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2,500 used cars which qualify for full loans sold: SVTA


BengGaBoy
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Looks like a lot of people still need more than 50% loan and also more than 5 years repayment period.

 

Anyway, the above sale should not be due to the lower prices from dealers that induces such deals.

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Neutral Newbie

These ppl ought to be chopped. Stupidly they did not know after the 60 days, their car depreciate greatly since COE and car price drop. They re forever stuck with the artificially rised loan within this 60 days window.

 

Lets see after the window period, who are the ppl crying father crying mother again.

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These ppl ought to be chopped. Stupidly they did not know after the 60 days, their car depreciate greatly since COE and car price drop. They re forever stuck with the artificially rised loan within this 60 days window.

 

Lets see after the window period, who are the ppl crying father crying mother again.

 

If the intend to change car before the the COE is due, then they will know they gonna lose alot, need to fork-out alot to settle the outstanding loaan.

can see that most of the cars listing in sgcarmart are 15k to 20k above their current paper value.

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So it seems the buyer are more desperate for the loan than the seller to clear stock...

 

Seller:1, Buyer:0

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Looks like a lot of people still need more than 50% loan and also more than 5 years repayment period.

 

Anyway, the above sale should not be due to the lower prices from dealers that induces such deals.

Obviously majority people here need more than 50% loan and more than 5 years repayment period. Dont think there are many people are cash rich and able to downpayment 40-50% with 5 years or less loan. So during this 60 days window, many people would not miss this opportunity to buy a car on old car loan ruling. Many afraid if they dont buy within the 60 days, they will never have a chance to buy car liao.

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does it mean (at least) 2500 people live beyond their means? :huh:

 

I have a colleague who stays in Holland road and just bought another used car for his daughter on 7 year loan.

 

This car is his 4th, in addition to the merc bmw etc

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Neutral Newbie

They are the black sheep who push up the price and make the dealers grinning to the bank. They pushed the price up and make the dealers yaya. They are the artificial market force that will disadvantage the rest of us here. I don't care if they are living beyond their means, but they are creating more jam and inflation.

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Does it mean there are 2500 less ppl competiting with the next coming COE bidding, since they are diverted to buying used car?

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Does it mean there are 2500 less ppl competiting with the next coming COE bidding, since they are diverted to buying used car?

Lol, does it mean that there are no more cars available in the used car market which qualify full loans, even the 60 days window havent ended yet? [:/]

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Lol, does it mean that there are no more cars available in the used car market which qualify full loans, even the 60 days window havent ended yet? [:/]

 

Have lah, it say 7000 used car qualified. So 2500 is only 1/3 of it.

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Doesnt mean that these people are living beyond their means..

 

It could also mean that these people have the cash but do not wanna fork out 40% or 50% cash for a car.. im 1 of them..say 100k car..fork out 50k or 40k savings...siao..i rather take mrt..$$ hard to save. [bigcry]

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agree totally... i rather take higher loan and use the cash to keep as emergency funds or look at nice returns investments.

 

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agree totally... i rather take higher loan and use the cash to keep as emergency funds or look at nice returns investments.

 

Yes.

 

Everyone has their own way of managing their financials

 

 

I think its perfectly fine

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They are the black sheep who push up the price and make the dealers grinning to the bank. They pushed the price up and make the dealers yaya. They are the artificial market force that will disadvantage the rest of us here. I don't care if they are living beyond their means, but they are creating more jam and inflation.

 

 

This is a free market

 

Don't get so emotional la

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