Dealers Registered Cars Selling Quick!
Gone with the wind – the used car stocks registered with dealers before the loan restrictions were put in place, sell out quick as hotcakes as the Monetary Authority decided to allow these (which were part of dealers stocks before the restrictions were put in place) to be sold without the new loan restrictions.
The lifting of restrictions started 5th of April 2013 and will last for 60 days.
The MAS has said this lifting of restrictions is temporary and will not be extended.
What’s happening is that some dealers are raising their prices, though it is not by much, still this is a relief for those who are in need of personal transport and also for car dealers with stocks which they had feared they would be stuck with for quite some time.
Take your opportunity now to look around – new cars are still subject to the new loan requirements, but you may just bag a good second hand that allows easier financing (old loan scheme) as was before the curbs.