Buying RX8 from PIs
 

Hi,

Need some advises from the Bros out there who have bought their RX8 or any cars from PIs.
My agent just told me that I have to pay some additionals on top of the agreed price in the sales agreement.
1% - Tax (not sure what Tax though)
0.2% - Commission for Agent
0.8% - Bank charges for loan processing

Since this is my 1st time buying a car from a PI, i am not sure if all these are standard charges or something out of the norm.

Please advise.

I believe we bought from the same place - Fabulous isnt it? I just called them after seeing your email. I was told that i just need to pay an additional $600 admin charge - definitely a lot less than that 2% quoted to you.

Bro, I bought mine from PI in Oct this year. Did not encounter this at all. I have not heard that this is a norm. Some questions:

1) Are the additional payments reflected in the sales agreement (ie. are you contractually bound to pay?)
If yes - then you don't have much of a choice there (the agent should have highlighted to you though and you should have read it before signing)
If no - then you should push back in reference to the sales agreement (be prepared though that they may play punk and make the rest of the sales process painful for you - example: delay delivery, etc)

2) Have you asked the agent to define the additional charges clearly?
Tax - he must tell you what the hell this is for.
Commission for agent - this is usually already included in the sales price and the agent gets the commission direct from the company. Why do you need to pay for this separately?
Bank charges - same as above, this should already have been costed into the final agreed price. Why do you need to pay this separately?

3) Have you spoken directly to the company? ie. the boss?
- Did the agent ask you to pay him directly? (ie. make the cheque out to his name?) If yes, then something is suspiciously wrong. If no, ask the boss to clarify.

Hope this helps..

actually why should there be bank charges? i would have thought banks would be happy to get your business - they are earning interest off us afterall...

i contacted this company last month to help me with my car purchase direct from a seller (by helping to apply for bank loans and car transfer). Apparently i need not pay for their service - when i take a loan, they get paid a commission from the banks

Since the agent is already getting commissions from the bank, why are you still paying him / her?

NO

when i bought my 8 with my PI, the price quoted is nett nett. no more hidden charges or watsoever.

if you have not signed the agreement, ask your PI to go fly kite.

tell us more details if you need more help...

Something is obviously dodgy with the agent.. like Veilside mentioned, give us more details and let us know if we can help further..

yea. no such things as additional tax or watsoever. if have, tell him he have to pay u 15% tax for coming down to see him just to sign the papers and everything.

Those are certainly not the standard charges. The price is always Nett and include all fees and charges (unless otherwise stated on the S&P agreement).

Get them to put down on paper that they want 1% for tax. Then report police as it is a crime to impose false taxes...

hmmm... just got mine 3 weeks ago same as the other brought at the nett price... plus some throw in items like car alarm reverse sensor extra rx8 car mat so instead of 4 car mat i got 8... so something is fishy abt the dealer... better be careful....as my bro brought from another dealer nearly got cheated by the loan...

Sorry to hear about your experience. Got my ride from a PI too but the experience was more positive. All businesses at the end of the day seek to earn profit and cut corners (e.g. give you cheapo accessories), but all I agree with what the rest of the peeps have already said - this should have been included in the nett price. All the additional top-ups reek of unscrupulous business practices.

That said, I was not too satisfied with their company policy on getting me to commit to an insurance policy before the car was even registered, and shot an email direct to the company's MD, which had the staff scrambling. No further problems after that, turned out to be a miscommunication, and they even threw in a discount on the insurance as a gesture of goodwill. You might want to do the same...start not by complaining but seeking clarification about their company policy and about the additional payments, do your homework, and then bang table if you do find out that they're trying to pull a fast one on you - their reputation will be at stake and chances are they will try to rectify matters.

I'm assuming you've already signed the sales contract. You'll need to get clarification and settle the above issue...then, for everything else that follows, get them to spell clearly in black and white. If they're throwing in accessories, get them to put it down in writing what exactly they're giving you, and exercise your right as a consumer to inspect the items beforehand. They can always rewrite the contract...its not cast in stone. My PI dealer did that on their own after they forgot to put in some things down.

Last but not least, be careful even when things are spelled out in black and white. It can become a word game. E.g. parts covered by the warranty stated in black and white can mean nothing when everything is at their sole discretion.

Hope this helps.

Hi All,

Thanks for the overwhelming response.
I have spoken to the SA in detail and everything is settled now.
It will be nett price as what I have agreed to in the Sales Agreement.
The only additional I have top up is for the insurance.

Once again, thks for the tips.
Buying cars from PI is certainly not the same as buying from a authorized dealer
As long as I have not received the car yet, my nerves are constantly on the edges.

The problem is that PIs do not have a standard mode of operations and certainly some black sheeps have given PIs a bad reputation. But of course, there are still some good sheeps around.

Yesterday, I have also received news that my COE bid is successful.
Although it is slight lesser than what I expected (12K), I am glad at least it is now out of the way and one thing less to worry about.

The PI agent also called to inform that I might be getting my ride before the year is out. Until then, I am still keeping my fingers crossed from anymore surprises.

thks

Hi Carbuyer,

I am not sure what you have agreed to in the Sales Agreement or what are the details between you and your Sales Agent. But as I mentioned in previous post, I do not have to pay anything more other than what I signed and agree in the Sales Agreement.

I have also check with a few other PIs and friends alike that there are no such things as Tax, Bank Processing or Commission charges even in the PI environment.
If the Sales Agent tells you their policies have something like that, then it is something out of the norm.

Again, it alls boils down to what you have signed and agreed to in the Sales Agreement and with your Agent.

thks

Hi rhudayar, glad to hear you've settled the issue amicably with your PI. Don't forget to get them to rebate you on the COE since prices fell!

Happy to hear that things worked out for you! Hope you get your ride soon! In the meantime, happy waiting!