MAS Imposes Financing Restrictions on Motor Vehicle Loans

[Reeve]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

the next COE bidding will see both Cat A and Cat B chiong like crazy , esp Cat B. Alot of ppl went in to buy bigger cars becos of the lower COE. And all major dealers like C&C, VW, PML, Eurokars all have their own in house finanical not effected by the New MAS ruling. The sales staffs told me they can loan up to 95% up to 10yrs loan only 1.99% to 2%. LOLZ

The new MAS ruling is not going to work until they close this loop holes.

 

[Darth Vader]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

government want to collect more tax revenue from ARF and also want $100k coe, i guess they have achieved their objectives.

 

[masschaoz]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

the next COE bidding will see both Cat A and Cat B chiong like crazy , esp Cat B. Alot of ppl went in to buy bigger cars becos of the lower COE. And all major dealers like C&C, VW, PML, Eurokars all have their own in house finanical not effected by the New MAS ruling. The sales staffs told me they can loan up to 95% up to 10yrs loan only 1.99% to 2%. LOLZ

The new MAS ruling is not going to work until they close this loop holes.

Eurocars as in Stuttgart as well??

I don't mind changing to Porsche and lower my installments.. Lol!

 

[flyboy]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Went to Audi yesterday, giving good discounts for cars YOM12.... A7 with a huge discount of 59K, with a COE rebate at 50K.

Good news for new car buyers... LPPL for trade-in cars because the trade-in value is very low... zero-sum game.

Like what Reeve said, another bull-run for COE. Audi have alot of orders to fulfil, but they have 6 bidding to play with... so they will also bid carefully

 

[Reeve]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Eurocars as in Stuttgart as well??

I don't mind changing to Porsche and lower my installments.. Lol!

Yes bro that is what i was told when i was at the Porsche opening party last friday. By the way, you went ? the party was good and happening. Free flow of drinks and Russian chickadees haha

 

[masschaoz]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Yes bro that is what i was told when i was at the Porsche opening party last friday. By the way, you went ? the party was good and happening. Free flow of drinks and Russian chickadees haha

No I didn't go.. I went to the showroom earlier in the month to try the boxster S. the SE never mention about it.. Lol.

 

[Reeve]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

No I didn't go.. I went to the showroom earlier in the month to try the boxster S. the SE never mention about it.. Lol.

nice, what is the boxster S OMV ?

 

[masschaoz]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

nice, what is the boxster S OMV ?

Was told its 80+k.. Saw a used unit now for sale is about 81k.. Think it's around there

 

[Reeve]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Was told its 80+k.. Saw a used unit now for sale is about 81k.. Think it's around there

based on New ARF calculation after the new tax it will be 116,000k

The tiered ARF structure is as follows, in a statement released by the Land Transport Authority (LTA) on Monday:

Vehicle OMV

ARF Rate

First $20,000 of the OMV

100% of OMV

Next $30,000 of the OMV (i.e. $20,001 to $50,000)

140% of Incremental OMV

Remaining OMV Above $50,000

180% of Incremental OMV

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

MAS already closed the loophole on financial institutes and will take effect in about 2-3 weeks. Now whole market must follow MAS new regulation

 

[Reeve]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

MAS already closed the loophole on financial institutes and will take effect in about 2-3 weeks. Now whole market must follow MAS new regulation

where did you get this info bro ?

 

[Shev]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Can check out MAS website. Dealers and AD should know also

 

[Reeve]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Bolei bro, cannot find in MAS website ??

 

[Meek]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Bolei bro, cannot find in MAS website ??

Look under regulation and guideline.

 

[masschaoz]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Look under regulation and guideline.

U guys referring to the one dated 8 march.. If that is the one it is not the revised one that amends the hire purchase act

 

[Reeve]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

U guys referring to the one dated 8 march.. If that is the one it is not the revised one that amends the hire purchase act

cannot any new rules in MAS website. I just asked Eurokars , they say only coffee shop talks nothing firm lei

 

[flyboy]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Both Audi and PML are still offering 100% loan til further advise... ie tomorrow COE bidding will be fierce...

 

[detach8]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

Funny, Wearnes told me dun have.

 

[brosiss]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

MAS already closed the loophole on financial institutes and will take effect in about 2-3 weeks. Now whole market must follow MAS new regulation

So 2 months later, COE free fall?

 

[wobbles]

Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans

So 2 months later, COE free fall?

/wobbles pray: PREASE GAWD, $1 COE, preaaaaasssseeeee!