Loan for renewal of 5yr COE

[SWUBIZ]

Muah is a typical example

Vinceng, all your money hiding in Labuan is it?

 

spend now pay later is the consumer mind set today, not saying it is bad. such mind set get the economies going, companies earn lots of profit, ppl get employed...and as long as got secured job, maybe can commit...but then again nowadays, job not so secure anymore, unless u work in government sectors, teachers or mindef.

Edited November 22, 2016 by SWUBIZ

[Dilemma]

not easy to get a annual return of 3.25% or higher for 5-7yrs unless u are gd in the stock market or get lucky in some unit trusts or reits investment.

 

the modern consumer mindset now is spend now with your future money...but if future money don't come...think abt it another day. just spend and enjoy first.

 

there are many Singaporeans who don't even have 10k savings and still wanna buy car or even already driving a car

 

i'm sure there are many people who could afford the amount but choose to take a loan instead. to each his own.

 

what makes you think someone who take loan does not have the amount in bank?

 

lets say I have 60k in my bank and coe renewal is 50k. I would definitely go for the loan as I would prefer to have cash on hand for emergency usage instead of putting the entire savings into the car.

[SWUBIZ]

i'm sure there are many people who could afford the amount but choose to take a loan instead. to each his own.

 

what makes you think someone who take loan does not have the amount in bank?

 

lets say I have 60k in my bank and coe renewal is 50k. I would definitely go for the loan as I would prefer to have cash on hand for emergency usage instead of putting the entire savings into the car.

What u said is right too. there are ppl who has cash but not wanna use it. nothing wrong with that. and there is nothing wrong with if u don't have cash in bank and go buy car, just that u will get into a bad situation when u lose your job.

 

there is no absolute answer or one size fits all answer.

 

ahbengdriver was saying if u don't have 27k to pay for car, then better not use it to buy car. and it's true that many don't have the 27k or even 10-15k, but PIs can let them drive off with a few thousands deposit and high interest. but like u said, there are ppl who has cash but prefer to take high loan high interest.

 

no right or wrong. just sharing views. cheers

Edited November 22, 2016 by SWUBIZ

[Jamesc]

What u said is right too. there are ppl who has cash but not wanna use it. nothing wrong with that. and there is nothing wrong with if u don't have cash in bank and go buy car, just that u will get into a bad situation when u lose your job.

 

there is no absolute answer or one size fits all answer.

 

ahbengdriver was saying if u don't have 27k to pay for car, then better not use it to buy car. and it's true that many don't have the 27k or even 10-15k, but PIs can let them drive off with a few thousands deposit and high interest. but like u said, there are ppl who has cash but prefer to take high loan high interest.

 

no right or wrong. just sharing views. cheers

[SWUBIZ]

This is one way to do money laundering.

 

But money laundering is bad so please

 

don't do it.

 

u mean ahlong is it? their high loan high interest is out of this world. PIs high loan high interest is like small dory fish compare to the great white shark

[Optramagnum]

Hi All ,

 

Recently I just renew My COE with this company.

They able to get 100% for Renew COE.

 

https://carousell.com/p/77493723/?ref=profile&ref_referrer=%2Fweekee1980%2F&ref_sId=1382838

Yes we know, your name is in the company, Ricky Wee. Try harder next time.

[Solar]

i'm sure there are many people who could afford the amount but choose to take a loan instead. to each his own.

 

what makes you think someone who take loan does not have the amount in bank?

 

lets say I have 60k in my bank and coe renewal is 50k. I would definitely go for the loan as I would prefer to have cash on hand for emergency usage instead of putting the entire savings into the car.

As mentioned, no right or wrong.

But for me, I prefer to pay full. If *touch wood* need that emergency fund, I'll just sell or scrap the car.

I will only lose the parf.

[Dilemma]

As mentioned, no right or wrong.

But for me, I prefer to pay full. If *touch wood* need that emergency fund, I'll just sell or scrap the car.

I will only lose the parf.

 

well. if i'm caught in that situation, i will use my emergency fund and still keep the car.

i can then slowly accumulate my funds again without losing my car.

 

isn't it a better scenario?

 

well i get your point too. to each its own.

[Azacamis]

Actually why worry about PARF value? You can always get it back even after you renew your COE. Just need to think out of the box.

If your PARF value is say 10K, when you renew your COE for 5 years, loan for 3 years and scrap the car after 3 years. At current PQP, you will get back almost 11K. The depreciation value of the car is still lower the market rate.

One advantage of renewing COE is that you know your car condition whether it can last that 3 years. Buying a used car is a gamble.

[Jumpmanz]

There are a few. Especially that "Sophiaaa" spamming all over the place, does moderator allow unauthorised advertising? Someone ever told me off here saying must sponsor a thread.

 

Now it sets me wondering, hmm.......

 

they hide behind the bushes

[Winningeleven]

Any 10 years coe renewal loan allow borrower not to take up full loan, for example , borrower just need 50% or 60% of the PQP and to be repay in 5 years. Any ideas what is the interest rate now?

[Barasuishou]

Any 10 years coe renewal loan allow borrower not to take up full loan, for example , borrower just need 50% or 60% of the PQP and to be repay in 5 years. Any ideas what is the interest rate now?

Just nice my company do that! You can contact me for further questions if you are interested, 8688 6668. I can assure you the reliability of my company for its been in the market for long. However, my boss may not be offering the lowest interest rate in the market, as they advertised (not knowing if there are hidden clause)

[JCSL]

Just nice my company do that! You can contact me for further questions if you are interested, 8688 6668. I can assure you the reliability of my company for its been in the market for long. However, my boss may not be offering the lowest interest rate in the market, as they advertised (not knowing if there are hidden clause)

 

 

 

Renew COE loan less than PQP and less than the usual tenure need HUI HUA in-house to do? ARE YOU SURE?

 

Any TOM DICK or HARRY finance will do. ie. HONG LEONG/CENTURY TOKYO just that you need a dealer to facilitate.

 

OH YA, you didnt mention that there will be admin fee? Hidden charges?

 

Be upfront and frank, probably can get some business here, Mr. Geri Lim

Any 10 years coe renewal loan allow borrower not to take up full loan, for example , borrower just need 50% or 60% of the PQP and to be repay in 5 years. Any ideas what is the interest rate now?

 

Hong Leong 3.25%

 

Century Tokyo 3.5%

 

MayBank 4+% (aka Dont Bother)

 

*As long as loan is not exceeding PQP, these 2 finance are your best bet

[Sktan10]

Done many already, if owner wants , you need a broker to facilitate for some admin charge and use lowest best rates, a decent profile is enough to have high chance of approval.

 

The loan amount won't issue out to owner for security reasons..broker will handle everything. No cash money involved but owner get fresh new 5 / 10 years coe renewed.

 

For those with decent job and good credit history can try. Those with "not so good" ratings or job nature need not waste time. Owner got no say on final loan quantum approved, subject to approval. They call the shots. Owner got no say. Take it or leave it.

 

Done many, soMe Cars I have done loan approved examples -

 

Hyundai verna - Full PQP 5 yr

Chevolet Aveo - owner top up $5K for 5 yr pqp

Toyota altis - full PQP 10 yr

Toyota altis - full 5 yr pqp

Toyota VIos - full 5/10 yr pqp

Mazda 3 - full 5 yr pqp

Mitsubishi Lancer CS3 1.6 - Full 5 yr pqp

Honda civic FD 1/2/3/4 - Full 5/10 yr PQP, some need too cash ( due to owner profile rating )

Honda civic sir EK4( 4 door ) - Owner top up $2k for $26k 5 yr pqp

Honda civic sir 3M EK 4 ( 3 door hatch ) - Owner top $5k for 10 yr $49K PQP

Honda accord Euro R - Full 5 yr pqp

Honda accord Euro R - Full 10 yr pqp

Honda accord Euro R - Offered 70% @ $ 35K for 10 yr PQP, owner need top up $15K ( didn't do cos he no cash money )..they know and thus set this condition. Haha

 

So, all in all, they know how much to loan..they call the shots and set the terms & conditions..very good % %% rates, so take it or leave it.

 

Owner profile, job, credit rating, all loans ( house etc blah blah ), car make & model all taken into consideration. Need assistance can contact me. We know roughly the approval amount.

 

Good luck

This shows that a lot of owners got no saving including me also. I m poor man.

[Barasuishou]

Renew COE loan less than PQP and less than the usual tenure need HUI HUA in-house to do? ARE YOU SURE?

 

Any TOM DICK or HARRY finance will do. ie. HONG LEONG/CENTURY TOKYO just that you need a dealer to facilitate.

 

OH YA, you didnt mention that there will be admin fee? Hidden charges?

 

Be upfront and frank, probably can get some business here, Mr. Geri Lim

 

Hong Leong 3.25%

 

Century Tokyo 3.5%

 

MayBank 4+% (aka Dont Bother)

 

*As long as loan is not exceeding PQP, these 2 finance are your best bet

 

Hi,

 

I think you misunderstood me. i stated to call me for further enquiries partially also because there may sometime be changes to the rates as my boss change it from time to time (Like promotions). Therefore its better to contact me directly so i can give you the most up-to-date information. Yes there will be admin fee, and there will also be transfer fees.... All these, and including steps and procedures will be clearly explained to anybody who text/call to enquire even if they decided not to take up our service afterall! Yes it may seems like i'm wasting my time to alot of people, but to me i made new friends by sharing what i know (and learn from them what others are offering at the same time)! I do not like to hard sell....

 

Different companies offer different rates, but rate is not the only thing to compare only. The requirements are individually different as well. Of course, the better rates have stricter requirements and the higher rates can be easier with them. The rates can be very attractive but its useless if you cannot fit into their requirement. Higher rates sounds scary but its maybe paying a few k more in interest over the terms of 5 to 10 years (like around $50/month more) but you can get the approval and get it done. It really depends on individual needs. 

 

Lastly, i didnt intend to hide my identity otherwise i wont disclose my number. Anybody in sales-line knows very well that a simple google on your number easily reveals who you are unless you purposely set up new lines to hide for be it good or bad intentions/reasons. Just wanna clear up the misunderstanding because the way i see, you seems to feel like i am trying to con ppl or purposely hide anything which i am not. Btw, ( lol although this happens quite frequently) Geri is a female name!!!

[Beehive3783]

Eh, can you don't mislead people or not?

 

PARF is FORFEITED upon renewal of COE.

 

 

Actually why worry about PARF value? You can always get it back even after you renew your COE. Just need to think out of the box.

If your PARF value is say 10K, when you renew your COE for 5 years, loan for 3 years and scrap the car after 3 years. At current PQP, you will get back almost 11K. The depreciation value of the car is still lower the market rate.

One advantage of renewing COE is that you know your car condition whether it can last that 3 years. Buying a used car is a gamble.

 

[Ody_2004]

Hmmm.. I won't use the word "forefeited" la..depends on how individually we look at it.

 

Then again, for cars on renewed 5 years COE, too bad & good luck. Be prepared to drive finish the 5 years.

 

Always consider taking a 10 yr renewal, if car condition is ok and finances allow. This is where there may be a change to recoup some of the PARF which was "Invested" into the car. Mathematics game.

 

Sad to see good cars like Accord Euro R, Toyota altis, WISH, VIos, FD cIvic on 5 yr COE. These cars should have no issue to last 15-20 years. Only truly Singapore where good cars are taken off the roads at the 10 year mark only to benefit drivers from other countries. *Ahem*

Hi can give example of recouping the PARF..

 

Let say i just bought over a w211 E200 with PARF at 28k and COE at 53k

 

Thank you

[Ody_2004]

Bro, must see wat car/brand/make/model etc. I cannot classify it as a "One size fits all".

 

U already have the 2 numbers there. This is $$ put in ( invested ). So, if u want to take it back, wat do u have to do ?? Only 1 way and 1 answer.

 

For W211 E200 and this 2 numbers. One word " TOUGH". Furthermore, wat is the condition of the car ? 1 owner ? Low mileage ? Fully cycle maintained ? Wat color ? Interior all nice ??

If u need a car, just pay and use. Hope for "Durian" to drop. Chances are low but it's burning $2.8K per year only la. Also, can't say "burn", u using the car mah. Mathematics game la bro...with some logic.

 

If u had a W204 C, den it's pretty much a no brainer !! Coming soon, many Honda Civic Type R ( FD2R ) will be the next.

 

Good luck.

Errr maybe i toopid but I don't see a answer there.

 

I had renewed 3 cars back in 2009 with those $3xxx COE. Yes for these i can "recoup" the PARF as the CoE keep climbing after this magical era.

 

With current COE and seem heading downwards I don't see i can.

 

Maybe you can show me some figure with a say 2007/2008 w204?