Full payment for new car.. Any problems?

[Chickenfarm]

More than $100K in one bank

[Robin]

piang... full settlement still got "freebies"

[Chickenfarm]

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i think u fully summarize everything clearly...

 

btw another example is the lady who buy private 4d and won 1st prize..250k she put in banks..kana checked..in the end tio fine and tio chong kong the 250k...but in the beginnign ..i forgot what lead to her case initially...

 

Split the sum into a few banks

[Will_I_Am]

He got caught becoz he "hao lian", declare to the whole world he sells 4000 puffs a day when he was interviewed by the media, after his son's successful overseas venture was mentioned by the PM.

 

 

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How do you think the curry puff fellow got caught? He must have bought some asset using cash upfront.

[Watwheels]

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Split the sum into a few banks

 

Make sure they are not local(gov) banks.

[Chickenfarm]

Kindness begets kindness bro

 

She chin chai wif us, we chin chai wif her oso...the entire transaction is trouble free

[Watwheels]

Thanks for the info.

 

Ppl keep think it's a myth when ppl working for the govt can get all your info just by using your name and ic no.

[Yeshe]

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Any bros here made full payment for your car and receive IRAS notice? I'm considering between taking a loan and making full payment. Heard friends said if you make full payment, IRAS might call you up for checking. How true is this? Any bros kana before? If really so troublesome, i would rather opt for loan. Pls advice. Thanks.

 

no, i dun think IRAS will look for you unless you are paying CASH as in hard cash not from the bank. secondly, it depends on what car you buy lah, if you paying 300k hard cash without auditable reason where the $$ comes from, then you should worry; EVEN if you are taking loan.

 

besides this, the price of the car if you pay full will be 2-3k more expensive.

[Chickenfarm]

 

From what I know from frens in banking sector, alarm will be raised if a single deposit exceeds $100K or few frequent or consecutive deposits out of the blue exceeding tens of thousands Banks and authorities are more vigilant now in light of money laundering and sponsorship for terror activities

[Will_I_Am]

It's real ... have you watch Bourne Ultimatum? It's scary what kind of personal confidential information can be digged out.

[Nothingtodo]

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i think u fully summarize everything clearly...

 

btw another example is the lady who buy private 4d and won 1st prize..250k she put in banks..kana checked..in the end tio fine and tio chong kong the 250k...but in the beginnign ..i forgot what lead to her case initially...

 

 

Hmm.... she did not get to the bank actually, did not even touch the money .... it was discovered during a police raid on those private punters

[Watwheels]

That's Hollywood . In the real world I think they have to get authorisation to get thru individual depts to get the info.

[Nothingtodo]

Oooo... so u watch all 3 liao? Think u watch too much movie also lah.

[Freestylers09]

kan buay suay think in the end tio or kong dunnoe how much...."Pei le fu ren yu zhe bing "

[Freestylers09]

not confirm is how much..but sure will trigger the bank to notice u...

same reason if u do online "william hill" punting...CC company will got trigger if transactions took place...if not those illegal bookies will dont bother to buy people's accounts and let them earn some $ for sake of transactions and draw to cash liao...

[Freestylers09]

put cash keep at home better...everyday at home count...si bei happy

[Scoop]

Yup it true..even for corporate accounts.. : ) all accounts are monitored for amt and frequency of tranactions. any irregular activites would be highlighted to manager, whom like decide whether to ring the bell on you.

[Auron]

like many ppl mentioned.

 

if u have not pay taxes for many years and out of a sudden you pay in full a fa-la-li and drive around town to showoff and your big name and face appear in the new paper, wanbao, sin min. most probably IRAS will invite you to lim kopi. too high profile liao, need to investigate, just like the curry puff seller.

 

as for paying in full for the car, prepare to fork out much more than if you take a loan.

eg. pay in full, 1k extra. take bank loan, interest for 1 year = $750. save $250 if u take bank loan. reason is very simple, SE also earn commission from the bank loan.

 

of course all car companies have different t&c, but in generally u have to pay more if u want to pay in full. this is especially applicable to <$100k car and PI car.