MAS Imposes Financing Restrictions on Motor Vehicle Loans

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

i am appreciative of the benefits of our system...
but cannot afford means cannot afford what is there to empathise with? empathising with them will not help them... motivating them in the right direction will

i feel sad.. for the fact that tons of people are living well beyond their means!
the reactions to the new policies are a clear demonstration

Now I'm losing you... Did you comment abt pay now or pay later? Or was the issue abt affordability?

Ok then wat abt can afford to pay later?

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

i think people will find ways to get 50%cash like....

1) personal loan
2) renovation loan
3) study loan
4) pawn shops
5) neighbourhood friendly loan shark
6) last resort,go to resort world and war with casino.

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

i think people will find ways to get 50%cash like....

1) personal loan
2) renovation loan
3) study loan
4) pawn shops
5) neighbourhood friendly loan shark

So where's your new pawn shop? I need help...

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

it's on leverage... pay later means u don't have the money now... ie u have not earned it yet... what make them so sure they can pay it later???!!!!

ie.. living beyond their means?

you can argue the same for a property.. but that's a different asset class altogether

Now I'm losing you... Did you comment abt pay now or pay later? Or was the issue abt affordability?

Ok then wat abt can afford to pay later?

 

[MW]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Both Shev and Porky88 are not wrong, just a difference in opinions and positions on car ownership. There is a balance in both arguments. There will always be someone who thinks prudently n one who die die must have car for whatever reasons.

in the end, it's the buyer who is affected, not Shev or Porky88

and yes, Heng ahh I bought car liao!

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

if you bought your car with a coe of 92k and then suddenly coe drop to $1.
how will you feel ?

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

u can join politics.... i vote you...

Both Shev and Porky88 are not wrong, just a difference in opinions and positions on car ownership. There is a balance in both arguments. There will always be someone who thinks prudently n one who die die must have car for whatever reasons.

in the end, it's the buyer who is affected, not Shev or Porky88

and yes, Heng ahh I bought car liao!

 

[ac323]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

most people are living on future $ ?









cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

if $1 coe also cant afford to buy car, how to help ?

So where's your new pawn shop? I need help...

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

chop and confirm!!!
we are all slaves to the bank!

most people are living on future $ ?









cheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeers

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

it's on leverage... pay later means u don't have the money now... ie u have not earned it yet... what make them so sure they can pay it later???!!!!

ie.. living beyond their means?

you can argue the same for a property.. but that's a different asset class altogether

As I say,can afford to pay later....

Please dun question how sure are people that they can afford later. This is not a hypothetical question.

Anyway answer also very simple... They have monthly income which is sufficient to pay car installments lor... Dun need to make others look stupid just to make yourself look good right?

 

[MW]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Knn u all, one is arguing glass half full, the other is arguing glass half empty..there's no winner or loser. The person who drinks the water makes up his own mind whether its half full or half empty.

Then we have knn like DV who will throw a bomb question "wat if I tell you the water cannot be drunk?"


luan

 

[Cars4fun]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Interest rate for new car loan has been raised to 3.25% liao

Auto Loan, Car Loans, Low Interest Loan | DBS Bank Singapore

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

what makes them so sure they will continue to have that monthly income to service the instalments?

As I say,can afford to pay later....

Please dun question how sure are people that they can afford later. This is not a hypothetical question.

Anyway answer also very simple... They have monthly income which is sufficient to pay car installments lor... Dun need to make others look stupid just to make yourself look good right?

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

hahaha.. one answer... we boliao....

Knn u all, one is arguing glass half full, the other is arguing glass half empty..there's no winner or loser. The person who drinks the water makes up his own mind whether its half full or half empty.

Then we have knn like DV who will throw a bomb question "wat if I tell you the water cannot be drunk?"


luan

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

if $1 coe also cant afford to buy car, how to help ?

Paiseh I was actually thinking to sell off one of my cars but now will make loss instead of taking back money so need to pawn Rolex to top up....

Neigh just joking

 

[Dinosaur hunter]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

You forgot to add in "yes, Heng ahh I bought car liao!".

Knn u all, one is arguing glass half full, the other is arguing glass half empty..there's no winner or loser. The person who drinks the water makes up his own mind whether its half full or half empty.

Then we have knn like DV who will throw a bomb question "wat if I tell you the water cannot be drunk?"


luan

 

[wt_know]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

NB ... i click the link and this is the first sentence

Congratulations! You are about to start off with one of life's most exciting and memorable journey - buying your dream car.

then i see interest rate table ... i got urge to go pangsai

question to DV
buy $90k coe car, interest rate 1.88%
buy $60k coe car, interest rate 3.25% ... assuming coe down $30k

so how? what's the feeling

Interest rate for new car loan has been raised to 3.25% liao

Auto Loan, Car Loans, Low Interest Loan | DBS Bank Singapore

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

LOL.. thou u see already steam.... why go pansai.. steamulate wrong nerve?

nabei ... i click the link and this is the first sentence

Congratulations! You are about to start off with one of life's most exciting and memorable journey - buying your dream car.
then i see interest rate ... i have a sudden urge to go pangsai

 

[ktnpl]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

I agree with porky88 that it is all about good financial management. After working for 20 years, I bought my dream car with cash. I certainly could not have done it when I was in my 20s or 30s. Even the condo is fully paid although I do not belong to the top 10% of income earners. It boils down to the choices a person made earlier in his/her life that he/she becomes debt free and is able to buy a car with 100% cash, not to mention 50%.