NO More 100% Car Loan - Would COE Drop?
NO More 100% Car Loan - Would COE Drop?
time to extend COE le...
http://www.mas.gov.sg/en/News-and-Pu...cle-Loans.aspx
MAS Imposes Financing Restrictions on Motor Vehicle Loans
Singapore, 25 February 2013 … The Monetary Authority of Singapore (MAS) will re-introduce1 financing restrictions on motor vehicle loans granted by financial institutions.
2 The maximum motor vehicle loan amount will depend on the open market value (OMV) of the motor vehicle purchased:
(i) For a motor vehicle with OMV that does not exceed $20,000, the maximum loan-to-value (LTV) is 60% of the purchase price, including relevant taxes and the price of the Certificate of Entitlement, where applicable; and
(ii) For a motor vehicle with OMV of more than $20,000, the maximum LTV is 50%.
In addition, the tenure of a motor vehicle loan will be capped at 5 years.2
3 The financing restrictions are necessary to encourage financial prudence among buyers of motor vehicles. In this prolonged environment of very low interest rates, there is greater risk of buyers over-extending themselves on motor vehicles.
4 The financing restrictions will not apply to loans for the purchase of commercial vehicles3. They will also not apply to loans for the purchase of motorcycles.
5 The rules will take effect from 26 February 2013.
http://www.mas.gov.sg/en/News-and-Pu...cle-Loans.aspx
MAS Imposes Financing Restrictions on Motor Vehicle Loans
Singapore, 25 February 2013 … The Monetary Authority of Singapore (MAS) will re-introduce1 financing restrictions on motor vehicle loans granted by financial institutions.
2 The maximum motor vehicle loan amount will depend on the open market value (OMV) of the motor vehicle purchased:
(i) For a motor vehicle with OMV that does not exceed $20,000, the maximum loan-to-value (LTV) is 60% of the purchase price, including relevant taxes and the price of the Certificate of Entitlement, where applicable; and
(ii) For a motor vehicle with OMV of more than $20,000, the maximum LTV is 50%.
In addition, the tenure of a motor vehicle loan will be capped at 5 years.2
3 The financing restrictions are necessary to encourage financial prudence among buyers of motor vehicles. In this prolonged environment of very low interest rates, there is greater risk of buyers over-extending themselves on motor vehicles.
4 The financing restrictions will not apply to loans for the purchase of commercial vehicles3. They will also not apply to loans for the purchase of motorcycles.
5 The rules will take effect from 26 February 2013.
After Spending So Much Time And Money To Own A Car,
You Must Learn To Enjoy The Fun Of Driving It,
Not Stressing Yourself On Your Journey Home.
You Must Learn To Enjoy The Fun Of Driving It,
Not Stressing Yourself On Your Journey Home.
i think the govt is only tightening the car loan for NEW cars only. all other including the used and COE renewal loan should not be affected as far as the news is not mentioned on papers is concerned.dfx wrote:I cant find any info on renew coe
U understand how the new scheme work for renew coe?
After Spending So Much Time And Money To Own A Car,
You Must Learn To Enjoy The Fun Of Driving It,
Not Stressing Yourself On Your Journey Home.
You Must Learn To Enjoy The Fun Of Driving It,
Not Stressing Yourself On Your Journey Home.
used cars also regulated.yeobt wrote:i think the govt is only tightening the car loan for NEW cars only. all other including the used and COE renewal loan should not be affected as far as the news is not mentioned on papers is concerned.dfx wrote:I cant find any info on renew coe
U understand how the new scheme work for renew coe?
only renewal of COE excused.
coe will drop slightly, i predict. but still have to fork out easily ~50k for a 1.6L if the car price dropped from ~140k to ~100k (take altis for example)
Electricity is actually made up of extremely tiny particles called electrons, that you cannot see with the naked eye unless you have been drinking...
I will extend my COE if it drops to range 20k. But my coe ends 2016. So don't drop now.Silver wrote:Confirm drop... Hope it comes in time to save the EKs....
After Spending So Much Time And Money To Own A Car,
You Must Learn To Enjoy The Fun Of Driving It,
Not Stressing Yourself On Your Journey Home.
You Must Learn To Enjoy The Fun Of Driving It,
Not Stressing Yourself On Your Journey Home.
Try search online.... Ebay, etc.....pokerface wrote:save EKs yes but save the sunroof rubber first. where got sell? dont tell me the general shop like min ghee, tanly etc. All say will find in the end no reply or no stock, not producing blah blah. Sibey sian!Silver wrote:Confirm drop... Hope it comes in time to save the EKs....
There's always a better 2molo...........
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