![\"dbs-car-marketplace\"](\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2017\/08\/dbs-car-marketplace.jpg?resize=600%2C401\")
<\/p>\nWant to have a one-stop service to buy\/sell your car? DBS has partnered with sgCarMart\u00a0and Carro to create Singapore’s largest direct buyer-to-seller car marketplace – DBS Car Marketplace. It is designed in a way so that buyers and sellers are seamlessly guided throughout their purchase or sales journey, from start till completion, and of course, it provides relevant financial and product information.<\/p>\n
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One of the issues about buying\/selling cars is the process. I guess many like me would like to simplify them. With DBS Car Marketplace, it seems that they have linked all these loose ends together for buyers and sellers. Of course, you will have to utilize DBS loan package. Here is a simple graphical representation of the buy\/sell process.<\/p>\n
![\"dbs-car-marketplace-process\"](\"https:\/\/i0.wp.com\/techielobang.com\/blog\/wp-content\/uploads\/2017\/08\/dbs-car-marketplace-process.jpg?resize=600%2C409\")
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And here is the Press Release.<\/p>\n
Press Release<\/strong><\/span><\/p>\n A Singapore milestone: First bank here to launch online consumer marketplace that matches buyers and sellers<\/em><\/p>\n DBS Car Marketplace<\/em><\/a>\u00a0is a one-stop solution for car buyers & sellers \u2013 providing all the relevant services and information customers might require in their car purchase or sales journey<\/em><\/p>\n SINGAPORE, 10 August 2017<\/strong> \u2013 DBS today announced the official launch of\u00a0DBS Car Marketplace<\/a>\u00a0(go.dbs.com\/car<\/a>) \u2013 Singapore’s largest direct seller-to-buyer car marketplace, in partnership with sgCarMart and Carro. With some 3,500 direct-owner car listings, DBS Car Marketplace\u2019s official launch makes it Singapore\u2019s first online consumer marketplace helmed by a bank. This follows the Monetary Authority of Singapore\u2019s (MAS) announcement in June this year proposing to allow banks to operate digital platforms that match buyers and sellers of consumer goods or services.<\/p>\n Said Jeremy Soo, Head of Consumer Banking (Singapore) \/\u00a0\u661f\u5c55\u94f6\u884c\u65b0\u52a0\u5761\u6d88\u8d39\u94f6\u884c\u90e8\u8463\u4e8b\u603b\u7ecf\u7406\u517c\u4e3b\u7ba1\u82cf\u5b5d\u8fdb, \u201cDBS Car Marketplace exemplifies how we are reimagining banking, using digital technology and innovation to extend our reach. Our insights indicate that consumers increasingly value transparency and simplicity, particularly in large purchases such as cars. We\u2019ve therefore designed the marketplace so buyers and sellers are seamlessly guided throughout their purchase or sales journey \u2013 from start till completion \u2013 and provided relevant financial and product information. DBS Car Marketplace provides a one-stop solution for those looking to purchase or sell cars: it connects buyers and sellers together at a marketplace that contains the largest number of direct-owner car listings, and ensures that they have full control and transparency over every stage of the process.\u201d<\/p>\n DBS Car Marketplace also provides several exclusive benefits for buyers and sellers (see Appendix for more information). Sellers can list on both sgCarMart and Carro at one go for free (listing fees are waived till\u00a04 October 2017<\/span>). Buyers will enjoy DBS\u2019 most attractive online interest rate of 1.99% p.a. (EIR 3.77% p.a. over a 7-year loan) on their DBS car loan when they buy a car through the DBS Car Marketplace, till\u00a031 August 2017<\/span>. An on-site car budget calculator provides the estimated loan amount the buyer is eligible for, and then serves them a list of cars based on their budget. If they find a car they are interested in, they can arrange for a test drive online with the seller directly. Finally, both buyers and sellers will be fully guided and enjoy free paperwork services for car ownership transfers.<\/p>\n Said Vincent Tan, General Manager of sgCarMart \/ sgCarMart\u603b\u7ecf\u7406\u9648\u6587\u6770, \u201cEnd consumers are smarter and more technologically savvy now, which means more of them are choosing to deal with buying or selling their cars themselves. The number of direct owners trying to sell their car on sgCarMart has been steadily increasing by at least 10% ever year. We see a huge opportunity to tap into this growing market given this trend, and help speed the growth along. Listings on DBS Car Marketplace will also be visible to the 2.6 million visitors that visit sgCarMart each month until the car is sold. In 2016, 79% of all direct owner car transactions were completed on sgCarMart.\u201d<\/p>\n Said Aaron Tan, CEO of Carro \/ Carro\u603b\u88c1\u9648\u4f1f\u7a0b, \u201cThere is definitely an increased interest and awareness for direct owners to transact between themselves, and we have seen our listings double over the past year and transactions through our platform have been steadily increasing. We believe that the trend to democratise the buying and selling of vehicles will continue and will become the preferred choice for consumers looking to get better returns and more assurance for their sale and purchases.\u201d<\/p>\n DBS Car Marketplace began its pilot in December 2016, when the bank tied up with Carro to launch a platform leveraging DBS\u2019 website traffic to connect potential car buyers and sellers. To visit the DBS Car Marketplace, go to\u00a0https:\/\/go.dbs.com\/car<\/a>.<\/p>\n About sgCarMart<\/strong><\/p>\n sgCarMart offers the largest database of new and used cars for sale in Singapore, and attracts 40 million views and 2.6 million visitors every month. 10 cars are sold every hour on the automotive retail portal. It provides the customer full control in selling their car direct-to-buyer for the best price. On DBS Car Marketplace, free paperwork services are provided by sgCarMart Connect. These include Settlement of Loan, Insurance & LTA paperwork for direct buyer and seller.<\/p>\n About Carro<\/strong><\/p>\n Car marketplace startup Carro guarantees that their customers’ cars will be sold\u00a0in 30 days<\/span>\u00a0and offers a six-month warranty on their customers’ car to the buyer. On DBS Car Marketplace, customers enjoy free paperwork services, pricing analysis and support from their Car Heroes.\u00a0 More than 2,000 cars have been sold via Carro.<\/p>\n How to buy or sell cars on DBS Car Marketplace<\/strong><\/p>\n Please see enclosed guide<\/p>\n [END]<\/p>\n About DBS<\/strong><\/p>\n DBS – Living, Breathing Asia<\/em><\/strong><\/p>\n DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings, is among the highest in the world.<\/p>\n DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named\u00a0\u201cWorld\u2019s Best Digital Bank\u201d<\/a>\u00a0by Euromoney. The bank has also been recognised for its leadership in the region, having been named \u201cAsia\u2019s Best Bank\u201d by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named\u00a0\u201cSafest Bank in Asia\u201d<\/a>\u00a0by Global Finance for eight consecutive years from 2009 to 2016.<\/p>\n DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region\u2019s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.<\/p>\nDBS PARTNERS SGCARMART AND CARRO TO CREATE SINGAPORE\u2019S LARGEST DIRECT BUYER-TO-SELLER CAR MARKETPLACE<\/h2>\n