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Showing results for tags 'loan'.
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no more bypassing the 5 yr loan and paying 40 to 50% DP anymore
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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?
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with the current 50% downpayment issue, how many of us can say our cars are debt free(fully paid)
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Curious, and assuming no Guarantor. Will car be repo? Or will bank clawback from dead owner's assets? Thanks in advance
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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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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.
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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
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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?
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If DBS is giving 2.18% interest rate for used cars. Any other bank that gives a better rate?
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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
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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.
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MAS loan tenure updates lai liao
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Say for instance car's COE lifespan ends in 1 year, and just want something to drive for short term? Will banks do 1 year loan?
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when i took my car loan with the bank, i was given $3k "bonus" for a 7 year loan, which i used to offset my deposit/first payment for my car. now i left with half a year on my installments but according to the contract, if i do not complete the 7 years repayments, i will pay back the $3k. (even for early repayment). so lets say i want to change car now, will the dealers be able to work around this or i will still kenah the $3k penalty ? (actually i also only left about $3-4k on my loan repayment over the next 5 months)
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Hi need some advises from the bros here. I have a HDB loan with UOB bank with a outstanding amount of $150K (paid 4.5 yrs with balance of 5.5 yrs @float interest at 3.75%). I have a balance of $100K in my CPF account and i am thinking to make full payment from my CPF of 100K + cash of 50K, could someone advise me if this make sense? Can i use all the 100K in my CPF ord account for the full payment? Also i was told by UOB to get my own lawyer to settle the full payment, anyone has experience how i could go about and how much will the cost be? Does the lawyer assist in advising me how much in total i need to prepare for full settlement before i engage him/her? Thank you
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UNITED Overseas Bank (UOB) has introduced a home loan that spans half a century - likely the longest-term loan available here. UOB introduced this longer loan duration as more customers have been requesting for such loans. However, these loans come with conditions. 'This type of loan is applicable to private residential and HDB loans only,' said Ms Chia Siew Cheng, UOB's head of secured loans and personal financial services. As well, borrowers above a certain age are not eligible, but UOB declined to say what the cut-off age is. And if the property is leasehold, it needs to have at least 35 years left on the lease at the end of the 50-year loan. Ms Chia noted that the loan has its pros and cons. Having a longer term 'will result in a smaller monthly loan instalment and will be easier on monthly cashflows. However a longer repayment period also means that more interest will be payable'. Financial adviser Damian Pang warned that by taking on such a long-term loan, the homeowner will be servicing the loan long into his retirement years. A quick check with other banks here found that the longest loan term was 40 years. At OCBC, for example, the maximum loan period for private and HDB homes is 40 years, or up to the age of 75 years, whichever is earlier. At HSBC, customers with at least $200,000 with the bank can get loans of up to 40 years. Others can receive loans of up to 35 years, at the most. Even then, most customers opt for loans of just 30 years, said Mr Harmander Mahal, HSBC Singapore's head of customer value management. Only about 1 per cent of customers take up the 40-year loans. Longer-term loans require the borrower to pay a smaller sum each month. This gives consumers the confidence to purchase new homes, and could help to keep prices buoyant, said Mr Ku Swee Yong, the chief executive of International Property Advisor. 'It improves affordability, which means it is good for the housing market in general, not just developers.' Homeowner Edward Ti, 28, said he would certainly take up a 50-year loan for an investment property. 'I would take a 50-year loan if interest rates are low. I would think that it is more efficient to use the money saved from the monthly mortgages to do something else.' If a borrower takes out a 50-year loan for $1 million at an interest rate of 1.7 per cent, he would have to pay about $2,475 monthly for his mortgage, compared with $3,548 if the loan ran for 30 years. This is assuming a period of low interest rates. However, if interest rates rose, say to 3 per cent, the $1 million 50-year loan would mean monthly repayments of $3,220. [email protected] Paving the way for obscenely overpriced HDB flats. Be prepared to pay 1 million for a 4/5 Room HDB flat soon. So it's total slavery to your flat and many have to work till their last day with no retirement.
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Anyone done it yet and have FR? Thot last time some banks said cannot be done..... http://www.ocbc.com.sg/personal-banking/Lo...Autoloan_180612
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was checking the MAS factsheet that was given to me by citibank. 1 mth sibor highest record in their factsheet is 20% in Jan-98. But i check everywhere, incl factsheet that other bank provided... never has 1mth sibor close the 10% mark..(MAS site) Either the factsheet bear incorrect information, or the citibank's sibor is higher than other banks. *pretty scary* if their sibor rate is higher than other bank even in the same given mth.
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Just checked my hdb loan statement. Loan amount=103 5000 Loan tenure=25 yrs montly payment=478 IP payment=90 Is the montly payment inclusive of hdb interest? Total payment after 25 yrs is 144000 estimated. Why am i still being charged IP of 90 over dollars a month which was initially 100 over dollars a month? My loan is 103 000 but will pay total ~144000 dollars and still need to pay IP monthly. Is this interest upon interest? I am really dumbfounded. Any gurus can explain!
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Hi Guys, Just want to check, if you have the cash, would it be more advisable to pay in full or still take loan when we buy a car? There are usually quite a number of rebates and freebies if you take loan...
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Just wanna find out if there are any minimum loan amount for car loans.. The banks might not find it profitable for small loan quantum especially in this low interest rates environment I am asking this becus currently considering to cash out from my MPV and switch to a older sedan. The cash will go towards the new car and hence lowering my monthly commitments.
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Advice for selling Swift and buying Koup (Loan)
Tubecreamer posted a topic in General Car Discussion
need some advice. I wish to sell my coming to 5 year old swift 1.3 auto, bot in 2007 June for 55k, down 10k, COE abt 15k. 10 yrs loan, monthly abt 450. Now selling in sgcarmart for about S$36K. A 2009 Koup is about 75k. May I know how much do I need to topup or pay mthly and the fees incurred if I buy the koup, thanks -
pls advise. or regardless as long buying smaller flat or equivalent of what i bot 1st time, u need to pay resale levey?
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A place he can call home By Gerald Goh The New Paper Wednesday, Mar 28, 2012 Being a financially prudent person led to him finally being able to afford his first bachelor pad more three years ago. Local comedian-host and Gold 90.5 DJ Hossan Leong told The New Paper: "Getting my own place for the first time was a major step forward in my life. "I'd always been renting a place to stay and it was quite unsettling to me over time, as I didn't have a place I could call my own. "I'm a natural saver. I find it quite gratifying to see my savings grow, so when I found the perfect place to stay, I said to myself, why not put those savings to good use?" Leong used his Central Provident Fund savings (in his Ordinary Account) and was able to make the 20 per cent downpayment. The 42-year-old's two-bedroom apartment near City Square Mall cost around $800,000, a sum that will be paid for with the aid of a 30-year housing loan. Leong added that even though the apartment was completed in July last year, he could only move in November as he had to see out the remainder of his rental contract with his landlord. "Housing in Singapore is really hard for the less affluent segments of society to afford. "It's been reported recently that a person who earns less than $1,000 a month is able to own a two-room Housing Board flat. "That may be technically possible, but I imagine he or she will have to spend almost every cent of their remaining income just to meet daily expenses. "Will the person have anything left over to save? " Leong also counts his endowment insurance plan, which his mum got for him as a child, as part of his saving strategy. "It's a good way to 'force' me to save about $100 each month," he said, adding that he took over the premiums from his mother when he was in his early 20s and started work as an actor. "The policy will mature in my 50s. It will include not only the accumulated interest, but also a yearly bonus." He added: "Saving some of what you earn each month isn't just for old age. "If something catastrophic happens to you and you're unable to work for a period of time, can you survive on what you've saved in the bank? "I feel you should save enough to prepare for a possible down period of at least half a year, should anything happen to you - touch wood! - and you are unable to earn an income." Working hard for the money Which could explain why Leong has packed his schedule to the brim. He was recently a guest judge during the auditions of the youth talent search competition okto Star and will be hosting a short segment of the local game show We Are Singaporeans at Singapore Day 2012 in New York in April. But his main job is still helping to run communication agency Paul Carr Consultancy, which he co-founded with friend and business partner Paul Carr. After the company's expenses have been accounted for, Leong pays himself a monthly salary of about $4,000. "Having a company to run helps me control my spending, as I'm responsible not only for my own personal finances but for my company's finances as well." And though he used to spend heavily on clothes before, that's a thing of the past, he says. "As I grew older, I thought to myself that I don't really care how many branded shirts I have any more. "Does anyone else honestly care if I wear branded clothes or not? The answer is no." This article was first published in The New Paper.
