Abcd1234 Neutral Newbie June 28, 2009 Share June 28, 2009 All, Can a non-PR in singapore apply car loan in singapore bank without guarantoo? if yes, any recommendation ? thx. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
wilnam Neutral Newbie August 2, 2015 Share August 2, 2015 All, i am new to this forum. I am interested in knowing which new car parallel importer offers the best in house loan? Anyone any idea? 1 Link to post Share on other sites More sharing options...
Pr1nse 1st Gear February 13, 2017 Share February 13, 2017 Saw this advert last week . Some might know this company , which imports cars by themselves . The question here is the interest rate. Has anyone taken a loan from them? Or is there something in between the lines which I can't seem to see :) 1 Link to post Share on other sites More sharing options...
Vratenza Supersonic February 13, 2017 Share February 13, 2017 What interest rate? The ad is just selling a car that is only 1.99% brand new..... Means 98.11% are old... Second hand car say second hand lah... Saw this advert last week .Some might know this company , which imports cars by themselves .The question here is the interest rate.Has anyone taken a loan from them?Or is there something in between the lines which I can't seem to see :) Link to post Share on other sites More sharing options...
Cypher 4th Gear February 14, 2017 Share February 14, 2017 Need some opinions. Is it true that Dealers earn less commission from In-house loan compared to tied-up Banks? Eg.. need to pay certain amount(bank commission) because when taking In-house loan they don't earn this commission + Admin fee(sounds familiar)... 1 Link to post Share on other sites More sharing options...
Watwheels Supersonic February 14, 2017 Share February 14, 2017 Need some opinions. Is it true that Dealers earn less commission from In-house loan compared to tied-up Banks? Eg.. need to pay certain amount(bank commission) because when taking In-house loan they don't earn this commission + Admin fee(sounds familiar)... Why not ask what is in the T&C for such good rates? True or false doesn't give you the big picture. Link to post Share on other sites More sharing options...
Cypher 4th Gear February 14, 2017 Share February 14, 2017 Why not ask what is in the T&C for such good rates? True or false doesn't give you the big picture.Sorry if I didn't make myself clear. What the dealer is asking was to pay the amount of commission which is due to them because the bank loan approval wasn't successful. And also this so called "Admin" fee payable because of taking up In-house loan. Hence asking those in the know whether they earn less commission from In-house loan despite the higher interest rate one has to pay.. PS - Asking on behalf of someone and its not 2nd hand car.. Link to post Share on other sites More sharing options...
Ingenius Turbocharged February 14, 2017 Share February 14, 2017 Need some opinions. Is it true that Dealers earn less commission from In-house loan compared to tied-up Banks? Eg.. need to pay certain amount(bank commission) because when taking In-house loan they don't earn this commission + Admin fee(sounds familiar)... In-house loan the interest rate is much higher, so by right the dealer should earn more. Link to post Share on other sites More sharing options...
SuPerBoRed Twincharged February 14, 2017 Share February 14, 2017 Can't say i know alot about the market rates for in-house vs bank ... but i guess if got importer willing to lower rates to get buyers.. it just means they got caught ordering too much .. and need to sell lower and quicker to get the cars off their books Link to post Share on other sites More sharing options...
Cypher 4th Gear February 14, 2017 Share February 14, 2017 In-house loan the interest rate is much higher, so by right the dealer should earn more.Thats my thought too though I could be wrong. This smells like what 2nd hand dealers would pull off on unsuspecting buyers(Admin Fees).. Not some company selling new cars(Not PI mind you). Link to post Share on other sites More sharing options...
Tianmo Hypersonic February 14, 2017 Share February 14, 2017 (edited) where did this In House loan come from? The "In House" take a loan from the bank and lend it to you, you pay for the bank interest and an interest they want to make (profit on the loan), thats why In house loan always higher interest. The moment you have to take In House loan, means your credit up lorry no banks want to loan you liao, and if you still want to buy car, in house loan is your only option. Plus they taking a bigger risk in such cases, they dont chop you now, wait for xmas meh. simi fee also is hao siao one, in between the line is " limbey want to chop you". Edited February 14, 2017 by Tianmo 1 Link to post Share on other sites More sharing options...
Myxilplix Turbocharged February 14, 2017 Share February 14, 2017 I got bored and called around, most in-house loans being offered for agar agar 3.98% Link to post Share on other sites More sharing options...
TQaR 2nd Gear February 14, 2017 Share February 14, 2017 (edited) Quite simple > in bank loans the interest rate is lower hence the commission earned by the dealer is definitely lesser. but the commission earned also depends on the loan amount, hence you will see dealers push that u make low downpayment and take more because they earn more simple. for in-house loan, its given by a financial institution who will not bother much about your credit rating as they charge higher interest rate. from my experience when i was doing my 5 year COE renewal, the particular dealer intentionally didn't let me know for 2 weeks that the bank rejected the loan (could figure out from the rejection letter). but he did that so at the very end he told me why not take in-house loan which has higher interest but its instant approval. haha little did he know that i did my homework and arranged another loan already. so yea P.S. car dealers are normal human beings like u and me, very natural that you want to do business and earn money, but when you DELIBERATELY cheat customers is what annoys me. there are definitely good dealers and good salesman, but of course the odd one out makes you suspicious of everyone else. Edited February 14, 2017 by TQaR 2 Link to post Share on other sites More sharing options...
Tianmo Hypersonic February 14, 2017 Share February 14, 2017 No,I don't care it. Thanks. Yup, I think nobody cares what you going to advertise later too. Link to post Share on other sites More sharing options...
Cresmico July 24, 2017 Share July 24, 2017 Quite simple > in bank loans the interest rate is lower hence the commission earned by the dealer is definitely lesser. but the commission earned also depends on the loan amount, hence you will see dealers push that u make low downpayment and take more because they earn more simple. for in-house loan, its given by a financial institution who will not bother much about your credit rating as they charge higher interest rate. from my experience when i was doing my 5 year COE renewal, the particular dealer intentionally didn't let me know for 2 weeks that the bank rejected the loan (could figure out from the rejection letter). but he did that so at the very end he told me why not take in-house loan which has higher interest but its instant approval. haha little did he know that i did my homework and arranged another loan already. so yea P.S. car dealers are normal human beings like u and me, very natural that you want to do business and earn money, but when you DELIBERATELY cheat customers is what annoys me. there are definitely good dealers and good salesman, but of course the odd one out makes you suspicious of everyone else. Aiyo... I guess it really depends on the financial institution/ particular salesman cos for me personally i had a good experience taking on a COE renewal loan from APL Credit (aplcredit.net), actually it was recommended by my friend who had a pleasant experience with them too. Maybe really should go for the ones people tried and tested. Like I heard Speedcredit also very good, or APL Credit, or ThinkOne, etc. 1 Link to post Share on other sites More sharing options...
UncleAtas Turbocharged July 24, 2017 Share July 24, 2017 1st day of Register 1st Post of self advert. Even give URL. Haha. Link to post Share on other sites More sharing options...
Ahbengdriver 6th Gear July 24, 2017 Share July 24, 2017 try not to touch these in-house loans. Go for something within your budget and get the regular bank loans, which is around 2.98% now? Link to post Share on other sites More sharing options...
Cresmico July 25, 2017 Share July 25, 2017 1st day of Register 1st Post of self advert. Even give URL. Haha. Yeah 1st day register, but no, if you like, Speedcredit (speedcredit.com.sg) is also good, also recommended by a colleague of mine! Anyway, go for bank loans first because they usually provide the lowest rates, but they're more stringent on the credit checks. So I guess at the end of the day, it really depends on each individual's case. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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