MAS Imposes Financing Restrictions on Motor Vehicle Loans
- Thread starter C3P0
- Start date
Darth Vader
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
1.46 million need to come out 730k cash.
go buy another condo better leh.
1.46 million need to come out 730k cash.
go buy another condo better leh.
Oilman;961319 said:
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
May not be cos the young and middle income will have problem with the $40-$50k downpayment. Toyota was selling well cos cars were cheap and loan was easy. Many people can afford the instalment but not the cash upfront. I will not down half of my savings to buy a car...
sandman369;960170 said:
May not be cos the young and middle income will have problem with the $40-$50k downpayment. Toyota was selling well cos cars were cheap and loan was easy. Many people can afford the instalment but not the cash upfront. I will not down half of my savings to buy a car...
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
imho from the questions and "feedback" posted in this thread.. it is very clear that the policies are working as intended..
folks are starting to ask
1) can i afford a car
2) do i need a car
3) i already have a car.. do i need another car
4) can i compromise and squeeze on mrt/bus and smell ft's armpits?
so who say the ruling party not smart???
imho from the questions and "feedback" posted in this thread.. it is very clear that the policies are working as intended..
folks are starting to ask
1) can i afford a car
2) do i need a car
3) i already have a car.. do i need another car
4) can i compromise and squeeze on mrt/bus and smell ft's armpits?
so who say the ruling party not smart???
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
a lot of people tend to have a problem " paying now" and prefers "paying later"
do they actually know.. their preferred way actually pays more...
unfortunately.. we need such rules to wake up our idea.... sad...
a lot of people tend to have a problem " paying now" and prefers "paying later"
do they actually know.. their preferred way actually pays more...
unfortunately.. we need such rules to wake up our idea.... sad...
maxxx;961332 said:
wobbles
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Acherly, I not in the market for a. A new car, b. An old car, c. Another car or d. Top up EZ Link for MRT. I kaypoh only - join in the discussion for fun because I have to live up to my reputation as an Internet hero.
porky88;961338 said:
Acherly, I not in the market for a. A new car, b. An old car, c. Another car or d. Top up EZ Link for MRT. I kaypoh only - join in the discussion for fun because I have to live up to my reputation as an Internet hero.
detach8
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Actually there is some truth that people do over-leverage. I personally leveraged around 70% (i.e. down 30%) for my car with a 8 year loan. Why? Because the EIR is relatively low and I rather see the money in my bank and smile at it than plonking it in a depreciating thing.
Given that now it is 50%/50% or 60%/40% I might start to consider a cheaper VW Touran when a new member of the family arrives.
Actually there is some truth that people do over-leverage. I personally leveraged around 70% (i.e. down 30%) for my car with a 8 year loan. Why? Because the EIR is relatively low and I rather see the money in my bank and smile at it than plonking it in a depreciating thing.
Given that now it is 50%/50% or 60%/40% I might start to consider a cheaper VW Touran when a new member of the family arrives.
