Buying a car in Singapore is notoriously expensive, with just the Certificate of Entitlement (COE) alone coming in at over $103,000 in the latest bidding. You also have to contend with road taxes, maintenance fees, and petrol. It goes without saying that every penny counts, and one effective way to mitigate these expenses is through parallel importing. This method involves buying vehicles through independent dealers instead of authorised dealerships, which can lead to substantial savings. Here’s how you can save money with parallel importing.
1. Lower Purchase Price
One of the primary benefits of buying a car from a parallel importer in Singapore is the lower purchase price. Parallel importing often offers cars at significantly reduced prices compared to authorised dealerships. This price difference arises because parallel importers operate with lower overheads and fewer middlemen, passing on those savings directly to you. Moreover, parallel importers have direct access to international markets, allowing them to import vehicles at more competitive prices.
In essence, affordable parallel imported cars are an excellent opportunity for savvy buyers to own the car they want at a fraction of the price. The cost savings on parallel imports stand out even more when purchasing high-end vehicles, as the price gap between authorised dealers and importers can be substantial.
2. Wider Selection
Another advantage of parallel importing is the sheer range of cars you can choose from. With a more unfettered access to international markets, the car selection from parallel imports are much broader, from models, to specifications, and even trims. This means you are not limited to the selection offered by local authorised dealers. You may find unique or less common models that may not typically be available in Singapore, allowing you to drive something that better suits your preferences or stands out on the road.
For instance, while authorised dealers may only offer specific versions of a popular car model, a parallel importer can often source additional trims or features that cater more precisely to your needs. Whether you are looking for a rare colour, a specific engine type, or upgraded interior finishes, parallel import car selection offers much more variety and flexibility than traditional channels.
This wider selection also means you can shop around for vehicles that may come with features not offered by authorised dealers, or you might discover a car that is better suited to your requirements—be it a more fuel-efficient version, additional safety features, or a model designed for overseas markets.
3. Reduced Depreciation
In Singapore, the depreciation of a car is a significant factor in its overall cost. Since cars lose value over time, it is important to consider how depreciation will affect your investment. One way to minimise this is by purchasing through parallel importers. Vehicles bought through parallel importing often have a lower initial purchase price, which means they depreciate at a slower rate compared to cars bought from authorised dealers.
The reduced depreciation of parallel cars makes them a more cost-effective option in the long term. As you are buying the car for less upfront, the total value lost over time will likely be lower. In many cases, this can result in a better resale value when you eventually decide to sell or trade in the vehicle.
4. Incentives and Discounts
In a bid to attract customers, parallel importers frequently offer a range of incentives and discounts that authorised dealers may not provide. These could include discounted rates, extended warranties, or even free add-ons like tinted windows, upgraded sound systems, or service packages. These additional perks can significantly reduce the overall cost of owning a car.
Some parallel import car discounts are offered at the point of sale, while others might come in the form of after-sales support, such as reduced servicing costs or free maintenance for a set period. With Singapore’s high vehicle maintenance costs, these incentives can make a big difference over the lifetime of the car.
Moreover, parallel importers like Leco Auto often go the extra mile to provide customer-focused services, offering flexible financing options and more personalised support. All of these factors combine to make parallel imports an attractive alternative to purchasing from authorised dealers, allowing you to save even more money in the long run.
The amount of perks available through parallel importing makes it a very enticing alternative to buying cars from dealerships. However, you will also want to ensure that you are dealing with a trustworthy and reliable parallel importer in Singapore. Here at Leco Auto, we are a household name in the auto industry—a reputation that has been diligently upheld since 1975. Let us help make your dream of purchasing a vehicle a reality.
For more information about our services and models, please contact us today.
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