Loan for COE Renewal?

[Happyrider]

Just sharing, i renewed 10yrs for my Honda stream rsz with HL finance. loaned pqp $50168 at 3.25% for 4 yrs. After 4 yrs clear loan... Compared to taking higher loan with longer tenure for new car...i choose the former

[Rao]

currently the lowest interest is 2.99, take note specially  offered by the famous jln mas puteh dealer .

Think thousand times before commiting to this with this dealer, many news and topic on this particular dealer already.

 

market rate is 3.2x onwards, if someone offering you 2.99 .... you can decide.lol.

good luck.

 

Edited January 12, 2018 by Rao

[Zealot]

Just sharing, i renewed 10yrs for my Honda stream rsz with HL finance. loaned pqp $50168 at 3.25% for 4 yrs. After 4 yrs clear loan... Compared to taking higher loan with longer tenure for new car...i choose the former

Smart choice! Stream is a very popular coe renewal model.

The important thing is , opinions are like a**holes everybody got one.

[supersen]

currently the lowest interest is 2.99, take note specially  offered by the famous jln mas puteh dealer .

Think thousand times before commiting to this with this dealer, many news and topic on this particular dealer already.

 

market rate is 3.2x onwards, if someone offering you 2.99 .... you can decide.lol.

good luck.

 

Bro! mind pm me info for this "famous" dealer,  need to avoid as i am considering whether is it the one i have shortlisted   

[Nicholas]

No need to care what ppl thinks. If you think you can pay off the loan without problem then go ahead and make good use of the car.

 

YOLO!

[neodeath]

currently the lowest interest is 2.99, take note specially  offered by the famous jln mas puteh dealer .

Think thousand times before commiting to this with this dealer, many news and topic on this particular dealer already.

 

market rate is 3.2x onwards, if someone offering you 2.99 .... you can decide.lol.

good luck.

 

I saw that http://www.efizzig.com/coe-renewal-loan/ is having it as low as 2.85%.

[MrABC]

Another option to consider maybe renew for 5 years given the low parf 

[fwm]

Considering renewing my COE, anyone have a good finance company to recommend? Thanks.

[GabrielTan_190141]

Considering renewing my COE, anyone have a good finance company to recommend? Thanks.

I'm keen as well, anyone can help?

[NickolasAng]

try this:

http://www.efizzig.com/coe-renewal-loan/

I'm keen as well, anyone can help?

try this:

 

http://www.efizzig.com/coe-renewal-loan/

 

it's only 2.85% from wat i read.

[cmcex]

try this:

http://www.efizzig.com/coe-renewal-loan/

try this:

 

http://www.efizzig.com/coe-renewal-loan/

 

it's only 2.85% from wat i read.

 

Hahaha, 2.85%, they tried but they need to try harder :) 

[Longhaus]

Any Bro out there tried for the above 2.85%? Process and bank charges?

[Lahgal]

When they says 2.85% is for 1 year or 5 yrs ?

Meaning 18583 x 2.85%. = $529.60 per year or 5 years

Thanks

[Hamburger]

It's 2.85% PA.

[JudeL]

1) yes full amount

 

2) $10K

 

3) Yes certain, because basically he is wasting the car away for a good 5 years last time, basically park at carpark and let it rot, car condition is very new, only recently these few months i start to use it everyday

 

4) PARF only $7K+ abit, so I dont know if my assessment is correct, renewal is definitely the better choice. plus reason on point 3.

 

Recently I come across company that can do loan for more than the COE renewal amount and heard some gone for it so no need any cash payment at the time of renewal. If not wrong is this one... https://www.sgcashncars.com/best-coe-renewal-pqp-loan-interest-rates/

 

 

PARF higher should consider 10 years renewal lah, then the overall loss in terms of per year depreciation is much lower. Cos same PARF given to LTA last 10 years instead of just 5 years.

 

If Japanese car, should just do 10 years renewal, cos parts are not that expensive, most workshops able to do. I know a lot of bros say sian liao drive new car, but then economy now tough, easier to have a transport than to face challenge of come up with big lump sum after 5 years 

[JudeL]

Hahaha, 2.85%, they tried but they need to try harder :) 

Interesting, low, but wonder what is the catch? Anyone asked before?

 

Many lobangs the loan co. make out of people. This one not a bank ya.

 

 

[Ben5266]

Interesting, low, but wonder what is the catch? Anyone asked before?

 

Many lobangs the loan co. make out of people. This one not a bank ya.

 

 

something like they need to transfer the ownership from us to them and then the bank.

Total cost of about $400. Charge by LTA, so they claimed.

If we are not getting the full loan, need to transfer money to them first to consolidate.

 

and it seems like, the Bank's employee is helping the car shop to do this "scam". It is industry practice, claimed the car shop.

 

I wrote an email to UOB to verify the claim and the UOB guy hack care to reply me.

[JudeL]

something like they need to transfer the ownership from us to them and then the bank.

Total cost of about $400. Charge by LTA, so they claimed.

If we are not getting the full loan, need to transfer money to them first to consolidate.

 

and it seems like, the Bank's employee is helping the car shop to do this "scam". It is industry practice, claimed the car shop.

 

I wrote an email to UOB to verify the claim and the UOB guy hack care to reply me.

What I heard from SG Cash N Cars is that there is a double transfer, and the ownership count is increased by one time as a result. They charge an admin of $321 for the whole process but will do everything so I don't need to queue at LTA and they will pay for me to LTA the PQP and even the road tax (but of course they claim the tax amount from me also).

 

What I suspect is those extra low interest rates one and some claim $0 admin. Everyone need to make a living, so if they like that, there is some other way they are going to make a living out of you.

 

I hear then those late fees and early settlement penalties are damn high. Better stick to banks, cos controlled by MAS and the difference per month is only $5 or something compared to 2.85% rate and the bank 3.18% rate. Even the in house Effi something, 2.85% becomes 3.75% and above for 5 year to 7 years loan.