MAS Imposes Financing Restrictions on Motor Vehicle Loans
- Thread starter C3P0
- Start date
nicknick
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
One thing I dun understand abt bank, already impose a 50% upfront meaning risk for bank cut down but interest up to 3.25% :thinking:maybe is becos loan amt too less liao need increase interest rate to earn more!!!
Oilman;962637 said:
One thing I dun understand abt bank, already impose a 50% upfront meaning risk for bank cut down but interest up to 3.25% :thinking:maybe is becos loan amt too less liao need increase interest rate to earn more!!!
detach8
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
you hit the nail on the right spot. car loan is quite inelastic here so banks can squeeze consumers balls
nicknick;962713 said:One thing I dun understand abt bank, already impose a 50% upfront meaning risk for bank cut down but interest up to 3.25% :thinking:maybe is becos loan amt too less liao need increase interest rate to earn more!!!
you hit the nail on the right spot. car loan is quite inelastic here so banks can squeeze consumers balls
Slow_poke_driver
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
PML interest rate up to 3.25% already?
PML interest rate up to 3.25% already?
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Wah 78 pages so long.. my 2 cents, 5 year loan won't be a problem because you have already paid 50-60% dp. The instalment for a 5 year loan will in fact be lower than what most of us are paying today.. Not sure if this is already mentioned in earlier posts
Any idea if this rule applies to pre-owned cars as well? If it does I am guessing the price of 5 year old cars will now shoot up because everyone wants to take advantage of the max 5 year loan rule eh..
Wah 78 pages so long.. my 2 cents, 5 year loan won't be a problem because you have already paid 50-60% dp. The instalment for a 5 year loan will in fact be lower than what most of us are paying today.. Not sure if this is already mentioned in earlier posts
Any idea if this rule applies to pre-owned cars as well? If it does I am guessing the price of 5 year old cars will now shoot up because everyone wants to take advantage of the max 5 year loan rule eh..
Solidgold
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
There is a good article on today's Straits Times. Christopher Tan, the guy who gives you all the motoring news on Sat Life, wrote about the purpose of the new car curb regulations...that it did not come across clearly the rational of the rules. A good compare of what happen in 1995 did not help to slow down prices of cars nor car population growth. Since the minstar explain that it is to control financial prudence, it did not explain if the measures implemented will be applied consistently across since some of the leasing companies or Car manufacturing firms can still offer loan schemes without adhering to MAS ruling. So how will that be effective? Good read.
invaz;962773 said:Wah 78 pages so long.. my 2 cents, 5 year loan won't be a problem because you have already paid 50-60% dp. The instalment for a 5 year loan will in fact be lower than what most of us are paying today.. Not sure if this is already mentioned in earlier posts
Any idea if this rule applies to pre-owned cars as well? If it does I am guessing the price of 5 year old cars will now shoot up because everyone wants to take advantage of the max 5 year loan rule eh..
There is a good article on today's Straits Times. Christopher Tan, the guy who gives you all the motoring news on Sat Life, wrote about the purpose of the new car curb regulations...that it did not come across clearly the rational of the rules. A good compare of what happen in 1995 did not help to slow down prices of cars nor car population growth. Since the minstar explain that it is to control financial prudence, it did not explain if the measures implemented will be applied consistently across since some of the leasing companies or Car manufacturing firms can still offer loan schemes without adhering to MAS ruling. So how will that be effective? Good read.
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
One thing for sure. Maybe we will not see ppl changing car every 2-3 yr and its the workshop that will huat ah cos if we dun change car, we will mod n maintain n tune. So workshop for servicing, grooming companies n tuning house will huat. But the most huat one will be workshop that can provide facelift to bmw ESP lci f10 is on the way. All workshop haut ah........
One thing for sure. Maybe we will not see ppl changing car every 2-3 yr and its the workshop that will huat ah cos if we dun change car, we will mod n maintain n tune. So workshop for servicing, grooming companies n tuning house will huat. But the most huat one will be workshop that can provide facelift to bmw ESP lci f10 is on the way. All workshop haut ah........
wt_know
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
gonna be longer and longer Q for appt liao
just servicing and repair jiak beh liao in view that bmw past 3-4 years mark and 80k-100k milleage, parts start breaking one after another
huat ah for site sponsor ... hearsay 1 e60 repair cost already $15k
gonna be longer and longer Q for appt liao
just servicing and repair jiak beh liao in view that bmw past 3-4 years mark and 80k-100k milleage, parts start breaking one after another
huat ah for site sponsor ... hearsay 1 e60 repair cost already $15k
Terras14;962821 said:
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Darth Vader
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
coe 100k i cannot buy a new car....
coe $1 i cannot sell my old car....
LPPL
coe 100k i cannot buy a new car....
coe $1 i cannot sell my old car....
LPPL
