Search the Community
Showing results for tags 'Loan'.
-
this is the trend. land alone already cost smelly smelly $500+ psf after build up + landscape + profit + this&that ... no $1,000+ psf no talk simi curb also no use la ... http://www.todayonline.com/business/tampin...pite-loan-curbs
-
All not rich like t2 la How come no full cash yo?
-
I saw some say 1.38%, 1.88% and 2.88% etc ... what it is now? and for those with low interest rate, they say got some conditions... anyone can elaborate. Kam sia
-
Swedish households take 140 years on average to repay home loans: report http://www.businesstimes.com.sg/specials/p...tgages-20130912
-
The Singapore Vehicle Traders Association on Tuesday met the Monetary Authority of Singapore (MAS), calling for a review on loan curbs for used cars. The association represents more than 400 used-car dealers in Singapore. It is proposing that used-car buyers be allowed to borrow up to 80 per cent of the purchase price and for the loan to be serviced over eight years, instead of 60 per cent and five years under current rules that took effect late February. The rules were lifted temporary for a 60-day reprieve period from 6 April to 4 June. The association, which has been monitoring feedback from its members, said many dealers are suffering, with business dropping by at least 50 per cent since the reprieve period ended. Raymond Tang, honorary secretary of the Singapore Vehicle Traders Association, said: "New cars and used cars having the same type of loan curbs will (result in the) majority of consumers buying new ones. This adds more pressure on new cars, especially now when the COE supply is not enough. After the 60-day concession period... we can see COE prices rising tremendously, going as high as S$81,000. "So we urge MAS to consider making the loan curb different for the used and the new cars... (to) ease pressure on new cars and cool COE prices." Source: http://www.channelnewsasia.com/news/singap...mas/775634.html
-
Tried to search but couldn't find any match so don't bomb me if it was asked somewhere.. Found the adverts stating '80% Loan Eligible'. Why is this still possible despite the MAS regulations? http://www.sgcarmart.com/used_cars/info.ph...904&DL=2010
-
Good to see who esle will be affected with the CM1 for cars. Grooming and paintworks mentioned so far SINGAPORE: Motor firms Channel NewsAsia spoke with said recent loan curbs on car purchases are having negative ripple effects on some vehicle-related services. They said this effect is likely to be more pronounced, with a temporary reprieve on borrowing limits for used car dealers ending on Tuesday. On Wednesday, the loan curbs set by authorities in February will return in full force. Used car dealers cleared much of their old stock in the 60-day reprieve period given by authorities, where people could take up to 100-per cent loans for car purchases. It applied to some 7,000 second-hand vehicles, with over 4,800 sold. Car dealers have been saying second-hand luxury vehicles are difficult to sell, even if buyers can take up full loans to buy them. Such cars simply do not suit the needs of the many budget-conscious people looking for cheaper, second-hand buys. With the reprieve period over, the maximum borrowing limit is 60 per cent of the purchase price. Dealers said the high down-payment needed to get a vehicle is causing the new supply of used cars for sale to shrink. Owners are likely to hold on to their old rides since conditions for getting a new one are tough. Mike Wee, owner of Mayfair Motoring, said: "People will maintain their car, drive their car until almost the end, until the car really needs to (be scrapped). Then probably they will change to another car." Fewer used cars for sale also means less need for some vehicle-related services. Kenson Goh, sales executive at Car Design, said: "The spray-painting and the car-grooming sector will be affected. Because basically we can't move our old stock, we aren't able to bring in new stock. So therefore we're unable to send over new stock over to the spray-painting or car-grooming companies." Empty shop spaces at the Automobile Megamart in eastern Singapore showed how firms have downsized operations. Motorviva sells commercial vehicles, which are not hit by loan curbs. It has taken over a prime spot at Automobile Megamart, vacated by a used car dealer. Joe Quah, assistant sales manager at Motorviva, said: "The car loan curb - I think all of us know that it has hit the market quite badly. So I think that gives us opportunities to find this very good location which we have always wanted." With business slowing, car dealers said rental rates at Automobile Megamart have fallen about 40 per cent. - CNA/xq
-
The widely expected rise in interest rates for car buyers has materialised, since measures to restrict the amount and tenure of loans were introduced in March to cool the market. As of yesterday, DBS Bank remained the only bank sticking to the old rate of 1.88 per cent per annum. All the others have raised interest rates almost uniformly to 2.68 per cent since the first mover - believed to be Citibank - revised its rate upwards in March. The higher charges came after the Government announced measures in late February to cool the motor market, including restricting the loan amount to no more than 60 per cent of a car's purchase price, to be repaid in no more than five years. Source: http://www.straitstimes.com/breaking-news/...-rates-20130523 -
There were many more dealers than buyers yesterday at used car shops, as the final weekend before loan restrictions kick in ended with a whisper. About 15 second-hand car dealers told The Straits Times that this was how it had been for several weeks, after the "panic buying" that came right after the Government's 60-day loan reprieve on certain used cars began on April 6. "There was a frenzy the first weekend after the extension was announced," said Mr Jeremy Teo, 42, a car salesman at Henly Enterprises in Ubi. He said his dealership sold almost all of its 80 eligible used cars within two weeks. The reprieve, which ends tomorrow, was granted by the Monetary Authority of Singapore after an outcry from used car dealers. It applied only to roughly 7,000 used cars acquired before the curbs kicked in on Feb 26. Source: http://www.straitstimes.com/breaking-news/...e-ends-20130603
-
Noticed recently in Sgcarmart that some cars that was listed selling for $50K will suddenly have prices drastically increased to $80K and after a week will have status SOLD. I suspect dealer raised price on purpose so buyers can then take a 100% loan for the car ( 60% of $80K = $50K ). Is this a legal loophole for the MAS Restrictions ?
-
LOAN RESTRICTIONS LIFTED TEMPORARILY FOR PURCHASE OF PRE-EXISTING STOCK OF USED CARS; RESTRICTIONS EXTENDED TO CREDIT COMPANIES NOT REGULATED BY MAS Singapore, 5 April 2013 ... The Monetary Authority of Singapore (MAS) will lift the current restrictions on car loans for a period of 60 days for the purchase of used cars1 that were part of car dealers
-
I know German made cars dealer still offering 90% loan via their inhouse financing arm. How about japanese or korean made? Wonder how the next COE bidding be like..
-
Recent MAS ruling has caused a stir to car buyer and car trader :angry: . MAS claimed that it is to ensure people do not over loan, however their method will in fact make certain group of buyer who really need (not want) a car but do not have enough cash by getting caught in the situation. Why not MAS set up a new credit assessment body - car buyer would need to have themselves assessed so to get Repayment Capability Report before buying a car if they intend to take a loan. E.g. If a person RCR is $60k, if he wish to buy a $60k car, be it new or used, he would not have to pay any down-payment, that applys to any car that is below $60k. However, if he wants to buy a $80k car, then he would have to pay the difference, which is the down-payment. By doing so, it may effectively manage the over loan issue. And MAS could at anytime adjust the rule, such as one could only loan up to 80% of his RCR...... I think this is more straight forward than current scheme and also good to let everyone know what is their repayment capability, so that he would not go beyond what he could afford. What do you all think?
-
How much loan do luxury car buyers usually take?
Nonewposts posted a topic in General Car Discussion
Just cuious to know how much loan do most mercedes and bmw drivers take for their ride. -
saw the dbs website. risen by so much?
-
with the current 50% downpayment issue, how many of us can say our cars are debt free(fully paid)
-
Curious, and assuming no Guarantor. Will car be repo? Or will bank clawback from dead owner's assets? Thanks in advance
-
Hi, In the midst of falling bank rates, is it worth to re-finance car loans? My car is already 1 year and 9 months old. Loan is with Maybank. any lobang or advise on re-financing?
-
Just curious, with car prices at crazy level now, how the hell bank assess car loan applications? Lets say someone earning $3000 a month brought a new Altis for $140,000 and applied for a $130,000 loan. The monthly instalment is abt $1,300 a month. That is about 43% of his monthly pay! thought bank got a set of criteria like cannot exceed 30% of monthly pay??? If we deduct CPF, his salary will drop to $2,400 and that car instalment will be 54%. Wow. Add in petrol, ERP, misc and not even talking abt annual rd tax n insurance, easily smelly smelly $1,800 a month. Left $600 eat grass every month is it??? Really scary world out there. Either we are somewhat crazy or something is super wrong here.
-
If DBS is giving 2.18% interest rate for used cars. Any other bank that gives a better rate?
-
many possibilities... - this stomper is not telling the truth - singpost and ezycash leak out the customers' data - a new tactic by ah long looking at the numbers... - $30 deducted for admin - repay $480 in three weeks for a loan of $380 - ah long earns $130 for a loan of $380... that's 34% interest, and about 11% per week
-
My car loan finished earlier this year. After that, there is just no deduction from my bank account. But there is no official correspondence by the finance company, Hong Leong in my case. Is this the norm? Heard that last time, u also will get your Log card back? But now, it's all electronic right?
-
Hi all, I'm not good in calculation of car loan issues and so please help me to clear my doubts: Q1) If i still has existing car loan of $46000/= with the bank and I intend to sell my car off to a car dealer. At the same time I wanted to buy another 2ndhand car which cost $65k from the same dealer. Can I talked to the dealer to help and pay off my car loan of $46000/= to the bank first and then let them add on the $46000/= to the price of the 2nd hand car, which make the car price $$111,000 ($46k + $65k). Is dat against the law to do so??? Q2) If I'm selling my car which has a COE of only $5000 (example only), does this $5000/= play any part when coming to selling the car. Meaning will the dealer takes the $5000/= coe or the current coe price to determine the selling value of my car now. Some say if my car COE is low (for example $5000), then I definitely earn a lot when selling coz the COE price now is high, some say I will not earn much. I blurred!!!!!!!!! I really confused with all this up/down, high/low and buy/sell issues. So please help if u can!! Thanks I know it is not the right time to change car but I just want to clear my doubt.
-
Hi guys, Managed to get a BTO. 1st time home owner. I'm not eligible for HDB loan so i'm getting a bank loan. Need to submit a letter of Offer by Xmas. For the folks using bank loan here, what are the pros & cons of variable rates vs Fixed if u do refinance/repricing regularly every 2-3 yrs once the locked in period is over? There is of course refinancing penalties. My loan will be ~200k. Any constructive advice/prior experiences is appreciated before i go ask arnd the different banks after the wkend.
-
Will be doing the above trip and leaving sgp in the morning and have lunch in Yi Bao aka Ipoh. Other than the Ipoh chicken rice, fried bean sprout, white dumpling, etc, any bro like to recommend other yummy food? ThkQ thkQ
