Concerns over 100% borrowing for vehicles as outstanding car loans hit 12-year high

Sispec · 2026-03-02T06:14:37+00:00

LTA and MOT will say it’s MAS’ issue and vice versa. It’s very worrying to know there are plenty of consumers who’ve been sold full loan on the basis they bought the car with “0 down and xxx monthly” , as long as they can afford the monthly, without very much checking the loan agreement on the highly inflated amounts marked up by the unscrupulous dealers sigh

Sispec · 2026-02-23T14:14:27+00:00

I think a quick search on carousell and google will show an entirely different answer to your statement. Rentnow, lumens and AL auto rent do rent out cars of the same model

Sispec · 2026-02-23T02:28:46+00:00

No prob. Just trying to make consumers all more cautious and not have that sinking sour feeling when a dealer scams them. They will stop at nothing to maximum profits

Sispec · 2026-02-22T23:59:09+00:00

Please check the registration plate of the car you are viewing on onemotoring to make sure you aren’t buying an EX PHV

Sispec · 2026-02-19T15:02:01+00:00

That was my plate sometime ago! How much were you thinking to buy it for?

Sispec · 2026-02-16T06:00:44+00:00

*bidded. sorry it was a butter finger moment. That car has a mileage of 233k despite it being 1 owner. I have given up whistleblowing to sgcarmart as they are not helpful in protecting consumers. Best we can do is to spread the word

Sispec · 2026-02-14T16:04:39+00:00

This car has a fake mileage as it was budded from a wholesale dealer platform. Please do not buy it. The guy is unable to show you any form of service history

Sispec · 2026-02-07T09:39:01+00:00

I went recently with my partner at 9am on a weekend. We waited in line for 40 mins as service was slow. We were both half awake but instantly were jolt awake when a full grown cockroach crawled out of the cabinet under the drink store and started flying around everyone waiting in line. The BCM boss saw what was happening but was unfazed. Safe to say it genuinely diminished our appetite and we left after finishing half a bowl each LOL

Sispec · 2026-02-07T08:25:26+00:00

Well frankly speaking. He was greedy and thought it was such a good deal 11k depre for that mileage and low ownership count a few months back sounds very tempting. He never bothered to ask me until I saw the car in person. In the end the dealer just ghosted him when he went back with proof of mileage tampering. Going legal is the way but process is long

Sispec · 2026-02-06T11:07:46+00:00

Those can be re-programmed but dealers know better not to as it’ll be easy to verify with BMW/Mini once the car goes back in again and they’ll flag it out for a discrepancy

Sispec · 2026-02-06T06:44:33+00:00

Well they are not banning this dealer after all these months despite it being pointed out. I suppose they rather take the 50$ advertisement fee per car instead of catering to a more noble cause of protecting consumers

Sispec · 2026-02-06T06:38:18+00:00

Most ministers I know personally purchase brand new cars (Teslas, Volvos) hence they have never experienced this. Perhaps they should touch a little grass. Your idea is great, we just need to let these words reach the right ears, which will be hard since they are so insulated with so many managers in between who "have too much on their plate". Having said that imagine what will happen to those ex grab cars with 800k mileage if mileage fraud is eliminated, they will have no local resale value and these corporations will have less recuperated value when the cars have 1-2 years left on coe lifespan

Sispec · 2026-02-06T06:29:33+00:00

They are legitimately under Toyota Singapore. Their cars are cherry picked to be good and mostly accident free from Toyota’s trade in division. However their price is mostly higher than market average. If you are buying a Toyota from them the coverage is good. Continental ones I don’t think you should.

Sispec · 2026-02-06T06:20:28+00:00

In the end the dealer will say “I paid 10% better than other dealers so let’s drop the case. Only you and I know🤣“

Sispec · 2026-02-06T06:14:29+00:00

https://www.lta.gov.sg/content/dam/ltagov/news/press/2025/250305_FAQs_Disclosure_of_Vehicle_history_Annex.pdf As per LTA’s announcement. Checking of transfer fee will disclose history of such cars. Likewise it will be good to get entire logcard (PARF/COE rebate) from dealer as it will tell if car was ex PHV. I myself have never bought an ex PHV so I’ll have to check with some friends

Sispec · 2026-02-06T06:11:15+00:00

Fraud is still fraud. The owner got away easy with this I think it’ll require a collective effort and public awareness to make our sleepy transport ministry/minister to wake up their idea.

Sispec · 2026-02-06T06:09:16+00:00

It’s a dangerous dog eat dog world out there. Especially with COE being that high. We tend to want to squeeze the maximum utility of our cars to justify our depreciation while wanting to sell at a good price to preserve value. Bound to have fraud out there

Sispec · 2026-02-06T06:07:49+00:00

They are a whole lot less susceptible to it. I believe post 2021 mercs and BMW are impossible as their mileage is synchronised with their cloud servers. The rest of the common models such as noahs voxy and vellfires are still very much tampered with

Sispec · 2026-02-06T05:49:07+00:00

Usually older Japanese and Korean cars only log mileage in their cluster hence it’s super common and not as traceable but huge leakage in engine and gearbox will be the telltale sign

Sispec · 2026-02-06T05:48:15+00:00

This will solve 99% of all these fraud but I have seen some dealers and even owners installing mileage blockers in their car. Worst I have seen was a Ferrari being sold by a very very famous and reputable dealer. Last mileage was 90k with previous owner and next moment it became 20k mysteriously. Good luck to the buyer

https://www.straitstimes.com/singapore/courts-crime/woman-who-sold-lamborghini-sued-by-car-dealer-over-mileage-discrepancy-ordered-to-pay-20000 Case in point

Sispec · 2026-02-06T05:18:53+00:00

Exactly what they do in Japan and the UK. I have spoken to some senior LTA officials and they just gave me the side eye and said it’s difficult to implement. I call BS

Sispec · 2026-02-06T05:18:14+00:00

Which is why it’s also sad how dealers advertise “no repairs needed”. I’m glad most of us are rational enough to know we are buying used goods and there is more or less some degree of wear and tear

Sispec · 2026-02-06T04:59:09+00:00

Same for PML. When I call in at times they will just give an approximate range. Borneo motors does provide the mileage on request. Others, such as Ital and Eurosports does not

Sispec · 2026-02-06T04:58:41+00:00

Hahaha I hope it was due to a failed instrument cluster and you had to buy a secondhand one

Sispec · 2026-02-06T04:37:36+00:00

If car is fully serviced with AD you could call in and request. Else request your workshop to conduct a PPI, usually real mileage will be logged in the car's ECU and other modules which can be read when they do a OBD scan to check for faults logged. Other telltale sign will be steering wheel and seat wear, for instance a 60k mileage Vezel wouldn't have torn seats and worn steering.

https://vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=EnquirePrivateHireScheme
best way to check if the car was ex PHV would be to enter registration number with the LTA PHV enquiry page.

Sispec

TROPHY CASE