“VAC READY STOCK” & “READY STOCK” CAR - WE TEACH YOU HOW TO ASK YOUR CAR DEALER!
The parallel import (PI) car market is well-known for its bad reputation. However, despite many negative experiences and false promises that car buyers experience with PI car dealers, Singaporeans still flock to them to purchase their cars due to the much attractive pricing structures and a wider selection of cars.
So if you are of one of them and you need to purchase a car as soon as possible. You will be very inclined to buy from a PI car dealer who is able to offer you a “VAC Ready Stock” (VITAS APPROVAL Code) car or a “Ready Stock” car. But do you know that there is a difference between these 2 terms?
A “VAC Ready Stock” car by definition means that the car has gone through all the needed paperwork and checks by LTA. All that is left is a piece of COE and the registration of your vehicle which can be registered online and your car can be on-the-road immediately.
All cars have to go through checks by LTA before it can be driven on the roads. This will take around 1 month and is subjected to queue conditions. At this stage, your vehicle is not considered a “VAC Ready Stock” car but merely a Ready Stock car and you will need to wait for a longer period of time before you are able to drive your car off the showroom. Knowing these differences is key to ensuring that you get your new car as soon as possible after placing a deposit with your PI car dealer of choice.
So how do you verify that your PI car dealer truly has a “VAC Ready Stock” car as he claims? Besides making sure that everything is in black and white and checking on the PI’s reputation online. How do you ensure that you have a worry and hassle free car buying experience before you place your deposit with them? Is there a sure fire way to tell?
You bet there is! Straight from Venture Cars Singapore - a parallel import car dealer, we are going to tell you what to question your PI car dealer when he tells you that he has a “VAC Ready Stock” car.
- Ask For The "Bill of Lading"
- Ask For The "Cargo Clearance Permit"
- Ask For The "Inspection Letter" From LTA
The "Bill of Lading" (BL) is a receipt from the shipping company to acknowledge that there is a shipment of cargo to the company. This piece of paper will tell you what cargo is on the ship enroute to Singapore and it is a sign that your PI car dealer has stocks coming into his showroom.
- Consignee: Check that the consignee is your PI car company’s name
- Port of destination: Check that the port of destination is “Singapore”
- Freight: Check that the freight is from the country of origin and the date of departure of the vessel
- Check the that BL is issued from the country of origin.
Pro Tip : Check if the consignee listed is the name of the PI car company you purchased from. If it is not, then you are most likely purchasing your car from a reseller rather than a direct importer. LTA only deals with direct importers when there is a vehicle recall. A car reseller will have to liaise with their direct importer to deal with their customers’ car recall. This would mean longer waiting time in getting your car fixed. At Venture Cars, we are the direct importers of our own cars, affected vehicles will be rectified immediately and directly by us as we liaise directly with the car exporters in Japan.
When your vehicle reaches the shores of Singapore, your PI car dealer is not able to drive the car away immediately. A "Cargo Clearance Permit" has to be submitted to Singapore customs for approval. Once it is approved, your PI car dealer is then authorised to tow the vehicle back to his office.
A "Cargo Clearance Permit" will tell you that the car is in the showroom or enroute to his showroom.
- Take note of who is the importer
- Take note of the validity period
Though the car is now in the showroom, still you are unable to drive the car yet, the vehicle needs to be inspected by Land Transport Authority (LTA) before it can be driven on the road. This piece of paper will tell you that your PI car dealer has submitted the application for inspection/approval and that all documents submitted are accepted by LTA.The last stop now will be a physical inspection of your car by VICOM, STA or JIC.
4: Ask For The "Letter of Approval"
This is by far the most important proof that the stock you are buying is indeed a “VAC Ready Stock”. All you need to do is to ensure that the make and model and chassis number of the vehicle you are buying is reflected in this letter. It signifies that your vehicle has passed the LTA checks and it is ready for registration. With this piece of paper, all your vehicle need is the securing of COE and the registration of vehicle online to get it on the road.
Having all the above paperwork would mean that the car is indeed a “VAC Ready Stock” car and you can be sure that your car delivery is soon and guaranteed. Getting your car on the road is a tedious and complicated process, choosing the right PI car dealer will make a difference in your car buying experience. We hope that this blog article is useful and will assist you to make a smarter decision when purchasing your car.
Key takeaway: Always ask your parallel import car dealer for relevant documents as proof and always ask if their cars are "VAC Ready" or "Ready Stock" cars.