MAS Imposes Financing Restrictions on Motor Vehicle Loans

[Jonjees]

Everyone wait and see, you will see the effect later.

 

Prices shouldn't change if Coe prices never change.

They just offer their own 90% full loan lol.

 

Will Coe prices change drastically?

Not in march, surely not in April.

[Turbonetics]

since dealers like to carrothead sellers, they definately bought the car at a very low price(near paper value + 10k)

 

sell at the exact same price bought

 

 

 

not really true

 

[CH_CO]

At the end of the day , the people who cannot afford to pay for the dp can always get a second handed car . I started with a second handed car as well. I don't really see a need to get a shiny new car . For those with genuine needs a 7-8 year old is still cheap and affordable .

 

The issue the ones which complains here are people are marginal buyers being priced out by the lack of cash or for this matter lack of money. So these people shouldn't be looking at new ones as they can ill afford it. So what is the problem ? I don't see problems . If you aren't earning enough , you shouldn't be wasting money on cars. Simple as that .

[Camrysfa]

just checked SGcarmart... no reduction in both new and used cars leh... chey

 

 

Won't be surprised no AD has a new pricelist yet....still in shock.....definitely got to price lower but by how much is the headache. wrong cal can lead to loss.

[Jonjees]

At the end of the day , the people who cannot afford to pay for the dp can always get a second handed car . I started with a second handed car as well. I don't really see a need to get a shiny new car . For those with genuine needs a 7-8 year old is still cheap and affordable .

 

The issue the ones which complains here are people are marginal buyers being priced out by the lack of cash or for this matter lack of money. So these people shouldn't be looking at new ones as they can ill afford it. So what is the problem ? I don't see problems . If you aren't earning enough , you shouldn't be wasting money on cars. Simple as that .

 

2nd hand at 100k also need to fork out 50k :)

[Turbonetics]

just checked SGcarmart... no reduction in both new and used cars leh... chey

 

 

everyone adopting the wait and see situations right now.

sooner or later the market will force the dealers to do something.

[Turbonetics]

2nd hand at 100k also need to fork out 50k :)

 

 

2nd hand cars has very wide range.

what car are u looking at that even 7-8 years old still cost u $100k?

if you are looking for this type of car,the MAS rule won't even make u blink your eyes.

[Turbonetics]

At the end of the day , the people who cannot afford to pay for the dp can always get a second handed car . I started with a second handed car as well. I don't really see a need to get a shiny new car . For those with genuine needs a 7-8 year old is still cheap and affordable .

 

The issue the ones which complains here are people are marginal buyers being priced out by the lack of cash or for this matter lack of money. So these people shouldn't be looking at new ones as they can ill afford it. So what is the problem ? I don't see problems . If you aren't earning enough , you shouldn't be wasting money on cars. Simple as that .

 

 

i agree with you.

exactly my sentiments.

[CH_CO]

2nd hand at 100k also need to fork out 50k :)

 

100k? you buying merc ah? A normal 2nd car which is 4~6 year old is only 50~60k . If don't even have 25k in account don't learn people buy car. No money don't buy , or choose something cheaper. What is there to whine? Why don't you spend time to think how to earn more instead of complaining?

 

Don't be like the chao ah gua kar lover , taking cheap pot shots at people. Dude mud slinging won't make me feel anything. It only proves my point the K lovers are losers. Yes i am calling names. At least i dare to. Your pattern like this , i give another 10 years you are still a loser , you will probably never catch up in income/wealth behaving like this.

Edited February 27, 2013 by CH_CO

[Yaloryalor]

everyone adopting the wait and see situations right now.

sooner or later the market will force the dealers to do something.

 

Lucky my car still can last 3.5 yrs before Coe expire. Hoping the Coe price will drop in 3 years time.

[CH_CO]

It will drop , i am pretty sure about it. Just a matter of how much. I am pretty sure there are people willing to pay for the car and not give additional tax revenue to the garmen via COEs.

Edited February 27, 2013 by CH_CO

[Sp33dst3r]

100k? you buying merc ah? A normal 2nd car which is 4~6 year old is only 50~60k . If don't even have 25k in account don't learn people buy car. No money don't buy , or choose something cheaper. What is there to whine? Why don't you spend time to think how to earn more instead of complaining?

 

Don't be like the chao ah gua kar lover , taking cheap pot shots at people. Dude mud slinging won't make me feel anything. It only proves my point the K lovers are losers. Yes i am calling names. At least i dare to. Your pattern like this , i give another 10 years you are still a loser , you will probably never catch up in income/wealth behaving like this.

 

Well said! Those who can't even fork out at least 20-30k shouldn't even think of driving. Garman finally make a correct move!

[Sp33dst3r]

It will drop , i am pretty sure about it. Just a matter of how much. I am pretty there are people willing to pay for the car and not give additional tax revenue to the garmen via COEs.

 

I shared the same sediment

[Roadie]

Well said! Those who can't even fork out at least 20-30k shouldn't even think of driving. Garman finally make a correct move!

 

True. Still we will have people complaining.

Result of this new rule is that COE will go down and only those who can afford will buy a car.

That's perfectly ideal.

 

Cannot make everyone happy.

[Arowana1]

i think most people understands the rationale for 50%-60% LTV but it pisses everyone off that this is used by gahmen as means to bring down coe. both are separate issue. one is about financial prudence. the latter is wtf has the gahmen done right so far to manage car population against peasants expectations?

[Aventador]

I shared the same sediment

 

Is it topsoil?

[Camrytron]

2nd hand at 100k also need to fork out 50k :)

Tomorrow Toto 600k

[Timbuktoo]

Is it topsoil?

 

HAHAHA. This cracked me up.