Rule change allows car buyers to access bigger loans

[Macrosszero]

not necessary also .

 

alot of bosses got millions of cash available, but u dun see them paying full for their cars property

 

cos they perfer to use their cash for investment at other place.

What’s the difference between this type of loan taker and the other kind?

 

A few million dollars of liquidity.

 

One can afford to pay off the loan anytime and the other can’t lose his/her job.

 

It’s not about the loan itself but the overall affordability. If one can only afford to buy the car with the help of a loan, one should think twice about jumping in.

[Fastfive1]

Who they are?

 

how would I know? such people exist and that's a fact.

[Caterpillars]

The loan restrictions are in place to protect individuals from over commit.

 

The relaxation serves no purpose at all. When loans start to stack up, there is no joy in driving anymore

[Wt_know]

loan simply make everything affordable

ah gong can try limit 15-20 years house loan to demonstrate hdb affordability

Edited August 20, 2019 by Wt_know

[Benarsenal]

Actually it's not a 'rule change' la. It's a loophole. The ST article a bit misleading.

 

Govt obviously never envision people taking advantage of this to take full loan for rental 'private' cars. But that's their own silly short-sightedness.

[Ake109]

What’s the difference between this type of loan taker and the other kind?

 

A few million dollars of liquidity.

 

One can afford to pay off the loan anytime and the other can’t lose his/her job.

 

It’s not about the loan itself but the overall affordability. If one can only afford to buy the car with the help of a loan, one should think twice about jumping in.

 

Another reason is some chao kar AD only give the 5 year warranty if you take loan. *cough*pml*cough*pml*

Actually it's not a 'rule change' la. It's a loophole. The ST article a bit misleading.

 

Govt obviously never envision people taking advantage of this to take full loan for rental 'private' cars. But that's their own silly short-sightedness.

 

When it comes to car management, have they ever been long-sighted? its one whole slew of nonsense and knee jerk reactions and adjustments and crap after another

[awhtc]

MAS looking at ways to curb buyers going around car loan limits

 

https://www.straitstimes.com/business/mas-looking-at-ways-to-curb-buyers-going-around-car-loan-limits

[RogerNg_185295]

1 hour ago, awhtc said:

MAS looking at ways to curb buyers going around car loan limits

 

https://www.straitstimes.com/business/mas-looking-at-ways-to-curb-buyers-going-around-car-loan-limits

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