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Is Consignment For You? feat. Car Buyers Club | Backseat Driver | sgCarMart Reviews - YouTube
Channel: Sgcarmart
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Hello and welcome to another episode of Backseat Driver
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Today we are at somewhere new
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Yes and I wished that this was our studio
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Sorry no budget
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Unfortunately
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This place actually belongs to Car Buyers Club
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and today we're doing a video in collaboration with Car Buyers Club
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Car Buyers Club is a consignment dealer
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and today we're talking about whether consignment is for you or not
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Let me begin with my own experiences
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selling my very first car
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I had zero experience, my focus then was just to
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buy the new car, the new car was shiny and everything
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I cared only about the new car so when I went to the authorised dealer
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I only though that, "Oh just trade-in the car"
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I knew that people were selling cars on their own
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on other platforms in other ways but
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to me trade-in was the most fuss-free convenient thing
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that I didn't need to deal with anything else except sign some papers
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at the authorised dealer when I bought my new car
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It was only after starting at sgCarMart
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starting work here, talking to you guys, and other people In the industry
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that I realised that actually selling cars
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other than trading in may get you even more money for your car
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I completely agree actually, what do you think Idris?
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I completely agree, the point where you said that. you can get more money
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there are other ways to sell your car not just trading in but of course
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trading in probably one of the most fuss-free
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but that said I would probably just sell the car myself
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Right there are various platforms you can advertise to sell the car yourself
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to a direct buyer, you are a direct seller, selling to a direct buyer
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sgCarMart is one of them of course
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It's fuss-free, you can probably get more money out of it no
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I mean and the paperwork is quite straightforward as well
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Yes the paperwork is straightforward if your buyer is straightforward as well
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If the buyer has some issues applying loans
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and you decide to help him with the application
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or he applies it himself and he mixes up some details
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he won't get the loan and you are stuck with your car
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especially if you have another car coming along the way
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For you I'm pretty sure you just drove into the dealer and took your new car
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and that was that right
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Said bye-bye to my car
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That's the fuss-free experience of it all but the value
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I think it's quite different, I always believe in direct selling because
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you probably can get more money out of it, can reap more stuff
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I used to like direct selling because the paperwork
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is something I can do and understand also but right now
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I actually like consigning my cars because it's pretty easy
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But is it as fuss free, do you get as much money out of it?
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It is quite fuss free because the thing is you can meet the price that you want
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but usually consignment dealers they take a percentage out of it
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which is fine compared to how much you lose when you trade-in your car
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and there is that convenience because they can grab the car for you
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or you can wait somewhere and do it for you that kind of stuff
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So when consignment dealers I think a lot of people have a very bad image about it
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everyone does because this fella will call
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"Eh you want to consign your car?"
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you end up at like Kallang Mcdonalds with your car in the hot sun
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I actually had a bad experience when I wanted to sell my Austin Mini
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a consignment dealer called me and said
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"Oh I noticed that you've been trying to sell your car online yourself"
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"Do you want to consign?"
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I said okay do whatever you have to do but
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nothing happened
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and I don't I asked for a very high price but just nothing happened
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there just wasn't any updates
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but if you sell your car yourself you can actually do it
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you will have people texting you, can I do this, can I do that so
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I'm a bit skeptical about the whole consignment thing
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but okay let me stop you there, when people text you and
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ask you to meet up and they lowball you, aren't you
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isn't that a headache that you have to deal with these people yourself
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Not really, I feel happy, I feel happy that people are actually looking at my car
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and they are potential interested buyers
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His Austin Mini was the one which the aircon didn't work sometimes
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It was a temperamental vintage car
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They all work but they don't work altogether
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When I turn on the aircon and I drive it will get overheated, it will overheat so
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So when you meet buyers you have to explain this over and over again
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I mean it is a very cool car
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so the type of buyers interested in the car are probably enthusiasts
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Why I don't want to go down the direct selling route myself is
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I don't want to have to deal with strangers
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I don't have to deal with the 10,000 messages that come in when I list it myself
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and then I hope I don't have to deal with no-shows as well
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like, "Bro okay set price" then we go meet
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and then they don't turn up
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A lot of people will say, "Bro offer price"
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why not you view my car first and then you offer a price
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how do you know the condition of the car
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but for consignment like Car Buyers Club will I have to deal with
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No you don't have to I mean consignment dealers that's the beauty of it right
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You can meet the price that you want if you are a direct seller
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or you can agree to a price with the consignment dealer
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the consignment dealer will work towards that price
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you don't have to deal with people, you don't have to deal with the paperwork
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the paperwork is the killer for people I think that's the most daunting thing for most
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That's understandable
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So you mean the consignment dealer will do all the liasing with the people
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Yeah pretty much and for example Car Buyers Club what I really like here is that
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you can drive the car in and then you can chill at the lounge
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instead of sitting in the carpark which usually
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with no aircon
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Yeah with no aircon and this is like you're sitting at a cafe for two hours
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because the idea is that it is a service after all
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if you are technically paying for it,
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the consignment dealer should be organising the meet and all that
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but the thing is it is not really very chill when it comes to consignment usually
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you're sweating in the hot sun, you have to plan something
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and have to wait for 2-3 hours without a car
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and for me I actually do need the car you know
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whereas Car Buyers Club you have the lounge, you can chill
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The lounge here, we'll show you some b-rolls of this place
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but actually what I thought was wouldn't it be easier
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if you just pass the car to the consignment and you know what just sell it
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Yeah you can do it here also, you can leave the car here
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because they have a showroom downstairs and do have used cars also
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so you can leave your car here if you don't actually need it
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it's much easier for people to view your car and it's a very nice showroom so
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the ambience and feeling of buying a car is there
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No but because I prefer, you know how I'm always
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more for direct selling right, I'm more comfortable that way
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so I'm not too sure about the whole consignment dealer thing, correct me if I'm wrong
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Do all of them have showrooms like this?
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No actually a lot of them don't have showrooms they just work
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a lot of them are just offices and they just work around Singapore
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they are always going. around Singapore picking up cars
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and letting prospective buyers view the cars
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Oh so that's why you say you were at like Kallang Mcdonalds
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Yes that's the thing, but there is a convenience to that
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for example let's say I'm at home and the consignment dealer picks up my car
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and settles the viewings and stuff like that
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I think that's really convenient which Car Buyers Club also can do
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Wait let me stop you right there, you're saying that the consignment dealer
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will come to you to pick up your car and then drive to a potential buyer
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Okay so what's the insurance like, I mean he is taking your car
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Yeah so that's the other thing, some consignment dealers don't have trade insurance
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an actual thing when it comes to the car trade
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Yeah yeah
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where the staff of the company can drive the car and be insured
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so Car Buyers Club does have it, I know of a few other consignment dealers
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but not many, not many have trade insurance because
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you know technically anyone can do consignment
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but you don't have that professionalism when it comes to it so when you
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do consignment I guess that's the reason why a lot of people have this
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negative perception of consignment dealers and people who do consignment
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but Car Buyers Club is doing properly I feel
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There's another thing now that you've talked about the whole Car Buyers Club thing
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I'm just wondering I mean
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You said went to Kallang Mcdonalds and all that kind of stuff
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and you had to wait at a cafe and all that kind of stuff
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What is the worst case scenario when you consign your car
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worse case scenario you go there two hours and it's just wasted
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you don't get to sell your car there's always that possibility right
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There's always that possibility of course but it's the same for direct selling
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if you want to get the best value for your car you have to you know
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there's a bit of time and all that but if you have people who are actually working
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to sell your car they have their own network also
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they are going to push your car out
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I guess
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In many ways it is easier, I was like you I used to direct sell my cars
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so much easier and I take all the money
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No because I trust myself you see, I feel like I trust myself
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If someone is doing it properly and they are saying that they have connections
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to do loans for their prospective buyers then it makes my job so much easier
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Let me just clarify this
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If I want to sell my car now and I go to Car Buyers Club and say
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"I want $80,000"
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I pay nothing, and they sell my car, and I get the full $80,000
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If someone actually buys your car at $80,000 which I think someone will
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So how do I settle my loan, my outstanding loan
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Of course Car Buyers Club will be able or rather all consignment agents and dealers
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will have to settle the loan if not they cannot transfer the car you see
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So that is common practice
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So they do the paperwork, I just sit down and enjoy my espresso?
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Yeah, so when you are a direct seller the situation is usually that
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"Okay bro I apply the loan already," and then after
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the cheque is given to you then you transfer the car right?
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Yes
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but because they are a dealer they are able to pay off the car stuff like that
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and then you can take the car
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Right
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because after all they are a dealer it is just that
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how they do things is that they can consign your car
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I'm skeptical man skeptical I mean
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you don't get free service, nothing is free no
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Nothing is free and they do take some commision from that
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I mean the buyer also is charged an admin fee which is standard
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which is a standard thing across yeah but
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that's how it works, in general, consignment the fees are quite low if you ask me
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compared to losing $20,000 off your car when you trade-in
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that's the kind of numbers you are saving
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I lost $20,000?!
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I'm pretty sure you lost $20,000
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You lost $20,000?
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Paper plus one, your car left one year
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It's painful
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I'm sorry man I'm sorry for your loss
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You should've joined sgCarMart before you sold off your car
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i'm genuinely asking because I'm thinking of selling my car
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You know there are good days and bad days
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when you are caught in a jam in a manual car you get frustrated from time to time
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if i wanted t buy a car from Car Buyers Club
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I will have warranty?
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You can buy warranty, there is an option of third party warranty
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which not many people have when it comes to consignment dealers
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Yeah this I haven't heard of
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Yeah because consignment dealers we usually meet at coffee shop
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"Bro you sign here"
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I though they are just the third party middlemen
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this feels like a proper car dealer
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and they are of course they do have used cars on sale
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I can pretty much trust someone who have trade insurance
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and they are moving my car about and they are going to help me sell my car
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So let's just say I want to buy a car from Car Buyers Club
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I found a car price is fine it's perfect
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Can I test drive the car?
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Yeah you can that's the good thing about Car Buyers Club
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as a buyer you can test drive a car because they do have trade insurance
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not many consignment dealers have that
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You were mentioning that
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but of course if I'm a seller and I don't want anyone to test drive my car
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I can say that also
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Then you're not going to sell your car right?
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No the thing is if you want to sell your car the car has to look good right so
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Car Buyers Club actually sort of cleans up your car
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vacuums it, washes it if necessary
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so they can have nice photos of your car, insta-worthy
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It's actually very important you know
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Do they sanitise the car, especially now
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Of course they do sanitise the car
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when they take the car handover from you
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if you never do that you will get in trouble
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you will get fined
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At the same time if your car needs work on it
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let's say you need to repair certain things, touch up certain things
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Car Buyers Club can do it as a seller so that's a good thing
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So you mean they will fix your car for free?
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No who will fix your car for free, if there are issues you should fix your car yourself
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before you sell it right if not the buyer buy a broken car
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that's terrible, that's evil
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You should fix the car and sell it in good condition
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After all you should be driving a car in good condition because it is safer
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Of course
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but the thing is if you are a direct owner
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you have to fix it yourself if you go to a workshop you are charged a customer rate
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but the thing is car dealers are able to get preferential rates from workshops
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because they have so many cars and they are making sure the cars are looking good
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and feeling good and driving good
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so that the next buyer doesn't have to worry about that
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The thing is because they can get preferential rates for that
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you are charged at that preferential rates, you are getting a car fixed at a good price
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so I think that's a good point of having a dealer handle your car for you
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I feel there's really no loss when you go for consignment and the thing is
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you are not charged a fee when you let Car Buyers Club sell the car for you
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they make your car look good, they have preferential rates for detailing also
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so if they park the car here and shoot the photos for you
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it's going to look good
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it's very important your car has to look good in the photos
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Well I think my car looks good I take care of my car
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You think
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This guy tough
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tough love. that's what it is
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A big thank you to Car Buyers Club today for letting us use
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their very beautiful lounge space which they actually use
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for their buyers and sellers to meet and get their car sold
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So if you are planning to sell your car
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do consider Car Buyers Club, they do consignments
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and actually they do take in some cars so
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please give them a visit they will take nice insta-worthy photos of your cars
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so that it has the best chance to get sold at the price that you want
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In the meantime stay safe, be well, ciao!
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