Zanter 3rd Gear February 26, 2013 Share February 26, 2013 those who ahve autistic, dyslexic, psychotic, moronic, single old parent, single old dog, single old wife, single wife....whatever, ask for cheap COE to buy and travel got it, now will kpkb say high expense cannot afford 50%, blah blah, write forum again....knn..... gahmen sibei smart....u wan, i gib you, fr the back, i wallop lagi hard....thank u gahmen They dont target people like you who pay in full cash la ..dont so angry ↡ Advertisement Link to post Share on other sites More sharing options...
Kar_lover Supercharged February 26, 2013 Share February 26, 2013 The hards hit of all these measures will be Vanessa, I feel her pain man. Who dat? Link to post Share on other sites More sharing options...
RadX Moderator February 26, 2013 Share February 26, 2013 They dont target people like you who pay in full cash la ..dont so angry not angry, but fedup with the ridiculous requests....ITS ALL ABT ME...attitude :angry: :angry: Link to post Share on other sites More sharing options...
Zanter 3rd Gear February 26, 2013 Share February 26, 2013 (edited) Who dat? Profile here Vanessa and here European Car. Maybe you can be white knight ley Edited February 26, 2013 by Zanter Link to post Share on other sites More sharing options...
Twnll 1st Gear February 26, 2013 Share February 26, 2013 Easy to go around the new rules. 'Normal' 5 year loan on 50% of car value. Balance 50% - Bank to offer 'bridging loans' service interest for first 5 years, then payment plus interest starts on 61st month. Collateral is the car with 10 year COE. Back to square one, ha ha! What's so difficult? One of the most stupid ruling I have seen. Link to post Share on other sites More sharing options...
Tungsl Clutched February 26, 2013 Share February 26, 2013 mati tis time Property tax rates to rise on high-end residential real estate, with largest increases to be on investment properties that are not occupied by the owner. Current tax of 10 percent will be changed to rates of 12 to 20 percent. - Tax rates to fall for majority of owner-occupied residential properties - Revised property tax structure to be phased in from January 2014 and take full effect from January 2015 - Registration fees for mid-range and luxury cars to be raised Link to post Share on other sites More sharing options...
Zanter 3rd Gear February 26, 2013 Share February 26, 2013 (edited) Easy to go around the new rules. 'Normal' 5 year loan on 50% of car value. Balance 50% - Bank to offer 'bridging loans' service interest for first 5 years, then payment plus interest starts on 61st month. Collateral is the car with 10 year COE. Back to square one, ha ha! What's so difficult? One of the most stupid ruling I have seen. Well most banks will not circumvent MAS guildlines for fear of reprisal. Of course can you take personal loans but no need to pay interest meh? Personal loans are not secured so you dont enjoy a 2% flat or 4% effective rate, more like 10%? Edited February 26, 2013 by Zanter Link to post Share on other sites More sharing options...
Bismarck Turbocharged February 26, 2013 Share February 26, 2013 Easy to go around the new rules. 'Normal' 5 year loan on 50% of car value. Balance 50% - Bank to offer 'bridging loans' service interest for first 5 years, then payment plus interest starts on 61st month. Collateral is the car with 10 year COE. Back to square one, ha ha! What's so difficult? One of the most stupid ruling I have seen. Wah! Whoever take up this option just so he can buy a car must be really desperate. Link to post Share on other sites More sharing options...
Cars08 1st Gear February 26, 2013 Share February 26, 2013 if COE really drop low enuff...most likely will scrap car for high COE holders...50% 5 years loan....I believe majority of the recent car buyers (1-2 years) wld easily meet this criteria... rule of buying car shld hv been nothing above 5 years loan and 50% or more downpayment...if cant meet such criteria...why buy car to suffer? Link to post Share on other sites More sharing options...
Twnll 1st Gear February 26, 2013 Share February 26, 2013 Well most banks will not circumvent MAS guildlines for fear of reprisal. Of course can you take personal loans but no need to pay interest meh? Personal loans are not secured so you dont enjoy a 2% flat or 4% effective rate, more like 10%? I said, service interests for the other 50% for the first 5 years, after 5 years then loan repayment starts. Link to post Share on other sites More sharing options...
Grix17 Clutched February 26, 2013 Share February 26, 2013 if coe drop to sub 10k i will renew coe even tho i still got 6more years to go... The govt will soon change the COE rules .. they seem to be looking at every loophole now. Plus the prevailing COE price will only change in a years' time since it's a 12-month moving average. Link to post Share on other sites More sharing options...
Grix17 Clutched February 26, 2013 Share February 26, 2013 Well most banks will not circumvent MAS guildlines for fear of reprisal. Of course can you take personal loans but no need to pay interest meh? Personal loans are not secured so you dont enjoy a 2% flat or 4% effective rate, more like 10%? There are still many 'banks' that are not under MAS .. will this be an issue? Link to post Share on other sites More sharing options...
Zanter 3rd Gear February 26, 2013 Share February 26, 2013 The govt will soon change the COE rules .. they seem to be looking at every loophole now. Plus the prevailing COE price will only change in a years' time since it's a 12-month moving average. It will drop like stone, i assure you. MAS regulates all financial institutions in SG. Maybe Tan Ah Kow friendly Long, exempted Link to post Share on other sites More sharing options...
Kar_lover Supercharged February 26, 2013 Share February 26, 2013 Easy to go around the new rules. 'Normal' 5 year loan on 50% of car value. Balance 50% - Bank to offer 'bridging loans' service interest for first 5 years, then payment plus interest starts on 61st month. Collateral is the car with 10 year COE. Back to square one, ha ha! What's so difficult? One of the most stupid ruling I have seen. MAS can easily stop this. Link to post Share on other sites More sharing options...
13177 Supersonic February 26, 2013 Share February 26, 2013 2nd hand market lor... 50K for out 25K nia. 25K cash quite a lot le. Unless your bank has 100K cash, then take out 25K cash still affordable. If your bank only have around 30K plus, dont think anyone would take out 25K to pay for a car?! Link to post Share on other sites More sharing options...
Alpha78 6th Gear February 26, 2013 Share February 26, 2013 If COE drops to 20k or 30k, steal laugh liao... Link to post Share on other sites More sharing options...
Porker Turbocharged February 26, 2013 Share February 26, 2013 mati tis time Property tax rates to rise on high-end residential real estate, with largest increases to be on investment properties that are not occupied by the owner. Current tax of 10 percent will be changed to rates of 12 to 20 percent. - Tax rates to fall for majority of owner-occupied residential properties - Revised property tax structure to be phased in from January 2014 and take full effect from January 2015 - Registration fees for mid-range and luxury cars to be raised Only 2 possible outcome for the revised property tax structure: 1) Asking rental goes up especially high end properties 2) If cannot achieve sky high asking rental then resale value will drop Link to post Share on other sites More sharing options...
CH_CO 6th Gear February 26, 2013 Share February 26, 2013 I don't understand your first statement. How does stringent car loan rules change the fact that Korean brands are VFM? And how does it NOT affect the Japanese cars? What about luxury brands? Do the loans make them a better buy? For your second statement, it has been sustaining for many years. And I have never read any report that there has been any significant amount of bank write off for car loans. What evidence do you have to prove otherwise? And how ppl want to spend their money is their business as long as not illegal. In your first argument , I would like to highlight the fact that many so called vfm buyers are probably are marginal buyers with limited amounts of cash try to get something to drive. Given anyone with a better budget would have gone up the ladder and get themselves something better . As for the other makes , the prices differentials would have push these marginal lenders out. Most of the time the marginal buyers are the ones having problems with their financials and are typically the ones that default. As for Japanese cars like Toyota most of the time these people are conservatives which have the abilities to pay in full. As for luxuries cars , loan repayments are higher and income requirements are different . People want to spend their money yes , but if they want to spend borrowed money then I think certain amount of responsibility needs to be there. ↡ Advertisement Link to post Share on other sites More sharing options...
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