Car loan that won't reflect under Credit Bureau

[Es0teric]

Hey guys, can I check which car financing won't reflect your motor loans inside Credit Bureau?

[ToyotaShuttle]

check your phone to see which ah long sent you sms for taking loans

[Volvobrick]

Probably Ah Long Financing.... 

[Vid]

Full cash

[inlinesix]

You need to find a loan broker to arrange it.

These lenders don’t deal with consumers directly.

Not Ah Loong. Not loan from car dealers 

I don’t have Loan Broker to recommend 

Edited April 17, 2022 by inlinesix

[Mahjong74]

34 minutes ago, Es0teric said:

Hey guys, can I check which car financing won't reflect your motor loans inside Credit Bureau?

You can try Grab or Comfort Cab. Don't even need car financing. 😁

[Es0teric]

Is it true Tokyo financing not under credit bureau?

[inlinesix]

Just now, Mahjong74 said:

You can try Grab or Comfort Cab. Don't even need car financing. 😁

By removing car loan out of Credit Bureau Report, TDSR will be better.

[Ct3833]

40 minutes ago, Es0teric said:

Hey guys, can I check which car financing won't reflect your motor loans inside Credit Bureau?

Try looking for those who could provide in house financing,  maybe they could do it ?  But interest will be high,  you may want to consider rental instead, or dont drive for now, COE is so high , not worth  buying a car now especially if you have to workaround credit bureau. 

Edited April 17, 2022 by Ct3833

[inlinesix]

Just now, Es0teric said:

Is it true Tokyo financing not under credit bureau?

You need Loan Broker to arrange it.

Once you go to them directly, your chance bye bye liao

[inlinesix]

Just now, Ct3833 said:

Try looking for those who could provide in house financing,  maybe they could do it ? 

Those sure die 1.

There are non bank FI that offer it.

But need loan broker to arrange it.

[Ct3833]

2 minutes ago, inlinesix said:

Those sure die 1.

There are non bank FI that offer it.

But need loan broker to arrange it.

Thanks. I dont dare to take this kind of loan because i know i wont be able to pay back 🤣

[inlinesix]

Just now, Ct3833 said:

Thanks. I dont dare to take this kind of loan because i know i wont be able to pay back 🤣

Just need to be careful of ballooning scheme.

There is no different from your usual car loan except it does not affect your TDSR.

[Mkl22]

With TDSR, Ah gong is telling you no money don’t go buy car! 
🤣

[Mahjong74]

10 minutes ago, inlinesix said:

By removing car loan out of Credit Bureau Report, TDSR will be better.

Bank new car interest is around 2 to 2.3%

Those in-house car or private finance house interest is 4 to 5%. 

Effective interest rate, I really got no eyes see.

So TS better think twice before approach those in-house finance! 

[Thaiyotakamli]

Try use ur friend name

[Mkl22]

3 minutes ago, Thaiyotakamli said:

Try use ur friend name

Or use friend IC and borrow from Ah long? 🤣

[inlinesix]

2 minutes ago, Mahjong74 said:

Bank new car interest is around 2 to 2.3%

Those in-house car or private finance house interest is 4 to 5%. 

Effective interest rate, I really got no eyes see.

So TS better think twice before approach those in-house finance! 

With this move, it frees up his TDSR to buy property(ies).

Maybe income from these properties can more than cover it.