MAS and Car loan curb issues

[Spidey10]

Yes but that's only for PI and not all PI, and the interest rate is so damn high. Jialat la just called my SE he say price revised then let me know again. I think they all up price. I know I place order last week. Damn it

Can simply revise price meh? No so call basis to revise ah..just loan quantum and period can call for revision ah..cannot be lah..

[Mockngbrd]

Coe huat ah!!!

[flashbang]

I still find it hard to believe Gov will relax the loan with the car-lite thing in the pipe-line.

 

I believe it is a balancing act. More car loans also mean better biz for banks.

 

Anyway, minister can come out proclaim car-lite loudly, but I don't believe him also. Why? Cos CAR OWNERS are the ones generating the revenue for LTA. How does it work out? Simply take a look at the 2016 budget.

 

Excise duties on motor vehicles - $410,187,000

Motor vehicle taxes (ARF, road tax) - $1,797,069,000

Vehicle quota premiums aka COE - $5,406,000,000

 

Total figure = $7.6 billion

 

If we go car lite, who's going to pay for your train breakdowns? Who repair the roads that buses use? 

[Jbren]

Dont expect coe to be drop anymore .....alamak help me ?!!!!

[Mockngbrd]

Car lite still in progress ah, car lite for all non elites! Elite huat ah! Amdk!

[Ktglfc]

Win win win ...

Govt win, cos still able to get more $ from high COE

Banks win, cos can loan and get interest ..

Those waiting on the sidelines with not that much cash in hand, wins ...

[bronzy]

I still find it hard to believe Gov will relax the loan with the car-lite thing in the pipe-line.

bro quota no change so still car lite ah

[Epr0mlse]

Is it from immediate effect?

[donchew76]

Is it from immediate effect?

From 27 may which is tomorrow

[kumquat]

Yeah my family have someone looking for a new car budget around 150-160K.. waiting waiting. Now gonna go in liao 

 

Wah bro... you and your family really chiong new cars very often. Salute! All these new rules in place clearly not helping the rich folks like you.

[Freeder]

Yes but that's only for PI and not all PI, and the interest rate is so damn high. Jialat la just called my SE he say price revised then let me know again. I think they all up price. I know I place order last week. Damn it

Erh.. If u car hunt more seriously , u can see those mgt cars

[kumquat]

Can simply revise price meh? No so call basis to revise ah..just loan quantum and period can call for revision ah..cannot be lah..

 

Robbers need basis to rob someone meh? They happy happy stick a finger up in the air and say the wind is now blowing west and up you 10k also can what. Hahaha.

[t0y0ta]

2016 Coe drop... no problem, ease loan curbs and revenue maintained.

 

2017 coe drop? .. no problem just trigger clawback in the name of carlite v2.0

 

Lta huat...

[Thaiyotakamli]

Next property loan

[flashbang]

Next property loan

 

Once property prices drop enough, ABSD will probably be cut. Follow MAS pattern, cannot fully remove else the market will go crazy again. Must slowly ease off. Looking at property prices it might be likely towards end of the year 

[Showster]

Regardless of Uber or Grab, it ultimately raises the COE prices!!! So what if you or I can loan more or longer, it means we pay more for COE.

 

I'm deeply disappointed with this move. I'd rather pay cash for something worthy $100, then to take a loan pay installment for $150. Pui!!!

Don't worry, you will get the chance to pay in cash $150.

[Yeshe]

i m kinda worried, economy is really going to be so bad that MAS has to choot this stunt to boost it.

[helloeveryone]

Then they should stay status quo, and then apply the old rules to these entities. But instead government ease the loan and tenure for all. So suddenly, tens of thousands of ppl will come bid for the COE.

 

Those holding cash and waiting for COE to crash will be jin dulan liao.

Especially those who just bought 1 or 2 years cars and waiting ones....