Maximum car loan rules are a joke

[rtfm38]

Not worth to loan. Zero drive away is chut pattern. Dealers earn from the bank commission. Drive half way you sell and see. Car no more but loan still with you.

happen to my neighbour, drive his new car to JB without full insurance. Kena stolen, stuck with paying the loan for the next 10 years without a car.

 

[cet87]

So many dealers offering all sorts of schemes to bypass the rule.

Even ADs also join in the party and openly advertising "flexible financing" options.

MAS sleeping?

the best part is with all this 100% loan, some people still cannot get the loan.

 

[cet87]

You never wonder why so many can afford BYD suddenly?

they also 100%??

 

[English Teacher]

You never wonder why so many can afford BYD suddenly?

BYD is cheapest car around already
You talk as if they are expensive

 

[dushensiao]

Poor people make poor decisions. Read that again 10 times.

ya lor car loan is a bad debt, unless it helps in +cashflow.

 

[jq75]

What wrong with more loan ?

Sg only survive on loan ...

Now evened buyed thing like sofa can also taked loan

Buy car first
Suffer later

 

[wlalala]

happen to my neighbour, drive his new car to JB without full insurance. Kena stolen, stuck with paying the loan for the next 10 years without a car.

Comprehensive insurance is mandatory if taking bank loan, many other lenders also require.

Lender taking a big risk here. If your neighbour play punk don't want pay also got nothing to repo.

 

[buffybuffy]

BYD is cheapest car around already
You talk as if they are expensive

I beg to differ. I bought my new car (non BYD) way cheaper through some promotion in Feb.

 

[kenne79]

alamak they enforce u see the car sales drop. how to afford..

 

[ceestudent]

Dealer dare to give loan, people dare to take the loan with higher interest. Then TS care so much for what?
Jealous? nobody stopping you to take also.
Justice warrior? give me a break hor.

 

[English Teacher]

I beg to differ. I bought my new car (non BYD) way cheaper through some promotion in Feb.

now COE is higher than in Feb

you need to compare the price currently

 

[ballastic90]

Good or notch?

 

[buttbERry]

definitely need to crack down on such loans

 

[NintendoSwitch]

Should have just make the ruling "PAY CASH ONLY". Confirm COE will crash until few thousands only.

There are cash rich peepur around wat. Go KTV pay in cash. Etc. They like to have dinners and take fotos wan.

 

[puppey]

then how ? everyone full cash car and condo ?
most ppl borrow to drive and stay in condo , who da f full cash ?

 

[Sibeihaolian]

coe is cyclical

don't recall seeing people complaining about car loans last bumper cycle when coe was cheap

Nowadays no cycle liao with phv in the picture… they are going to gobble up

 

[Ubi-Warrior]

coe is cyclical

don't recall seeing people complaining about car loans last bumper cycle when coe was cheap

When was last down cycle?

Increased population + no increase in COE = no down cycle anytime soon.

Why would Govt want COE to drop anyway?

 

[buttbERry]

is that why more n more cars on the roads?

 

[Godeau]

Otherwise how to keep coe prices high high?

 

[mryongtan]

No loans is the best. Straight away eliminate most of the buyers.