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Old 9th July 2008, 12:52 PM   #1 (permalink)
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Need advise for new car.

Hi, need some urgent advise here.
Friend's brother (taxi driver) just bought
a new Honda for one month but found that
driving point hv been deducted due to speeding(taxi!!!, i think nt too sure).
So driving license need to retake. What are the ways that can get rid of the new car?
Rent? Sell?

Any advise?

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Old 9th July 2008, 01:17 PM   #2 (permalink)
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Re: Need advise for new car.

driving demerit pts will reset every year. surely he can wait out this period by letting his family members use the car right? Just buy the car already then sell seems frivolous to me. Also the loss thru depreciation is tsk... tsk... how abt the car loan. Must think thru carefully first.

Then his taxi vocational license also kantong already?

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Old 9th July 2008, 10:36 PM   #3 (permalink)
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Re: Need advise for new car.

Need to retake or just need to wait out the year?

See if someone in the family can drive for the time being.

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Old 9th July 2008, 10:54 PM   #4 (permalink)
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Re: Need advise for new car.

need to retake. No family member to drive.
24points gone!!!

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Old 9th July 2008, 11:54 PM   #5 (permalink)
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Re: Need advise for new car.

quite jialat... hmmm but if you sell now sure luigi gao gao till jurong... zzz
i read abt long term lease arrangements with rental companies esp for individuals who have trouble servicing their instalments. I am not sure for one thing whether it's illegal.

What i am sure is that it might void your insurance cover if anything should happen to the car while on lease.

Worse come to worse, sell off asap to cut your losses cos having a car is a continuous financial liability....

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Old 10th July 2008, 09:12 PM   #6 (permalink)
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Re: Need advise for new car.

ya juz checked wif my hubby he said rent private car is illegal!!!

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Old 10th July 2008, 09:41 PM   #7 (permalink)
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Re: Need advise for new car.

Didn't you guys read the newspapers a couple of weeks back?

Renting your car to a rental company to be rented to 3rd party is illegal. There are strict guidelines to renting out private cars. Those caught will be fined and maybe jailed. Plus, if anything happen during the rental, it will not be covered by the insurance.

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Old 10th July 2008, 09:44 PM   #8 (permalink)
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Re: Need advise for new car.

u can rent out ur car privately... on ur own tat is.... but apply for the private car rental permit frm LTA first....

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Old 10th July 2008, 09:45 PM   #9 (permalink)
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Re: Need advise for new car.

Easiest way is to sell. And to cut costs fast, you gotta sell it much lower. Dun forget your carpark/road tax/etc...

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Old 10th July 2008, 11:26 PM   #10 (permalink)
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Re: Need advise for new car.

How much is he prepared to lose?

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Old 11th July 2008, 02:22 PM   #11 (permalink)
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Re: Need advise for new car.

a1bz, how much is he selling?

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Old 11th July 2008, 09:46 PM   #12 (permalink)
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Re: Need advise for new car.

tks, hv let friend know sell away is the best way.
Hv not hear from her then, will check wif her again
not sure what the brother's decision!!!

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Old 11th July 2008, 09:51 PM   #13 (permalink)
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Re: Need advise for new car.

Check with extended family first lah

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