MAS temporarily lifts current curbs on used car loans

[rymccondo77]

MAS temporarily lifts current curbs on used car loans (from 6 April 2013 for 60 days only) - see article at Channe News Asia website:

http://www.channelnewsasia.com/news/...-u/628552.html

[kane]

somre reprieve for them to clear their inventory in 60 days.

[radha08]

clown show

[indomie]

clown show

Maybe time to back track on some CMs too

[may2012]

we use to laugh at our neighbour up north for policies u-turns........seems we are catching up.

[teddybear]

Micky Mouse show

What happened to our policy maker nowadays?

Can't think long and far!
or Infected with the common symptom - myopia view!

[teddybear]

What happened to our policy maker nowadays?
Why they keep flip-flopping policies? They never think carefully before even introduce any policy? They can't think how their policy will affect people for next 3 months, how to expect them to implement policies that will influence for next 10 years?!
If they think the used car businesses deserve to be in this state, then they should not reverse. If they do not deserve, the policy should already take care of it when the first implement it. The flip-flop just show how short-sighted they are and that the new policy implemented has never been carefully thought through before they even implement it!

MAS temporarily lifts current curbs on used car loans (from 6 April 2013 for 60 days only) - see article at Channe News Asia website:

http://www.channelnewsasia.com/news/...-u/628552.html

[teddybear]

Now How?

With this new one, poor used car dealers may have to sell cheap to clear their inventory in 60 days.

Another one without thinking carefully before even introduce!

They don't reserve millions dollars of salary! Phew! Phew! Phew!

[kane]

They better don't hold on to their inventory till the very last day otherwise it will start looking like yhe great singapore sale.

[pool100]

I have no sympathy for 2nd hand car dealers. Most I know are unethical and they know how to lie through their teeth to con buyers. What goes around comes around.

[shareidiot]

I have no sympathy for 2nd hand car dealers. Most I know are unethical and they know how to lie through their teeth to con buyers. What goes around comes around.

Do NOT stereotype & judge others (that all dealers work the same way).

Actually I think this 60 days thingy is not going to help much. in most cases, in order to dispose of 1 used car, I reckon he has to trade in another care (LPPL).

This move is too extreme, w/o considering the ultimate impact on industry. Bad strategy.

[yowetan]

Do NOT stereotype & judge others (that all dealers work the same way).

Actually I think this 60 days thingy is not going to help much. in most cases, in order to dispose of 1 used car, I reckon he has to trade in another care (LPPL).

This move is too extreme, w/o considering the ultimate impact on industry. Bad strategy.

The crash will make sure everyone a fair chance to gain wealth.

[DC33_2008]

They may not even want your trade-in car given the uncertainty. It is rather risky now to buy from 2nd car dealer as they might face cash flow problem and close down even before you take over the car.

Do NOT stereotype & judge others (that all dealers work the same way).

Actually I think this 60 days thingy is not going to help much. in most cases, in order to dispose of 1 used car, I reckon he has to trade in another care (LPPL).

This move is too extreme, w/o considering the ultimate impact on industry. Bad strategy.

[kane]

Their target market is those buying their first car. Those who needs to trade in they probably won't do.

[flagship74]

Hearsay gament is going to any round of CM..all sillyporean and pr are allow to keep either one HDB or private housing..or you need to dispose the extra to the open market within 6 month time frame..

[teddybear]

Yes strongly agreed. Since lengthened by 60 days, means you go on the 58 or 59th day, sure can pick up panick sales right? If everybody also knows this, how to help the 2nd hand car dealers like that?

They may not even want your trade-in car given the uncertainty. It is rather risky now to buy from 2nd car dealer as they might face cash flow problem and close down even before you take over the car.

[zzz1]

They may not even want your trade-in car given the uncertainty. It is rather risky now to buy from 2nd car dealer as they might face cash flow problem and close down even before you take over the car.

For this, that give them(car dealer) another reason to take in your car at scrap value, and with a minus 3% admin fee , while they can try to sell at margin..

Worst t worst , they can scrap and recover the $$

[DC33_2008]

Better to wait for more COE quota next year. Otherwise, just go for BMW.

For this, that give them(car dealer) another reason to take in your car at scrap value, and with a minus 3% admin fee , while they can try to sell at margin..

Worst t worst , they can scrap and recover the $$

[kane]

Why bmw in particular?

[Adva181]

The crash will make sure everyone a fair chance to gain wealth.

To gain wealth, one self must start working hard n stop praying for a crush.

[kane]

To gain wealth, one self must start working hard n stop praying for a crush.

You must be playing too much candy crush. I suppose you meant crash? Ha.

Anyway, typically when the crash comes, they hope for the crash to go deeper.

End up mising the boat again.

[leftfield]

Why bmw in particular?

B = Bus
M = MRT
W = Walk

[kane]

B = Bus
M = MRT
W = Walk

Oh I see. A bit sua ku here.

[zzz1]

Why bmw in particular?

bus, mrt and walk

[DC33_2008]

Not just working hard but smart. Learn the tool of leveraging like OPM (Other People's Money). It can be really powerful.

To gain wealth, one self must start working hard n stop praying for a crush.