Looks like Singapore is indeed a land where dreams become realities....until you read the fine print. Lol.... $300 per month to own a car.
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Serious Joke of the day: Own a car for $300 a month
- Thread starter Scrooball (clone)
- Start date
Performance motors pioneered it back then will their innovative progressive installments. Pay no installments for 1st year.
Haha just the insurance and road tax is more than $300. Hope the suckers have some spare cash in their posb bank account before they buy the car
MAS eases car loan rules: Higher borrowing limit, longer loan tenure
SINGAPORE - The Monetary Authority of Singapore (MAS ) has eased car loan guidelines, just three years after instituting them.
For cars with an open market value (OMV) of $20,000 or less, buyers can borrow up to 70 per cent of the purchase price, up from 60 per cent. Buyers of cars with OMVs of more than $20,000 can now borrow up to 60 per cent of the purchase price, up from 50 per cent.
The loan tenure has also been raised to seven years, from five.
MAS deputy managing director Ong Chong Tee said: "In 2013, when we introduced the measures, our immediate aim was to help restrain escalating COE premiums and consequent inflationary pressures.
"Since then, demand conditions have moderated and it is timely to ease the measures."
Motor traders said many parties have found ways to circumvent the loan curbs. One common way is to inflate the invoice of the car. Another is to offer leases instead of hire-purchase deals.
Of late, ride-hailing apps like Uber have also been offering high loans to potential car buyers. They can do so because the cars are registered under a company's name, as private-hire vehicles, instead of the buyer's name.
SINGAPORE - The Monetary Authority of Singapore (MAS ) has eased car loan guidelines, just three years after instituting them.
For cars with an open market value (OMV) of $20,000 or less, buyers can borrow up to 70 per cent of the purchase price, up from 60 per cent. Buyers of cars with OMVs of more than $20,000 can now borrow up to 60 per cent of the purchase price, up from 50 per cent.
The loan tenure has also been raised to seven years, from five.
MAS deputy managing director Ong Chong Tee said: "In 2013, when we introduced the measures, our immediate aim was to help restrain escalating COE premiums and consequent inflationary pressures.
"Since then, demand conditions have moderated and it is timely to ease the measures."
Motor traders said many parties have found ways to circumvent the loan curbs. One common way is to inflate the invoice of the car. Another is to offer leases instead of hire-purchase deals.
Of late, ride-hailing apps like Uber have also been offering high loans to potential car buyers. They can do so because the cars are registered under a company's name, as private-hire vehicles, instead of the buyer's name.
Strange. After reading the * the car only cost $300x30 = $9k other than the 2%+ interest . 
When a lanjiao Altis costs $120,000, how is it possible to own a Hyundai for $300 per month? $90,000 upfront payment is it? haha!
Taxes are good. More tax means more help to needy people. Stop complaining and do your part too.
The Familee most in need of help, pay ur taxes, their Temasick vault oridi empty.
maybe its a time share vehicle,u have to share with six other owners and can only drive the car one day a week.
It is not impossible, but once you scratch away the paint you will see this familiar brand
I know liao they are using qoo10 strategy - choose color add $. Qoo10 always state a low price then when we select the color will add a ridiculous amount to it and no option to choose colourless.
Cars got unaccounted hidden costs.
Asset depreciation and maintenance costs interests payment.
$300 per month still not end of story.
You pay and pay like PAP.
Take public transport lah its cheaper.
Asset depreciation and maintenance costs interests payment.
$300 per month still not end of story.
You pay and pay like PAP.
Take public transport lah its cheaper.
