Local car portal offers stress-free ways for buyers to get rid of financial worries

sgCarMart Connect bills itself as Singapore's first one-stop online auto transaction plan for your car needs.

Buying a car from a private seller instead of a dealer often means that the buyer has to arrange for financing himself. In addition, he has to incur the hassle of sourcing for multiple motor insurance quotes and settling the legal ownership transfer of the vehicle himself.

sgCarMart Connect has partnered with sgCarMart to launch a revolutionary suite of free services for direct buyers and sellers of used cars. sgCarMart Connect will provide direct car sellers and buyers an end to end direct solution to transact their car directly online including assisted online listing, vehicle mechanical inspection, sourcing for multiple insurance quotations, sourcing for multiple financing quotations and legal transfer of the vehicle ownership.

As high COEs prices continue to take a central stage in Singapore, sgCarMart.com - a car portal that claims to be the largest in town saw a 112 percent surge in direct owner listings as more sellers choose to cut cost by selling directly to another consumer.

Officially launched in March 2012, sgCarMart Connect has already processed over $8 million in auto loans.

“For the 1st time in Singapore’s automotive history do consumers have a VIP Concierge service that gives them a cash rebate of up to $4,500 just to provide them a hassle free experience of buying and selling a car directly with another consumer. It is like having a chauffeur who pays
you to let him drive you around.” said Fu Jijin, founder of sgCarMart Connect.

sgCarMart Connect partners with 8 leading financial partners and more than 5 insurance companies to provide consumers the best rates in Singapore. We also help consumers to perform the vehicle transfer of ownership with the Land Transport Authority (LTA) on their behalf and provide the necessary documentation for vehicle handover.

MOVING FORWARD

sgCarMart Connect also bills itself as the first company in the region that plans to offer a consolidated interface to help car owners to manage the entire life cycle of owning a car from tracking of monthly loan installments, multiple quote submission for annual insurance renewals, finding suitable vendors for car servicing, repairs and modifications.

"We also provide instant car valuation and car auction facilities. The soon to be launched is sgCarMart Connect's flagship platform - Car Nexus 3.0 is the combined force of 3 systems, namely: (1) "Financial Nexus" - Provides regular updates on your outstanding car loan, installment payment and refinancing options. Also provides competitive multiple insurance quotes 1 month prior to insurance renewals. (2) "Maintenance Nexus"- Provides you location detection services on the nearest car repair and servicing workshops nearest to your location. Provides promotional rates to annual car inspection and evaluation services. Provides you information and recommendations on car modification and enhancement. (3) "VIP Concierge Nexus" - Life Long VIP Concierge service for car valuation, Assisted Insurance Renewals, Auctioning facilities," said Fu.

sgCarMart Connect is also the exclusive finance partner of sgCarMart.

COMPANY PROFILE

Name of the company: SCMC Pte Ltd
Founder/Founders: Jijin Fu
Website: connect.sgcarmart.com
Major Investors: CH Holdings
Total funding at hand: Around 800,000
Target fund: 2 million
Source of funding: Private Investors, Angel Investors, Institution Investor
Start of operation: Jul 2011 (Incorporated) Phase 1 Official Launch in March 2012

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