Best time to buy vehicles: Local vehicle sellers

22 October 2022 11:28 am - 17 - {{hitsCtrl.values.hits}}

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Local vehicle sellers in the country say that this is the best time to buy a vehicle as the prices of second-hand vehicles have dropped drastically.

They said the importing of vehicles was halted and only the vehicles which have already been imported and the existing number of vehicles in hand are circulating in the market.

"We cannot think of importing vehicles. The prices of vehicles have not declined significantly, but marginally," they said.

"Due to escalating interest payment in leasing and with the higher bank interest rates for depositors, a trend has been created to deposit money after selling their vehicles", they said.

The local sellers requested the people not to go for leasing facilities, but if any buyers who wish they should, they can go for it as the leasing rates are similar to it was, before the increase.

Therefore, it is the best time to buy a vehicle, they opined. (Chaturanga Samarawickrama)

Comments - 17

Gamage Saturday, 22 October 2022 01:07 PM

This is a totally misleading information by these group of people. They are trying to create an artificial demand before electrical vehicles start coming into the market.

shashimal samaraweera Saturday, 22 October 2022 03:56 PM

cant be ruled out in its entirety

Citizen Saturday, 22 October 2022 01:41 PM

This is a Business Gimmick to promote the Business by car dealers. Still quoting very high prices for hacked very old used cars. Still prices have not dropped at all. Prediction is for people to see this news item and to rush for cars at a redused amount. People are wise. They will wait for another year or 2 for prices to really drop. It may take a decade to see some improvement in our shattered economy. Any moment there could be a caviar fuel shortage. Please do not try to fool us any more.

Wrong, Wrong wrong Saturday, 22 October 2022 02:47 PM

I wonder about the integrity of the particular journalist on whether he has conflict of interest reporting information that is favorable for business associations advertising and marketing?

M Fernando Sunday, 23 October 2022 04:57 PM

Integrity ? In Sri Lanka ????

Alanz Saturday, 22 October 2022 03:31 PM

This same article was publicised a month back, it's like an advertisement

jambun Saturday, 22 October 2022 03:47 PM

Absolute rubbish of a news DM. Account to the CB it will take atleast 12 to 25 months in order to do any changes in the interest rates. And these car dealers are smart, they will be the ones who be bring in the electric cars next year under the guise of migrant workers. And technically the current prices are still exorbitant. The other point is most of these wheeler dealers have bought most of these vehicles are high prices during the last two years. So no one gonna seller cheaper just because they are getting higher interest rates from bank. Only a handful might do.

R. Pinsiri. Saturday, 22 October 2022 08:11 PM

Readers shouldn't take these 'anonymous' news seriously. Bogus news. There is no name mentioned. Only hearsay.

Aram Saturday, 22 October 2022 10:52 PM

This is totally a absurd news. It is not true and full of tricks

v.de mel Sunday, 23 October 2022 01:15 AM

bull shit.

Sam Sunday, 23 October 2022 06:52 AM

Reading in-between the lines "buy cars now for ridiculous prices so we can make loads of money as the prices will drop soon"

Lahir Sunday, 23 October 2022 06:53 AM

3000-4500 AUD dollar worth of car ( 1998- 2002 models) in western countries and India and subcontinent sell the same model in SribLanka for 14000 AUD to 17000 AUD with current exchange rate. Similar pricing you find in under developed African and south American countries. This an indication of we are in trouble socially and economically

Roshan Sunday, 23 October 2022 10:33 AM

This is totally misleading. How can you buy vehicles when ban lending rates are so high?. Do not fool the people and mislead them. Get your facts right before you give out information. Have a look on the various car dealerships and other sites first. Where has the prices reduced ?

Dee Sunday, 23 October 2022 11:50 AM

We won't loose much in waiting a year or two. Those who are crazy can go ahead and buy cars. Anyway srilankans are such that they will even sell their houses to buy cars! We had cars for generations so nothing to show off. Those who didn't can sell all their assets and buy a car.

Terrence Sunday, 23 October 2022 02:40 PM

The journalist is leading the public astray and maybe in the interests of car dealers never will there be any drop in prices as the car market has flopped with the restrictions placed on import of new vehicles which will not see the light of the day for the future so Sellers be careful this is not the ideal time to dispose of your vehicles is it not better to retain the known vehicle

Bren James Sunday, 23 October 2022 03:13 PM

"corruption, race baiting and cronyism have not worked and will never work" Shehan Karunatilaka. While the political elites travel overseas for face lifts and hair transplants, the people suffer. Draconian law's.. Nepotism... And the so called aristocracies still prevail. Would it really change?

R. Colombage Sunday, 23 October 2022 04:11 PM

Gamage, please get back when you think electrical vehicles are going to be imported when today, people have little electricity to run a lamp to read the use's manual for such a vehicle. Perhaps Gamage's harak maduwa is already equipped with a charging station, yes?Maybe we should ask the honorary Solheim the ex traitor turned environment expert for answers. Peter Pan

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Best time to buy vehicles: Local vehicle sellers

Comments - 17

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