Fabiaman 1st Gear February 25, 2013 Share February 25, 2013 MAS Imposes Financing Restrictions on Motor Vehicle Loans http://www.mas.gov.sg/en/News-and-Publicat...icle-Loans.aspx Singapore, 25 February 2013 ↡ Advertisement Link to post Share on other sites More sharing options...
Mockngbrd Supersonic February 25, 2013 Share February 25, 2013 (edited) Sibeh FIERCE http://www.mas.gov.sg/en/News-and-Publicat...icle-Loans.aspx *oops i repost* Edited February 25, 2013 by Mockngbrd Link to post Share on other sites More sharing options...
Zxcvb Turbocharged February 25, 2013 Share February 25, 2013 Finally!!! This will cut off those cash-strapped people from buying a car. Else there will be no end to the loans. The banks must be feeling very tulan now. Link to post Share on other sites More sharing options...
GPunto Neutral Newbie February 25, 2013 Share February 25, 2013 2nd hand car included? Link to post Share on other sites More sharing options...
Ender Hypersonic February 25, 2013 Share February 25, 2013 Good move, but not enough... Link to post Share on other sites More sharing options...
Ev0lutionz Clutched February 25, 2013 Share February 25, 2013 Help! If my friend wants to trade in his car, will he get a lower value? Loan hasnt been finalized yet, will the new rules apply to him as well? Thanks! Link to post Share on other sites More sharing options...
BluBlur 1st Gear February 25, 2013 Share February 25, 2013 I am thinking this CM will almost stop easily 30-50% car loans from successful approval (just a ballpark figure) Still not enough? Good move, but not enough... Link to post Share on other sites More sharing options...
Watwheels Supersonic February 25, 2013 Share February 25, 2013 Finally!!! This will cut off those cash-strapped people from buying a car. Else there will be no end to the loans. The banks must be feeling very tulan now. Ah gong own the banks, you know? Link to post Share on other sites More sharing options...
Old-driver 5th Gear February 25, 2013 Share February 25, 2013 This will kill off a lot of marginal players. Very draconian Link to post Share on other sites More sharing options...
Othello Supersonic February 25, 2013 Share February 25, 2013 wah, all the 2nd hand car dealers gonna die big time !! Link to post Share on other sites More sharing options...
Mustank Hypersonic February 25, 2013 Share February 25, 2013 I am thinking this CM will almost stop easily 30-50% car loans from successful approval (just a ballpark figure) Still not enough? Should impose on cat c too Those Mongkuts who cannot take enough loan type for cat a b type will chiong those euro van sabo cat c :angry: Link to post Share on other sites More sharing options...
Vtim 3rd Gear February 25, 2013 Share February 25, 2013 wah, like that tonight all car showroom open until very late liao Link to post Share on other sites More sharing options...
Speedsun Clutched February 25, 2013 Share February 25, 2013 wah, like that tonight all car showroom open until very late liao For what.. unless banks also open till midnight to approve the loans. Link to post Share on other sites More sharing options...
Ev0lutionz Clutched February 25, 2013 Share February 25, 2013 Eh like this will COE bubble burst??? Link to post Share on other sites More sharing options...
Fabiaman 1st Gear February 25, 2013 Author Share February 25, 2013 Its a smart move by the govt. 1. Car demand will drop overnight due to the lower LTV imposed. COE likely to drop but NEW car prices will not crash coz of the higher ARF tax imposed. 2. Resale car mkt will bear the brunt of this new LTV regulation. Very few people have $100k cash to spare on a $200k car. Conclusion.... if you in the mkt to buy a car and has $$$ sitting in the bank, go for resale as it doesnt attract the new ARF tax... and the prices will likely drop on the expected lower demand. As for Resale car sellers... good luck ! Link to post Share on other sites More sharing options...
JX83 3rd Gear February 25, 2013 Share February 25, 2013 Does this curb on new cars only? Used car loan applies too? Link to post Share on other sites More sharing options...
Watwheels Supersonic February 25, 2013 Share February 25, 2013 This will kill off a lot of marginal players. Very draconian If the economy really hit rock bottom,that is when the real killing begins. The way i see it this will help prevent it. In 97-98 financial crisis banks learn it the hard way. Default payment everywhere banks get stuck with the cars they repossess. Cannot sell them off as no demand. Plus cars are huge depreciating assets...the loss was huge. Better to stop them now dan later when it's too late. Link to post Share on other sites More sharing options...
Aaronlkl Supersonic February 25, 2013 Share February 25, 2013 Very good move! [thumbsup] ↡ Advertisement Link to post Share on other sites More sharing options...
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