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#1

Posted 03 July 2014 - 03:54 PM

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From: July 2014 Monthly Analysis: MAS to revoke loan curb

 

"Singapore's retail performance in April has been hit by yet another dive, down by nine percent compared to the same period a year ago. This is partly due to the dwindling sales performance posted by the motor vehicle segment, which plunged 36.1 percent from last year.

 

Since the inception of loan curb rules imposed by the Monetary Authority of Singapore (MAS), sales of motor vehicles have been constantly declining. The loan curb has a profound and deep impact on car buyers - especially the middle to lower income group, due to the high amount of downpayment (up to 50 percent depending on the OMV of the car) required for any car purchase.

This acts as a direct blow to the overall retail performance. And in many cases, such as during last November, retail sales would have grown if car sales were excluded.

There is no doubt that the weakening figures have clouded the overall retail outlook.

Compared to the previous loan curb, where the loan-to-value ratio was pegged at 70 percent, current rules state a maximum loan of 50 percent.

Deputy Prime Minister Tharman Shanmugaratnam has reaffirmed that although the new loan rules are 'harsher' than before, the Government is well aware that there are people who really need a car, and hence, the loan curb will only be temporal.

In addition, with an influx of COE supply expected in the following months, premiums may hit a new low. Recently, we have seen various implementations by the Government to iron out fluctuations in COE prices. As such, the authorities may end up loosening loan rules to drive up demand of new cars and stabilise the market.

While the previous loan curb lasted from February 1995 to January 2003 - a total of eight years - there is a possibility the current one will not last as long. "

 

The question is when will they withdraw this loan curb and is it total withdraw or partial?

I would say of all the COEs policies/changes that came out lately, this is the killer and more deadly. [rifle]

I would prefer this loan curb to stay for certain level like 30% out front down-payment and max 7 year loan.

If you can't even come out with the 30%, you jolly well save up the money and leave some for rainy days. [grin]

What do the rest of the bro and sis here think?

 

 


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#2

Posted 03 July 2014 - 04:07 PM

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From: July 2014 Monthly Analysis: MAS to revoke loan curb

 

"Singapore's retail performance in April has been hit by yet another dive, down by nine percent compared to the same period a year ago. *******

 

What do the rest of the bro and sis here think?

 

 

 

1- tell those retarded scholars in LTA to cough out their monthly pay for implementing and not enforcing.. 

2- i hate p8p....


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#3

Posted 03 July 2014 - 04:16 PM

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No fair. I just paid 58k dp for my hachiroku. Now then want to change policy. I guess you could say, People Ain't Payin'


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I'd rather lose by a mile because I built my own car, than win by an inch because someone else built it for me. Your car is your story, so don't let someone else write the book.

 


#4

Posted 03 July 2014 - 04:18 PM

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I think they scared then when the deregistration glut hits, the loan curbs will mean that a lot of people still cannot afford new cars due to lack of cash, even if LTA exercises clawbacks of the coe quotas so try and smoothen out the supply cycle.

 

Basically they scared COE nosedive to $1 and their cashcow go into ICU.

 

Revenue is the top priority.


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#5

Posted 03 July 2014 - 04:18 PM

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From: July 2014 Monthly Analysis: MAS to revoke loan curb

 

"Singapore's retail performance in April has been hit by yet another dive, down by nine percent compared to the same period a year ago. This is partly due to the dwindling sales performance posted by the motor vehicle segment, which plunged 36.1 percent from last year.

 

Since the inception of loan curb rules imposed by the Monetary Authority of Singapore (MAS), sales of motor vehicles have been constantly declining. The loan curb has a profound and deep impact on car buyers - especially the middle to lower income group, due to the high amount of downpayment (up to 50 percent depending on the OMV of the car) required for any car purchase.

This acts as a direct blow to the overall retail performance. And in many cases, such as during last November, retail sales would have grown if car sales were excluded.

There is no doubt that the weakening figures have clouded the overall retail outlook.

Compared to the previous loan curb, where the loan-to-value ratio was pegged at 70 percent, current rules state a maximum loan of 50 percent.

Deputy Prime Minister Tharman Shanmugaratnam has reaffirmed that although the new loan rules are 'harsher' than before, the Government is well aware that there are people who really need a car, and hence, the loan curb will only be temporal.

In addition, with an influx of COE supply expected in the following months, premiums may hit a new low. Recently, we have seen various implementations by the Government to iron out fluctuations in COE prices. As such, the authorities may end up loosening loan rules to drive up demand of new cars and stabilise the market.

While the previous loan curb lasted from February 1995 to January 2003 - a total of eight years - there is a possibility the current one will not last as long. "

 

The question is when will they withdraw this loan curb and is it total withdraw or partial?

I would say of all the COEs policies/changes that came out lately, this is the killer and more deadly. [rifle]

I would prefer this loan curb to stay for certain level like 30% out front down-payment and max 7 year loan.

If you can't even come out with the 30%, you jolly well save up the money and leave some for rainy days. [grin]

What do the rest of the bro and sis here think?

 

 

What farking idiot wrote that article? 

 

Since when does the sales numbers of cars have anything at all to do with the loan curb?  Is that sub-normal amoeba new to Singapore or something?  

If there was anything less than "the maximum" possible number of cars being sold in Singapore - wouldn't the COE be sitting at $1?  

 

Why would MAS need to remove the loan curbs, if the loan curbs are not restricting the number of cars sold? 


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#6

Posted 03 July 2014 - 04:22 PM

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I think they scared then when the deregistration glut hits, the loan curbs will mean that a lot of people still cannot afford new cars due to lack of cash, even if LTA exercises clawbacks of the coe quotas so try and smoothen out the supply cycle.

 

Basically they scared COE nosedive to $1 and their cashcow go into ICU.

 

Revenue is the top priority.

 

best post of the thread!!!! [thumbsup]


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#7

Posted 03 July 2014 - 04:26 PM

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Revenue mah.. Stabilise the market my butt. If more ppl can afford a car, more people will bid coe and in turn cause dealer and rich fark

to play the high baller. Skali go back to 100k level again. What the fark kind of scholars idk.


Edited by Ezfaun, 03 July 2014 - 04:26 PM.

Blackyv praised this
I'd rather lose by a mile because I built my own car, than win by an inch because someone else built it for me. Your car is your story, so don't let someone else write the book.

 


#8

Posted 03 July 2014 - 04:34 PM

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is this written by an official??

 

or just some fb or hwz post?


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#9

Posted 03 July 2014 - 04:55 PM

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No fair. I just paid 58k dp for my hachiroku. Now then want to change policy. I guess you could say, People Ain't Payin'

why not fair. you should be happy that you can pay 58k. image those that paid less and take up more loan. image the interest that they are paying. it is not 1.88% it is effective 4-5% if you calculate proper. unless you can use the amount u paid to generate more than 5% profit then nothing to say.


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#10

Posted 03 July 2014 - 04:56 PM

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http://www.sgcarmart...eup.php?AID=248


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#11

Posted 03 July 2014 - 05:01 PM

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huat ah ... showroom will be pasar malam again [thumbsup]

 

$20k coe dream gone liao [:(]


Edited by Wt_know, 03 July 2014 - 05:02 PM.


#12

Posted 03 July 2014 - 05:06 PM

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Dowan lah!!!  COE still very high leh... If lift curb, it'll never go below the 50K mark!!!



#13

Posted 03 July 2014 - 05:06 PM

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Can someone please explain to me - preferably in words of one syllable...

 

How can the "dwindling" performance of car sales be the fault of "affordability" when the COE is fully subscribed each bidding exercise and it is sitting at around $60k?  

 

If the loan curbs were removed more cars would be sold?  No right? 

 

COE would be higher?  Most probably! 

 

So the FALL in TAX is now a concern when it comes to retail sales figures as a measure of economic health?  

 

Doesn't that seem strange to you. 

 

Now - I admit, I am not scholar, and perhaps I have it totally wrong - but something doesn't seem right here to me

 

 


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#14

Posted 03 July 2014 - 05:09 PM

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Can someone please explain to me - preferably in words of one syllable...

 

How can the "dwindling" performance of car sales be the fault of "affordability" when the COE is fully subscribed each bidding exercise and it is sitting at around $60k?  

 

If the loan curbs were removed more cars would be sold?  No right? 

 

COE would be higher?  Most probably! 

 

So the FALL in TAX is now a concern when it comes to retail sales figures as a measure of economic health?  

 

Doesn't that seem strange to you. 

 

Now - I admit, I am not scholar, and perhaps I have it totally wrong - but something doesn't seem right here to me

 

 

Please. Ask. Low.

http://www.sgcarmart...eup.php?AID=248



#15

Posted 03 July 2014 - 05:12 PM

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Can someone please explain to me - preferably in words of one syllable...

 

How can the "dwindling" performance of car sales be the fault of "affordability" when the COE is fully subscribed each bidding exercise and it is sitting at around $60k?  

 

 

I think they are measuring car sales base on the number of orders the dealers get. But we know not all orders get fulfilled since some will not get their COE.


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You have drunk 10 cokes, and a jug of sarsi and I don't know how.
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You will find that life is a lot more fun than it was before.

#16

Posted 03 July 2014 - 05:14 PM

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Can someone please explain to me - preferably in words of one syllable...

 

How can the "dwindling" performance of car sales be the fault of "affordability" when the COE is fully subscribed each bidding exercise and it is sitting at around $60k?  

 

If the loan curbs were removed more cars would be sold?  No right? 

 

COE would be higher?  Most probably! 

 

So the FALL in TAX is now a concern when it comes to retail sales figures as a measure of economic health?  

 

Doesn't that seem strange to you. 

 

Now - I admit, I am not scholar, and perhaps I have it totally wrong - but something doesn't seem right here to me

 

 

 

Yes I have the same question. COE nos. is constant. Loan accessibility will not affect the no. of car sold. Unless you are talking about turn-over of used car.



#17

Posted 03 July 2014 - 05:23 PM

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Shows a lack of coordination between government departments.

 

MAS has an interest in boosting retail performance.

 

LTA has an interest in curbing car population.

 

Both departments' civil servants are measured by the respective KPIs, often at the cost of the others'.


Edited by Alheych, 03 July 2014 - 05:34 PM.


#18

Posted 03 July 2014 - 05:24 PM

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great, now middle class like myself can change car liao.

 

my 8 year old getz is dying on me...


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#19

Posted 03 July 2014 - 05:24 PM

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Can someone please explain to me - preferably in words of one syllable...

 

How can the "dwindling" performance of car sales be the fault of "affordability" when the COE is fully subscribed each bidding exercise and it is sitting at around $60k?  

 

If the loan curbs were removed more cars would be sold?  No right? 

 

COE would be higher?  Most probably! 

 

So the FALL in TAX is now a concern when it comes to retail sales figures as a measure of economic health?  

 

Doesn't that seem strange to you. 

 

Now - I admit, I am not scholar, and perhaps I have it totally wrong - but something doesn't seem right here to me

 

 

 

Could be that it includes used car sales. If people can't afford to pay 50K for a 100K used car, the sales goes down.


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#20

Posted 03 July 2014 - 05:26 PM

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Shows a lack of coordination between government departments.

 

MAS has in interest in boosting retail performance.

 

LTA has an interest in curbing car population.

 

Both departments' civil servants are measured by the respective KPIs, often at the cost of the others'.

 

Yes... This common in big organisations. KPIs of different sectors often run against each other. The higher management is clueless until they see -ve outcomes either way!!

 

The more I look at it, the more I think the retail nos. are affected by used car sales. New car nos. should be better with more luxury cars sold these days.


Edited by Karu, 03 July 2014 - 05:28 PM.

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