Land Transport Authority statistics shows a good 20,000 cars are involved in accidents every month and with the value of new cars getting cheaper, the market value of older motor vehicles also drop which results in higher numbers of accident motor vehicle being deemed “Total Loss” even if the motor vehicles are slightly damaged. However, this does not mean that such cars are no longer suitable for the road use. As such we are introducing a new concept to Singaporeans to show higher interest in such motor vehicles.
We cater to interested buyers looking for cheaper 2nd-hand cars as they can get a better price for such accident repaired motor vehicle compared to those that claimed “Accident-free” vehicles. Buyers who are looking for “Trial” motor vehicles for their children but may not want to spend too much on a brand new car can consider such motor vehicles until they are familiar and experienced with car handling.
We also cater to workshops who are in interested in purchasing body parts required for the purpose of motor vehicle repairs as nowadays a lot of accident claims vehicles are repaired based on “Lump Sum Basis” which allows the workshop or repairer to use 2nd-hand or O.E.M parts to facilitate the repairing of vehicles.
With our auction style, we are capable in assisting insurance companies for the prupose of arranging such “Total Loss” motor vehicles to be assessciable to more interested parties (locally and internationally). Our services would be able to relieve insurance companies and owners of damaged vehicle the tedious and long process of “settlement” between all parties.
We help to make the accident-related damaged vehicle market more fair and transparent. Our auction style continues to propose various solutions and provide a new “marketplace” based on market principles, so that the social status of the sector is further enhanced. KFSMW continues to improve management skills for auto auction systems to provide member corporations with a more convenient and valuable “marketplace”. |
