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Second-hand car dealers crying foul over 'middlemen' keeping stocks, rising prices

By NURHIDAYAH HAIROM, NURUL HUDA HUSAIN and MUHAMMAD AMNAN HIBRAHIM
17 Aug 2022 08:00am
Used car dealer Khairil Anwar inspecting one of the second hand cars.
Used car dealer Khairil Anwar inspecting one of the second hand cars.
KUALA LUMPUR – The price of used cars in the country is rising causing sales to drop by 60 per cent.

Based on a survey by Sinar Harian, second-hand dealers claimed the industry is controlled by ‘middlemen', causing the price of used cars to be almost the same as a new car.

They also said buyers had to fork out more to pay for a down payment.

Second-hand car dealer, Mohd Khairi Shafie said he could sell 15 cars a month but now he is happy to sell even five cars.

“The price of used cars is now quite high because we have to take stocks from a ‘middlemen. It is hard to get stocks through direct purchases from car owners," he added.

Citing an example, he said a used Toyota Vios (J Spec) 2020 is now sold at RM67,000 while a new car of the same model is sold at RM78,000.

Another used car dealer Mohd Nurul Haq Md Yaakob said prices have gone up causing buyers to fork out more for a down payment.

Another used car business owner, Khairil Anwar Jaafar is also facing a drop in sales. He sold four used cars this month so far.

“There are cars not sold for six months. The longer it is unsold, the price will gradually decline whereas we bought it at higher prices.
Related Articles:
Used car
Middle person
Expensive
Down payment
Bank loan
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