[MAS] will place a cap on motor vehicle loans from 26 Feb
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Originally posted by Red5xx:
you going to change new car again?...
May change to driving taxi again.....
then I will need your walky ID.... "Member got any job for me ?"
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There's a few "financial institution" still giving out 100% loan because they are not under the obligation of MAS ruling.........
Who say Sinkies stupid?.......this type of loophole very fast tio dig out liao..........
Of course the hardest hit will be the 2nd hand car dealer, in 2002, my good buddy nearly went bankrupt, not because no money, all his money on all his fleet of used car, suddenly COE went so low, can loan 10 years, don't need downpayment, knn, all go buy new cars, all his used car tiao du, bo pian, closed down, auction away all the used car better, at least can take back something..........
Than no more boss, sell away his condo, live with parent, become a freelance car dealer..........
2010, used car market revive again, join venture with some friends, 东山在起..........
Today receive his SMS..........."knnbccb".........
He never bath...........