MAS Imposes Financing Restrictions on Motor Vehicle Loans

[Red_Bean_Bun]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

They telling you COE drop is not for you to buy M3.........

Our populist gov tell you they tax the rich higher for the car they buying. With financial restrictions they meets the people demand for Coe to fall but now the people cannot buy because of high cash requirements.

 

[wmkok]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Interesting.
Those who wanted a luxury car will be more prone to buy a used one given new car will be much more expensive.
Existing luxury car owners may than be able get better price for their car.
With better resale value and the likely reduction in coe, existing luxury car owners may find it easier for them to get a new car.
So the outcome of the new ruling may prove to be a surprise.

 

[Oilman]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

I also think the garmen don't like so many ppl drive same cars (BMW) as them....buay song....

Actually there may be more BMWs among the new cars cos BMW OMV is notoriously low... not really affected by ARF increase :nehnehhh:

 

[wobbles]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

I'm so shallow, really. Despite all this ARF, OMV, progressive dunno what, CEV rebate simi, all I can think about is whether I can still get that 911 C4S or not.... Sigh. I'm so Singaporean, I'm almost ashamed of myself.

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

The ARF is peanuts lah. Go up by 40% just means the car depre 20% more. E.g. F10 OMV 40K now ARF is around 60K, scrap is 30K. The eventual difference is 10K nia, i.e. 1K/yr. If COE drop from current 90K to 50K, there will be immediate reduction in 4K/yr depre. That is the killer, because now those with relatively new car is worthless until a very old age. If you sell now, confirm sell for a fuckedup price. And for sure interest rates will go up. Banks will squeeze ye balls.

U really think garmen so nice to throw away all that revenue from Coe and only increase ARF which consumers will still take back partially ultimately? Not forgetting the quantity of Coe had been fixed for years down the road.

It's a mere paradigm shift from car enthusiasts buying cars to people who can really afford cars buying cars.

Coe will dive in a knee jerk reaction as everyone will adopt a wait and see attitude including the car dealers. Car dealers also dare not bid Coe for keeps but will probably bid when a car is officially sold.

But there will be a threshold when the people who can afford will come out and start buying. If garmen can take such drastic measures, they would have "calculated" the impact and we will soon be surprised by how many rich people there are in Sg.

 

[Red_Bean_Bun]

Re: Budget 2013 Arf, Omv or watever u call it

If COE don't drop ..... all jialat liao.

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

agree... just look at the property market..

U really think garmen so nice to throw away all that revenue from Coe and only increase ARF which consumers will still take back partially ultimately? Not forgetting the quantity of Coe had been fixed for years down the road.

It's a mere paradigm shift from car enthusiasts buying cars to people who can really afford cars buying cars.

Coe will dive in a knee jerk reaction as everyone will adopt a wait and see attitude including the car dealers. Car dealers also dare not bid Coe for keeps but will probably bid when a car is officially sold.

But there will be a threshold when the people who can afford will come out and start buying. If garmen can take such drastic measures, they would have "calculated" the impact and we will soon be surprised by how many rich people there are in Sg.

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

I'm so shallow, really. Despite all this ARF, OMV, progressive dunno what, CEV rebate simi, all I can think about is whether I can still get that 911 C4S or not.... Sigh. I'm so Singaporean, I'm almost ashamed of myself.

U are not alone in this. I almost bought the XJ with the mouth watering V6 3L engine over the weekend but now I can only dream.

 

[vypez]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

yes. FTs will buy car. we will lease from them. ultra win.

 

[wt_know]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

haha ... tharman will be laughing ...

hit you until you don't see it coming ... song bo

 

[porky88]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

if they do more of this... 3+ years later.. it will be voters' turn to hit them.. LOL

haha ... tharman will be laughing ...

hit you until you don't see it coming ... song bo

 

[wobbles]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

agree... just look at the property market..

Sigh, property also got higher taxes now.... Sianzzzzzzz.

 

[vypez]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

if they do more of this... 3+ years later.. it will be voters' turn to hit them.. LOL

they already long gone from this place.

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

time to queue for a hdb, lowest property tax.
and have to remember bus lanes and mrt lanes too.

Sigh, property also got higher taxes now.... Sianzzzzzzz.

 

[aceivan]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Start to mod/do up my F10 instead of changing car liao......

And also buy a new SKK44K carplate.

 

[wobbles]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Think about it.... Properties need 40% cash downpayment. Now, cars also need 50% cash downpayment.... Fantastic. Singaporeans are really super cash rich hor!

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Garmen really did not come out with the White Paper for nothing. If u cannot afford to buy a car, then next better player.

On surface it seems like they are Robin Hood. But it simply gives them less complaints when they continue to reduce Coe quota with increasing Coe prices and ultimately, more revenue.

Sorry if I am too negative on them but they have proven this sort of analysis right time and again.

 

[brosiss]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Imagine a 3 series, price at 120k in few months, down from 220k, one still have to fork out 60k cash..

I only have 10k cash how? If my trade in car can bring in 20k, I have only 30k cash.

I can buy jazz at Coe $1.

 

[tiger1]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

I'm so shallow, really. Despite all this ARF, OMV, progressive dunno what, CEV rebate simi, all I can think about is whether I can still get that 911 C4S or not.... Sigh. I'm so Singaporean, I'm almost ashamed of myself.

Reading your posts plus seeing your avatar is really super funny. Cos your pic really sums up tis latest move. Huat ahhhh

 

[Mockngbrd]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Gahmen wanto squeeze u until ur backside shit out diamonds