Kangadrool Supersonic February 25, 2013 Share February 25, 2013 give more overtrade to get 50%-60% loan? lolz Overtrade, "balloon" scheme, "helicopter" scheme and maybe now, "space shuttle" financing scheme. ↡ Advertisement Link to post Share on other sites More sharing options...
Benarsenal Turbocharged February 25, 2013 Share February 25, 2013 I want to see how many "cash rich" people there are. I don't believe they are the majority of car buyers. Link to post Share on other sites More sharing options...
Yeshe Turbocharged February 25, 2013 Share February 25, 2013 Actually, 40-50% DP is sup sup water lah. ok I haolian.... hahaha knn, wat 40 or 50%? simi si loan? cash all in lah [laugh] Link to post Share on other sites More sharing options...
Porker Turbocharged February 25, 2013 Share February 25, 2013 I have one friend here who's cash rich. He likes to eat red bean bun with tea in Tokyo Link to post Share on other sites More sharing options...
13177 Supersonic February 25, 2013 Share February 25, 2013 then buy 50k car lor Even buy 50K car also need to downpayment about 30K cash le! Link to post Share on other sites More sharing options...
Longg8 Clutched February 25, 2013 Share February 25, 2013 You are thinking exactly what i am thinking! everybody think like that, then it wont happen... haha.. Link to post Share on other sites More sharing options...
Yeshe Turbocharged February 25, 2013 Share February 25, 2013 Now I wanna take 100% loan for an M6 also cannot liao. Man life sucks knn, later throttle suan u then u know [laugh] Link to post Share on other sites More sharing options...
Wt_know Supersonic February 25, 2013 Share February 25, 2013 (edited) the next 1-2 coe bidding will show true color ... let's see bmw/merc/audi/vw entry level car buyer can fork out $80k-$100k cash I want to see how many "cash rich" people there are. I don't believe they are the majority of car buyers. Edited February 25, 2013 by Wt_know Link to post Share on other sites More sharing options...
Jj5599 1st Gear February 25, 2013 Share February 25, 2013 What about second hand car financing? Subject to this new rule? Link to post Share on other sites More sharing options...
Porker Turbocharged February 25, 2013 Share February 25, 2013 knn, later throttle suan u then u know Suan me cannot qualify for the loan Link to post Share on other sites More sharing options...
Vhtfhwlego Supercharged February 25, 2013 Share February 25, 2013 Coe drops to $20k, I should have no problems to buy my latest dream car GT86. Omv $30k, arf $24k, Coe $20k = $74k. Dealers mark up $15k = $89k. D/p $50K, balance $49k / 5 years = monthly $1k. Much better then $220k / 10 years. Link to post Share on other sites More sharing options...
Kelfinity 1st Gear February 25, 2013 Share February 25, 2013 I want to see how many "cash rich" people there are. I don't believe they are the majority of car buyers. If we apply the same outcome to properties post measures here, COE will not crash unless the target group is in reality different. Link to post Share on other sites More sharing options...
PengYou Clutched February 25, 2013 Share February 25, 2013 I say this policy is fierce, but good, unfortunately it does not warrants a perfect rating as it will still benefit mid to high income group. I guess no-where in the world will have a policy that benefits all levels in terms of car ownership.. especially the lower income group. Maybe thailand?? Lets wait and see for the next 2 bidding on the effects. I believe this is the good work of pretty minister teo , not that of lousy uncle Liu.. Link to post Share on other sites More sharing options...
Macrosszero Turbocharged February 25, 2013 Share February 25, 2013 Since when was it a God-given right for the lower-income to own cars? Its not as if there wasn't public transport even if it is not perfect, it is an alternative. I said before and I will say it again, no matter what system you have, or how you tweak it, the truly rich will not be affected. This is free market and this is means-based possession. What it does is to take the wannabes out of the picture. Makes them save up for their cars, but well, they would have spent it on servicing their loans in other things, like home renovation, installment payments for furniture, tour packages or something else. Yes, I applaud, but its because I have spent within my means, have the cash on hand to spend, and resisted the urge to chase the COE train that was rapidly leaving the station. Link to post Share on other sites More sharing options...
Zxcvb Turbocharged February 25, 2013 Share February 25, 2013 So where are the statistics of car owners taking how much loan and for how long for the past 5-10 years?? I'm sure MAS come to this new ruling after taking consideration of the past statistics. Anyone?? Link to post Share on other sites More sharing options...
Alheych 6th Gear February 25, 2013 Share February 25, 2013 This type is LPPL system leh.... high COE.... only lich people can afford..... now change to 50% cash upfront..... and COE crash.... also lich people can afford... diff is, the lich people now laughing cause they spend lesser to get the car.... end result, still same... only this time the lich people happier..... WTF.... scrap and ban cars... all ride bicycle.... ..... confirm no financial burden...... now gahmen can say, "don't say we never help you, now prices drop alr, you still cannot afford, then you shouldn't be driving" to a certain extent it is true. if one needs to max out 10 years loan, one probably shouldn't have car ownership as a priority. Link to post Share on other sites More sharing options...
Mllcg 3rd Gear February 25, 2013 Share February 25, 2013 COE will definately crash... by how much is still yet unknown Link to post Share on other sites More sharing options...
Mllcg 3rd Gear February 25, 2013 Share February 25, 2013 now gahmen can say, "don't say we never help you, now prices drop alr, you still cannot afford, then you shouldn't be driving" to a certain extent it is true. if one needs to max out 10 years loan, one probably shouldn't have car ownership as a priority. no car, no house=no kids. ↡ Advertisement Link to post Share on other sites More sharing options...
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