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Car down payment Rules

Wuga98

By Wuga98,
in General Car Discussion

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Doppel

Doppel

Turbocharged

80% loan ... advertise big big in newspaper

 

treat MAS & LTA die one ar? lol

Haha, haven't heard that line for a while, but my ex-wife treated me as if I was already dead when we were still married then.
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Runforyourlife

Runforyourlife

5th Gear

Lol all the big cannon fairy claims sibei hiong after get car. Before get car want Coe low, this scheme remove that scheme remove, get Liao want 100% payment to pwn others.

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Nzy

Nzy

Twincharged

Lol all the big cannon fairy claims sibei hiong after get car. Before get car want Coe low, this scheme remove that scheme remove, get Liao want 100% payment to pwn others.

 

Want COE low and want 100% payment can be linked together. Who doesn't want COE to be low if possible? Even though now the COE is only 50k. If can get at 10k or any other lower price, which normal person wouldn't want it? With the 100% payment, it might help lower the COE further cuz there will be even less people who can afford a car. Demand might drop right? So COE might drop also.

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Ivan_06

Ivan_06

5th Gear
(edited)

Want COE low and want 100% payment can be linked together. Who doesn't want COE to be low if possible? Even though now the COE is only 50k. If can get at 10k or any other lower price, which normal person wouldn't want it? With the 100% payment, it might help lower the COE further cuz there will be even less people who can afford a car. Demand might drop right? So COE might drop also.

100% payment, Coe confirm drop further.. Well said.. Edited by Ivan_06
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Runforyourlife

Runforyourlife

5th Gear

Want COE low and want 100% payment can be linked together. Who doesn't want COE to be low if possible? Even though now the COE is only 50k. If can get at 10k or any other lower price, which normal person wouldn't want it? With the 100% payment, it might help lower the COE further cuz there will be even less people who can afford a car. Demand might drop right? So COE might drop also.

Yup. All existing car buyers must all also pay up their balance in straight cash. Else forfeit car.

 

Nothing wrong.

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Ivan_06

Ivan_06

5th Gear

Yup. All existing car buyers must all also pay up their balance in straight cash. Else forfeit car.

 

Nothing wrong.

Ya, but to begin with I already paid in full back then. So the forfeit car doesn't apply.
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Nzy

Nzy

Twincharged

Yup. All existing car buyers must all also pay up their balance in straight cash. Else forfeit car.

 

Nothing wrong.

 

They probably can't do that cuz it isn't fair to those as the rules only changed after they buy. Just like when they change to 50% DP, all those who loaned 100% already still can continue to slowly pay off their loan.

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flashbang

flashbang

Turbocharged

100% payment for cars will NEVER happen. The government is dumb sometimes, but not that dumb to destroy the entire hire purchase industry in Singapore.

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Runforyourlife

Runforyourlife

5th Gear

They probably can't do that cuz it isn't fair to those as the rules only changed after they buy. Just like when they change to 50% DP, all those who loaned 100% already still can continue to slowly pay off their loan.

Then why now want 100% dp just cos one already own a car? Just show the selfish nature. Kns own a kimchi budget car now wanna pwn everybody else.

Ya, but to begin with I already paid in full back then. So the forfeit car doesn't apply.

Yup I got 5 cars and all paid in full as well.
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Nzy

Nzy

Twincharged
(edited)

Then why now want 100% dp just cos one already own a car? Just show the selfish nature. Kns own a kimchi budget car now wanna pwn everybody else.

Yup I got 5 cars and all paid in full as well.

Yup. I am too poor to buy any thing better than my Jap and Korean b&b cars. Anything more than these cheap b&b cars I cannot afford. Don't believe in taking loan for luxury items so I feel 100% down payment is good.

 

Anyway one of my car's COE expiring early next year so I also going to buy car next year ma... Not like we can keep our cars forever. Those who ask for 100% DP sure need to buy sooner or later what...

Edited by Nzy
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Ivan_06

Ivan_06

5th Gear

Then why now want 100% dp just cos one already own a car? Just show the selfish nature. Kns own a kimchi budget car now wanna pwn everybody else.

Yup I got 5 cars and all paid in full as well.

Hello Forte3737 (:
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Wyfitms

Wyfitms

Twincharged

The scheme initially appears to flout Monetary Authority of Singapore (MAS) regulations, but Uber, which is no stranger to controversy the world over, said the deal does not break any law in Singapore. It stated that cars must be registered under a company name, and under a scheme that allows them to be used for offering paid rides - even if not with Uber.

 

MAS concurred, saying, "MAS' motor vehicle financing restrictions do not apply to loans for the purchase of private-hire cars. Drivers should be aware that they will incur additional costs, including higher insurance premiums, should they enter into such arrangements."

 

 

I cut and paste from sgcarmart article.

 

uber got one whole team of lawyers to clear all their marketing materials one  [laugh]

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Angcheek

Angcheek

Hypersonic

Hello Forte3737 (:

How u know ?

uber got one whole team of lawyers to clear all their marketing materials one [laugh]

US also cant shut them down ... (for now)
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Carnoob

Carnoob

Supercharged

uber got one whole team of lawyers to clear all their marketing materials one  [laugh]

Actually uber is just the platform for used car dealers. The "scheme" had long been in place since the 40% down payment started by MAS. It is not NEW and neither an idea from Uber. That's why you see that Uber's "partners" are used car dealers.

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WillyWonka

WillyWonka

1st Gear

Then why now want 100% dp just cos one already own a car? Just show the selfish nature. Kns own a kimchi budget car now wanna pwn everybody else.

Yup I got 5 cars and all paid in full as well.

 

Humans are selfish in nature, especially Singaporeans. COE system is basically a "All-Man-For-Himself" system.

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WillyWonka

WillyWonka

1st Gear

coe too low ppl don't feel good buying the car? haha

 

Probably because everybody feel they have the right to own a car faster than others .. such as; wife giving birth soon, back side itchy, money no where to spend, need a new car to haolian for festive season etc etc

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