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6 replies to this topic | 75 praises

#1

Posted 08 September 2017 - 12:21 PM

Bluepica
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Can I apply my own car loan for a new car instead of using those banks recommend by the SE?

Cos I see POSB offering a low interest rate for online application compare to those apply thru SE.



#2

Posted 08 September 2017 - 12:33 PM

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Can I apply my own car loan for a new car instead of using those banks recommend by the SE?

Cos I see POSB offering a low interest rate for online application compare to those apply thru SE.

You need to check as some of the AD / PI will remove the discount / rebate from the Car Price if you get your own car loan instead of using the car loan package that they offer.


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#3

Posted 08 September 2017 - 03:34 PM

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Full cash best! Need not pay interest. :D


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#4

Posted 09 September 2017 - 07:58 AM

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Can I apply my own car loan for a new car instead of using those banks recommend by the SE?
Cos I see POSB offering a low interest rate for online application compare to those apply thru SE.


From what I know, Honda n Hyundai doesn't insist on u taking loan through them n hence u can apply for this POSB loan directly yourself. For most other makes, if u don't take loan n insurance from them, car price will be higher as they won't give u the loan n insurance discounts. Hope this helps.
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#5

Posted 06 October 2017 - 09:08 PM

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Hi, this is the first post i'm making here in the forum. I'm planning to buy a used car with 2+ years left. To test the water, i tried applying online for car loan. After submission of all income documents,  I received an in principle approval from DBS. The interest rate they gave me is 1.99%.

If ever i take this loan, what happens next? 

 

 

=========

To activate this loan, email to Dbs.com'>carloanDbs.com the following:

 

  • Vehicle Sales Agreement (VSA)
  • A copy of the Seller’s Logcard
  • Declaration Form

=========

 

Assuming i have all of these documents sent out and received/approved by DBS, what happens next? Will DBS issue a check with the full amount payable to the car dealer?  or it will be DBS who will deal directly with the vendor?

 

one of the car dealer was not happy to hear that i applied on my own, one even said that LOANS/Insurance should be under them. and instead offered me to pay in CASH instead. if my point above is correct then it's just like giving them CASH, since it will be between me and dbs after that.

 

Please advise.



#6

Posted 07 October 2017 - 09:24 AM

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the car dealer wants to make from your insurance and loan bcos they get referral fees.  All are like that one.  buy direct from owner is better n u dont get into such tussle.

 

of cos pay cash is best.  All the rich people say one.


Edited by Ahbengdriver, 07 October 2017 - 09:25 AM.

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#7

Posted 07 October 2017 - 03:14 PM

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Anything also possible to discuss with SE as long as you have not inked on the dotted line. Once done, you are now at the mercy of the SE [laugh]

 

 

Can I apply my own car loan for a new car instead of using those banks recommend by the SE?

Cos I see POSB offering a low interest rate for online application compare to those apply thru SE.

 


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