Vietnam’s first-ever car market, Sago Auto opened at the intersection of Nguyen Dinh Chieu and Mac Dinh Chi in Ho Chi Minh City’s District 1 on July 13.
The venue covering on an area of nearly 5,000 m2 displays about 100 4-7 seat vehicles. Buyers can find used cars and new cars and the car reviews and information at the fair.
Sellers can hire a stand at a cost of VND100, 000 (US$4.5) a day to showcase their cars.
The car market creates advanced conditions for direct purchases between the buyer and the owner.
Payment is implemented via a bank transfer in which buyers will send money to an escrow account. After the car ownership and documents related to the vehicle have been transferred to the buyer, the money will then be wired to the seller’s bank account.