Khang Auto

[davidtch]

Re: Khang Auto

actually, i think there is something very wrong with the business model for this PI cars warranty biz.
as per my layman understanding, they are running it like an insurance biz, ie collecting warranty fees from owners and then theoratically delivering its warranty service.
but given the occurence rate of breakdowns and/or costs of parts replacements etc.....i think its not enough to cover unless the premium charged is really substantial. given this premium to liability/claim rate, the chances of the biz going down is more or less something thats coming sooner or later.

just my 2 cents

In other countries, Insurance co sells extended warranty cover that starts from Day 1 of ownership thru AD.

 

[johnphua]

Re: Khang Auto

actually, i think there is something very wrong with the business model for this PI cars warranty biz.
as per my layman understanding, they are running it like an insurance biz, ie collecting warranty fees from owners and then theoratically delivering its warranty service.
but given the occurence rate of breakdowns and/or costs of parts replacements etc.....i think its not enough to cover unless the premium charged is really substantial. given this premium to liability/claim rate, the chances of the biz going down is more or less something thats coming sooner or later.

just my 2 cents

I agreed. I heard they only collect 800 to 1k per car from pi for the warranty. Previously coe cheap and alot of new cars sold and their rolling was smooth. They only mind quantity, even high end car they also take with that cheap premium - one car out of ten spoiled, they also can't tahan. But now coe damn ex, car less and i think this is why they jammed.

 

[zorro]

Re: Khang Auto

In Spore too..ex..Borneo Motor offer 5 years warranty with the last 2 years underwritten by AIG...

In other countries, Insurance co sells extended warranty cover that starts from Day 1 of ownership thru AD.

 

[wt_know]

Re: Khang Auto

the boss learnt a few tricks from madoff la
in a nutshell he is not smart enough ... hitmee says many workshop bosses already driving porsche lei

I agreed. I heard they only collect 800 to 1k per car from pi for the warranty. Previously coe cheap and alot of new cars sold and their rolling was smooth. They only mind quantity, even high end car they also take with that cheap premium - one car out of ten spoiled, they also can't tahan. But now coe damn ex, car less and i think this is why they jammed.

actually, i think there is something very wrong with the business model for this PI cars warranty biz.
as per my layman understanding, they are running it like an insurance biz, ie collecting warranty fees from owners and then theoratically delivering its warranty service.
but given the occurence rate of breakdowns and/or costs of parts replacements etc.....i think its not enough to cover unless the premium charged is really substantial. given this premium to liability/claim rate, the chances of the biz going down is more or less something thats coming sooner or later.

just my 2 cents

 

[kenntona]

Re: Khang Auto

actually, i think there is something very wrong with the business model for this PI cars warranty biz.
as per my layman understanding, they are running it like an insurance biz, ie collecting warranty fees from owners and then theoratically delivering its warranty service.
but given the occurence rate of breakdowns and/or costs of parts replacements etc.....i think its not enough to cover unless the premium charged is really substantial. given this premium to liability/claim rate, the chances of the biz going down is more or less something thats coming sooner or later.

just my 2 cents

This is the basis of insurance. You will be worried if your insurance company threatened to falter, as with AIG/AIA in 2009.

 

[sszone]

Re: Khang Auto

but kenn, the Khang fella, did they got any form of insurance or just pure makan warranty fees and think later with no backup insurers.
thats my main concern.

anyway OT aside, anybody got any news on them. seems very quiet.

 

[davidtch]

Re: Khang Auto

This is the basis of insurance. You will be worried if your insurance company threatened to falter, as with AIG/AIA in 2009.

The downfall of AIG is not related insurance lah.

For extended warranty to make $$, a particular marque need to have low warranty claims. Only AD can provides the necessary statistics for correct pricing.

 

[hitmee]

Re: Khang Auto

Look on the bright side

You are free to choose your ws now

 

[MW]

Re: Khang Auto

I think dun buy car better

 

[sherman0888]

Re: Khang Auto

Two weeks ago my brake actuator malfunction.. sent my car to them for warranty.Tony from Khangs attended to me.. took out my brake actuator for new gear replacement.Was told should be ready by christmas.Today i called him and he say he no longer working for khangs,and refer me to his colleague David from Mega Auto?Called Mega Auto for David twice,but cant get him on the phone...Finger Crossed...

 

[E90koh]

Re: Khang Auto

Two weeks ago my brake actuator malfunction.. sent my car to them for warranty.Tony from Khangs attended to me.. took out my brake actuator for new gear replacement.Was told should be ready by christmas.Today i called him and he say he no longer working for khangs,and refer me to his colleague David from Mega Auto?Called Mega Auto for David twice,but cant get him on the phone...Finger Crossed...

Bro, do you think your car is still with them or... ? :whatthe:

 

[sherman0888]

Re: Khang Auto

Bro, do you think your car is still with them or... ? :whatthe:

I never leave my car with them...only my brake actuator system.. Heng AR..

 

[kenntona]

Re: Khang Auto

but kenn, the Khang fella, did they got any form of insurance or just pure makan warranty fees and think later with no backup insurers.
thats my main concern.

It is the basis of collective premiums for warranties, no? Would anyone know this model would not work 2-3 years ago?

The downfall of AIG is not related insurance lah.

For extended warranty to make $$, a particular marque need to have low warranty claims. Only AD can provides the necessary statistics for correct pricing.

The issue with Khang/TWM is that it was a monopoly of sorts. No one was in the same space to provide for such warranties, both PI new cars and extended warranties for all cars. We will never know the models Khang had used in the TWM policies pricing.

This thread serves as a information platform for the warranty holders. It makes more sense to seek a positive recourse from here rather than to give hindsight views, of which I am tempted to do as well. I think there are too many victims out there ranting and lost at the same time.

I hope the resolution will be easy and swift.

 

[sherman0888]

Re: Khang Auto

Actually my experience with Khang was not that bad before... Had a few successful claims from them. Only longer waiting time ( too many cars).I actually ready to renew my warranty with them once more. But guess they are gone for good. Good Luck to all those guys (including myself) still having unsettle claims with Khang.Hope everything turn out well.
If the boss of Khang (Peter King) reading this post,MERRY CHRISTMAS and a HAPPY NEW YEAR to U.

 

[hitmee]

Re: Khang Auto

Actually my experience with Khang was not that bad before... Had a few successful claims from them. Only longer waiting time ( too many cars).I actually ready to renew my warranty with them once more. But guess they are gone for good. Good Luck to all those guys (including myself) still having unsettle claims with Khang.Hope everything turn out well.
If the boss of Khang (Peter King) reading this post,MERRY CHRISTMAS and a HAPPY NEW YEAR to U.

Sherman so nice.......

 

[sherman0888]

Re: Khang Auto

Sherman so nice.......

Thanks... Xie Xie..Dimakasi...

 

[hitmee]

Re: Khang Auto

Happy new year to you in advance
In case u run away too

 

[MW]

Re: Khang Auto

Sherman will run road if you buy package from him. You see his face u know Liao.

 

[hitmee]

Re: Khang Auto

He can run but Imcan easilybfind his gf, hum@n

 

[MW]

Re: Khang Auto

Yah cos his gf Human likes to post in FB their run lion pics orgy