Borneo Motor's customers will now be able to access a range of flexible financial solutions thanks to a new partnership with Toyota Financial Services.
60 days lift on loan curb is sufficient to help clear off stocks, but dealers are looking for other measures to help business.
Following MAS' announcement of lift of loan curb on used cars, buyers are returning to pre-owned cars to snatch up good deals.
MAS has rejected the industry's appeal to soften the loan curbs on pre-owned cars, citing increased demands for COEs as reason.
MAS has announced it will allow the OMV of used motor vehicles to be adjusted to depreciation to derive appropriate LTV limit.
Used car dealers submit fresh applications to MAS to appeal the new auto loan restrictions as profits plunge with reduced sales across the market.
Finance experts urge buyers to add up ownership costs and reconsider car purchases, especially in this term of three highs - COE, downpayment & interest rates.
The Monetary Authority of Singapore (MAS) will place a cap on motor vehicle loans from tomorrow, 26th February 2013, Tuesday.