Interest rate for new car loan

[golgotha]

Was told by someone that inetrest rate went up to 2.68%. any truth to that? Seems pretty high!

 

[JLMC]

Re: Interest rate for new car loan

Was told by someone that inetrest rate went up to 2.68%. any truth to that? Seems pretty high!

all rates r going up bro!
MAS is studying how far it will go on Sibor now..maybe by Jun/10, car loan rate will be min 3.5% and house loan will be min 4~5%..just like 2005/06 maybe?

 

[golgotha]

Re: Interest rate for new car loan

my goodness..............how to afford car like that? Salary also never go up.

 

[Gondolz]

Re: Interest rate for new car loan

all price go up,salary NEVER GO UP.......

 

[martmode8850]

Re: Interest rate for new car loan

it's a spike too much to go from 2.1-2.2% to 3.5% without any factors to push it higher... and we are talking about a 3-4 month movement only... unless the banks are using interest rates to earn the same profit for a lesser loan amount due to the lower COE supply in apr/may...

 

[Slater]

Re: Interest rate for new car loan

Was told by someone that inetrest rate went up to 2.68%. any truth to that? Seems pretty high!

thats what i heard as well. but 3 plus % is ridiculous. how to justify? are we really in the need to slow the growth of economy down?

 

[ac323]

Re: Interest rate for new car loan

Wow,
really Boomz man!!!




cheers

 

[golgotha]

Re: Interest rate for new car loan

Wonder what's the justification for the increase in rates.

 

[ac323]

Re: Interest rate for new car loan

i think is a cycle.............time will come soon for those high COE again...............



cheers

 

[sunboy77]

Re: Interest rate for new car loan

Yes it has gone up.

I tried a new car loan from UOB and it is now 2.68% already. I then tried OCBC and it is also 2.68%. So seems like this is it.

 

[donaldho]

Re: Interest rate for new car loan

Lucky I lock in 1.68% interest rate for housing loan and 2.38% for car loan few mths back

 

[golgotha]

Re: Interest rate for new car loan

sian, i'll never be able to buy my car liao.

 

[Slater]

Re: Interest rate for new car loan

try DBS. heard they still holding at 2.28%

 

[wt_know]

Re: Interest rate for new car loan

aiya ... all talking about fixed rate which is 2.xx%
once you see the effective rate (at least double) especially change car

 

[Slater]

Re: Interest rate for new car loan

sian, i'll never be able to buy my car liao.

down more cash, minimise impact of interest on ur loan

 

[Deadkookaburra]

Re: Interest rate for new car loan

down more cash, minimise impact of interest on ur loan

agree...for loan > 5 years, imagine you are still paying monthly while your car already old and dated with all kinds of wear and tear problems by the 5th year and it's time for a change. a little kindda sad isn't it?

higher interest higher COE...equates to lesser cars on the rds? hopefully

 

[wt_know]

Re: Interest rate for new car loan

another result is higher expenditure needs higher income = swiss life that gov is aiming

a plate of chicken rice at hawker will be $5 in no time !

higher interest higher COE...equates to lesser cars on the rds? hopefully

 

[Slater]

Re: Interest rate for new car loan

another result is higher expenditure needs higher income = swiss life that gov is aiming

a plate of chicken rice at hawker will be $5 in no time !

its already 5 bucks! add extra chicken feet. hehe

 

[golgotha]

Re: Interest rate for new car loan

cash needed for other stuff. Like find chickens............without the rice. I think they accept cash only.

 

[linwq]

Re: Interest rate for new car loan

well everything is a trade off.. down more cash to lower the interest you will be paying but at expense of your own liquidity. And must understand effective interest rate.. it's the real figure and is way higher than the 2.28% or 2.68% we are talking about.