Buying A Seized Car

[PreseaLover]

oh right thanks guys

[iRage]

1 hour ago, HaeylM said:

f you are in the market for tenders, look at embassy websites for their tenders too.

Be mindful about the duty payment status when you buy cars off of diplomats/expats with duty free priviledges, embassies, UN agencies. Most of the time the vehicles do not have duty paid and when a "normal" person buys it they will be liable to pay all the applicable import duties and taxes that were foregone when th car was originally purchased. In some cases the seller sorts out the necessary duties/taxes before the sale. 

*But yes....most of the time even after paying duty you still might get a car slightly cheaper than in the open market and for the most part will be properly maintained or at the very least honest.

**Expats with duty free priviledges: There are expats (for. eg. UN/JICA/etc...program/project officers/specialists) who have duty free priveledges to import a car; but do not have diplomatic status...so the car will have a normal registration number

*** duty to be paid : No idea what it is now...in the past it changed many times...at one point they kept using the depreciation table so if the car had been in the island for 10+ years you literally pay like 10% or less of the declared value of the car during import. and then at one point they stuck to the calculated duty value at the time of import (as expats/embassies/agencies when we file for the duty free excemption for the car we bring in, Customs calculates the duty cost so that MOFA and/or the MInistry the agency/person's project falls under can issue the necessary excemption letters)

 

Edited March 5, 2021 by iRage

[Quiet]

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.

[PreseaLover]

1 hour ago, Quiet said:

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.

i did.. apparently yard vehicles have higher prices than the normal vehicles advertised... crazy f**ks

[Sylvi]

Members,

I live in Colombo 03. There was a leading Finance company next to my home for many years, at present they are not in business, although they were one of the oldest company. I had met almost all people who do the seizing. Some are not very honest they never return the car next day to the company they remove what ever removable mostly all tires in very quick time. Mostly they tow the car to the finance company yard.

When new buyer buys he signs papers the car as it is condition.  So after you cannot claim any thing from the finance company. Above what I said happens to mostly to older vehicles, You are buying a vehicle unknown without any guarantee, therefore be prepared to put it to your required stranded with whatever costs comes later.

If the vehicle is few years old and it is a daily runner, first of all try to find who is the previous owner get some information of him, try to find a close associate of him then you will know the condition before. IF the owner is a honorable person , vehicle had been seized due to some difficulty of his financial status, he had been using to the last day then vehicle will be a good selection.

You may get small financial beneficent still the previous owner will curse to the financial company.

I had a friend who used to go to all Bank auctions and bought pawned Gold Jewellery. He later had a miserable life.

Sylvester Wijesinghe

Sylvi.

[PreseaLover]

55 minutes ago, Sylvi said:

Members,

I live in Colombo 03. There was a leading Finance company next to my home for many years, at present they are not in business, although they were one of the oldest company. I had met almost all people who do the seizing. Some are not very honest they never return the car next day to the company they remove what ever removable mostly all tires in very quick time. Mostly they tow the car to the finance company yard.

When new buyer buys he signs papers the car as it is condition.  So after you cannot claim any thing from the finance company. Above what I said happens to mostly to older vehicles, You are buying a vehicle unknown without any guarantee, therefore be prepared to put it to your required stranded with whatever costs comes later.

If the vehicle is few years old and it is a daily runner, first of all try to find who is the previous owner get some information of him, try to find a close associate of him then you will know the condition before. IF the owner is a honorable person , vehicle had been seized due to some difficulty of his financial status, he had been using to the last day then vehicle will be a good selection.

You may get small financial beneficent still the previous owner will curse to the financial company.

I had a friend who used to go to all Bank auctions and bought pawned Gold Jewellery. He later had a miserable life.

Sylvester Wijesinghe

Sylvi.

oh no im afraid of curses.. I'm staying out of auction vehicles then 

[mazdaspeed]

Perhaps that may be an good idea all together  -Some may say it's old gamme katha and stuff but I too feel the same way - Specially if the previous owner actually loved the car and due to some unfortunate  scenario had to lose it to the Finance company - and he see you driving it ............ well u get the point .

I've seen my  Hatch  been driven by a young chap - and that actually made me feel happy he was looking after her - sentimental and silly - yes 😜

 

 

[Kavvz]

On 3/9/2021 at 6:56 PM, Sylvi said:

Members,

I live in Colombo 03. There was a leading Finance company next to my home for many years, at present they are not in business, although they were one of the oldest company. I had met almost all people who do the seizing. Some are not very honest they never return the car next day to the company they remove what ever removable mostly all tires in very quick time. Mostly they tow the car to the finance company yard.

When new buyer buys he signs papers the car as it is condition.  So after you cannot claim any thing from the finance company. Above what I said happens to mostly to older vehicles, You are buying a vehicle unknown without any guarantee, therefore be prepared to put it to your required stranded with whatever costs comes later.

If the vehicle is few years old and it is a daily runner, first of all try to find who is the previous owner get some information of him, try to find a close associate of him then you will know the condition before. IF the owner is a honorable person , vehicle had been seized due to some difficulty of his financial status, he had been using to the last day then vehicle will be a good selection.

You may get small financial beneficent still the previous owner will curse to the financial company.

I had a friend who used to go to all Bank auctions and bought pawned Gold Jewellery. He later had a miserable life.

Sylvester Wijesinghe

Sylvi.

I don't believe that: For look at all the politicians kids running around leading lovely lives?  

[PreseaLover]

On 3/13/2021 at 1:50 AM, Kavvz said:

I don't believe that: For look at all the politicians kids running around leading lovely lives?  

their time will come one day.

[Kavvz]

3 hours ago, PreseaLover said:

their time will come one day.

I think that's something we just tell ourselves so we feel better about the fact that they drive Lamborghini's while we can't even afford a new KIA  😑 !! 

NOBODY likes feeling as if they got cheated, and I feel this is a way we self-comfort ourselves  when we see 'hard working' politicians kids spend money like celebrities.

But in reality, their time never comes, other than when its time to go buy another supercar from Daddy's hard earned money a.k.a pilfered money stash 😆 !!

Edited March 14, 2021 by Kavvz

[Hyaenidae]

1 hour ago, Kavvz said:

I think that's something we just tell ourselves so we feel better

Not having a politician for a parent is enough consolation for me 😅

[MaleCortana]

On 3/11/2021 at 6:02 AM, mazdaspeed said:

I've seen my  Hatch  been driven by a young chap - and that actually made me feel happy he was looking after her - sentimental and silly - yes 😜

I don't think its silly, I recently met the Starlet owner and explained to him all the issues with it and asked him to get it checked. He's not too worried since his 4EFTE swapping it. And I'm genuinely happy for the car without it being tossed around open book or changing hands. 

I think this quote summarized what I felt about the car:

"I still want it to eat, just not at my table"

[Danushka Nilani]

Yes