tag:blogger.com,1999:blog-7944902213075756335.post1064624386528260356..comments2024-03-29T10:22:24.187+08:00Comments on A Singaporean Stocks Investor (ASSI): Cooling measures for cars spurned.AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-7944902213075756335.post-57686862846687348522013-04-06T22:56:42.049+08:002013-04-06T22:56:42.049+08:00Loophole plugged:
The Ministry of Trade and Indus...Loophole plugged:<br /><br /><i>The Ministry of Trade and Industry ... announced that, effective today, car buyers seeking vehicle loans in the form of hire purchase or conditional sale agreements from non-MAS-regulated credit/leasing companies would be subjected to similar loan limits imposed by the MAS. The limits will be introduced via the new Hire Purchase Regulations, made under the Hire AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-80863345124426227972013-03-13T21:35:53.255+08:002013-03-13T21:35:53.255+08:00Certificates of Entitlement (COEs) for cars closed...<i>Certificates of Entitlement (COEs) for cars closed sharply lower in the latest bidding exercise on Wednesday.<br /><br />It was the first bidding exercise since the Monetary Authority of Singapore announced restrictions on loans for private cars on February 25.<br /><br />The biggest drop was in the premium for big cars (Category B — 1,601cc and above), which plunged S$34,577 to S$58,090.<br /AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-46494351677778802272013-03-06T22:28:37.581+08:002013-03-06T22:28:37.581+08:00ROFL! ;pROFL! ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-30824300728591948532013-03-06T21:44:10.260+08:002013-03-06T21:44:10.260+08:00Hi SMOL,
The man can't dictate what I buy or ...Hi SMOL,<br /><br />The man can't dictate what I buy or wear if I don't spend his money, right? :P<br /><br />Welcome to the 'I make myself happy club!' :D<br /><br />From, <br />Fan of AK, Aircon of SMOLEYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-83265383909935988192013-03-06T17:58:56.270+08:002013-03-06T17:58:56.270+08:00What about people who are given travel allowances,...What about people who are given travel allowances, say 1500 a month. Amount aside, we're going to have a lot of yelling from different groups.<br /><br />What could have been done is to punish the banks. This I believe is the primary intention, but banks have ways to get back the lost revenue through other means.<br /><br />Banks have been dangling very attractive rates and discounts for 10 markhttps://www.blogger.com/profile/08883557546693071846noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-67432080429753817992013-03-06T15:51:59.785+08:002013-03-06T15:51:59.785+08:00Looks like SMOL has just gotten rid of a sponge an...Looks like SMOL has just gotten rid of a sponge and a princess.<br /><br />CongratsSnOOpy168https://www.blogger.com/profile/16073641443037165395noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-79429832582777637102013-03-06T12:31:02.616+08:002013-03-06T12:31:02.616+08:00Poh Soon,
You very de funny!
That's a very g...Poh Soon,<br /><br />You very de funny!<br /><br />That's a very good trick I'll borrow with pride. Thumbs up.<br /><br />Next time I am in a lively discussion with friends, I say with a deadpan face, "Eh, what day is today?"<br /><br />Let's see what reaction I'll get!<br /><br />LOL!<br />Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-22759703249057041302013-03-06T12:26:53.548+08:002013-03-06T12:26:53.548+08:00Hi SMOL,
Poke away! I appreciate it. :)
After al...Hi SMOL,<br /><br />Poke away! I appreciate it. :)<br /><br />After all, I don't know everything and I am probably wrong in many things. <br /><br />I owe my personal development to pokes, slaps, pinches and punches from many people in my life. This is the honest and <i>painful</i> truth. ;pAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-12085421865330378662013-03-06T11:53:55.889+08:002013-03-06T11:53:55.889+08:00Fans of AK,
I got ask permission from AK some wee...Fans of AK,<br /><br />I got ask permission from AK some weeks back whether I can poke him hor! <br /><br />So don't get the wrong idea ;)<br /><br />Some are ants; I am a cricket.<br /><br />Once upon a time, I can't understand why my ex needs to buy so many shoes and handbags (especially when I am paying for some of them)? What a waste of money!?<br /><br />"Buying them makes me Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-6850263735713413822013-03-06T10:39:26.947+08:002013-03-06T10:39:26.947+08:00Hi SnOOpy168,
Aiyoh, you don't have to go to ...Hi SnOOpy168,<br /><br />Aiyoh, you don't have to go to JB to see people with nice cars trying to save money buying cheap petrol. I see MB, BMW, Audi, Porsche parking illegally at the side of roads waiting to pick up their other halves in the evenings all the time.<br /><br />I always tell my friends that these people have money to buy super expensive cars but don't have the money to parkAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-45656251373646369232013-03-06T10:21:24.480+08:002013-03-06T10:21:24.480+08:00I have known of people who could afford those fanc...I have known of people who could afford those fanciful performance car and ching (modify) them like Initial D type of looks. But then hor, almost 100% go to JB for cheap petrol. These group heng heng never get caught over the 3/4 tank thingy.<br /><br />Eat grass ? Hmmmm<br /><br />Seriously. this action by MAS is to prevent a meltdown later. What happens when another GFC arrives and that people SnOOpy168https://www.blogger.com/profile/16073641443037165395noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-36258364261707580292013-03-06T09:33:07.713+08:002013-03-06T09:33:07.713+08:00Sorry, side tracked a bit here. Was wondering, wh...Sorry, side tracked a bit here. Was wondering, whether any of you having problem retrieving and viewing the SGX announcment especially those that announce the shareholding changes such as the <br /><a href="http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_9E9983DD2EFDA6C448257B240047AA3C/$file/BTEMFORM320130301.pdf?openelement" rel="nofollow">this</a>?<br /><br />Poh Soonhttps://www.blogger.com/profile/13133793415765270549noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-21957786013493722202013-03-05T21:51:34.370+08:002013-03-05T21:51:34.370+08:00SMOL,
Unfortunately, if there was no curb, & i...SMOL,<br />Unfortunately, if there was no curb, & interest rates increase or these guys lose their jobs, the same guys will blame govt for it as well.<br />Like it or not, singaporeans are generally immature - - and they sound like they don't want 'nanny state' but their behavior betrays the fact that they need to be nannied. Meanwhile, the govt does not want to be anybody's Anahttps://www.blogger.com/profile/04893597653717284552noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-46248046226070067502013-03-05T21:11:12.069+08:002013-03-05T21:11:12.069+08:00Hi Endrene,
Yeah! :D
Could you sense the despera...Hi Endrene,<br /><br />Yeah! :D<br /><br />Could you sense the desperation in my cheer here? Hahaha... ;p<br /><br /><i>It is easy to give in to one's materialistic impulses based on affordability - low interest, low monthly repayment. But this is <b>sweet poison</b>.</i><br /><br />Sweet poison indeed...<br /><br />Affordability is such a debatable concept, isn't it? <br /><br />"OhAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-68968840126032752932013-03-05T20:47:07.760+08:002013-03-05T20:47:07.760+08:00Hi tsusmagne,
Let's say if you decide you can...Hi tsusmagne,<br /><br /><i>Let's say if you decide you cannot live without a car and you are willing to forgo everything else and eat grass to fund it. I think I should respect your choice of wanting to eat grass to afford a car. </i><br /><br />I laughed so hard when I read this. ;)<br /><br />OK, you and SMOL are both for a 100% free market system. I am obviously outnumbered here. haha... AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-13363565321583718862013-03-05T20:45:11.720+08:002013-03-05T20:45:11.720+08:00Hi AK,
I understand where SMOL is coming from. Ye...Hi AK,<br /><br />I understand where SMOL is coming from. Yes, empathy, we ought to have. Micro management? Say no, please.<br /><br />But I would like to add to your perspective. The point isn't about 50% or 90%. It is about absolute numbers. With prices of mass market cars doubling from 5 years ago, a 50% loan now is equivalent to 100% then, in terms of loan quantum. Considering that incomeEYhttps://www.blogger.com/profile/07808509235536260830noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-40409536730190657812013-03-05T20:37:40.879+08:002013-03-05T20:37:40.879+08:00Hi veronika,
If a car is required for work, then,...Hi veronika,<br /><br />If a car is required for work, then, I look at it as a cost of doing business. The car becomes a productive asset.<br /><br />If the car then doubles up as a family car, wonderful! :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-42420605591812329322013-03-05T20:34:51.678+08:002013-03-05T20:34:51.678+08:00Hi SMOL,
I am not begrudging anyone his or her as...Hi SMOL,<br /><br />I am not begrudging anyone his or her aspirations. Aspirations are good to have and we all work towards our own.<br /><br />However, taking short cuts to fulfilling those aspirations could be and often is detrimental.<br /><br />It is just like the story of how a farmer tried to make his padi grow faster and gave them all a slight yank. They soon died.<br /><br />All of us AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-79391947514188968142013-03-05T20:08:47.630+08:002013-03-05T20:08:47.630+08:00haha AK,
I was one of those whom this new policy...haha AK, <br /><br />I was one of those whom this new policy is trying to target, although 2 years late. <br /><br />Bought a car 2 years back, just a year out of college, zero down and a 10 year loan. My thinking was: you live only once and salary increases will make it affordable in time to come. <br /><br />Well, the car's a dreadful strain and as I was single then, i actually had no real Thttps://www.blogger.com/profile/06753730192659892707noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-59866904071741825402013-03-05T19:03:12.031+08:002013-03-05T19:03:12.031+08:00Somehow, buying a car may not be "personal co...Somehow, buying a car may not be "personal consumption" .The lines can be blurred.<br /><br />An insurance agent or realtor may argue that the car is part & parcel of his business. It also doubles as a family car. Same goes for all the "professionals" such as one MP wanna be recently.<br /><br />The depreciation costs is real in any scenario: personal or business.<br />ronhttps://www.blogger.com/profile/13885661137371524688noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-78390215846148603892013-03-05T18:00:16.236+08:002013-03-05T18:00:16.236+08:00AK,
Price is a good allocator of scare resources....AK,<br /><br />Price is a good allocator of scare resources. <br /><br />I didn't know level of financial literacy is also needed ;) <br /><br />What next? Must take a MAS required test (like if we qualify to buy overseas stocks, CFDs, forex, etc) if we want to buy anything that involves a loan? <br /><br />Ban credit cards to those who can't pay in full after 30 days? <br /><br />Or Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-68206726872038454422013-03-05T17:09:54.022+08:002013-03-05T17:09:54.022+08:00Hi SnOOpy168,
Well, to be fair, couples need thei...Hi SnOOpy168,<br /><br />Well, to be fair, couples need their own homes more than us singles. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-80824056206894267742013-03-05T17:01:11.662+08:002013-03-05T17:01:11.662+08:00It has always been easier to buy a car/motorcycle ...It has always been easier to buy a car/motorcycle than a house. <br /><br />Imagine that I wasn't slapped with the >35years & above ruling for singles scheme. Perhaps I would have gotten my keys when I am 25-27 years old, when a 3 room HDB isn't really that scary a price.<br /><br />but our government is always at the other side of the fence. Yet those favoured chosen people, didn&SnOOpy168https://www.blogger.com/profile/16073641443037165395noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-91732924727727857072013-03-05T16:08:29.855+08:002013-03-05T16:08:29.855+08:00Hi SMOL,
I feel that if people cannot afford a 50...Hi SMOL,<br /><br />I feel that if people cannot afford a 50% downpayment for a car, they should not buy one. Borrowing to fund personal consumption is not prudent. <br /><br />Unfortunately, since not everyone is prudent, have measures to encourage financial prudence is not a bad idea.<br /><br />As for the example where the government stops people from investing the money in their CPF accounts,AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-22955595565629579922013-03-05T15:28:52.429+08:002013-03-05T15:28:52.429+08:00AK,
My gentle poke to you is that if not consciou...AK,<br /><br />My gentle poke to you is that if not conscious, you may sound like what mainland Chinese friends would say: "Stand talking no back pain." <br /><br />Not everyone can afford 50% or more deposit for a car ;) <br /><br />I would caution against encouraging big daddy to run our lives. <br /><br />What if big daddy says tomorrow they will take away the SRS and CPF investment Singapore Man of Leisurehttps://www.blogger.com/profile/13774067113884418001noreply@blogger.com