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https://www.asiaone.com/singapore/m...pay-10k-damage-rented-bmw-says-he-only-has-10

singapore

Man allegedly refuses to pay for $10k damage to rented BMW, says he only has $10​

Man allegedly refuses to pay for $10k damage to rented BMW, says he only has $10

Ang (left) speaking to the man who rented the BMW.
PHOTO: TikTok/mcwell.mvauto
PUBLISHED ON April 02, 2025 10:16 AMByHoon Jeng Jee

A man who allegedly caused $15,000 worth of damages to a rented BMW car refused to pay for the repairs, claiming he only had $10 in his bank account.

In a TikTok video posted on March 21, MV Auto sales manager Darren Ang shared footage from his interaction with the man, stating that it had been two months since the accident.

However, there was "radio silence" and "zero compensation" from the car renter, who was referred to as X in the video.

Speaking to AsiaOne, Ang said no payment had been made as of April 1.

"We want to put it out there, and to let people know that there are consequences for their actions," Ang said. He declined to share more information about the debtor, citing legal reasons.

In the TikTok video, X can be heard saying that the car skidded and hit a divider. When MV Auto checked the car, they found damages to the radiator, engine and gearbox estimated at around $12,000 to $15,000 in total.

Ang said they were willing to absorb $5,000 while X would only have to pay $10,000, which could be spread over six months.

X was allegedly agreeable to the arrangement, but when Ang asked for the first payment for $3,500, X said he didn't have the money.

X even showed his bank account on his phone and said he only had $10.

When Ang said X had no choice but to pay, the latter stood up and exclaimed: "I cannot pay already, what do you want me to do?"

Ang said X made a huge fuss, so they calmed him down and told him to go and get the money first. However, "nothing happened" after that, said Ang.

He said he then engaged a debt collection service, which went to X's house and attempted to contact him, but to no avail.

Ang told AsiaOne that MV Auto is working with lawyers and are in the process of sending X a letter of demand to initiate the claim process against him.

"That's how serious we are," Ang said. "[We've already lost] money right, but it’s ok, we’ll throw more money into it."

MV Auto's TikTok video has garnered over 100,000 views as of April 1.

Some netizens questioned in the comments whether MV Auto could claim insurance for the damages.

The company replied that the total loss, driver's negligence, late report, lack of photo and video evidence meant that it could not claim damages.

Ang said MV Auto is in the midst of implementing new procedures to “screen” potential hirers and are considering the various suggestions given by their followers on TikTok to avoid similar incidents.
 
SINGAPORE
PUBLISHED:
28 DAYS AGO
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photo-by-john-t-on-unsplash.jpg.webp

Photo by John T on Unsplash

Singapore ranks top choice for high net worth individuals: report​

Single Family Offices in Singapore have increased to 1,650 from 400 in 2020, as of 2024.

Singapore ranks as the top location for new residencies amongst high-net-worth (HNW) individuals globally, according to HSBC.

In its Global Wealth Hubs Report, HSBC said the robust financial infrastructure, business-friendly regulations, and high quality of life in the city-state continue to attract entrepreneurs and investors looking for stability and growth opportunities.

The firm also noted its favourable wealth management policies, which have led to a surge in Single Family Offices (SFOs).

The number of SFOs in Singapore has increased to 1,650 from 400 in 2020, as of 2024, demonstrating the growing importance of the country as a private wealth hub.

Many HNW entrepreneurs from China (20%) and Hong Kong (24%) have a second residency in Singapore. It also ranks as the top destination globally for HNW individuals aged 35-44 seeking relocation.

Singapore is also a major recipient of wealth inflows, particularly from India, Hong Kong, mainland China, and Taiwan. Around 19% of Indian entrepreneurs and 15% of Taiwanese entrepreneurs surveyed are planning to move assets to Singapore.

In addition, it said that its climate initiatives such as ImpactSG and Temasek’s TT Foundation Advisors are positioning Singapore as a leading hub for philanthropy.

Despite its appeal, residency approvals are becoming more stringent, leading to longer processing times for UHNW applicants. Additionally, rising property prices remain a challenge due to high demand from both local and international investors.
 
This is why I always steer clear of rental cars in SG, which are usually driven by low SES individuals who lack practice since they do not drive daily. Why rent a BMW when he knows that he does not even have enough money to pay for a tyre on the car? He probably wanted to show off to a woman that he is a BMW owner. After causing up to $15,000 worth of damages, he is exposed as a near bankrupt with only $10 to his name.
 
MV Auto must check that potential hirers have at least $10K in their bank account. That hirer only had $10 to his name after leasing that BMW and topping up the gasoline for his hot date.
 
MV Auto must check that potential hirers have at least $10K in their bank account. That hirer only had $10 to his name after leasing that BMW and topping up the gasoline for his hot date.
Sounds like me. Oops. It could be me.
 
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