Loan up to 60% for omv less than 20k, 50% for omv more than 20k!
And can only loan for 5 years! No need to change car, COE dropping soon!
Loan up to 60% for omv less than 20k, 50% for omv more than 20k!
And can only loan for 5 years! No need to change car, COE dropping soon!
Can't buy property, can't buy car.....
Ya....buy stocks!! If not put in the bank and earn "interest"
I like it.
good lah. keep my old car better.
but i do wish garmen can exempt safety features from OMV. i really shake head when i look at substandard cars being brought in. 5 star NCAP when overseas, come here become 2 airbag.
There is no good or bad location. There is only good or bad price.
This will drive COE down. The luxury market will benefit.Originally Posted by indomie
But luxury taxes go up. So should be about the same price even if COE drop 50%. But it is time for such measure. 100% loan, 10 years. Anyone also can buy. It is long overdue.
Originally Posted by chestnut
So the message is don't overstretch.Originally Posted by thomastansb
Buy only if you can afford.
I still remember the days when cars were on display at pasar malams and wet market.
My favourite decision. The ability to loan much resulted in the price ballooning, and COE mainly goes to LTA I suppose.Originally Posted by nochoice
With this, force people who really need car to save up and reserve for it.
Siong though, but see how much COE drops to compensate. Those who just bought car heng and sueh also. Borrowed more and longer, but also pay more and longer...
For omv above 50k rite. Unless I read wrongly.Originally Posted by thomastansb
Since last month.. Many Pty agents eat grass..
After today.. Car dealers eat glass..
All the used car dealer siao liao... All their stock will drop in priceOriginally Posted by Rysk
This 1 no joke.
New car dealers will be confined to the coe quota. This will benefit the lux brand.
Yah...Originally Posted by thomastansb
COE may drop but ARF goes up... net price of car may not drop much for medium to big cars.
Eat glass is fatal .Originally Posted by Rysk
[QUOTE=buttercarp]So the message is don't overstretch.
Buy only if you can afford.
Agreed, but this measure a bit over!! If revert back to 70% loan and max 7 years I still can accept...
Only loan 50% + 5 years max... Too much
And worse still no dealer want to take your existing car!
Good OneOriginally Posted by buttercarp
To make money we lose our health,
and then to restore our health we lose our money.
We live as if we are never going to die,
and we Die as if we never lived.........
Car dealers will survive lah...Originally Posted by Rysk
The car buyers have been absorbing the costs all along anyway.
The financiers are going to see a dip in the targets though
I like! But whatever it is, one can be sure that every month 100% of the COE quota will still be taken up I think this will impact the new car market more than used car.
is there a loan tenure restriction for resale car if say it is a 2 year old car?
Max 5 years loan irregardlessOriginally Posted by kane
and if the car is 7 years old with 3 years left to run?Originally Posted by nochoice
3 years is less than 5 years... max is 5 years... what is your question again?Originally Posted by kane
Case study 1 (Typical jap car):Originally Posted by kane
7 yr old car with 3 yrs left (OMV less than 20k)
Car price: 30k
Downpayment: 12k
Loan 18k
Instalment at 2.88% for 3 yr: $543
Case study 2 (Typical executive/lux car):
7 yr old car with 3 yrs left (OMV more than 20k)
Car price: 65k
Downpayment: 32.5k
Loan: 32.5k
Instalment at 2.88% for 3 yr: $981
So if I buy a 6 year old car, is my loan tenure 4 years? And is my ltv 50-60% of the purchase price?
Depend on omv laOriginally Posted by kane
Thanks everyone for the support! Find A Home Loan is Standard Chartered #1 broker in 2013.
Case study 3 (New car):Originally Posted by newbie11
Due to new measures, if COE really drop causing car price to drop drastically to 80k. (BIG IF)
New Car price: 80k
Downpayment: 32k
Loan: 48k
Instalment at 1.88% for max 5yr: $875
See? Even if car price drops a lot, still need cash in hand of 32k, still pay high monthly instalment!!!
Think resale cars with less than 5-yrs will benefit.. Buyers no need to fork out too much even loan cap at 50% or 60%Originally Posted by Wild Falcon
cars will still be affordable lah, as long as you can moderate your expectations. altis 7 yr old cost only abt 30k+. you guys all ppty investors, what is freaking 30k????
There is no good or bad location. There is only good or bad price.
Hahah. Correct!Originally Posted by Shanhz
no dif to me, I never believe in taking car loans, really waste of money unless one is in the business of renting cars.