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Category Archives for Financial Planning
Beating the Car COE System
Yesterday, everyone watched with keen interest the car COE prices as this was the first COE bidding session after the restrictions in car loan and increases in car taxes were announced. Before I go into a hypothetical discussion of how we can beat the COE system, here are the figures for March’s results: Category […]
MAS Consultation Paper on FAIR
Yesterday, MAS released a consultation paper on the recommendations of the Financial Advisory Industry Review (FAIR). The consultation paper seeks feedback on all the recommendations made by the FAIR Panel as well as some additional recommendations from MAS. The FAIR Panel concluded its review of the financial advisory (FA) industry late last year and released […]
Paying Less Interest in Car Loans?
I initially thought that consumers will be able to pay much lesser interest to the finance companies for car loans due to the reduction in car loan tenure from 10 years to 5 years. Unfortunately, the banks have already started to increase their interest rates to reflect on the shorter loan tenure. One bank has […]
Car Loan Restrictions and Other Changes
Yesterday, MAS announced a series of measures to curb the maximum loans that buyers of a car can take: For a motor vehicle with Open Market Value (OMV) that does not exceed $20,000, the maximum loan-to-value (LTV) is 60% of the purchase price, including relevant taxes and the price of the Certificate of Entitlement, where […]
FAIR Review Recommendations
Yesterday, MAS held a press release session to present the Financial Advisory Industry Review (FAIR) Panel report. After months of discussion, the panel finally came up with a list of suggestions. I felt that the suggestions having the most direct impact to consumers will be the development of a web portal to allow people to […]