Categories : Auto Repair

 

MAS eases auto loan curbs CAR buyers can take a larger loan from Friday onwards. The Monetary Authority of Singapore (MAS) will relax the more than three-year-old automobile financing restrictions and allow purchasers to borrow up to 70 per cent of the car cost and pay it back over as much as seven years instead of five years. This is for vehicles with a free market value (OMV) of as much as S$ 20,000. Formerly, the optimum loan-to-value (LTV) ratio for such cars was 60 percent. For automobiles with an OMV above S$ 20,000, the LTV is now 60 percent from 50 per cent previously. The optimum loan period is the same at 7 years, and is also up from five years. MAS stated the adjustments follow the sustained small amounts in certification of privilege (COE) premiums and in resulting inflationary pressures over the last 3 years. …
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“> See all stories on this subject Used vehicle values fall nearly 2%in May The rate of decrease in utilized values is speeding up, according to Cap HPI, as costs moved 1.9 %in Might. Black Book Live reported a typical down movement of 1.9% at 3-years, 60,000 miles in May, with values general having stopped by 5% since the start of the year. Derren Martin, global senior vehicle editor at Cap HPI, said: “& ldquo; It is notable that values have dropped ahead of the market on some volume designs, particularly those under one-year old, as pressure built from new car rate offers and pre-registration activity. Later-plated examples of some traditional automobiles visited in between £& pound; 500 and & pound; 600. & rdquo; The service says older, lower value vehicles have likewise struggled, due to low need. As a result, values came by almost 3% on average for these vehicles. Martin stated: “& ldquo; The 2015 Customer Rights Expense has not assisted, with consumers able to return vehicles within 30 days or after one failed repair effort. Numerous dealers feel older, higher mileage automobiles are simply not worth the threat.” & rdquo; As the weather improved convertibles bucked the pattern of all other volume sectors. Generally convertibles enhanced slightly, with petrol Audi A5 Cabriolet and the Volkswagen Golf Cabriolet (petrol and diesel variations) carrying out well. Some Mini Convertibles also increased in price. Pressure on price is anticipated to continue as volumes in the utilized vehicle marketplace are most likely to stay high, due to daily rental registrations, pre-registration activity and total high brand-new automobile registrations over the past four-years. Martin continued: “& ldquo; With volumes continuing to be high for some time yet, it is most likely that rates will continue to ease down during June, particularly as need is unlikely to enhance. In 2014, black book live values moved down by 1.4% on average and it is likely that this year will see at least the same.” & rdquo; Every concern of Fleet News the editor chooses his favourite remark from the past 2 weeks– get included for your possibility to …
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