MAS Imposes Financing Restrictions on Motor Vehicle Loans
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brosiss
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Exactly, MAS used prudence as an excuse to implement financial restriction. Can MAS show data that percentage of Singaporeans default their medical bills before they implement compulsory Medisave with it portion out from Ordinary Account? Same stories with prudence so that you can pay medical bills.
This garmen, got reason can already. No need the substantiate with the figures and problem finding. One message they telling us with this financial restriction is that they do not want you to own cars.
Oilman;960834 said:
Exactly, MAS used prudence as an excuse to implement financial restriction. Can MAS show data that percentage of Singaporeans default their medical bills before they implement compulsory Medisave with it portion out from Ordinary Account? Same stories with prudence so that you can pay medical bills.
This garmen, got reason can already. No need the substantiate with the figures and problem finding. One message they telling us with this financial restriction is that they do not want you to own cars.
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sandman369
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
My FT friend called Singapore a dictatorship
My FT friend called Singapore a dictatorship
sandman369
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
During the good old days of max 70% 7 years loan, second hand car dealers were very creative to circumvent the min 30% downpayment.
They must be very happy with the recent change.
wobbles;960890 said:
During the good old days of max 70% 7 years loan, second hand car dealers were very creative to circumvent the min 30% downpayment.
They must be very happy with the recent change.
sandman369
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
Huh? He wasn't complaining. Don't assume. He just said SG govt implements rules with little check n balance, and he's right.
Where did that come from? Goodness....
porky88;960916 said:
Huh? He wasn't complaining. Don't assume. He just said SG govt implements rules with little check n balance, and he's right.
Where did that come from? Goodness....
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
How do you think the magical numbers of 140% and 180% of wat 30k OMV and 50k OMV came about? Pluck from the sky to help Reduce Coe so that they can get a big hit on revenue when economy not doing so well and then on the other hand, still give tax rebates etc?
This measure is definitely positive to encourage prudence in car purchase and prevent spiraling debts and possible bad debts in SG banks.
But to help reduce Coe, garmen dun really have to increase ARF? Just implement cash layout of 70% and max 30% loan over 3 years, I think many more will be deterred to buy car.
Renewing Coe will also not mean that new Coe quota will not be fully taken up. Then where is the environmental positive effect? U are forgetting the population increase here.
At the end of the day, all these numbers are worked out based on current situation and forecasted increase in population. Wat level will COE drop to before people have the appetite to buy again is really dependent on the individual but it will not drop to 20k before market start responding.
And if you attempt to compare with housing market, then it's way off the equation. Both the cost and the financing tools as well as the market dynamics are so different between these two markets.
detach8;960316 said:
How do you think the magical numbers of 140% and 180% of wat 30k OMV and 50k OMV came about? Pluck from the sky to help Reduce Coe so that they can get a big hit on revenue when economy not doing so well and then on the other hand, still give tax rebates etc?
This measure is definitely positive to encourage prudence in car purchase and prevent spiraling debts and possible bad debts in SG banks.
But to help reduce Coe, garmen dun really have to increase ARF? Just implement cash layout of 70% and max 30% loan over 3 years, I think many more will be deterred to buy car.
Renewing Coe will also not mean that new Coe quota will not be fully taken up. Then where is the environmental positive effect? U are forgetting the population increase here.
At the end of the day, all these numbers are worked out based on current situation and forecasted increase in population. Wat level will COE drop to before people have the appetite to buy again is really dependent on the individual but it will not drop to 20k before market start responding.
And if you attempt to compare with housing market, then it's way off the equation. Both the cost and the financing tools as well as the market dynamics are so different between these two markets.
sandman369
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
U have our own opinion, and I have mine. And I am not interested if u would agree.
For the record, I like the 5 year 50% loan rule and find the tiered ARF senseless.
U have our own opinion, and I have mine. And I am not interested if u would agree.
For the record, I like the 5 year 50% loan rule and find the tiered ARF senseless.
Darth Vader
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
omg!!
what happened ?
you sound like PAP talking....
omg!!
what happened ?
you sound like PAP talking....
sandman369;960924 said:
Darth Vader
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
FT not suppose to talk about sg politics, wait kena blacklisted and deported back to kampong.
sg politics for citizens only.
FT not suppose to talk about sg politics, wait kena blacklisted and deported back to kampong.
sg politics for citizens only.
sandman369;960915 said:
Singsider
Well-Known Member
Re: MAS Imposes Financing Restrictions on Motor Vehicle Loans
I'm afraid we live in a take-it-or-leave-it society. The leaders say car loans are too high, we LL. Leaders say MRT is all you can afford, we suck thumb and tap Easylink.
You voted them in, so its your responsibility to deal with it. Don't like, don't vote them in next round. No need to keep whining when you knew from the start how they do things. Implement first, explain later. 50 years of this already. They do it cos they know they can get away with it. They do it cos deep down they know we can't do sh*t to them.
And that's it. End of story.
I'm afraid we live in a take-it-or-leave-it society. The leaders say car loans are too high, we LL. Leaders say MRT is all you can afford, we suck thumb and tap Easylink.
You voted them in, so its your responsibility to deal with it. Don't like, don't vote them in next round. No need to keep whining when you knew from the start how they do things. Implement first, explain later. 50 years of this already. They do it cos they know they can get away with it. They do it cos deep down they know we can't do sh*t to them.
And that's it. End of story.
