MAS Imposes Financing Restrictions on Motor Vehicle Loans

[detach8]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

such intelligence lek. i agree. singaporeans r like cows with a ring round their nose... govt pull this way..cow goes this way. u only rise above it if u hv shittloads of money.

maybe 47% are horse.

 

[Mockngbrd]

Re: Budget 2013 Arf, Omv or watever u call it

highly possible.. if the demand collapse for the whole of march...
knn...make me itchy liao.. what's the omv for a 86?

i think 27k .

 

[matrock]

Re: Budget 2013 Arf, Omv or watever u call it

march still got backlogs to clear, the bomb will drop in april.
i am aiming for 20k coe.
volkswagen jetta 1.4 looks good.omv below 20k and got 10k cev rebate.
hopefully can get it for 70k......

true...but selling or trading in your car will be tough if its relatively new?

 

[porky88]

Re: Budget 2013 Arf, Omv or watever u call it

so 90k selling price possible with 20k coe....
wo lai le....

i think 27k .

 

[golfgti]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

u will be surprised how many stupid people out there who will do this..

i heard legal money lenders making good profits. theyll b first to offer "bridging" loans for car buyers i guess

 

[M-Noobie]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

i met alot ang mos in Munich they buy M5 and M3 with Full loan and Zero down payment. according to my SE. it is a common thing.

He told me more than 80% of his customer do this.

Most of them are probably FTs with a good monthly car allowance package. Do you know what is the typical loan period for them?

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

"bridging" they bridge wat??

i heard legal money lenders making good profits. theyll b first to offer "bridging" loans for car buyers i guess

 

[MW]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

I think u are all dreaming if u think car prices will crash....

 

[totoseow]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

u said it, we have high risk monitoring now which means still awhile to go before a big global crash, so what will cause less monitoring, when europe n US "recovers", SNP500 hits 1700++ etc, n the hindsight economists come out n say oi dun so kiasu lah world has recovered so go take more n more risk.

Already the first month this year saw record stock fund inflows globally from japan to USA, so we can see $$ moving from safer overbought bonds to riskier stocks.

we havent even seen US interest rates rise yet, which is the early signals of recovery, which is the beginning of the end, IMO a few more yrs.

i will argue mkts r in a better place with risk mgmt n governance now...n hence the run has been pretty out of whack. n the quality of funds coming in are of a better quality.


As with properties in terms of quality of funds

 

[Darth Vader]

Re: Budget 2013 Arf, Omv or watever u call it

huat ah
my car is 5 years 3 months old, do i fall in the sweet spot ?

true...but selling or trading in your car will be tough if its relatively new?

 

[golfgti]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

"bridging" they bridge wat??

cant afford 50%, So they bridge 25% of it n u down the other 25% to get 50% lor. same as bank personal loans

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

there are a thousand uncertainties in this world
only one thing is certain, all death are certain.

 

[totoseow]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

i will stick out n say no rates change from US for this year. taking bets.

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

wah piang... like that LPPL...
seriously got people buy in?
no offence to any one but head not so big... don't wear such a big hat

cant afford 50%, So they bridge 25% of it n u down the other 25% to get 50% lor. same as bank personal loans

 

[wt_know]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

tharman will be laughing you guys really funny thinking car will be cheap ...

I think u are all dreaming if u think car prices will crash....

 

[Singsider]

Re: Budget 2013 Arf, Omv or watever u call it

true...but selling or trading in your car will be tough if its relatively new?

Yes you can buy a cheap new car in the next few months, but if you bought a car in the last 2 years, you can probably forget it. Cos no one's buying yours (either they can't afford it or new car is way cheaper). There's gonna be a wait and see period even among those who can afford to pay cash, so COE prices may drop to less than 10k, then it picks up. But you will notice that only rich people, or those with fully paid up loans will buy. Cash is really a deciding factor when it comes to big ticket items like car and house. Take away the financing, you basically destroy the industry.

 

[kenntona]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

no offence to any one but head not so big... don't wear such a big hat

+1

The issue is the leverage given by a 10-20% downpayment scheme. $30-60K for a $300K car. Now all of a sudden a slap on the finances if they were to repeat the same spending patterns again.

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

head small cannot wear helmet meh ?

wah piang... like that LPPL...
seriously got people buy in?
no offence to any one but head not so big... don't wear such a big hat

 

[porky88]

Re: Budget 2013 Arf, Omv or watever u call it

wat if.. people looking to add another run lion.. two door coupe???
sure huat right?

Yes you can buy a cheap new car in the next few months, but if you bought a car in the last 2 years, you can probably forget it. Cos no one's buying yours (either they can't afford it or new car is way cheaper). There's gonna be a wait and see period even among those who can afford to pay cash, so COE prices may drop to less than 10k, then it picks up. But you will notice that only rich people, or those with fully paid up loans will buy. Cash is really a deciding factor when it comes to big ticket items like car and house. Take away the financing, you basically destroy the industry.

 

[detach8]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

I think car prices WON'T crash. It will simply drop by maybe 30-50K at most. You will still have to fork out somewhere along 180-190K for a small car like F30.