Categories : Auto Repair

MAS relieves vehicle loan rules as COE prices sink

Loan tenures have actually been lengthened. The unabated drop in motor vehicle rates has actually triggered the Monetary Authority of Singapore (MAS) to reduce constraints on vehicle funding. The reserve bank exposed that loan-to-value (LTV) ratios and loan periods permitted car loans will be eased, on back of the growth in Certification of Privilege (COE) quotas and the rise in car deregistrations. Starting May 27, the LTV ratio for automobile funding will be raised to 70% for cars valued at $20,000 or less, from 60% formerly. The LTV ratio for cars valued above $20,000 will be raised to 60%, from 50% previously. At the same time, the maximum loan period has actually been reached 7 years, from five years previously. The limitations were first rolled out in 2013 to moderate the need for cars and COEs and relieve inflationary pressures. “& ldquo; Ever since, need conditions have actually moderated and it is prompt to reduce the procedures. MAS will, nevertheless, continue to have the LTV and loan period framework in location for the long term to promote monetary vigilance and help support the promo of a car-lite society,” & rdquo; stated Ong Chong Tee, Deputy Managing Director, MAS. Click here to discover marketing, material sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM chances with us …

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2017 USF2000 vehicle unveiled at IMS The USF-17 features a carbon fiber monocoque chassis to satisfy the latest FIA safety standards along with the 2.0-liter Mazda MZR engine and Cooper tires. It will replace the Van Diemen/Elan tube-frame USF2000 automobile made use of considering that 1999. The USF-17 is based upon the exact same chassis utilized in European F4 series, BRDC British Solution 3 Championship. Noteworthy improvements consist of a PFC four-piston brake bundle, Cosworth Omega L2 Plus data system with Cosworth CFW 277 guiding wheel (complete with incorporated dash and gear change paddles) and a Magneti Marelli electronic gearshift system, forged aluminum American Racing Technomesh wheels and stainless-steel exhaust headers. Unique USF2000 sidepods, engine cover, front and rear wing end plates, nose cone and front cover combine to form an aero plan that consists of carbon composite wings with adjustable twin-element rear wing and a carbon composite diffuser. The rolling chassis is priced at $51,800. “Today marks yet another great moment for the Mazda Road to Indy as we take another step forward into a brilliant future with the brand-new Tatuus USF-17,” said Dan Andersen, owner and CEO of Andersen Promotions. “I have actually watched Tatuus work with my staff and our partners on this task over the last 6 months, and I am persuaded we made the right option on this brand-new vehicle. “They heard exactly what I desired in a race automobile and delivered a lovely, technologically innovative and, I believe, fast racecar. I need to thank Project Supervisor Scot Elkins, who has actually shepherded this task from its beginning.” The prototype USF-17 vehicle will be evaluated by Mazda IMSA driver Joel Miller over the next 6 weeks at NCM Motorsports Park in Bowling Green, Ky., Barber Motorsports Park, Road America and Lucas Oil Raceway at Indianapolis. Delivery of the first batch of 15 vehicles– all of which have actually currently been sold– is set for September, with a preliminary two-day series test slated for late October. A 2nd batch of 15 automobiles is arranged for shipment in Dec.
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