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134 replies to this topic | 542 praises

#1

Posted 28 March 2016 - 06:10 PM

sam138
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hi,

 

my car due in 3 mths time and I want to keep my spare cash for other usage at the moment instead of 1 short pay up for 5 yrs renewal

called up maybank and they said the 5yr loan for >10yrs car is only for new hire purchase, not for 5yr coe renewal
 
any bros knew which company/bank can provide 5 yr coe renewal loan and are reliable ?
 
Cheers ^^
 
 
 
 
 

 

 


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#2

Posted 28 March 2016 - 06:16 PM

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I think "COE Loan" are considered as personal loan.. Becos there's no market value in such cars, so it's unlike a new car hire purchase.. And it attracts high interest rate, not sure it's still worth to pay such amount..
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#3

Posted 28 March 2016 - 06:32 PM

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I think "COE Loan" are considered as personal loan.. Becos there's no market value in such cars, so it's unlike a new car hire purchase.. And it attracts high interest rate, not sure it's still worth to pay such amount..

 

I think the proper term is "unsecured loan". Meaning the bank has nothing to sell off to claw back any loss in the event you default.


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#4

Posted 28 March 2016 - 09:43 PM

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Correct.  Cars passed 10 years actually have lost its scrap value.  Most banks do not lend any car loan as there is no car collateral value, less whatever body value there is.  Any loan you take is basically personal loan hence int rate is very high.

 

Not worth to take such loans, might as well get another used car.


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#5

Posted 28 March 2016 - 10:05 PM

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#6

Posted 28 March 2016 - 10:15 PM

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scrap your car and get a car more than 10 yrs old

 e.g. this vios, $484 Low Monthly Installment.

 

lausai very  [scholar] hor

 

http://www.sgcarmart...=539126&DL=2469


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#7

Posted 28 March 2016 - 10:59 PM

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Finance company can loan for COE by interest is high.


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#8

Posted 28 March 2016 - 11:50 PM

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hi,

 

my car due in 3 mths time and I want to keep my spare cash for other usage at the moment instead of 1 short pay up for 5 yrs renewal

called up maybank and they said the 5yr loan for >10yrs car is only for new hire purchase, not for 5yr coe renewal
 
any bros knew which company/bank can provide 5 yr coe renewal loan and are reliable ?
 
Cheers ^^

 

Try this link:

 

http://www.sgcashnca...ntact/about-us/

 

Hope it helps. [:)]


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#9

Posted 28 March 2016 - 11:56 PM

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Sorry but seriously, if you can't even pay $20 plus K for a 5 yr Coe, you are better off without a car. Hope your are not offended.
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#10

Posted 29 March 2016 - 12:18 AM

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Sorry but seriously, if you can't even pay $20 plus K for a 5 yr Coe, you are better off without a car. Hope your are not offended.

 

cold hard truth.. if one dont have even 20k  spare cash you are really better off without a car.


Edited by Googoo, 29 March 2016 - 12:19 AM.

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#11

Posted 29 March 2016 - 07:52 AM

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Some car owners need just a b&b car to ferry old folks to and fro hospital or need the car for sales job. Not for haolian.
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#12

Posted 29 March 2016 - 08:24 AM

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Some car owners need just a b&b car to ferry old folks to and fro hospital or need the car for sales job. Not for haolian.

there are uber and taxi provide servicing at your door step. just don't make sense that one need a car to ferry old folk around.

 

if one can't even afford 20k cash to renew coe, I suggest he better to go without a car.


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#13

Posted 29 March 2016 - 08:28 AM

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Please stop cyber bully and ill critic on TS. That's not nice. When people ask for help, you guys badly pressure on other people finance. Advice for me to TS. Don't get ur self in debt. Scrap the car and get back the value then got extra money buy a 2 years or 3 years with cash. Just my cents!!!
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#14

Posted 29 March 2016 - 08:43 AM

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To each his own.

 

maybe TS prefers to have more spare cash and willing to pay some interest for it?


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#15

Posted 29 March 2016 - 08:44 AM

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Please stop cyber bully and ill critic on TS. That's not nice. When people ask for help, you guys badly pressure on other people finance. Advice for me to TS. Don't get ur self in debt. Scrap the car and get back the value then got extra money buy a 2 years or 3 years with cash. Just my cents!!!

 

Sama sama ...

Was working sum for COE renewal or get used car.

Though paying some $20-25k for 5 yrs COE don't seem a lot, the other expenses like petrol, maintenance, insurance, road tax, etc ... can easily triple the COE expense.

 

Spend within means ... best!


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#16

Posted 29 March 2016 - 09:08 AM

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sorry TS, OT a bit ....

 

If I am buying a near 10-yr car with intent to renew COE, is there a way that (a) previous owner get back PARF and (b) I just renew COE, without absorbing PARF depreciation?

 

TIA ...



#17

Posted 29 March 2016 - 09:14 AM

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scrap your car and get a car more than 10 yrs old

 e.g. this vios, $484 Low Monthly Installment.

 

lausai very  [scholar] hor

 

http://www.sgcarmart...=539126&DL=2469

Another alternative no need to upfront $20k plus cash one time, buy those cars offered at renewed coe pricing, then you can loan the amount.


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#18

Posted 29 March 2016 - 11:26 AM

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call 98587298

 

hi,

 

my car due in 3 mths time and I want to keep my spare cash for other usage at the moment instead of 1 short pay up for 5 yrs renewal

called up maybank and they said the 5yr loan for >10yrs car is only for new hire purchase, not for 5yr coe renewal
 
any bros knew which company/bank can provide 5 yr coe renewal loan and are reliable ?
 
Cheers ^^

 

 



#19

Posted 29 March 2016 - 11:34 AM

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Some car owners need just a b&b car to ferry old folks to and fro hospital or need the car for sales job. Not for haolian.

 

not saying that it's for hao lian

 

drive a renew coe car, what's there to hao lian.

 

but if money is so tight that you can't even take out 20k, then you'd be better off saving money without the car. take uber or something. 


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#20

Posted 29 March 2016 - 11:35 AM

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no

 

once renew no more parf.

 

 

sorry TS, OT a bit ....

 

If I am buying a near 10-yr car with intent to renew COE, is there a way that (a) previous owner get back PARF and (b) I just renew COE, without absorbing PARF depreciation?

 

TIA ...

 


Everybody is a genius. But, if you judge a fish by its ability to climb a tree, itll spend its whole life believing that it is stupid. Albert Einstein

HungryPaPa - https://instagram.com/hungrypapa/


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