MAS Imposes Financing Restrictions on Motor Vehicle Loans
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detach8
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Call me shallow, but I really think so. The world is not as complicated as it seems. As long as there is no leverage, prices of things would be so much cheaper.
Imagine if you had to pay full cash for a house. Will we still have $800K HDBs?
The government is set to reduce the price of COE -- not to the 2008 levels, but to maybe 2010-2011 levels, around S$30-60K. For once, I think this measure is positive.
I'm sure they saw the high number of to-be-scrapped cars coming in 2015/2016. When COE prices drop, this will make people rethink whether to scrap and buy new or renew COE. If I had to down 50K for a new car + take a loan, or just pay 50K to renew COE, which would I choose? It is quite smart, IMHO. I give this credit to the policy maker.
If people really end up renewing COE it has BOTH an environmentally positive effect (cars are driven longer and less wastage) and also a net gain on tax profits, i.e. they don't have to refund you the 50% ARF. Also boosts used car market so it makes people want to own used car more. With that I would like to see them tightening the regulation for used cars.
The government will make part of that additional revenue back from the increase in ARF since the cash rich can still afford to pay a lump sum cash. Those blokes buying Ferraris pay a lot of money in ARF!
Even riches like our uncle wobbles won't plonk such amounts of cold hard sweaty cash on a car. What makes you think a lot of other rich people will?
Now, let's shift our attention back to the property market...
Shev;960285 said:
Call me shallow, but I really think so. The world is not as complicated as it seems. As long as there is no leverage, prices of things would be so much cheaper.
Imagine if you had to pay full cash for a house. Will we still have $800K HDBs?
The government is set to reduce the price of COE -- not to the 2008 levels, but to maybe 2010-2011 levels, around S$30-60K. For once, I think this measure is positive.
I'm sure they saw the high number of to-be-scrapped cars coming in 2015/2016. When COE prices drop, this will make people rethink whether to scrap and buy new or renew COE. If I had to down 50K for a new car + take a loan, or just pay 50K to renew COE, which would I choose? It is quite smart, IMHO. I give this credit to the policy maker.
If people really end up renewing COE it has BOTH an environmentally positive effect (cars are driven longer and less wastage) and also a net gain on tax profits, i.e. they don't have to refund you the 50% ARF. Also boosts used car market so it makes people want to own used car more. With that I would like to see them tightening the regulation for used cars.
The government will make part of that additional revenue back from the increase in ARF since the cash rich can still afford to pay a lump sum cash. Those blokes buying Ferraris pay a lot of money in ARF!
Even riches like our uncle wobbles won't plonk such amounts of cold hard sweaty cash on a car. What makes you think a lot of other rich people will?
Now, let's shift our attention back to the property market...
wt_know
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
really must learn the skill from govt.
wait until coe near $100k ... collected more than $2B coe then chut pattern
chut pattern also must make more money from arf and then coe drop make hero ... huat ah!
ok, now back to property ... more money to be made ... double huat.
car and property tax contribute how much to fy12/13 surplus huh
really must learn the skill from govt.
wait until coe near $100k ... collected more than $2B coe then chut pattern
chut pattern also must make more money from arf and then coe drop make hero ... huat ah!
ok, now back to property ... more money to be made ... double huat.
car and property tax contribute how much to fy12/13 surplus huh
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Red_Bean_Bun
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
WS all huat ..... second hand car a lot no more warranty ..... will all mod.
WS all huat ..... second hand car a lot no more warranty ..... will all mod.
sandman369
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Many Singaporeans are really cash rich
wobbles;960304 said:
Many Singaporeans are really cash rich
Baby1M
Well-Known Member
Re: Budget 2013 Arf, Omv or watever u call it
Who is there now? Time running out soon
Link: Car showrooms stay open till midnight in the wake of Budget announcement
Shirt Article:
Car showrooms along the Alexandra Road stretch stayed open till midnight on Monday, after Deputy Prime Minister Tharman Shanmugaratnam announced in his Budget speech earlier in the day that owners of luxury cars will have to pay higher tax rates.
Performance Motors, which distributes the BMW brand of cars, sent out text messages to its customers informing them that it was taking orders till midnight.
"Loans will be capped at 50 per cent, minimum five years, with effect from tomorrow," the text message said.
Besides BMW, other European marque showrooms such as Jaguar, Volkswagen and Volvo also extended their opening hours on Monday night.
Who is there now? Time running out soon
Link: Car showrooms stay open till midnight in the wake of Budget announcement
Shirt Article:
Car showrooms along the Alexandra Road stretch stayed open till midnight on Monday, after Deputy Prime Minister Tharman Shanmugaratnam announced in his Budget speech earlier in the day that owners of luxury cars will have to pay higher tax rates.
Performance Motors, which distributes the BMW brand of cars, sent out text messages to its customers informing them that it was taking orders till midnight.
"Loans will be capped at 50 per cent, minimum five years, with effect from tomorrow," the text message said.
Besides BMW, other European marque showrooms such as Jaguar, Volkswagen and Volvo also extended their opening hours on Monday night.
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
COE down... but no use... govt increase ARF... take back from the other end... very smart...
wt_know;960179 said:if coe can jerk down to $30K ... ok leh ...
the problem is ... if coe remains at $70k-ish to $90K ... jiak sai liao
COE down... but no use... govt increase ARF... take back from the other end... very smart...
Soifon
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
In addition...
Tharman announced excise duties for Beedies, Ang Hoon and smokeless tobacco to increase by 25%.
MDA bans more porn sites to help encourage people to meet opposite sex and start a family.
Everything's a conspiracy!
In addition...
Tharman announced excise duties for Beedies, Ang Hoon and smokeless tobacco to increase by 25%.
MDA bans more porn sites to help encourage people to meet opposite sex and start a family.
Everything's a conspiracy!
