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About Nomoney

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  1. Nomoney

    Used Car Dealers Feedback (Part 2)!

    Ask dealer to use "trade plate"! Don't kena conned into paying any charges, or, even worse, not taking the car for a check
  2. Nomoney

    MAS BACK TRACK on Car Loan !!!!!!!

    Totally agree with Throttle! Sometimes don't know if to laugh or cry when I see high-powered cars taking off slower than cyclists
  3. Nomoney

    Used Car dealers Feeling The Heat Liao!

    People who bought vehicles at high COE were used as pawns in this high stakes game of chess Whilst I feel sorry for them, the current CMs are good news for the consumers (for a change)
  4. Nomoney

    MAS BACK TRACK on Car Loan !!!!!!!

    I believe it's called a Democracy and Capitalism
  5. Nomoney

    MAS BACK TRACK on Car Loan !!!!!!!

    The practise of over-financing is nothing new; however, there is a HUGE caveat (condition) - it's called "Finance Recourse". Basically, a financial institution will be prepared to extend any amount of loan (based on the invoice); however, the catch here is that if the hirer defaults, the financial institution will claw-back any commissions paid to the dealer. Further, the hirer will be sued for the remaining monies should the sale of the repossesed vehicle not cover the interest + principal repayment. My advice to all "aspiring" buyers is to be very weary of over-borrowing unless one is prepared for the consequences.......
  6. Nomoney

    MAS BACK TRACK on Car Loan !!!!!!!

    Aiyah......What's all the fuss about with USED car dealers Basically, most if not all car dealers (new or used) currently "offering" up to 100% loan from credit companies. The only catch is that now it is now ILLEGAL (read...jail, fine, maybe kena ) to do so after 60 day "grace period" for used car dealers. Most notedly, ALL ADs will now have to abide to new financing regulations What this effectively means is that the principle of the curtailment measures will now be finally felt by all Got no $$ = got no car I believe that COE prices will stabilize and revert to realistic levels unless a significant number of buyers have $$$$$ to spend on a car (new or used). Finally, the true cost of motor vehicle owership will dawn upon eveyone. This can only be good news to the consumer as it will most probably "eradicate" all the promotions that have caused car prices to rise to stratospheric levels
  7. 55k OMV First 20k OMV @ 100% = 20k Next 30K OMV @ 140% = 42k Next 5k OMV @ 180 % = 9k New ARF 71k + OMV 55k = 126k (basic cost) Old ARF 55k (100% OMV) + OMV 55k = 110k (basic cost) Therefore, addtional ARF for 55k OMV car will be: 126k - 110k = 16k Hope this helps!