WHEN WILL CAR LOAN STOP USING RULE OF 68?

[Flexamoria]

Instead use EIR, fair and square

 

[chopra]

Rule 78, not 68


Basically compare the true cost between

payout fully(ie reduce duration; ie rule 78)

versus

pay as per original duration

 

[Flexamoria]

Rule 78, not 68
Basically compare the true cost between
payout fully(ie reduce duration; ie rule 78)
versus
pay as per original duration

Alamak, how to edit title

 

[Zorroh]

It is no longer mandatory to follow but there is no impetus to change as all financial institutions are beneficiaries of this unfair rule. The clueless laymen pays.

https://www.mti.gov.sg/Resources/Legislation/Hire-Purchase-FAQs