Used car dealer under fire for credit problems
18 Feb 2015|5,379 views
A used car dealer, Cars Today, is under fire for selling cars, which could end up being repossessed. The dealer has received complaints from at least one buyer for delaying the transfer of ownerships.
More people are coming forward to lodge complaints about the company, which has been flagged by the Consumers Association of Singapore (Case) for not signing over the cars to buyers. This has left the vehicles vulnerable to repossession from credit company Kenso Leasing, to which Cars Today owes $1 million.
Speaking to The Straits Times, Cars Today's owner James Poh, 60, said his problems arose two weeks ago when Kenso suddenly demanded repayment within seven days.
Rosdi Yunus, 40, said he bought a car in October 2013 but is still not its official owner. The Customer Service Engineer added that the company kept giving excuses when asked about the transfer of ownership.
Mr. Rosdi said he woke up on Sunday to find Kenso had towed away his Mitsubishi Colt Plus, which had cost him $19,000.
The local papers understands that as many as 70 buyers may have trouble collecting their cars from the company.
Mr. Poh claimed Kenso said it would repossess 43 cars from his customers. Kenso Leasing was not available to comment on the issue.
The office of Cars Today, which is situated at 18 Kaki Bukit Road 3, has been vacated. A police report was found attached to its doors, stating that the space had been rented to a Mr. Allan Poh since mid-2012, but he had returned the shop keys on Sunday.
When contacted, Mr. Poh admitted Allan Poh was an alias, but declined to comment further, citing advice from his lawyer.
In 2008,The New Paper reported that Allan Poh of parallel importer Car Kingdom had vanished after leaving a client saddled with loans on a car he had traded in but never saw again.
A used car dealer, Cars Today, is under fire for selling cars, which could end up being repossessed. The dealer has received complaints from at least one buyer for delaying the transfer of ownerships.
More people are coming forward to lodge complaints about the company, which has been flagged by the Consumers Association of Singapore (Case) for not signing over the cars to buyers. This has left the vehicles vulnerable to repossession from credit company Kenso Leasing, to which Cars Today owes $1 million.
Speaking to The Straits Times, Cars Today's owner James Poh, 60, said his problems arose two weeks ago when Kenso suddenly demanded repayment within seven days.
Rosdi Yunus, 40, said he bought a car in October 2013 but is still not its official owner. The Customer Service Engineer added that the company kept giving excuses when asked about the transfer of ownership.
Mr. Rosdi said he woke up on Sunday to find Kenso had towed away his Mitsubishi Colt Plus, which had cost him $19,000.
The local papers understands that as many as 70 buyers may have trouble collecting their cars from the company.
Mr. Poh claimed Kenso said it would repossess 43 cars from his customers. Kenso Leasing was not available to comment on the issue.
The office of Cars Today, which is situated at 18 Kaki Bukit Road 3, has been vacated. A police report was found attached to its doors, stating that the space had been rented to a Mr. Allan Poh since mid-2012, but he had returned the shop keys on Sunday.
When contacted, Mr. Poh admitted Allan Poh was an alias, but declined to comment further, citing advice from his lawyer.
In 2008,The New Paper reported that Allan Poh of parallel importer Car Kingdom had vanished after leaving a client saddled with loans on a car he had traded in but never saw again.
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