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Showing results for tags 'loan'.
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Guys, need some advice. Sometime end May i viewed and bought a used car (coe left 1.5yrs at about $27k) from a dealer. Till date in July, ownership has not been completed and i have not paid any installment apart from first installment which i paid together with downpayment when i drove away the car. Brief sequence of events below: 1) Day 1 - View and placed a $500 deposit 2) Day 2 - Sent car to my workshop for checks and negotiated price down further as some repairs needed 3) Day 4/5 - Loan aprroved. Collected car along with a cheque for downpayment and first installment. 4) July - It has been a month plus and dealer kept delaying the transfer of ownership. I have also not received any form of installment advice from approved bank. I have been constantly messaging and calling him but all sort of excuses given and last given yesterday was cash flow problem. What sort of actions can i take at this point of time ? Very stressful :(
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Hi all, Just wondering whats the best thing to do or rather what are my options if i have access in OA account and still servicing a HDB bank loan. Theres about enough to pay 24months of installments in my OA(cos my house is dirt cheap so installment is pretty low) Is there any way i can make advanced payments or clear my OA to decrease the total sum? If yes, is that a smart move? What else can i do with this access? Thanks in advanced guys
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Hi, Seek advice on this issue Car title under father, but im the one who took the loan and paying thru my bank acct If transfer ownership from father to me, do i need to fully redeem my loan and take another loan? Reason for transfer is to build up NCD -
Anyone care to recommend any good in-house car loan company? Cheers
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Better check if you kenna shafted by your legal ah long. http://forums.condosingapore.com/showthread.php/23448-Citibank-is-unilaterllay-rasing-the-spread-on-its-existing-Sibor-loan-customers-!/page2
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I am aware that 99 LH condos gets hard to sell due to loan restrictions after 20 years and later. How about FH units? I am not looking at en-block though. I buy to stay but in the long run I might sell out when I retire in 10 years time. I can afford 40%+ downpayment now. Will banks have problem with 20+ year old FH condos? When I sell to buyers with 20% downpayment, will the loan become an issue?
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Hi all, If you have taken a car loan from a bank which is higher than the 50% that you are allowed to, you have to pay gst for the additional loan you take? I heard it's the industry standard and it's the bank that charges this surcharge. Anyone else encounter this before? Thanks!
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Hi guys, have got a theoretical scenario which i've recently heard of someone being in - it's not anyone i know, so purely academic purposes, and seeing if anyone has any ideas. So car owner currently has a vehicle, with a 50k car loan left. Take for example he's paying 1K a month. He feels that he can't afford to pay this monthly installment now, and wants to reduce the amount he pays monthly. Repricing is out of the question, as the market is homogeneous. He inquires as to the price he can sell the car at. Unfortunately, it fetches a bid of say ... 25K. He doesn't have sufficient cash to cover the additional 25K, even after selling the car. However he doesn't mind paying off the 25K in (lower) monthly instalments. What are the options open to him in this case? I know that taking a personal loan - assuming his income can support - is one option.
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Hi All, Created a simple excel that helps to calculate the Break Even period of buying new car Value of Selling your Old Car with 78 Rule Estimation of Old Car Value from 2nd Market 1st Version Hope it helps everyone to have a good view of their current finance/loan status. Hi All, Seemed like i couldnt upload Excel.zip into here. Try the below link. http://www.2shared.com/file/ESRmzZw2/Car_Loan.html Car_Loan.zip Car_Loan.zip Loan_Calculator.zip
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any idea wat is e best rate and which bank is offering them. seems gd time to save some $ on interest now pls advice gd lobang
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Anyone in the car industry can help? Without going thru a car dealer or middle man. I know sometimes car middleman is useful. But my father wish to try to do the sales himself, I am helping him because my father says the sales will free up some cash for his Hainan holidays and other future holidays. He just retired early this year. My father is trying to sell away his fully paid Subaru Forester 2008, to one of his friend. There is no loan on the car. The buyer has personally applied for a bank loan. I am not sure what type of documents the bank will issue when the bank loan is approved. I also want to know, when will the bank issue the cheque/funds in my fathers' name or account. Or when will the money be disbursed so that the car ownership can be effected. Anyone works in bank or car dealers who know the steps?
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Hello folks, i know mcf a lot of gurus with rich expertise in wealth management, would like to seek some advice. supposedly: - 240k of loan, which will you go for? private or HDB? was told that private is as at 1.2% whileas HDB is at 2.6%. - BTO, intend to sublet 2 units out as will be going malaysia for work. Any concern? - the rental of 2 units will be used to fund the private loan installment. - is it able to take more loan apart from the 240k? could use the extra for renovation and venture. Due future, taking in as no CPF contribution. Will come back once or twice a month. please give your valuable thoughts, thanks
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Hi bros, I'm keen to purchase a 2nd hand car from a direct owner. Wonder if I can get my own loan rather than going thru an agent? Which are the bank or finance company that allow us to deal directly, what is the procedure? what documents do we need? If going thru an agent, what is the fee do we need to pay? Thanks in advice
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i hope somebody can share his experience with me on this. i wanted to enrol my son to NAFA school for his diploma next year. I know we can use our ordinary acct for our child's education loan. but my ordinary acct is drained and my monthly contribution goes to my housing loan. next chance is my special acct. so i wrote to CPF board to see if i could use my special acct. replied from CPF below so my question is, anyone tried seeing their MP and could get special arrangement? or heard of any successful story pertaining to this type of scenario? my credit rating no as good, i think i cannot borrow from bank. thanks for reading.
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Hi all, Anyone knows what is the car loan interest rate nowadays? Is it going up? Some PI tends to offer very attractive price but the interest rate like very high.
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As the question implies, does anyone know if by going through an in-house loan (dealer or someone else), would HDB be aware of it when you're declaring income looking to buy a HDB/EC? Thanks :)
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Do you take car loan or are you able to pay car in full amount one shot? Which is better when buying new car/used car - to put 50% downpayment and then the remaining 50% amount use car loan, OR pay one shot in full? What are the advantages and disadvantages? Thanks.
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From: July 2014 Monthly Analysis: MAS to revoke loan curb "Singapore's retail performance in April has been hit by yet another dive, down by nine percent compared to the same period a year ago. This is partly due to the dwindling sales performance posted by the motor vehicle segment, which plunged 36.1 percent from last year. Since the inception of loan curb rules imposed by the Monetary Authority of Singapore (MAS), sales of motor vehicles have been constantly declining. The loan curb has a profound and deep impact on car buyers - especially the middle to lower income group, due to the high amount of downpayment (up to 50 percent depending on the OMV of the car) required for any car purchase. This acts as a direct blow to the overall retail performance. And in many cases, such as during last November, retail sales would have grown if car sales were excluded. There is no doubt that the weakening figures have clouded the overall retail outlook. Compared to the previous loan curb, where the loan-to-value ratio was pegged at 70 percent, current rules state a maximum loan of 50 percent. Deputy Prime Minister Tharman Shanmugaratnam has reaffirmed that although the new loan rules are 'harsher' than before, the Government is well aware that there are people who really need a car, and hence, the loan curb will only be temporal. In addition, with an influx of COE supply expected in the following months, premiums may hit a new low. Recently, we have seen various implementations by the Government to iron out fluctuations in COE prices. As such, the authorities may end up loosening loan rules to drive up demand of new cars and stabilise the market. While the previous loan curb lasted from February 1995 to January 2003 - a total of eight years - there is a possibility the current one will not last as long. " The question is when will they withdraw this loan curb and is it total withdraw or partial? I would say of all the COEs policies/changes that came out lately, this is the killer and more deadly. I would prefer this loan curb to stay for certain level like 30% out front down-payment and max 7 year loan. If you can't even come out with the 30%, you jolly well save up the money and leave some for rainy days. What do the rest of the bro and sis here think?
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Sorry please merge or delete.
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no more bypassing the 5 yr loan and paying 40 to 50% DP anymore
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why splash paint on my parents place when it is our neighbour down the corridor who owe u money?? Bloody hell , hope u will kenna caught and serve time in jail !
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Hi Bros , Pls feel free to contribute as below ; Latest Prices as of Yesterday ; Mers - CLA 180 146 k after trade-in plus 3.5k svc vouchers .. aggressive pricing Mitsubishi - Lancer 89k , Attrage 79k (Many people signing ) Hyundai - Elantra - Standard 89k , Elite 96k Toyota - Wish 108k Happy car hunting.........
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Hi bros, I've been calculating but not sure which is the more economical option for me. Appreciate your thoughts and advise which is an overall more economical decision. I'm currently driving a 2008 Stream, COE expiring March 2018 with $15K loan left and OMV $20,486. Is it more economical to change car now or wait till COE expire? If I were to change now, I will likely go for 5+2 cars such as Wish & Touran. Putting aside COE fluctuations, let's assume COE remains at current level from now till 2018. 1) If I wait till COE expire (20 mths fm now) Outstanding loan : $15K Scrap Value at end of 10 Yrs : $10K Nett Cost if usage : $5K Annualised depreciation : ($15K-$10K)/20 * 12 = $3K 2) If I change car now Expected selling price of existing car : $27K (is this a reasonable assumption?) So I basically loose $17K for using this car for 20 months which works out to be $10,200 annually. so which is the more "correct way" of looking at the cost of ownership? The other thing is that assuming I use the next car for 10 years, Option 1 will allow me to drive the new car till 2028 option 2 will allow me to drive the new car till 2026 how do I consider that 2026 to 2028 difference for this decision?
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Hi, i'm currently dealing with a direct seller regarding a car purchase. Right now my loan is approved and i'll meet him next week to pass him balance in cash/cashier order. I'm not sure whether he settled his full settlement with bank as I heard that even if he settle on the spot, it will take about 1 working day for LTA to allow the transfer for DBS auto loan. He informed me that his LTA pin is ready and will handover when I pass him the balance amount. I'm actually pretty confuse...lol
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Hi Bros, Saw in Saturday's ST advert that the Hyundai Elantra was going @$89k with 10 year loan for thae weekend only. Anyone went down or booked? What was the COE rebate? Any conditions? Appreciate any feedbacks/comments! Thanks!!
