Have You Been Cheated? Post Your Experience Here!

[isam]

Yes These parasites sniff their way through paper classified early morning. Some of them even get the details before papers printed through contacts in the papers. So the best way is to go to offices of the papers on Friday or Saturday and get the details of the good cars before they publish them. How ridiculous!!!!

Parasites are all over the society! Funny part is they call themselves businessman and lead more exuberant lives than people, who really work and live honestly. Disgusting!

Sadly this is becoming a way of life in Sri Lanka. Ten people work hard and earn money... 100 are waiting to steal from them... very poor value addition drives the country down the drain...

[Watchman]

Sir,

In Vehicle business Reversing Speedometer mileage Repairing condemned vehicles importing Vehicles in cut export as parts them here in two three shipments with different importers names and Weld get some accident Vehicle Chassis number re stamped engine re stamped to the Accident Vehicles Specifications.

These are very common after free era came in 1978 all above are done with the help of Authorities concern with big money and big timers.

Wijesinghe.

Why do you have to go ruin every useful thread by stating things that we all know?

Btw i am curious on how you reverse a speedometer

[KLM]

Ok, this might be an unpopular view, but if the 'market price' of a car is say 2.0 million and a seller/trader/broker quotes you 2.7 million, isn't he well within his rights to do that?

I agree that lying about prior accidents/repairs/maintenance/reversing speedometer mileage or misleading a buyer is completely unacceptable but if an individual values his goods/services above the market rate I think that is his prerogative. It is then the responsibility of the buyer to do his or her own homework, assess what is at sale and put his/her own valuation on the table. In the end market forces will bring the average price down to a certain level but in the rare case where a seller quotes a high amount and wins (for whatever reason), I don't think that person has done anything wrong. If a buyer trusts a seller's price at face value and buys it, there is no way that the seller can be caller a cheater later. He quoted a price and somebody bought it and its as simple as that, however over-priced it was.

Of course, if a friend does that to you then there is something wrong somewhere, but I hardly think its fair to say that somebody cheated you because you bought a car at 25% above the market price. Thoughts, guys?

[Supra_Natural]

Ok, this might be an unpopular view, but if the 'market price' of a car is say 2.0 million and a seller/trader/broker quotes you 2.7 million, isn't he well within his rights to do that?

I agree that lying about prior accidents/repairs/maintenance/reversing speedometer mileage or misleading a buyer is completely unacceptable but if an individual values his goods/services above the market rate I think that is his prerogative. It is then the responsibility of the buyer to do his or her own homework, assess what is at sale and put his/her own valuation on the table. In the end market forces will bring the average price down to a certain level but in the rare case where a seller quotes a high amount and wins (for whatever reason), I don't think that person has done anything wrong. If a buyer trusts a seller's price at face value and buys it, there is no way that the seller can be caller a cheater later. He quoted a price and somebody bought it and its as simple as that, however over-priced it was.

Of course, if a friend does that to you then there is something wrong somewhere, but I hardly think its fair to say that somebody cheated you because you bought a car at 25% above the market price. Thoughts, guys?

Good point actually, A broker or seller is at the end of the day running a business so whatever they charge on top is, as you say, what they consider their service to be worth. If the buyer doesnt like it, they always have the option of looking at another car.

[kaushama]

Ok, this might be an unpopular view, but if the 'market price' of a car is say 2.0 million and a seller/trader/broker quotes you 2.7 million, isn't he well within his rights to do that?

I agree that lying about prior accidents/repairs/maintenance/reversing speedometer mileage or misleading a buyer is completely unacceptable but if an individual values his goods/services above the market rate I think that is his prerogative. It is then the responsibility of the buyer to do his or her own homework, assess what is at sale and put his/her own valuation on the table. In the end market forces will bring the average price down to a certain level but in the rare case where a seller quotes a high amount and wins (for whatever reason), I don't think that person has done anything wrong. If a buyer trusts a seller's price at face value and buys it, there is no way that the seller can be caller a cheater later. He quoted a price and somebody bought it and its as simple as that, however over-priced it was.

Of course, if a friend does that to you then there is something wrong somewhere, but I hardly think its fair to say that somebody cheated you because you bought a car at 25% above the market price. Thoughts, guys?

I respectfully disagree. If you are referring to my story there had been a clear fraud. Lets first analyze that. (Because numbers match)

The person brought the car from the professional saying the current market value is 2.2 when it is around 2.6/7.

He was lying when he said he is selling it on behalf of the owner, who is busy on his personal matters

He knew very well there was a gearbox issue when he behaved as if it was fine before the closure of the deal.

He lied to the professional that he has replaced the gearbox or a valve inside. Only an oil change

He lied to me that he is unaware of the gearbox issue when the professional has told him the whole history about the problem

He was making money just for his oil change. What a service! Half a million

He is using the good name of the professional, who already sold the car for a reasonable price allowing for its gearbox issues

Lets turn to the scenario of selling it for a higher price than market price.

Well most of the brokers say to sellers that market price is lesser than current ones.

Then they dry out the market by buying all good cars. It is easier to do now because less people sell cars.

They never tell the truth about the real condition of the car

They nominate the new selling price at their will. A manipulation

So ultimately the service they are offering is that drying out market by cheating less knowledgeable domestic Sellers and hide the flaws of the cars beautifully and raise the market value artificially.

And threaten people when they resist these bastards psych ops

I know there is a law that walking on rail track is an offense. Who follows the rule. None!

I agree when exploitation, dishonesty and fraud becomes the way of life in the society, any thing can be considered as normalcy and order of the day. Mainly for people who daily see or practice such ways. Not for honest people like us!!!

Edited June 2, 2010 by kaushama

[dakrazyman20]

Hmm maybe the senior members or those on the forum who have good technical knowledge regarding such issues could provide a service to other autolanka members where for a small sum they will accompany person and inspect vehicle and give their views. Could have a request page on the site for such a thing

Just a suggestion

[Ripper]

Good point actually, A broker or seller is at the end of the day running a business so whatever they charge on top is, as you say, what they consider their service to be worth. If the buyer doesnt like it, they always have the option of looking at another car.

well Supra...the way i see it...the issue is that in most cases....these sellers blatantly lie or mislead potential buyers. Especially ones who are not so good with cars and spotting the issues...

Running a business is mighty fine but it should be with ethics imho...

any business would love to be a in a position to charge a premium for their products and services. But it should be done without misleading and or cheating a buyer who puts their trust on the seller.

[Saturn]

I am curious to know how people selling cars come up with a value to quote?

And does anyone use a valuation service? What are the perceptions of this service?

Take actual market value, multiply by 2.5

[Saturn]

The final straw was when we found out during an inspection that the frame had actually cracked, no doubt due to a severe accident in japan. According to the guy who found it, the impact would probably have made the car a write off, and our wonderful importer would have got it for a song! Anyway, that was about the limit and we finally got rid of the thing a few months later.

Hope you disclosed all that info to the buyer

[kaushama]

And, further, who needs the services of this parasitic occupation. We all can find our ways to the people who sells cars through paper adverts. We all can asses ourselves the condition of the car or get an independent opinion of a trustworthy expert. We can find genuine buyers through papers or other electronic media.

Perhaps we need importers to get brand new or recons. But Knowing few people who dig for crap in Japanese yards I have serious doubt about that occupation as well.

This is a common problem in our country. No monitoring or quality control of the services. Any body can say "I am running a business" and cheat honest hard working people.

[KLM]

well Supra...the way i see it...the issue is that in most cases....these sellers blatantly lie or mislead potential buyers. Especially ones who are not so good with cars and spotting the issues...

Running a business is mighty fine but it should be with ethics imho...

any business would love to be a in a position to charge a premium for their products and services. But it should be done without misleading and or cheating a buyer who puts their trust on the seller.

Agreed, Ripper & Kaushama. Whenever they lie or mislead buyers with regard to actual ownership, 'market price', car repair history etc, they are crooks.

But if a guy puts a car for sale and says 'look, this is my price', he cannot be considered a crook even if his price is double what the car next door is going for. Then he is just delusional, and will be the world's greatest salesman or a lucky SOB if he managed to actually make a sale at that price.

[Pericles]

Lets turn to the scenario of selling it for a higher price than market price.

Not to agree or disagree with the concept, but as a guy working in a company that makes software for stock exchanges, market price is simply the last price that a buyer and seller agreed to. Sometimes the buyer will offer a higher price to get priority, sometimes a seller will offer lower price to get priority, thats when prices move and that becomes the new market price. Now exchanges have laws to prevent under the counter action to artificially inflate/deflate stock prices, but in the real world, I guess if there isn't some kinda consumer protection authority, well, its just supply and demand. I mean, after all, the buyer has also gotta say ok and agree to the price, otherwise there is no transaction.

[kaushama]

Not to agree or disagree with the concept, but as a guy working in a company that makes software for stock exchanges, market price is simply the last price that a buyer and seller agreed to. Sometimes the buyer will offer a higher price to get priority, sometimes a seller will offer lower price to get priority, thats when prices move and that becomes the new market price. Now exchanges have laws to prevent under the counter action to artificially inflate/deflate stock prices, but in the real world, I guess if there isn't some kinda consumer protection authority, well, its just supply and demand. I mean, after all, the buyer has also gotta say ok and agree to the price, otherwise there is no transactionhttp://forum.autolanka.com/index.php?showtopic=8422&st=20.

Agreed! I am not an economist. But these rules apply when you have business communities who follow common business ethics. But drying out markets and setting new manipulative prices had been a common thing in this country. I do not want to recall some instances when this was done with a political initiative. It is very easy to be done when supply becomes low and manageable for a network of people of sizable proportion.

Edited June 2, 2010 by kaushama

[Supra_Natural]

Hope you disclosed all that info to the buyer

yeah, was bought by a friend of my dads who was totally aware of every issue the car had. he got it for a hell of a lot less than we paid!

[MasterDon]

brokers can be quite handy if you know how to handle them...i have found some sweet deals thanks to those guys...sometimes i even send them to see the cars i have found and let them bargain and haggle,and give them a small percentage of the purchase price... it's just business...as a matter of fact I made one such purchase just yesterday...i'm now happy as a bug

[Ripper]

brokers can be quite handy if you know how to handle them...i have found some sweet deals thanks to those guys...sometimes i even send them to see the cars i have found and let them bargain and haggle,and give them a small percentage of the purchase price... it's just business...as a matter of fact I made one such purchase just yesterday...i'm now happy as a bug

i think in your case...it's the poundage machang

[Saturn]

yeah, was bought by a friend of my dads who was totally aware of every issue the car had. he got it for a hell of a lot less than we paid!

That was decent of you - I apologize for doubting you.

[kaushama]

There may be good brokers and honest sale owners. But I think they are difficult to be found than the good cars these days. More than that we have to be careful about domestic sellers too now.

I started the thread not to humiliate a certain profession or person. It is just to shed some insight into nasty happenings in the market. It is always better to learn from first hand experiences of the others and be careful. I am very sad that I have to develop a paranoid attitude for every important transaction in everyday life. Our good learned parents never taught us to suspect people but to respect them. I guess we have to change that attitude now just to survive in this wilderness.

And if I have come across a friend who has a tranny issue, I wouldn't have bought the car depreciating much further than the market value and sell as it is for a higher price. I would have told him the current market value and helped him to sort out the tranny issue and get a good price for the car. That was, how we were brought up. Now I realize that I loose the opportunity of earning some bucks by doing that. But I am sure according to Darwin's theory, we won't survive the evolutionary process and would be extinct soon. How sad! And end of story. I am outta here!

And please post your experiences here for some of us to learn the facts of life!

Edited June 3, 2010 by kaushama

[Supra_Natural]

That was decent of you - I apologize for doubting you.

nah... it was the obvious question. I should have mentioned it at the end lol

[Supra_Natural]

There may be good brokers and honest sale owners. But I think they are difficult to be found than the good cars these days. More than that we have to be careful about domestic sellers too now.

I am very sad that I have to develop a paranoid attitude for every important transaction in everyday life. Our good learned parents never taught us to suspect people but to respect them. I guess we have to change that attitude now just to survive in this wilderness.

You don't have to develop a paranoid attitude towards important transactions dude.. All you need to do is keep your eyes open and use a little bit of common sense, simple as that.

[Sylvi]

Why do you have to go ruin every useful thread by stating things that we all know?

Btw i am curious on how you reverse a speedometer

Sir,

I never do what I am not experienced.

There are few others do this in Srilanka.

I think they are the first to adjust speed meter figures to Automobile industry.

Wijesinghe.

[kaushama]

You don't have to develop a paranoid attitude towards important transactions dude.. All you need to do is keep your eyes open and use a little bit of common sense, simple as that.

Keeping the eyes open and looking for possible flaws in an apparent clean transaction, is paranoia by my standards. I never had to question the honesty of a transaction before like I do now. Coz I say what I mean and I do what I say.

Cheating has become a common practice, even when you go to fish market now. Let alone buying cars!

Edited June 3, 2010 by kaushama

[GearHead]

Sir,

I never do what I am not experienced.

Wijesinghe.

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Edited June 3, 2010 by GearHead

[DevakaC]

OK gentlemen from the little I know heres a few

- NEVER believe when they say they are selling it on behalf of a friend/relative and what not. (first sign of a broker)

- ALWAYS check luxury taxes paid and their receipts when buying. There are 7 receipts for seven respective years for luxury vehicles if i remember right. If one is missing you will have to end up paying the tax+penalties on compounding basis. Same goes for revenue licence and diesel tax?? We got played twice some time back for unpaid revenue licenses on a van and a double cab. These could add 25,000-50,000 on your final price.

- Trust a party with the name on the registration book rather than open papers. I think open papers are a menace in our country.

- When selling never let anyone check chasis numbers etc

If you absolutely have no weekends to spare and extra cash lying around and dislikes looking at classifieds and paying visits, then get a broker to do the job for you. If not i would avoid at all costs. There are more crooks out there than you can think of.

[shanX]

- When selling never let anyone check chasis numbers etc

Why is that?