| Changes to Vehicle tax & loan conditions | |
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+39suirattigas chien Derek Suzuki yob_ha ChrisD Fatboy Gray Xavier.t Tituman Bangla123 slinger nutty88 fata buzz1211 DLWL sob Khorkar ranctor nientsu jeffman88 tonnyfong poresia hkhamateur nrafee kyleyann wilier izoard AJTAURUS madmaru TDO dudekiller00 snagy23 billi andrew-golf Lipp Fronzenre Begbie bogeyman Roystonnn 43 posters |
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Roystonnn Super Active Golfer
Posts : 1324 Join date : 2009-07-05 Age : 43 Location : Sometimes Serangoon Sometimes India
| Subject: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 12:08 am | |
| New ruling to consider if u thinking of buyin new car.
Financing Scheme: (w.e.f today) 1. Cars with OMV at $20k & less Maximum loan at 60% of vehicle price where loan tenure is 5yrs maximum.
2. Cars with OMV more than $20k Maximum loan at 50% of vehicle price where loan tenure is 5yrs maximum.
Additional Registration Fee: (w.e.f March COE bid) 1. Cars with OMV at $20k & less ARF maintains at current 100% of OMV.
2. Cars with OMV more than $20k ARF is 140% on every incremental value above $20k until $49,999.
Anyone buying car soon??? [center] | |
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bogeyman Junior Golfer
Posts : 102 Join date : 2010-11-17
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 12:43 am | |
| Any idea if this extends to used cars as well? If it does, think a lot of the used car dealers gonna run into a lot of trouble. | |
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Begbie Super Active Golfer
Posts : 1330 Join date : 2010-06-04 Age : 46
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 12:44 am | |
| So for the fellas who bought cars at 90k coe ? This is gonna stink | |
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Fronzenre Newbie Golfer
Posts : 75 Join date : 2012-09-29 Age : 33 Location : west
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 12:58 am | |
| Finally they do something about the loan amount and period. To the people who bought COE at 90k... cursed luck | |
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Lipp Junior Golfer
Posts : 229 Join date : 2010-04-20
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 1:00 am | |
| Only the wealthy will be able to own car or those cash rich. what a good change.... | |
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andrew-golf Incredibly Active Golfer
Posts : 4972 Join date : 2009-10-20 Location : Always on the fairway
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 6:35 am | |
| Again.. They drop a bomb into a helpless industry...
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billi Very Active Golfer
Posts : 751 Join date : 2010-03-17
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 7:28 am | |
| There will be more and more goods vehicle on the road .still jamm. | |
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snagy23 Senior Golfer
Posts : 432 Join date : 2012-04-28
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 7:46 am | |
| i guess we will see alot more bigger cars on the road. tough luck for the car industry! | |
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dudekiller00 Newbie Golfer
Posts : 41 Join date : 2009-10-16 Age : 45
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 8:10 am | |
| Big Big bomb.... well done Singapore.. the Rich will drive a car, the mid will drive a bike, the poor will drive a bicycle... | |
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TDO Super Active Golfer
Posts : 2255 Join date : 2011-10-02 Age : 68 Location : West
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 8:26 am | |
| There will be loopholes, especially on the loam amount. All that needs to be done is a little bit of number manipulating on the sales price or trade-in vehicle prices. The only thing that bites will be the 5 years loan term. | |
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madmaru Senior Golfer
Posts : 263 Join date : 2011-10-08 Age : 51
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 8:37 am | |
| it's forcing the people "forget about car u can't afford it anymore , take our 1st world public transport instead ( the 1 that breaks down every week and someday kill many of u !!!) | |
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AJTAURUS Senior Golfer
Posts : 466 Join date : 2010-07-27 Location : Sembawang & Johor Bahru
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 8:38 am | |
| Does it apply only to new cars? Does it apply to used/coe cars? Bummer.......! | |
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TDO Super Active Golfer
Posts : 2255 Join date : 2011-10-02 Age : 68 Location : West
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billi Very Active Golfer
Posts : 751 Join date : 2010-03-17
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 8:47 am | |
| - madmaru wrote:
- it's forcing the people "forget about car u can't afford it anymore , take our 1st world public transport instead ( the 1 that breaks down every week and someday kill many of u !!!)
It will not kill us. Caught fire onli. | |
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wilier izoard Very Active Golfer
Posts : 913 Join date : 2010-01-13 Location : Bangkok
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:01 am | |
| Now car has become a luxury in Singapore . Only the cash rich can afford . | |
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AJTAURUS Senior Golfer
Posts : 466 Join date : 2010-07-27 Location : Sembawang & Johor Bahru
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kyleyann Senior Golfer
Posts : 459 Join date : 2009-10-13
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:16 am | |
| IMO, it's a good pre-emptive, forced, protective measure to prep for the upcoming rise in interest rates. | |
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nrafee Caddy
Posts : 1830 Join date : 2009-12-23 Location : [strike]Tiong Bahru[/strike] Bedok
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:18 am | |
| Assuming a basic japanese car right now... say Toyota vios at 130K.
you will need to cough out cash for 50% - 65K
your monthly installment (capped at 5 year tenure) would easily be $1200 per month.
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AJTAURUS Senior Golfer
Posts : 466 Join date : 2010-07-27 Location : Sembawang & Johor Bahru
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:20 am | |
| - nrafee wrote:
- Assuming a basic japanese car right now... say Toyota vios at 130K.
you will need to cough out cash for 50% - 65K
your monthly installment (capped at 5 year tenure) would easily be $1200 per month.
like that no more toys and golf outings for a regular guy like me....... | |
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hkhamateur Incredibly Active Golfer
Posts : 3068 Join date : 2009-09-29 Age : 51 Location : North-East
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poresia Super Active Golfer
Posts : 1527 Join date : 2009-11-10 Age : 59 Location : singapore
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:26 am | |
| i predicted 2 outcome:
1. drop in votes for ruling party in next GE. to me, this is rubbish countermeasure.
2. Drop in COE as consumers cannot afford high COE anymore but wonder if government want this to happen. | |
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tonnyfong Newbie Golfer
Posts : 95 Join date : 2011-09-01 Age : 36 Location : West, Singapore
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:29 am | |
| Normally new cars nowadays installment wise also have to be 1k+ isn't it?
I think that the difficult part would just be the initial down payment of 40% or 50% of the car price with COE.
So if can't fork that money out, don't need think of buying car.
Someone can set up at transportation business? From JB to sg to pick us singaporean golfers up. Machiam private taxi. | |
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AJTAURUS Senior Golfer
Posts : 466 Join date : 2010-07-27 Location : Sembawang & Johor Bahru
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:30 am | |
| - poresia wrote:
- i predicted 2 outcome:
1. drop in votes for ruling party in next GE. to me, this is rubbish countermeasure.
2. Drop in COE as consumers cannot afford high COE anymore but wonder if government want this to happen. Even before this loan issue, the expectation of the ruling party loosing votes are already high. So, I assume with this issue this is going to be higher?? | |
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AJTAURUS Senior Golfer
Posts : 466 Join date : 2010-07-27 Location : Sembawang & Johor Bahru
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:32 am | |
| - tonnyfong wrote:
- Normally new cars nowadays installment wise also have to be 1k+ isn't it?
I think that the difficult part would just be the initial down payment of 40% or 50% of the car price with COE.
So if can't fork that money out, don't need think of buying car.
Someone can set up at transportation business? From JB to sg to pick us singaporean golfers up. Machiam private taxi. Good idea bro, then I can offer my services.....my wife is malaysian and she can drive our MPV for thise service...hehehe.....! | |
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tonnyfong Newbie Golfer
Posts : 95 Join date : 2011-09-01 Age : 36 Location : West, Singapore
| Subject: Re: Changes to Vehicle tax & loan conditions Tue Feb 26, 2013 9:55 am | |
| Let's try doing the math here.
S$15 per pax per 1 way trip. So a day from 1 flight is
$15 * 4(person) * 2(trips: to & fro) = S$120
1 month => 120*30days = S$3600
WAHhhh... that's quite a lot eh for just ferrying 1 flight per day eh. | |
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