New Car loan restriction

[Botakhead]

Originally Posted by HANDFUL

Heard commercial vehicles not affected..
Maybe all buy Van.. Then they kill you with higher tax for commercial vehicles

But now cannot own commercial van under private owner, must be registered under company asset.

[Sexy Under]

Originally Posted by bochapsing

SGD2,200.00 each...

nnkc! kah chia also so ex!

simi also wan 1st. wait we 1st in the world to take a loan to buy kah chia then they song.

[Greendevil]

Dear TS, for a 150K car, assuming you can only get a 50% only :

PRICE 150k - DOWNPAYMENT 75K, LOAN 75K @ interest rate of 1.88%

MONTHLY INSTALLMENT is $1368

if you can get 60% loan, may not be a too good news as well

PRICE 150K - DOWNPAYMENT 60K, LOAN 90K @interest rate 1.88%

MONTHLY INSTALLMENT is $1641

This is a very good strategy to shut the singaporean mouth up with all the complain on raising COE hitting 100K.

basically, the lower income too poor to buy a car so wont be bother to complain, cos only interest in SMRT. the rich too loaded to even bother with COE, so left the large group of middle income to make noise. Now by raising the bar for 'entry' level', they hope a few years time, ppl will get used to it and only the middle upper tier will be able to afford the car, no more complain. timing so good, election due by then.

[puzzleman]

well i am not suprised if singaporeans starts to demonstrate or riot hahahah
guess next election will be great and may have huge bigger suprises

CHANGE OF POWER

[puffysong]

Wow, with this news means I would get to change my car in the coming years ahead.
The COE prices will drop, lesser ppl will bit for them.
Lesser ppl that cannot afford $1k++ monthly installment a month will consider owning a car.
They will not be able to fork out that 40% up front payment
Bank loan interest will be down too. Cos lesser ppl loan.U can no long do a 10 years loan period.

[Iemanishere]

The way I see is mid income people like most of us will suffer the most.. others no change..sad sad.. now u stop the bank for giving out loan only to 50 or 60%.. banks also will feel the heat... lets us all see what will happen as this will not end so soon as a topic...
Dont buy or upgrade house people can take it... now the basic for a singaporean to enjoy or call his or her own.. will not come true as well..

Sad sad

[Iemanishere]

Old man use to tell me.. got money as in some not rich... cannot buy house.. now cannot buy car....so how...
His reply... we all take that money go give girl.....

[Beachsea]

...

provided our taxi fare decrease significantly...

if not the Taxi drivers and company are laughing all the way.
Ok , i know its hard earn money , but drivers don't complain to me that you are not earning if you are lazy

i have many taxi friends , the laziest whom is the also lousiest is earning around $2.5-3K with very limited driving cause he like to relax and tuang!

TAXI FARE PLEASE DOWN!!!!!!!
(morning from pasir ris to town , Taxi + peak charges + ERP = $32) weekday

[Botakhead]

Cannot own car, means cannot have sex in car, cannot bbbj in car, cannot drive and park at secluded spot and drive away quickly if spotted.........etc etc.

[Botakhead]

Who wants to take taxi and have sex or bbbj or tell taxi uncle/aunty :"please park at that darker spot, we want to have wild sex in the back seat."

[harunoki]

Originally Posted by syt_punisher

Fuck man i tell you, cb !
As a sales person, i am very very disgusted by it.
Not only did it scrap my plans to buy car next month, but i have to continue BMW liao...

You can afford BMW is not bad mah. Most of us here want Toyota also cannot afford.

[wally888]

Sure car dealers will find creative ways to close deals. Maybe backdates
Bump up new car price + over-trade your used car?
e.g. instead of $120k bump up till $170k, trade in car price bump up from $50k to $100k. With the $100k(assume used car fully paid up) u can use to pay downpayment of $85k. Of course, the loan amount of about $80k approval depends on your income affordability.

Above juz my crazy idea, do feel free to comment

[siapa6969]

buy a bike, and cycle to work.

[LovePotion]

ride a bicycle with IU unit mounted on the bicycle

[Bangster]

Time to do a GTA.

This govt totally pisses me off.

NBCCB, just when I was scouring to buy a used car this happens.