Serious Car loan rules relaxed

[lifeafter41]

Provided that the person have ability to borrow and banks willing to lend.

With the loan timeline extended to 7 years, the loan repayment will be lower, more people will be able to borrow.......expect Coe to go up in the next bidding cycle.

 

[garlic]

but it will drive prices higher and prop up the flagging economy....inflation is good,deflation is bad.

Frenchbriefs waiting to buy eh? Who knows after lifting, whether supply > demand or other way round.

 

[STUCK_HERE]

Is this even news? Car is the most expensive in the world. And the authorities lend you money to buy it.

 

[jw5]

If you need a loan to buy a car, you probably should not be buying a car.

 

[Runifyouhaveto]

some of your skills

ah RUN is humbled. RUN is a sad and broke man in real life.
RUN does not know the next move but RUN knows the implications of the current developments.

- commodities prices generally dropped at least 50% in the past 18 months. This is like Lehman crisis

Implications: some banks are still very excited about their metals, oil and gas exposures, and refuse to write down on debt exposure to this sector.



- did u notice that in the past 18 months, JPY drops almost as much as gold, against USD? Japanese economists are so smart to engineer this devaluation swee swee. Today, helpless Kia Sorento, Hyundai Sante Fe costs 30% more than Made-In-Japan SUVs from Nissan, Mitsubishi, Subaru in Singapore.

Implications: We will see some recovery in commodities before US Presidential elections but if commodity prices continue to weaken after Trump's victory or US rate hike, don't be surprise that we will see USDJPY at 150-200 level before June 1, 2017.



- In 2H16, China is expected to be the strongest adopter of helicopter money among major economies in the world. Technically US slowed down QE and in the recent Sendai G7 meeting, UK and Germany hinted that Helicopter money is less effective for Eurozone.

Implications: Now, US and Eurozone feels that Keynesian concept of printing money for increasing consumer demand should be fine-tuned, Global consumption-growth may halt and Chinese are able to see this coming and kept pressing US this month, to reveal how much interest rates will increase in 2H16. By 2H16, China will likely be forced to engage in FX devaluation, madly throwing helicopter money at an unprecedented level and even President Xi needs to quietly allow corruption again.



Just my guess.

 

[krafty]

ah RUN is humbled. RUN is a sad and broke man in real life.
RUN does not know the next move but RUN knows the implications of the current developments.

- commodities prices generally dropped at least 50% in the past 18 months. This is like Lehman crisis

Implications: some banks are still very excited about their metals, oil and gas exposures, and refuse to write down on debt exposure to this sector.



- did u notice that in the past 18 months, JPY drops almost as much as gold, against USD? Japanese economists are so smart to engineer this devaluation swee swee. Today, helpless Kia Sorento, Hyundai Sante Fe costs 30% more than Made-In-Japan SUVs from Nissan, Mitsubishi, Subaru in Singapore.

Implications: We will see some recovery in commodities before US Presidential elections but if commodity prices continue to weaken after Trump's victory or US rate hike, don't be surprise that we will see USDJPY at 150-200 level before June 1, 2017.



- In 2H16, China is expected to be the strongest adopter of helicopter money among major economies in the world. Technically US slowed down QE and in the recent Sendai G7 meeting, UK and Germany hinted that Helicopter money is less effective for Eurozone.

Implications: Now, US and Eurozone feels that Keynesian concept of printing money for increasing consumer demand should be fine-tuned, Global consumption-growth may halt and Chinese are able to see this coming and kept pressing US this month, to reveal how much interest rates will increase in 2H16. By 2H16, China will likely be forced to engage in FX devaluation, madly throwing helicopter money at an unprecedented level and even President Xi needs to quietly allow corruption again.



Just my guess.

ah run,i dun know why you feel depressed, and i sincerely hoped that you can moved on from your unhappiness and flex your muscles again. i know sometimes, it can be difficult but just try again. pleas buck up, you are not that bad compared to those i have seen back in s'pore. i, too have a very stressful past, no joke, being manipulated by lky's cronies, being insulted and humiliated by the cronies, double triple whammy, all i have experienced before.

financial world market is all about guesswork but with bits and pieces of analysing. i think you may be right, next week, when OPEC meet, i doubt they will cut oil as price is within their expectation. however, i do anticipate that they will pump more to throw the oil rigs in US into disarray.

but i dun understand why you say Xi will quietly allow corruption again? will corruption weaken the yuan further?

 

[Runifyouhaveto]

i, too have a very stressful past, no joke, being manipulated by lky's cronies, being insulted and humiliated by the cronies, double triple whammy, all i have experienced before.

I understand. I suffered some greviance that destroyed my life and even with real proof, two ministers and two government agencies refuse to take action, hahaha, they don't want to give me a response. I really don't know why.

ah RUN hopes more people can place greater support for the incumbent so that they can have greater opportunity to experience the fairness of the system first-hand like ah RUN.

 

[Runifyouhaveto]

but i dun understand why you say Xi will quietly allow corruption again? will corruption weaken the yuan further?

President Xi and President Jokowi both embarked on a massive anti-corruption drive when they took over. Last year in Indonesia, there was a slowdown because all the rich people are questioned about the source of their income when they buy cars, houses or start a business. This year, Indonesia's system got leaner and 2016 is definitely a better year than 2015 for Indonesia.

However, in China, the whole economy will crash deeper in 2016 than 2015. Port cargo data in Hong Kong revealed slowdown in global consumer demand for China products. So other than devaluation of Chinese Yuan, President Xi is literally forced to close one eye to corruption in 2H16, so that state funds can be used to bail out the the financial system, launch more white elephant projects and encourage officials to wine and dine like the past.

all these to generate Keynesian demand locally within China, amid global slow down.


Last night's news: Bitcoin Is Soaring On Unprecedented Burst In Chinese Buying
http://www.zerohedge.com/news/2016-05-28/bitcoin-soaring-unprecedented-burst-chinese-buying
Bitcoin is used to transfer money out of countries with FX controls

 

[Runifyouhaveto]

With the loan timeline extended to 7 years, the loan repayment will be lower, more people will be able to borrow.......expect Coe to go up in the next bidding cycle.

COE Quota for June/July is higher
So prices might remain relatively unchanged

During my drinking session last night, industry insiders told me that there was big growth in Car Leasing business, especially for Volkswagen, BMW and Audi because many could out fork out enough cash due to the earlier restrictions. But they still want a car because interest rates are Low.

With Uber and Grab entering the car leasing business, relaxing the car loan rules can prevent the automotive financing-ecology to be unhealthy skewed towards leasing, instead of direct ownership.

 

[extinguisher]

Kenso Leasing Pte Ltd
Manhattan House
151 Chin Swee Road #13-07
Singapore 169876
Singapore

This finance company's Kenso Leasing Pte Ltd charges a late full penalty of $80 plus adfditional late payment interests even you settle by 2 days late.
If your car loan monthly repayment is $500 and due date is on 15th of the month and late by 1 day they will charge $80 in full with NO pro-rated.
Likewise I am puzzle if their staff resigned in middle of the month does this company pay them 1 full month same as they charges customers in full amount penalty.
This company is really a sucking finance company.
Can anyone comments.

 

[Runifyouhaveto]

If you need a loan to buy a car, you probably should not be buying a car.

This is very sound advice
But car is a produtivity and lifestyle tool.

If we 100% ban car loan business, leasing will flourish.

 

[mmngck]

You comfort me, I comfort you.
Like real.

But so fake. Very disgusting.

 

[extinguisher]

Can a car finance company charges a full penalty of $80 for $500 monthly loan repayment and NO pro-rated penalty even you settle by 1-2 day late.
In additional this finance company charges late payment interests.
I think they are worse than loan shark when they charges the full penalty by 1 day late.
Can anyone share my comments !!!

 

[extinguisher]

Does Hong Leong Finance or bank finance charges a full penalty for 1-2 days late payment beside a reasonable late payment interests charges ???
Kenso Leasing is charging a full $80 penalty even you settle by 1-2 days or 10 days late after due date plus additional late payment charges.

 

[babuSingh]

this shows the level of financial prudence shown by sinkies if the government have to interfere from 80% car loan to 50% and now to 70%

Who in the right mind pays $1.1k a month for a honda vezel for 40% downpayment and then leaves the car in your car park from mon-fri and then everyday you eat economic rice for $3 in order to save that miserable $200-300

Sinkies seems to enjoy entrapping themselves into the deep abyss of loans

 

[congo9]

COE Quota for June/July is higher
So prices might remain relatively unchanged

During my drinking session last night, industry insiders told me that there was big growth in Car Leasing business, especially for Volkswagen, BMW and Audi because many could out fork out enough cash due to the earlier restrictions. But they still want a car because interest rates are Low.

With Uber and Grab entering the car leasing business, relaxing the car loan rules can prevent the automotive financing-ecology to be unhealthy skewed towards leasing, instead of direct ownership.

Why car leasing is not healthy? It should be this way. A car in Singapore last for 10 years.

Car ownership with high loans at artificially inflated price is rather toxic.

 

[krafty]

I understand. I suffered some greviance that destroyed my life and even with real proof, two ministers and two government agencies refuse to take action, hahaha, they don't want to give me a response. I really don't know why.

ah RUN hopes more people can place greater support for the incumbent so that they can have greater opportunity to experience the fairness of the system first-hand like ah RUN.

ah run, just have to moved on. no point brooding over the past again, i can really understand how you feel as i was in similar shoes. at least you are better, you dun have to resort to driving taxi but it was fun in a way then.

for we know, from michael to david's sexual rendezvous, we know that pap is declining. if only ah kong is still around, he will be proud of my acheivement in oz. haha..lmfao.

 

[Hans168]

jerking sgian like puppets.......

 

[Runifyouhaveto]

this shows the level of financial prudence shown by sinkies if the government have to interfere from 80% car loan to 50% and now to 70%

Who in the right mind pays $1.1k a month for a honda vezel for 40% downpayment and then leaves the car in your car park from mon-fri and then everyday you eat economic rice for $3 in order to save that miserable $200-300

Sinkies seems to enjoy entrapping themselves into the deep abyss of loans

Yes, krafty bro talked to me about a concept earlier this week. Leverage is more important than pricing when it comes to sg properties and cars. Singaporeans buy things don't need to see price, they just concern about how much they can maximum loan.

- With the recent crash in Sibor, look at the mad rush for Property project GEM.
- With such Low interest rates, people also want to borrow as much as possible to own a dream car. We impose a limit on their loan quantum, they turn to car leasing.

 

[Runifyouhaveto]

Car ownership with high loans at artificially inflated price is rather toxic.

Although the interest payable is based on the first day's quantum (interest payable does not decrease as you reduce loan principal amount), maybe there is a small merit in car loans as the interest rates payable are fixed throughout the loan period.

At least you don't get rude shocks from roller-coaster floating property loan rates.