Depreciation To Be Taken Into Account In Calculating Loan Limit
The Monetary Authority of Singapore (MAS) has announced that it will take into account depreciation when calculating the Open Market Value (OMV) of a used car to determine which tier the vehicle falls under with regard to the loan-to-value ratio. According to MAS’ press release, “MAS will adopt a straight-line depreciation in the value of […]
MAS Temporarily Lifts Loan Restrictions For 60 Days For Some Used Cars
The temporary 60-day concession will begin on the 6th of April 2013. The Monetary Authority of Singapore (MAS) announced that the recent car loan restrictions will be lifted from 6th of April till 4th of June. All interested buyers can now purchase a used car with the previous loan arrangement prior to the implement of […]