Originally published at: https://www.pakwheels.com/blog/pakwheels-survey-people-admits-paying-on-money/
Recently, PakWheels.com conducted an auto industry survey that included questions about cars, bikes, auto parts, accessories, services, the auto industry, and sale/purchase decisions by the people. In this detailed survey, we asked people different questions, including "ON Money," the menace which has been present in the local sale and purchase of new cars for last many years.
In the survey, we asked people whether they have paid "ON Money" or a premium for buying a new car. And here are the interesting results of this survey.
Yes! We Paid "ON Money"
As per our survey, 86% of people said they have never paid a premium; however, 12% admitted paying it for the new car. Further breakdown showed the following pattern of the "ON Money":
- Almost 27% paid less than Rs. 50,000
- 13% paid Rs. 100,000 - 150,000
- 10.27% paid Rs. 50,000 - 60,000
- 7.42% paid Rs. 90,000 - 100,000
- 7.22% paid Rs. 150,000 - 200,000
- 4.67% paid Rs. 200,000 - 250,000
Reasons
As per the participants, there are different reasons for paying the premium.
- 53% paid because they needed the car urgently for personal use
- 29% paid the "ON" to avoid future car price increases
- Meanwhile, 26% agreed to pay it for instant delivery although there was no urgency; they just wanted a new car
- And finally, 10.91% of consumers paid for miscellaneous reasons.
The issue of premium has been haunting the local car industry for quite a few years, mainly due to regular increases in prices and late deliveries. People tend to pay this amount for any future hassle, especially in case of price increase. The government has tried to control the issue; however, it seems no authority can handle it.
Furthermore, as per our sources, there is a daily rate of "ON" on different cars which circulates in the market. And this shows how deep this problem has gone. We do hope that government will take further steps to end this menace, but it will be impossible without a stable economy.
What do you think about this survey? Have you paid "ON Money"? Share your thoughts in the comments section.
