MAS Imposes Financing Restrictions on Motor Vehicle Loans

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

coe free also no use now.

walan ehh ... effective rate of 7-8% ... song ah!

$7k-$8k interest for $100k/year

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

ok if i start saving $1k per month.
i can buy a $120k car in full in 10 years time.

fucking shit this has excalated to another lever, government tell u if u wanna owned a car and buay songthe interest rate,.den cash it dont loan.

 

[C3P0]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

If COE really comes down, it will benefit people who wants to renew the COE for their 10-year old car. Which is good because it is such a waste to see e36, e46, e60 or e39 being scrapped when some of them are still in good condition.

 

[MW]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

nobody asked about Rule of 78 penalty if within 5 years u wanna redeem the loan....hurhur

 

[kenntona]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

ok if i start saving $1k per month.
i can buy a $120k car in full in 10 years time.

Or a $60K car in 5 years time !!!

Oh wait, $60K no badge?

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

ok if i start saving $1k per month.
i can buy a $120k car in full in 10 years time.

U can buy a 240K car!

 

[wobbles]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

fucking shit this has excalated to another lever, government tell u if u wanna owned a car and buay songthe interest rate,.den cash it dont loan.

Then, IRAS will come knock knock on your door, like MP looking for AWOL NSman... HUAT AH!

 

[Red_Bean_Bun]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

As mentioned before - bank math best.

View attachment 47879

UOB also raise their interest rate oredi liao

 

[zorro]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Expected loan amount to drop by half so correspondingly the interest rate has to double to maintain current profitability.

As mentioned before - bank math best.

 

[Red_Bean_Bun]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Risk higher as they will assess where you gonna get the other 50% from. If the loan tenure is shorter then bank earn less over time. On top of that got so many other restrictions.

Raise the rates.

har??? car interest rates go up?? where the logic?
lower loan quantum= less risk...

 

[wt_know]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

aberthen ... fat bonus who pay?

Expected loan amount to drop by half so correspondingly the interest rate has to double to maintain current profitability.

 

[jawzsg]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

If COE really comes down, it will benefit people who wants to renew the COE for their 10-year old car. Which is good because it is such a waste to see e36, e46, e60 or e39 being scrapped when some of them are still in good condition.

i cant help but fall in love with this lobot ... ... intelligent

 

[zorro]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

You got to compete with Meek....

i cant help but fall in love with this lobot ... ... intelligent

 

[Doodles]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

nobody asked about Rule of 78 penalty if within 5 years u wanna redeem the loan....hurhur

what about rule 78 penalty if you redeem the loan earlier?

 

[wobbles]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Or a $60K car in 5 years time !!!

Oh wait, $60K no badge?

Wise saying: NO fish, Prawn also can.

Wiser saying: Better to have a $60K car on the road, and $6 million in the bank - badges mean shit if you have nothing to back it up.

 

[jasonmaxima]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Wise saying: NO fish, Prawn also can.

Wiser saying: Better to have a $60K car on the road, and $6 million in the bank - badges mean shit if you have nothing to back it up.

but mock said... zook xmm will still see you no up cos car not fleshy enuff....

 

[Oilman]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Aiyo... so throw face!

Asked if there had been order cancellations, a spokesman for
the Komoco group - which sells Hyundais, Chryslers and Ferraris -
said: "I'm afraid there have been some." One millionaire car
enthusiast said he cancelled the purchase of the new $1.16
million (without COE) Ferrari F12, which will cost $300,000 more
under the new rules.

 

[MW]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Aiyo... so throw face!

Asked if there had been order cancellations, a spokesman for
the Komoco group - which sells Hyundais, Chryslers and Ferraris -
said: "I'm afraid there have been some." One millionaire car
enthusiast said he cancelled the purchase of the new $1.16
million (without COE) Ferrari F12, which will cost $300,000 more
under the new rules.

Hi, tats me. Its a matter of principle for me, not really the car price or $300k increase.

 

[jawzsg]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

You got to compete with Meek....

can you help me and go run lion with Meek, so I can have lobot ..... Please ....:roll:

 

[jawzsg]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Hi, tats me. Its a matter of principle for me, not really the car price or $300k increase.

Errrr ... Oilman told me he missed out something in his earlier post ..he forgot to mentioned that it was a gay millionaires ...