*Produced by SilverKris for Acquired Cars*
Buying a car is a big financial decision, and in Singapore, it’s even bigger. “The Singapore car market has some of the highest gross margins in the world,” SUSS transport economist Walter Theseira told The Straits Times back in February. He added that the Land Transport Authority routinely publishes retail prices and vehicle costs with “differences in the tens of thousands of dollars” for higher-end brands.
Independent dealership Acquired Cars aims to disrupt this trend with its radical business model, serving the niche mid- to high-end luxury car market. The company is backed by passionate car enthusiasts, including rubber trading veteran Oei Hong Bie, who counts the world’s largest tire manufacturers as clients, and Druce Teo, founder of Singapore’s leading online real estate specialist Stacked Homes.
“Our business model brings some much-needed diversity and competition to the market,” explains Mike Neo, a director at Acquired Cars. “We deliver the same reliability and quality of service, while also passing down substantial savings to our clients.”
What does that mean in practice? It means, for example, that a recent client who purchased a Mercedes AMG GTC Roadster saved over S$100,000.
As radical as it is, the model seems to be working. Acquired Cars’ sales figures have doubled between 2019 and 2020 – no mean feat considering that the economy was in circuit breaker mode and most car buyers are working from home.
So how do they do it?
Sourcing exactly the car you want
The Acquired Cars showroom is stocked with some of the most sought-after, and hard-to-source luxury car models, including the McLaren GT and Aston Martin DB11.
Acquired Cars has also taken the proactive step of promoting electric vehicles, in line with increased government incentives of up to S$45,000 for electric car buyers. Among the models available are the Porsche Taycan and the Mini Electric.
More importantly, beyond the existing models, the company works to locate a customer’s desired car without hard-selling existing inventory. “Clients can be quite selective about their specifications – the rims, the interiors, the extras,” Mike explains, “and we are more than happy to help them find exactly what they want.”
Car-shopping in Suntec
Striding into their gleaming, airy office in Suntec City, overlooking Gardens by the Bay and the vast oceanfront, clients can sense right away that this is a car dealership unlike any other in Singapore. Here, they meet well-dressed salespeople across modern conference tables, going over everything from model specifications and deposit payments to after-sales warranties and repairs.
Mike says, “If they have any additional needs or concerns, we’re just a short stroll or call away. Our accessibility puts clients at ease.”
That ease isn’t just a subjective feeling. Acquired Cars understands that clients require a high degree of reassurance when purchasing high-value items, such as cars. The dealership has partnered with a local bank to hold customer deposits until the car is delivered.
Unbeatable warranty coverage
When it comes to luxury cars, repairs and maintenance can be causes of anxiety. “Many people have the misconception that only authorised dealers can service your car adequately after purchase,” Mike explains. Indeed, authorised dealers in the past could void warranties if owners took their cars to independent workshops.
But a landmark decision by the Competition Commission of Singapore in 2017 pushed to remove warranty restrictions imposed by dealers that penalised car owners. Under the new guidelines, “car dealers may void car warranties or reject claims only if the damage or defect to be claimed under the warranty is in fact caused by the independent workshops.” This has meant more choices for car-owners and more competitive pricing across the board.
And to bring those benefits to their customers, Acquired Cars partners with reputed independent workshops in Singapore, who have the expertise to service and repair luxury vehicles. Every new car is also sold with a five-year warranty backed by established global insurers, including QBE Insurance and Liberty Insurance. Mike says, “The warranty provides one of the highest coverages available in the market.”
A car-buying experience tailored to you
Acquired Cars’ level of service extends well beyond the car and the warranty. From securing a high price for a customer’s existing car to assisting them with COE bidding, road tax and other minutiae, the team frees customers from the bureaucratic pains of purchasing a car. A senior executive at a global investment bank, who recently purchased a Maserati Levante, says that his interaction with Acquired Cars was “one of the most pleasant and personalised car purchase experiences I’ve ever had.”
That high level of service means that Acquired Cars maintains only a limited and exclusive roster of customers, by invitation only. These select few enjoy after-sales support unprecedented in the Singapore market. Mike cites the example of a client who was unable to start his car when his key ran out of battery on New Year’s Eve, during a heavy thunderstorm. “We rushed to his home to retrieve his spare key and delivered it across the island promptly – that’s the level of personalised service Acquired Cars is able to provide.”
For more information please contact Acquired Cars at 9734-6989 via WhatsApp or visit the official website.