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Quiet

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Quiet last won the day on August 15 2020

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    Mazda Familia 1998, Suzuki Swift beetle, Toyota Vitz 2009, Nissan N17 2008, Honda Vezel 2014, Mazda 6 2015, Audi A5

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  1. There is a bubble in the vehicle market. Finance institutions are funding people purchasing these vehicles at exorbitant prices. The debt burden on vehicle buyers are too high and down the line when vehicle prices drop they will stop paying. These institutions are already stretched with Moratorium contracts. I would forecast a high Non performing asset ratio come March 2022 when debt moratorium end so the entire finance industry is at risk at the moment. If one company fail there will be a run on the deposits. Bit too late by CBSL i guess for corrective action. Bunch of theorists who act as if they know everything but no practical action.
  2. I think there is a LTV cap coming on selected vehicle models, CBSL is collecting price and LTV data for last 03 years
  3. They have started collecting Vehicle values and maximum facility amounts granted for selected vehicles - Vitz, Wagon R etc with YOM 2015/16/117/18/19 from Banks and Finance companies, I think a price control on vehicles are on the way
  4. https://greasemonkey.lk/?s=stop+leak&post_type=product
  5. I would think they can sell the car at a inflated price now and get more profit
  6. Why not rent a ALTO or a older car temporarily. Would be the most cost effective option. No maintenance, Fuel cost only. Im also thinking of doing the same.
  7. If i were you, i would maintain my existing car well wait for prices to drop
  8. https://greasemonkey.lk/product/liqui-moly-marten-protection-spray-200ml-1515/ This worked wonders for me after two attacks. spray around the car every two weeks.
  9. One word - Over supply by 2023
  10. If you look hard you will find vehicles without open papers. I bought the E200 from the original first owner who has refused to sell under open papers for a month. Same goes with me. I sold all my cars with duly completed MTA 06 and copy sent to DMT. If they forge my signature that's a different story which i think is a common occurrence in all those open paper vehicles.
  11. One day transfer is not a hassle. I went two weeks back and got my long overdue transfer (With penalty of course). If you go with a prior appointment and if the documents are in order i handed over at 11.30 and collected sharp at 2.0. Best would be to put a small lease (May be 10% of vehicle value.) So that the leasing company and the seller will be liable for any illegal stuff whilst all tax issues etc will also automatically get settled. There will be a stamp duty cost.
  12. if you have any contacts visit the finance company yards. You can find some good deals. Although with present market conditions i would think that even yard-ed vehicles move out at faster pace.
  13. Since the leasing company has the absolute ownership no such letter is required. They will transfer the vehicle under their name and then sell through tender
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