blackrider

Hi guys,

More than 2 months ago when I signed the purchase agreement with a PI dealer, I was told that my OMV is about $27k-$30k (yes, it's a bit low).

When I received my registration info from my dealer today, I was shocked to see my OMV at $25,958. How much rebate can I get back from my dealer? Is it dollar for dollar? I heard from my frd dat the rebate is 1:2 (1k lower in OMV = 2k rebate).

Thanks!

dru8999

Hey bro, mind if I ask what model is your ride? Cos if it's an 8, I think the OMV is really on the low side. Pardon if I am wrong. Perhaps, other owners here can list down their OMV for reference so that future buyers will know what to expect.

1. $45 520 (4- Spd Auto, Feb 04)
2.
3.


Pls cut n paste...

INXS

Hi dru8999,

Good idea so that new buyers wouldnt get shortchanged by unscrupulous PI MFs who loves to underdeclare. It will even benefit more to provide additional information to give a clearer understanding to what they are in for.

1. $45 520 (4 - Spd Auto, Feb 04)
2. $31 098 (4 - Spd Aut0, Mar 06) Cat E COE 13k, $92800 net $7.5k depreciation.
3.


Pls cut n paste...

blackrider

Erm guys, no1 has answered my question yet

dru8999

Hi INXS,

Long time never go for meet liow. Just contributing what I can. Maybe you can call it community service. Btw, long time never see u around place liow, u still wif the stripes?

INXS

Nope, old school design. Now im on poka dots.

Black rider, im not too sure whether u can get any refunds/rebate of sort. Cars are typically OMV x 2.4 + COE. Ask ur PI, only he has the answer.

Roulette

ya, the only rebate u have is the parf rebate, u dont usually get cash back from the dealer.

dealers under-declare the OMVs so as to pay less tax so as to earn more money from you.

However, if u had prior agreements with him, then just make sure he pays it. (hope it was written down)

sqflyer

Blackrider: Unfortunately, I believe Roulette is correct in saying that if you do not have a written agreement with the PI dealer on any refund/rebate for a lower OMV, you probably got jipped. Sadly, these are the risks of dealing with PIs.

blackrider

Some PIs underdeclare their OMV (which is illegal) to save on tax when the car is in the port. If caught, the cars will be stuck there at another 2-3 months until the tax n fine are paid. Some PIs were in the limelight n newspaper a few months back for this. They were of cos blacklisted too.

So what happens is when they get thru with the lower OMV, the PIs will usually rebate the customers. The question now is although my PI told me that they will not underdeclare the OMV, my OMV indeed is very low n lower than what was quoted to me. Either i bring this up to LTA which is very cumbersome for me or I just have to count myself bad luck n take the rebate from the PI.

The tax savings that the PI save i believe is 1k lower OMV = 2k lower tax.
Of cos they won't rebate the full 1:2 ratio to customer but i need to know what's the usual practice.

Btw, the average OMV for new RX8 is around the 30k - 32k+ region. Mine is only 25,958.

& oh yes, I've got it written in black n white (i'm those very kiasi type) about the rebate but 'cos he kept assuring me that it won't happen, i din really write down exactly how much he is going to rebate. So maybe i believe it will be 1:1

blackrider

Guess I really had a bad deal then

25,958 X 2.4 + 9,605 = 71,904

I paid 91388 ... i'm thinking of informing LTA now ... any1 can advise me what to do if u r in my shoes?

snowflake8888

My contribution...

1. $45 520 (4 - Spd Auto, Feb 04)
2. $31 098 (4 - Spd Aut0, Mar 06) Cat E COE 13k, $92800 net $7.5k depreciation.
3. $29 964 (4 -Spd Auto, May 06) Cat A COE 10k, $98800 cos I didnt buy from the sucky Hua Yang and I didnt take a cash rebate (for a specific reason)

blackrider

1. $45 520 (4 - Spd Auto, Feb 04)
2. $31 098 (4 - Spd Aut0, Mar 06) Cat E COE 13k, $92800 net $7.5k depreciation.
3. $29 964 (4 - Spd Auto, May 06) Cat A COE 10k, $98800
4. $25 958 (6 - Spd Auto, Dec 06) Cat A COE 9.6k, $91388 Confirm going to ask my PI to rebate me the difference of 2,500 (1,042 X 2.4) later!

Jimmy(wow)

Hi Guys, fyi my customer 6at omv is at $29k register on 3rd week dec.06 shipment in on 1st week dec. 06.

INXS

BlackRider,

With reference to Jimmy's price difference of 3k in both the OMVs, ie 29k vis 26k, they have shortchanged you $3k x 2.4 = $7.2k assuming selling @ the same price.

I hope you can get back the difference and buy us all HAPPY MEALs + toys. Good Luck!

Emperor

Its not always the case. Sometime some PIs get better OMVs; eg. PI Honda streams, mercs, etc.

1 or 2 years back, there was a major scandal when a major dristributor severely underdeclared OMVs and LTA cracked down on them, cannot remember which one though but its one who sold alot of cars.

sqflyer

I wasn't refering to PIs having a lower OMV than the main distributor. The 'lower OMV' was relative to what blackrider was told the OMV would have been.

blackrider

How much was the purchase price?

PayuntilBlue

Hey are you who I'm thinking you are bro? welcome man... hope your problem is over soon. Anyway, I just went to MG today....

Jimmy(wow)

$95,800 OTR.

blackrider

Eh, who's the guy in the pic lol. Bro, use an updated pic la. Juz saw a new white RX8 (plate 87) at PS today. Parked right next to him. So cool ... one white n one black

blackrider

It's works out to be about the same value IF I can get my rebate of $1,042 X 2.4