Just heard MAS imposed some pretty ridiculous restrictions on car financing. Now you can only finance a maximum of 50-60% depending on the value of the car, & total number of years for loan reduced to 5 years.
We were thinking of buying a car in a couple of months, but not under these new laws.
What's the experience here, does MAS change these laws often? Why the need for these super tight restrictions? Car sales are going to plummet I am sure & banks will suffer from less business surely?