Easy Loan Availability, Ease of doing business, Consumers preference for personal vehicle and the Fruitful Lemon Law will flourish the Used Car Market of Singapore – Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. Singapore sustains 1st rank in Asia in the World Bank’s Ease of Doing Business index 2020, ranked 2nd globally In 2020, Singapore ranked 2nd out of 190 countries in the World Bank’s Ease of Doing Business Index. The country has maintained its second position for four consecutive years. In the Global Competitiveness Index ranking, Singapore stood in 5th position in 2021, down from 1st the year before on the basis of unfavorable geography. Presence of high investment and R&D expenditure. Automobile manufacturers are focusing on connected and autonomous driving vehicles to play a significant role over the coming years. Automobile companies in Singapore benefit from high exports to other countries. Being one of Asia’s primary hubs for wealth management and investments and home to one of the largest foreign exchange trading centers, Singapore fosters entrepreneurship. To Know More about this report, download a Free Sample Report 2. Social Media Platform is Widely Used for Used Car Sales as it Offers Free Ads for Dealers and Customers Car dealers use blogs to generate traffic to their website from search engine results pages. They often put-up educational content related to cars maintenance, help guides, knowledge material in order to create a brand presence. Unlike online portals and market places, social media provides an opportunity to dealers to advertise their cars for free. This platform is also used by individuals involved in C2C purchases. Also, major dealerships use this platform to announce promotional offers and local events. Partnership with online platforms to supply used cars to customers. Online portals follow lead generation process, sellers list cars and company facilitate the overall transaction of acquiring the vehicle. Other Services include providing car valuation and quality checks. 3. Age, Brand, Price Influence the buying decision of customers in Singapore’s Used Car Market Consumers generally do not prefer to buy cars that more than 4-5 years old. They are willing to pay higher prices for newer cars. Japanese cars are preferred to Continental cars due to longer durability and lower prices. Toyota and Honda are the most preferred brands in the country. Luxury brands are in demand. Difference between a luxury new car and a luxury used car is about 50%. Buyers are looking for cheaper cars when buying pre-owned vehicles. Lower OMV value leads to lower ARF as it is a percentage of the same. 15,000 Km- 17,000 Km is considered best for the car. The mileage of the car along with the age of the vehicle, together affect the buying decision. Visit This link Request for Custom Report 4. Singapore Used Car Buyers Protected by the Lemon Law Against Car Defects For 6 Months From Purchase The Lemon Law protects consumers against defects of goods purchased within 6 months. Consumer can take action against the dealer if the good does not meet performance, safety and quality standards specified in sales contract at the time of purchase. The Standard Vehicle Assessment Report (SVTA) members perform 54 visual, road-test and equipment checks for the used car. When a fault is reported within 6 months, the dealer is legally bound to resolve the issue. If the repairs are not completed within a reasonable time period, the car buyer is entitled to a full or partial refund. The law does not cover wear and tear items. Consumer to Consumer transactions do not benefit from the lemon law. If a car is bought from a direct dealer or consignment dealer that will not be covered. If a defect was highlighted before in the (SVTA) vehicle report, then lemon law does not apply. For more insights on the market intelligence, refer to the link below:- Singapore Used Car Market Follow us:- Facebook | LinkedIn | Twitter Tags: AutoDeal Singapore Number of Listings, AutoDeal Singapore Users, Automart Singapore Number of Listings, Bank Repossessed Cars in Singapore, Carmudi Singapore Number of Listings, Carmudi Singapore Users, Carousell Singapore Number of Listings, Competition Scenario in Singapore Used Car Market, Covid-19 Impact Singapore Used Car Market, Developments in Singapore Auto Finance Industry, Future Outlook of Used Cars Market in Singapore, Honda Market Share, Lead Generation of Used Cars for Dealers, Mitsubishi Market Share, Number of Online Used Car Companies Singapore, Number of Used Car Dealers Singapore, Number of Used Hatchbacks sold Singapore, Number of Used MPVs sold Singapore, Number of Used Pick-up Vans sold Singapore, Number of Used Sedans sold Singapore, Number of Used SUVs sold Singapore, Online classified players used car space Singapore, Online portals for Used Car Singapore, Partnerships Used Car Market Singapore, Philkotse Singapore Number of Listings, Region Wise Used Cars Sales Singapore, Singapore Auto Finance Market Ecosystem, Singapore Used Car Industry, Singapore Used Car Industry Analysis 2021 to 2027, Singapore Used Car Industry basis Volume, Singapore Used Car Market, Singapore Used Car Market 2020-2030, Singapore Used Car Market Analysis, Singapore Used Car Market Business Opportunity, Singapore Used Car Market Competition, Singapore Used Car Market Demand, Singapore Used Car Market Forecast 2021–2030, Singapore Used Car Market Future Outlook, Singapore Used Car Market Growth, Singapore Used Car Market Growth Rate, Singapore Used Car Market Insights, Singapore Used Car Market key segments, Singapore Used Car Market Major Players, Singapore Used Car Market Overview, Singapore Used Car Market Research Report, Singapore Used Car Market Revenue, Singapore Used Car Market Scope, Singapore Used Car Market Segmentation, Singapore Used Car Market Share, Singapore Used Car Market Size, Singapore Used Car Market Trends, Snapshot Singapore Used Car Market, Toyota Market Share, Used Car Market Current Status Singapore, Used Car Market Direct Buyers in Singapore, Used Car Market In Global, Used Car Market Present Status Singapore, Used Car Market Value Chain, Used Car Sales Singapore, Used Car to New Car Ratio Singapore, Value Chain of Used Car Industry in Singapore