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Car loan interest rates in S'pore hit 2.78% after US Fed's latest hike


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Car loan interest rates in S'pore hit 2.78% after US Fed's latest hike

SINGAPORE - On top of rising car prices that come with record prices for certificates of entitlement, buyers of new cars here now have to fork out even more for loans.

Some banks and financial institutions have raised interest rates to 2.78 per cent. This is an increase of 0.5 percentage point from the 2.28 per cent interest rate reported in May.

https://www.straitstimes.com/singapore/transport/car-loan-interest-rates-in-spore-hit-278-after-us-feds-latest-hike

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Supersonic
1 minute ago, ER-3682 said:

Will this cause COE to crash.?Tomorrow will know.

Unlikely.

Interest rate has been rising the entire year

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Supersonic
(edited)

It is why I am still driving a coe car...and will continue to drive COE car. 😄😄

Edited by Ct3833
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Supersonic

Interest rate for property and car all went up so much? But price for property and car still crazy high? So what it means le? 😂

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5 minutes ago, 13177 said:

Interest rate for property and car all went up so much? But price for property and car still crazy high? So what it means le? 😂

die die must stay in condo and drive BXX😁

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Supersonic
(edited)
52 minutes ago, 13177 said:

Interest rate for property and car all went up so much? But price for property and car still crazy high? So what it means le? 😂

Many might have managed to secure low interest early this year or last year, when their two years fixed rate tenure are due for renewal next year, some may have to let go their properties if they cannot afford the high interest rate anymore. We have yet to see how many have huge cash liquidity to fend the increasing interest rate.

Soon we may also see those youtube gurus start teaching people how to flip properties from 1 to 2 to 3 and 4 or more under high interest rate.

Edited by Ct3833
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Twincharged
10 hours ago, Daniu82 said:

What loan? I thought everyone here is full cash de? COE won’t crash because of this lar. 

Loan is a 4 letter word in MCF ok?

 

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Supersonic
(edited)

2.78% or 27.8% .... what is the diff 

full ca$h ... 

but i will keep my current car till 10 years ... lol

Edited by Wt_know
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Supersonic
40 minutes ago, Wt_know said:

2.78% or 27.8% .... what is the diff 

full ca$h ... 

but i will keep my current car till 10 years ... lol

10 years very fast come one, esp if your current car already more than 4-5 years old liao. Unless you have just bought your car not long ago, then still long way to 10 years la. Lol.

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