Unltd 5th Gear October 22 Share October 22 Seems like in 1 area, Malaysia is more forward thinking and protects consumers more than Singapore. https://theedgemalaysia.com/node/773936 they abolished this loan which is front loaded. Hopefully it will happen in Singapore too. ↡ Advertisement 4 3 Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged October 22 Share October 22 Wa lau eh. Clickbait sia. I thought abolished in SG. 9 Link to post Share on other sites More sharing options...
kobayashiGT Internal Moderator October 22 Share October 22 ya lah. big news sia. hahahah. I tot we no more rule of 78. 😅 2 Link to post Share on other sites More sharing options...
mersaylee Hypersonic October 22 Share October 22 😁 3 Link to post Share on other sites More sharing options...
Wildfaye29 Turbocharged October 22 Share October 22 knn! Link to post Share on other sites More sharing options...
Volvobrick Hypersonic October 22 Share October 22 Irrelevant to MCF members... 5 Link to post Share on other sites More sharing options...
inlinesix Hypersonic October 22 Share October 22 On 10/22/2025 at 10:01 AM, kobayashiGT said: ya lah. big news sia. hahahah. I tot we no more rule of 78. 😅 Bro, you better update the title le. 1 Link to post Share on other sites More sharing options...
Freeder Hypersonic October 22 Share October 22 On 10/22/2025 at 9:46 AM, Unltd said: Seems like in 1 area, Malaysia is more forward thinking and protects consumers more than Singapore. https://theedgemalaysia.com/node/773936 they abolished this loan which is front loaded. Hopefully it will happen in Singapore too. This is not LOWYAT forum .. WTF.. 7 Link to post Share on other sites More sharing options...
Ake109 6th Gear October 22 Share October 22 On 10/22/2025 at 9:46 AM, Unltd said: Hopefully it will happen in Singapore too. Dont lah! Think of the poor salesperson commission and the sweet sweet rebates the banks give our dealers. How will they survive! Sarcasm aside, if MAS was serious about this farce, they would mandate that dealers cannot lock in only 1 bank option for loan or buyer has to deal direct with bank. 1 Link to post Share on other sites More sharing options...
Ake109 6th Gear October 22 Share October 22 (edited) On 10/22/2025 at 10:22 AM, Volvobrick said: Irrelevant to MCF members... Relevant lah, if less fat from loan comm, then less no-loan penalty. Best is MAS say no loan allowed at all, then COE drop. Edited October 22 by Ake109 2 3 Link to post Share on other sites More sharing options...
Unltd 5th Gear October 22 Author Share October 22 This is relevant, Singapore is always touted as having one of the best financial systems and regulations in the world. If our neighbors can one up us like this, it is a push for us to do better. So this should be big talking news here, to push for perhaps a ban on it. Many developed countries have already banned it, now even Malaysia has done that. 3 Link to post Share on other sites More sharing options...
Beehive3783 Turbocharged October 22 Share October 22 This will not happen in SG la... too many useless critters up the chain to feed with the loan interest. 8 1 Link to post Share on other sites More sharing options...
Ahwhye 6th Gear October 22 Share October 22 Sinkapore are known to be pro-business, and hardly pro-consumer lah. Gov will say if you have any issue with loan, then don't take lah.. 5 4 Link to post Share on other sites More sharing options...
Benarsenal Turbocharged October 22 Share October 22 On 10/22/2025 at 11:22 AM, Unltd said: This is relevant, Singapore is always touted as having one of the best financial systems and regulations in the world. If our neighbors can one up us like this, it is a push for us to do better. So this should be big talking news here, to push for perhaps a ban on it. Many developed countries have already banned it, now even Malaysia has done that. Won't happen lah. Rule of 78 benefits the lender, and SG has always been pro-business. They cannot make the banks unhappy. Just last week only got someone write in to complain: https://www.straitstimes.com/opinion/forum/forum-review-how-interest-is-charged-for-car-loans Link to post Share on other sites More sharing options...
Sdf4786k Twincharged October 22 Share October 22 On 10/22/2025 at 10:31 AM, Ake109 said: Relevant lah, if less fat from loan comm, then less no-loan penalty. Best is MAS say no loan allowed at all, then COE drop. dont need no loan.. only need limited load of 3 years duration and 30% max. Link to post Share on other sites More sharing options...
Gizmore Supercharged October 22 Share October 22 Quote “The real shift is in perception,” he says. “It’s not about banks losing money. It’s about borrowers finally seeing the true cost of their loans.” This is what is important about abolishing Rule 78. Link to post Share on other sites More sharing options...
Unltd 5th Gear October 22 Author Share October 22 On 10/22/2025 at 12:57 PM, Benarsenal said: Won't happen lah. Rule of 78 benefits the lender, and SG has always been pro-business. They cannot make the banks unhappy. Just last week only got someone write in to complain: https://www.straitstimes.com/opinion/forum/forum-review-how-interest-is-charged-for-car-loans Someone need to ask minister or discuss in parliament, then there is real pressure to change it. This is the perfect time because we can cite Malaysia boleh, Singapore tak boleh? LOL 2 Link to post Share on other sites More sharing options...
Ake109 6th Gear October 22 Share October 22 (edited) On 10/22/2025 at 3:06 PM, Unltd said: Someone need to ask minister or discuss in parliament, then there is real pressure to change it. This is the perfect time because we can cite Malaysia boleh, Singapore tak boleh? LOL You want interest rate from Ah Long, Moneylender or Bank? What is the point of your question? I say but you don't listen. You listen but you don't understand. We want to give consumers more choice. The free market can decide which option the consumer wants. Do you need more light for your gas? Edited October 22 by Ake109 ↡ Advertisement 1 3 Link to post Share on other sites More sharing options...
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