMed u. Sorry for the late reply.

[Rain1407]

buy opc coe then can drive already =p

 

Sorry Yuan what do u mean by "OPC COE"?

[cougar]

Yes , especially if the organiser is the authorised dealer of the brand of car, they will be able to give cash instead.

However the sum will be substantially lesser.

 

If it is a good continental brand, I might consider to buy the car as a family car.

However, it will definitely be lesser than that actual selling price of the car, for reasons needless to mention.

PM me with the info if you wish.

 

Thanks

 

wow good deal coming, are you buying a brand new car as an exception this time? Its more expensive than a used car but cheaper than brand new.

[Throttle]

Am thinking of chgning to a more family oriented SUV like an X5 or ML350 or Cayenne.

[Dafanshu]

no point owning a 2L car when you only use it for work.. it is for want and not need.

[MT76]

Find a buyer via online first. Then go to a dealer? Will it makes things easier? With the high COE now, even showrooms are having difficulties pushing sales, so if you don't get a buyer anytime soon, it might just be that market not that good.

[Fredd]

give e car to me free..lighten ur burden

[Rain1407]

Hi everyone just to update u guys on what happen to the car:

 

Met him earlier today and after about a month or so he finally manages to get rid of the car thru a 2nd hand dealer who is willing to give out cash to him IF he is willing to sell it under retail price of 20K. He readily accepts the offer lah as like what some of u mention, he gains something out of nothing (which I will probably do the same too!). For me I'm not sure though why the 2nd hand dealer is willing to risk such offer especially during these weird COE period. Just curious though, in this case is the car still consider brand new or 2nd hand now?

[Thailia]

Hi everyone just to update u guys on what happen to the car:

 

Met him earlier today and after about a month or so he finally manages to get rid of the car thru a 2nd hand dealer who is willing to give out cash to him IF he is willing to sell it under retail price of 20K. He readily accepts the offer lah as like what some of u mention, he gains something out of nothing (which I will probably do the same too!). For me I'm not sure though why the 2nd hand dealer is willing to risk such offer especially during these weird COE period. Just curious though, in this case is the car still consider brand new or 2nd hand now?

 

Theoretically, its a consider a brand new car, but paper wise. it is a 2nd hand and will be sold as a second hand, but we do see dealers selling some cars stating "won from lucky draw, never been used before!" I do see that in sgcarmart occassionally. So its really depends whether any buyer just happened wanting to find a car of that model.

 

For me, if im the buyer, and if i have the intention to get a 2nd hand, and i saw this "brand new" that are selling below retail price lot more, i will buy it. But well, i doubt we can save alot, cos most of the "benefit" will be gained by the dealers.