S1E8: How used car dealers make money; tips for selling your car

As it turns out, it is not from the mark-up on the car itself that pays the bulk of the bills for used car dealerships Synopsis: In this new podcast, The Straits Times offers expert insights if you are in the market for a new vehicle or are tracking transportation trends. Almost 60 per cent of those who sell their cars, are looking for another one. This means that the business of used cars will continue.  ST's senior transport correspondent Lee Nian Tjoe speaks with Mr Kuanyu Tan, the country manager of Carro, a used car dealership that buys and claims to sell 6,000 cars a year, to understand the business and what it means to the car buyer.  Highlights (click/tap above): 2:20 Where do used cars go? How do used car dealers get inventory financing? 6:10 Are used cars really more affordable than new cars? Price trends in relation to COE prices 17:36 Top two tips for car owners to get the best deal when selling their vehicles 20:48 How long is too long for a car dealer to hold on to their stock? 26:30 Carro's scheme to “test-own” electric vehicles in Singapore, to help educate consumers about EVs 29:40 Why used car dealers are not making offers for electric vehicles 32:26 The impact of the Lemon Law on used cars Produced by: Lee Nian Tjoe ([email protected]), Ernest Luis and Teo Tong Kai Edited by: Teo Tong Kai Follow COE Watch Podcast here: Channel: https://str.sg/iTtE Apple Podcasts: https://str.sg/iqW2 Spotify: https://str.sg/iqgB SPH Awedio app: https://www.awedio.sg/ Website: http://str.sg/stpodcasts Feedback to: [email protected] Read Lee Nian Tjoe's articles: https://str.sg/wt8G Follow Lee Nian Tjoe on LinkedIn: https://str.sg/iqkJ Read more COE articles: https://str.sg/iGKC --- Discover more ST podcast channels: In Your Opinion: https://str.sg/w7Qt Asian Insider: https://str.sg/JWa7 Health Check: https://str.sg/JWaN Green Pulse: https://str.sg/JWaf Your Money & Career: https://str.sg/wB2m ST Sports Talk: https://str.sg/JWRE #PopVultures: https://str.sg/JWad Music Lab: https://str.sg/w9TX Discover ST Podcasts: http://str.sg/stpodcasts --- Special edition series: True Crimes Of Asia (6 eps): https://str.sg/i44T The Unsolved Mysteries of South-east Asia (5 eps): https://str.sg/wuZ2 Invisible Asia (9 eps): https://str.sg/wuZn Stop Scams (10 eps): https://str.sg/wuZB Singapore's War On Covid (5 eps): https://str.sg/wuJa --- Follow our shows then, if you like short, practical podcasts! #coewatchSee omnystudio.com/listener for privacy information.