Singapore's new and used car dealers, as well as leading car-related service providers, have come together to launch UCARS. It aims to become the leading online car marketplace by leveraging on its unique position as a group of leading companies in Singapore's automotive ecosystem.Consumers can expect thousands of quality new and used car listings in one place, as well as listings exclusive to UCARS. Leslie Hong of UCARS explains, "Our strict verification procedures mean that we will be the gold standard for having the most extensive collection of quality and reliable cars. We look forward to providing consumers with greater assurance when buying and selling their cars."UCARS aims to drive down costs on listing cars for sale so that these cost-savings can be passed on to customers. This is a significant cost component for any dealer. "Buying a car is a big decision, and we want to help consumers make the right decision, get the best deals, and save money," Eddie Loo, 21 United Holdings … [Read more...] about UCARS to launch in May 2019, promising best prices and reliable deals for new and old cars in Singapore
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SoftBank’s Vision Fund in talks to invest US$1.5 billion in Chinese used car platform
HONG KONG/BEIJING: The SoftBank-led Vision Fund is in talks to invest up to US$1.5 billion in Chinese used car trading platform Guazi.com, two people with knowledge of the matter said.That would mark the latest Chinese deal by the mammoth US$100 billion investment fund as it looks to expand in the world's No.2 economy, and would come after it invested 460 million euros in German used car dealing platform Auto1.The fund is likely to invest up to US$1.5 billion in Guazi in a deal that would value the firm at US$8.5 billion before the investment, according to one of the sources, who had direct knowledge of the situation.The two sources, who were not authorised to speak to media, also said the Vision Fund had in the past few months held talks with Guazi's direct rival, Renrenche, which is backed by Chinese ride-hailing firm Didi Chuxing.Guazi, a consumer-to-consumer used car trading platform founded in 2014, is backed by Chinese internet giant Tencent and Sequoia Capital China. Its … [Read more...] about SoftBank’s Vision Fund in talks to invest US$1.5 billion in Chinese used car platform
Here are the 13 best used-car deals for trucks and SUVs
caption A 2015 GMC Sierra 1500 source GMC Media Some off-lease used SUVs and pick-up trucks can be bought for prices between $17,000 and $48,000. iSeeCars.com analyzed more than 4.1 million cars to find the 10 SUVs and three pick-ups trucks that had the lowest 3-year-old used price. The average depreciation rate for the top-10 almost-new SUVs after three years fell between 41.7% and 47.2%. Pick-up trucks did not have as high a 3-year-old depreciation rate, as the three cars listed had an average of 23.3%. We all love a good deal when we see one. One of the better deals on the market is the purchase of an almost-new off-lease used car, meaning one that has only seen three years of use on the road. The automotive search engine iSeeCars.com recently commissioned a study to look at the used car industry, where they found the best used-car deals out there. But the study also took a more focused measurement of which are the best used cars that … [Read more...] about Here are the 13 best used-car deals for trucks and SUVs
Here are the 10 best used car deals for under $20,000
caption A 2016 Mazda 6. source Mazda Some off-lease used cars can be purchased for under $20,000. iSeeCars.com analyzed more than 4.1 million cars to find the 12 cars that had the lowest 3-year-old used price. The average depreciation rate for new cars after three years is 35%. The 12 cheapest used cars on the lowest used price list depreciated at a rate of 46.3%. There’s nothing better than finding a good deal. And one of the best deals out there is the purchase of an almost-new used car, meaning one that has only seen three years of use on the roads. The automotive search engine iSeeCars.com recently commissioned a study to look at the used car industry, where they found the best used-car deals out there. But the study also took a more specific measurement of which are the best used cars that can be had for the very lowest cost. Among the 4.1 million cars surveyed, iSeeCars.com examined which cars under $20,000 provide the best bargain after … [Read more...] about Here are the 10 best used car deals for under $20,000
AEONTS steps into used car segment
Aeon Thana Sinsap Thailand Plc (AEONTS), a hire-purchase lender for household products and a credit card issuer, has branched into used car loans to capitalise on strong growth in the business. The company aims to lend 500 million baht worth of used car loans this year.Used car loans have solid growth and the company foresees great business opportunities to expand into its both current and new customer base, said managing director Kiyoyasu Asanuma.The higher excise tax on new vehicles and stable used car prices have encouraged consumers to buy used cars."Last year, we saw a growth in the used car loan segment and greater opportunities to expand our existing customer base. We expect to extend 500 million baht in used car loans this year," he said.AEONTS is offering interest rates from 3.5% per year with the longest tenure seven years and the maximum credit limit, which is equivalent to the purchase price -- without requirement of any guarantors.The local unit of Japan-based AEON Group … [Read more...] about AEONTS steps into used car segment