Surfing cars cost more than new cars, which is an unprecedented paradox

Surfing cars also race with new products

Market car Vietnam from the end of 2021 to now is receiving a “fever” state car price continues showing no sign of stopping. Not only Toyota has a tradition of “price difference”, “selling beer with peanuts”, but other big brands like Hyundai and Ford also jumped in. Gently, customers are only required to buy accessory packages from 50 to 100 million dong, where “severe” they have to spend tens of millions to hundreds of millions of dong more than the listed price without any promotion.

The cause of the above “fever” is blamed on a global shortage of assembled components, but many people believe that this is an opportunity for dealers to take advantage of and make up for the time they were affected by the COVID-19 epidemic. -19.

The thirst for “hot” cars has led to the surf car market also increasing in price “following the rain”. In the past, buying a “surf” car (newly registered car with short mileage) was a way to save money for those who could not afford to buy a new car, but still wanted to be assured of quality, but now the difference is almost no more.

For example, recently, Mr. Phan Duc Viet (Tay Ho, Hanoi) had to spend nearly 1.4 billion VND to buy a 2.2L premium diesel engine Hyundai SantaFe, registered at the end of 2021, has rolled 3,000 km. This price is 60 million VND higher than the new purchase price of 2022, which is 1.34 billion VND, but not yet, because it is a provincial marine car, it will cost Mr. Viet 42 million VND more to register to change the plate to Hanoi.

Explaining the decision to buy a used car with a high price, Mr. Viet said that he had thought about it carefully and accepted it because the new car was now “difference” to 100 million VND, and had to pay a 12% registration fee, so when he went to the license plate also reached over 1.6 billion. If you don’t want to be pressured, you have to sign and wait for 3 to 4 months, not sure if you have a car.

An old car dealer on Nguyen Xien Street (Hanoi) said that Hyundai cars “surf” like Santa Fe or Tucson are also “hot”. “My shop just imported a new Tucson 2.0 diesel engine 2022 running nearly 4,000km, registered in the sea of ​​Ho Chi Minh City, priced at 1 billion 150 million dong. The car hasn’t arrived at the store yet, but only posted on Facebook but a customer has already made a deposit“, said Mr. Phan Canh, the store manager. Thus, compared to a new car priced at 1.03 billion VND, the Hyundai Tucson surfing is more expensive than 120 million VND.

In fact, the new Hyundai Tucson is also “sold out” and customers have to sign up to wait for up to 6 months or get it quickly to pay more than the listed price from 35 to 100 million VND.

Not only are production cars “out of stock” pushing up prices, but the used car market also recognizes models that have been announced to stop production such as Vinfast Fadil with high prices. As a car owner in Ho Chi Minh City has just sold the VinFast Fadil enhanced version 1.4 AT Plus 2021, which has rolled to 19,000km with a fairly high price of up to 398 million VND, only ten million VND less than the price of a new car.

The price increases, but it takes “risk blood” to make a profit

The price increase on both new and used cars makes it very difficult for car buyers to make a decision to find a car that has both factors: favorite and suitable. The car “fever” makes many people see it as an opportunity for business people. However, for people in the profession for a long time, this occasion is no different from playing the stock market.

Mr. Nguyen Xuan Duc, a used car dealer in Cau Giay area (Hanoi) shared that at this time, not only car buyers bear high prices but also sellers. “Hot cars like Santa Fe and Tucson are now difficult to source. The owner of the resale car also shouted at a high price, the dealer must make sure the trunk is ready to be found before he dares to re-enter. The car was bought but left for a long time and did not sell, after the time of car fever, there was only a loss“, said Duc.

Mr. Duc also said that the source of cars with the most affordable prices is imported from the southern provinces, but depending on the partner looking for a car, I can’t test it myself, adding shipping costs, high commissions, so the profit is not more than the car. get it in the North, in return it’s easy to buy quickly. According to him, people who choose to trade in “hot” cars not only need good capital but also have to have “risky blood” to expect to be profitable.

Sharing the same opinion with Mr. Duc about the opportunity factor when choosing to sell hot cars, Mr. Phan Canh predicts that the market will remain good until next July. Canh said: “From the beginning of the year until now, every month I sell about ten cars. Particularly for hot cars, it only takes 4 to 5 days for customers to buy after importing, turning around, just selling 4 cars is enough.“.

However, Mr. Canh said that the risk to the seller when running after the car “surfing” is as high as having to appraise papers and procedures for bank mortgage if the car owner buys it with a loan. “Many cases are eager to buy a surf car due to an impatient mentality that is easy to stick to a bank car and fake papers“, Canh said.

Some experts believe that in the context of the current car market with price fluctuations and car scarcity, buyers need to balance their ability to avoid falling into a financial trap. Trying to run after a favorite car that incurs a high price, easily increases liquidity risk when having to buy with bank loans or borrow from relatives.