Personal Finance
A car loan is different from a home loan.
By A Singaporean Stockmarket Investor (ASSI)  •  April 8, 2014
The Singapore government came up with many rounds of cooling measures not just for the buying of real estate but also for the buying of cars. Gone are the days when someone could walk into a car showroom, put down a $1 deposit and borrow the rest.
Now, whoever is interested in buying a car must be prepared to pay 50% of the asking price from his own pocket while using a loan to cover the rest. Otherwise, sorry, no car. Although many potential buyers lamented about this, it is actually a good thing to have. It force feeds financial prudence into people to whom the concept is alien. How many car buyers actually give the topic of car loan some serious, in-depth thought before signing on that dotted line? Most don't think much more than "How much is the interest rate?" and "How long can I borrow for?" Unlike ......
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By A Singaporean Stockmarket Investor (ASSI)
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