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Everything posted by Quiet

  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
  14. You will need the ID copies directors who have signed the no objection and MTA 06
  15. If you have the removed sticker you can directly get from RMV. If not you need to apply with a police complaint entry to RMV
  16. Hi all, There was this Austin car that was owned by my Great Grandfather and then handed over long the generations to my Father. We fell in to hard times when my Father was down with cancer and had to dispose the vehicle. I am interested in finding the vehicle again and purchase it if possible, Any suggestions on how to locate the vehicle is much appreciated. Vehicle Number is EY-6304
  17. Can i have the contact no of this place pls. I have same sorta work to be done (Not that bad though)
  18. Any one has experience of General Tyre's. The dealer said they were from France and cost wise its 50K for 255/35 19.
  19. My car got locked from inside. Some how ignition switched off due to idle stop and my wife kept the key inside with my dog and gone inside to make the payment to the Vet. Dog has stepped on the lock button. Had to rush with the spare key. This was a 2019 Audi. So i don't think they are better
  20. Agents - Service cost somewhere between 25-40K @ every 10K. (They now charge even for cleaning clothes, Excuse given in Covid and clothes are neatly packed and handed back to you ) Break pads wear out somewhere around 25K and cost me 65K to replace. Also had a petrol leak. Cost me 5K for the repair and 38K for carrier charges ) Mind you the vehicle imported through a friend and serviced by Bosch and then at the Agents. My last two vehicles were a Vezel and a Mazda 06. The Audi maintenance cost is higher than both vehicles combined. So overall you need to have spare cash in hand and since yours is a used one be ready.
  21. The car is already transferred to my name and as i said earlier i will not be selling the vehicle any time before me owning it for six months. I do pay income tax as per returns filed by me but no i have not estimated the profit from vehicle sale because at that time my estimated income was from employment and deposit interest. so may be if and when i sell the vehicle, i may have to increase the tax payment during that quarter.
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