PAP says Car for cash rich people only..... the rest can fark spider take bus....

numero uno · Feb 25, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

Narong Wongwan said:
Yes back when 30% down was required...car dealers got innovative ideas to adjust car prices up and offer rebates or installment free period.
Other sinkies would draw on credit line to fulfill downpayment....

great idea. long time overdue. no money sinkie mentality is to borrow form cdit card etc til max. then recession comes like in 1997, repo man comes and repossess car. the cow beh cow bu. great idea to weed out the low class crap who spoil the market. even peons want to own a car? next you wouldd have all those china and FT pinoy wanting to own a car by borrowing till 100%. when recession come they cabut like in dubai and leaves their mess around. this is great. for once I salute the garmen

ykhuser · Feb 25, 2013

I_Hate_Pappies said:
Wonder what will happen to those sales personnels who need to travel around using car, will their companies increase their car allowances? If not, how? Suck thumb? If yes, where these extra $ come from? Consumers can suck thumb liao. :oIo:

car rental business will rocket through the sky.
car dealers sale will tunnel all the way to hell.

Narong Wongwan · Feb 25, 2013

ykhuser said:
car rental business will rocket through the sky.
car dealers sale will tunnel all the way to hell.

Long term lease might become attractive.
Then again remains to be seen if creative ideas sre hatched by car dealers....machiam those rebates cash back offers seen before.

Conqueror · Feb 25, 2013

I Hope This Is A Good Cooling Measure

bushtucker said:
this will weed out those taking high loans with long tenures to pay for high COEs on new cars.

Guess how far it will go down. 40k ?

ykhuser · Feb 25, 2013

Narong Wongwan said:
Long term lease might become attractive.
Then again remains to be seen if creative ideas sre hatched by car dealers....machiam those rebates cash back offers seen before.

you sign 3 years with them actually is cheaper than getting a car.
everything settle for you.insurance, servicing,repair..car break down they finds you replacement.there are no 1 day where you have to take bus when there is a sudden breakdown

only 1 thing.singaporean like face.if gf find out is not your personal car, they will look down on you

SCORPI0N · Feb 25, 2013

peppertail said:
Why do 'first-timers' get a car loan easier? Did i miss something?

Like first time buyers of HDB flats hehe

Cestbon · Feb 25, 2013

Coming month COE will drop and the car price will increase.
Overall total selling price will be same.

Cestbon · Feb 25, 2013

Re: I Hope This Is A Good Cooling Measure

COE will drop till $50k
Those buy car COE $90 will be in deep shit. No one will buy from them
Also those try to sell car will also in deep shit problem.
I like the new regulation. COE will drop, Road traffic will better in 2 year time.

watchman8 · Feb 26, 2013

Cestbon said:
Coming month COE will drop and the car price will increase.
Overall total selling price will be same.

How? Demand is going to soften because of huge upfront payment. Supply remains the same. Car dealers need to clear stock. I think mass market car prices will drop significantly, though luxury car price drop will be less pronounced.

kryonlight · Feb 26, 2013

Cestbon said:
Coming month COE will drop and the car price will increase.
Overall total selling price will be same.

I agree with you. Lesser number of available COEs from February onwards (approximately 220 less per month) means they have to sell the cars at a higher price in order to earn the same amount of profits as before. If they don't jack up the prices, sooner or later they will have to close shop or downsize.

http://app.lta.gov.sg/data/apps/news/press/2012/COE_Quota_Aug12-Jan13.pdf
http://app.lta.gov.sg/data/apps/new..._QuotaforBiddingExercisesfromFeb13toJul13.pdf

Fook Seng · Feb 26, 2013

garlic said:
Let's see how low COE will drop

This change will push the marginal buyers off the queue and once the demand is moderated the COE will slow its upward increase. The heavier upfront cash payment for large or luxury cars means while marginal buyers will be pushed off the queue, the medium income buyers will now have to take a smaller car instead of the larger car and join in the queue. The impact on COE could be negligible for the small cars category as these two factors neutralize each other. I see a moderation of large cars COE though.

The market for Japanese cars will be back in vogue especially the larger capacity cars at the expense of the German Marques. After a short period of a couple of months for the market to find the right level, the COE will continue on its long term upward climb, albeit at a slower pace due the reduced but still increasing overall demand.

Fook Seng · Feb 26, 2013

Cestbon said:
COE will drop till $50k
Those buy car COE $90 will be in deep shit. No one will buy from them
Also those try to sell car will also in deep shit problem.
I like the new regulation. COE will drop, Road traffic will better in 2 year time.

COE prices do not affect traffic. COE numbers do. Anyway don't think COE prices will drop by very much especially for small cars as buyers for large cars could be forced to buy smaller cars and fill the vacuum vacated by marginal buyers. There could be a moderation for large car COE, though. The upward growth will continue after a two months period of adjustment but will slow down in pace.

CLIMAX · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

MAS thinks it is smart with this policy, but has it ever been smart all these years if COE prices had kept on rising and rising and it cannot do anything with any of their 'smart' policies?

Narong Wongwan · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

CLIMAX said:
MAS thinks it is smart with this policy, but has it ever been smart all these years if COE prices had kept on rising and rising and it cannot do anything with any of their 'smart' policies?

COE system was never about regulating traffic.
It is another one of pappies' milk money schemes, thus drastic drop in prices was never their intention.
The latest move is mainly to weed out marginal car buyers. Another was to make cars 'more expensive' upfront for middle class.
So end result is poor to middle class sinkies need to lower expectations yet again and either go without cars or switch to lower category of cars, thus paving way for rich to buy cheaper luxury cars.

Lordshiva · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

Lord Shiva went past BMW showroom and everybody like in a fucking frenzy ....suspect COE will shoot up again for this month ,.......just what the PAP wanted

winnipegjets · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

What has happened to the billions they collect from road tolls and COE every year?

Tuayapeh · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

winnipegjets said:
What has happened to the billions they collect from road tolls and COE every year?

go one round around the shop pretending to be invested in all kinds of 'loss making" projects and end up in their private numbered bank accounts in Switzerland lor...

Tuayapeh says if we dig AIM and all their CCB projects long and hard enough you will find that the fucking PAP and their cronies have been robbing this country blind....

GenghisKHAN · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

winnipegjets said:
What has happened to the billions they collect from road tolls and COE every year?

What about the billions of maid levies received all these years? To feed the few who go on french cooking lessons and eat free mangoes because of the power they have? To feed the FTs by printing expensive booklets for the maids to teach them how to transfer agencies and bully their employers?

roastgoose · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

winnipegjets said:
What has happened to the billions they collect from road tolls and COE every year?

Mostly these will be disinvested.

SC0RPION · Feb 26, 2013

Re: MAS to place cap on motor vehicle loans from Tuesday Feb 26

CLIMAX said:
MAS thinks it is smart with this policy, but has it ever been smart all these years if COE prices had kept on rising and rising and it cannot do anything with any of their 'smart' policies?

GenghisKHAN said:
What about the billions of maid levies received all these years? To feed the few who go on french cooking lessons and eat free mangoes because of the power they have? To feed the FTs by printing expensive booklets for the maids to teach them how to transfer agencies and bully their employers?

Good morning and have a good day.

PAP says Car for cash rich people only..... the rest can fark spider take bus....

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