GST: Should You Wait for 1 June to Buy Your Car? - #KonOTR | EvoMalaysia.com
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So, the new Pakatan Harapan Government has kept their word on abolishing GST and it's taking effect on 1 June 2018. This means official new car prices will come down on that day. If you're in a buying mood, there's no need to wait, car companies are throwing discounts and rebates to cover for GST. This essentially means, you can bargain hard and buy now.
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Dumb ass, there will be a grace period and there will also be given an implementation period. You think this one stock market ah? Gov won't simply throw the SST in at any time or rate they wanted, and there will be provisions made to cater for backlog orders. At the start of the video, spoke about not dwelling into economics is right, you should stick with car review.
Mate, you were criticizing without understanding the message. This video addresses the question on whether consumers should wait till 1 June 2018 before buying their cars. At no point in the video did I mention anything about SST going to be suddenly thrown into the picture. All I said was, at the time the video was filmed, we don't know when SST is coming back and by how much. Nothing was confirmed at that point in time.
As I type this comment, it has only been confirmed that SST will be 10%. This report from FMT only states that SST will be implemented 'this year' without giving a specific date: http://www.freemalaysiatoday.com/category/nation/2018/05/22/sst-will-definitely-be-implemented-this-year-says-finance-ministry/
My experience in this industry suggest that provisions will definitely be made for backlogged orders. Say, for example, once government confirms that SST 10% will come into force on 1 Sept 2018, car companies will usually find a way to ensure that orders placed up to and including 31 Aug will not be subject to 10% SST.
Omg this is so useful. Thank you! Im currently confused between City or Vios 🤭 now waiting the Honda’s answer so that I can decide between two. But I would like to know your opinion. Which one would u choose? 😂
For me if u have the money just buy now..if ur money is not enough yet even for a 20% of the car u want,forget bout it je lh.. there's always another time,0% gst is a great time to buy gadgets..cars and houses might be tempting but look at the margin first before buy as it is a BIG purchase
If i the customers i will buy now cos once sst comeback we dont know how many percent it will be. For now we already know the 6% is become 0% and some people can use the 6% value money to top up with the rebate and another amount of money for downpayment. Thats mean customers dont have the burden too much to out money for 10% DP. Unless the customers can give more than 10% DP for the new car. The more DP the lower the monthly it would be. Bare in mind festive season is coming and next year you need to renew the insurance. But will this effect the interest rate by bank for loan once SST take effective after 1 June 2018?
SST will definitely impact your new car's purchase price when it comes into force, though by how much remains pending announcement la. A lot of people are speculating it will be 10%, but truth is we don't really know when SST is coming back and by how much. Politically, the new PH govt wouldn't want to set too high a figure for fear of backlash, but we'll wait and see.
Impact on used car is less significant. If you are buying direct from an owner, GST or SST does not even come into play. For used car dealers, it was explained to me that GST is applied only to the mark-up margin of the car. So if a dealer takes a car in at RM100k and sells it for RM120k, GST is 6% of RM20k.
If submit this week, and your documentation is complete, should be sorted in time. I believe with 1MDB and all, Finance Ministry will have a lot of issues on their hand before having the time to look at reviving SST.
I wonder if some brand normally used to give huge discount all these while.. will they use this No GST of 6% to change the game play? For example, A4 last time can offer discount around RM30K.. Now they offering without GST of 6% with rebates of RM15K + free gifts..
navind chitty Not necessarily this case. For instance, Mazda dont normally offers cash rebates unless during roadshows.. But from this gst removal, they may be coming out with new price list which significantly has more added value than those offered during roadshows
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