Unfair practice of used car dealer

Dear Mr. Tan
I signed a purchase agreement to buy a used vehicle from a large used car dealer whic his a subsidiary of a large motor distributor.


They were unable to attain a loan approval for the vehicle I have purchased. I wanted to to pay in cash but they refuse to complete the deal. No where in the agreement does it that states that there must be a successful loan for the purchase agreement to be valid. I have also paid a $500 deposit.


As they are so big, they don't even need to be under the CASETRUST-SVTA accreditation. In addition, CASE says that they can mediate and if the dealer does not honour the deal, there is nothing CASE can do about it.


Should a consumer back out from a deal, the dealer would sue the the buyer. However, when the dealer refuses to complete the deal, they get away with it. I have spent much time and effort going through many different cars, it doesn't feel good to be taken advantage of.
This is akin to a new car dealer that sells you a "GUARANTEED COE" new car, and just walks away when COE rises.


The dealer knows that a helpless consumer will not pursue their rights if they are being bullied as it costs too much money and time. They are a big company and have the financial clout and legal personnel to corner the consumer into submission.

Hopefully, you can get highlight this on your website and help prevent other consumers from being cornered and bullied by a large MNC.


JS