MAS Imposes Financing Restrictions on Motor Vehicle Loans
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Darth Vader
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
if your new car omv more than 50k,confirm you are rich.
cannot bluff people you are poor anymore by saying 100% loan.
if your new car omv more than 50k,confirm you are rich.
cannot bluff people you are poor anymore by saying 100% loan.
wobbles
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Taking 100% loan is like slapping one's face to pretend one is meaty. Sorry for the mangling of the Chinese proverb, but this terminal cannot type Chinese characters...
Actually, this 50% down payment on a car - to me anyway - is a damn good thing. It forces the potential buyer to practice financial prudence. A car is like the worst investment (if you can even call it that) anyone can make in Singapore.
Taking 100% loan is like slapping one's face to pretend one is meaty. Sorry for the mangling of the Chinese proverb, but this terminal cannot type Chinese characters...
Actually, this 50% down payment on a car - to me anyway - is a damn good thing. It forces the potential buyer to practice financial prudence. A car is like the worst investment (if you can even call it that) anyone can make in Singapore.
wobbles
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Does MAS keep records on such cases?
Anyway, I took a deep breath and inhaled the sweet scent of freedom earlier this month - now, I don't owe the banks shit for the car, and I aim to keep it that way until COE renewal time.
Now, if only I can say the same for the broke-back-breaking 30 year mortgage on the house... KNN
Does MAS keep records on such cases?
Anyway, I took a deep breath and inhaled the sweet scent of freedom earlier this month - now, I don't owe the banks shit for the car, and I aim to keep it that way until COE renewal time.
Now, if only I can say the same for the broke-back-breaking 30 year mortgage on the house... KNN
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Smart moves -
1) answer to calls for lower COE
2) Higher tax collection from the rich
3) Put up huge obstacles for middle class to change new cars after years of record COE supply, so LL these people either give up or pay a more affordable QP to extend beyond 10 years..Now even if COE number down but QP collection will go up...All pockets ringing $$...They are smart when it comes to bringing $$ no doubt about it...
Smart moves -
1) answer to calls for lower COE
2) Higher tax collection from the rich
3) Put up huge obstacles for middle class to change new cars after years of record COE supply, so LL these people either give up or pay a more affordable QP to extend beyond 10 years..Now even if COE number down but QP collection will go up...All pockets ringing $$...They are smart when it comes to bringing $$ no doubt about it...
wobbles
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Of course lah! Hearsay Mini$tar's bonuses pegged to GDP & how much Garhmen vacuums into its coffers what... So, logically, it stands to reason that the more $$$ is sucked in from us, the bigger the bonuses paid to the Mini$star, right? HUAT AH!
basker;960839 said:
Of course lah! Hearsay Mini$tar's bonuses pegged to GDP & how much Garhmen vacuums into its coffers what... So, logically, it stands to reason that the more $$$ is sucked in from us, the bigger the bonuses paid to the Mini$star, right? HUAT AH!
Darth Vader
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
you are one lucky dude.
dont laugh when i tell you mine is 50 year mortgage.
i dont think i will live to see it through.
you are one lucky dude.
dont laugh when i tell you mine is 50 year mortgage.
i dont think i will live to see it through.
wobbles;960836 said:
matrock
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
To me , this is just another chess move en route to the next GE , same as the senseless property tax increment for non-owner staying properties which will be implemented on 2014 and 2015 .... When GE is nearing , garment will removed this LTV thingy n increase COE quota. Than once again , Pple rejoice and HAIL PAP .
So if u can tahan.... Wait till 2015
To me , this is just another chess move en route to the next GE , same as the senseless property tax increment for non-owner staying properties which will be implemented on 2014 and 2015 .... When GE is nearing , garment will removed this LTV thingy n increase COE quota. Than once again , Pple rejoice and HAIL PAP .
So if u can tahan.... Wait till 2015
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wobbles
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
While I don't disagree that the garhmen would obviously wanna tweak certain things to its advantage one way or another (be it fattening up its coffers for "a rainy day" or winning the next GE), I gotta say that, although the new property tax structure (and the new car tax structure) affect me personally, I am all for it.
Don't get me wrong - I'm nowhere near the top 1% earners in Singapore, but I've been lucky/blessed to have made good in life - and given my slightly left-centrist point of view, I'm all for giving a little something back to society by way of progressive taxes that target the more well off.
matrock;960855 said:
While I don't disagree that the garhmen would obviously wanna tweak certain things to its advantage one way or another (be it fattening up its coffers for "a rainy day" or winning the next GE), I gotta say that, although the new property tax structure (and the new car tax structure) affect me personally, I am all for it.
Don't get me wrong - I'm nowhere near the top 1% earners in Singapore, but I've been lucky/blessed to have made good in life - and given my slightly left-centrist point of view, I'm all for giving a little something back to society by way of progressive taxes that target the more well off.
Darth Vader
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
uob ? they read my palm and told me i can live till 100.
uob ? they read my palm and told me i can live till 100.
wobbles;960852 said:
John136888
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
See what the creative car dealers and agents will come up with....
上有政策，下有对策, sometime I think those guys are better than the ministers, no need to pay them high salaries + bonus, but creative enough to tackle problem with good good solution. How you corner them, they counteract swiftly and swee swee.
Wonder if 1 of those guys will to put on transport seat or housing seat, what solution will they come out to tackle current hot topics.
See what the creative car dealers and agents will come up with....
上有政策，下有对策, sometime I think those guys are better than the ministers, no need to pay them high salaries + bonus, but creative enough to tackle problem with good good solution. How you corner them, they counteract swiftly and swee swee.
Wonder if 1 of those guys will to put on transport seat or housing seat, what solution will they come out to tackle current hot topics.
