Why buying a car such a hassle?

[Guest roadrash]

My fren have been complaining of trying to buy an OPC 2nd hand car which ranges from 15k-19k. He tried twice but loan was not approve.Why is that? He used to buy big bikes of 24k - 26k and it's problem free. What's the dif.for laons procedures between cars and bikes? And does anyone knows of any car dealer which have in house loans with a hassle free procedures?

[aStRoBo]

did he try james? the singpost loan too.

[Guest roadrash]

James? There's a minimum income right?

[prego08220]

Things i've got to know the other time when taking car loan.

 

1) Whats your friend income & alsodoes he have any debts with other loan company?

 

2) Any on going lawyer case?

 

Hopefully this will help..

[Guest roadrash]

thanks. will advice him on this.

[jia_yvon]

buy car n buy bike is totally different in terms of loan side

 

but bike, maybe u pay a downpayment, shop will do IN-house loan for u, usually have a higher interest rate compare to bank.

 

but for car, usually ppl wan low interest rate, they will go for bank/finiance company. n for bank/finiance company, they have a certain guide line to follow. like monthly basic income, work for how long etc etc...

 

james is under GE money. so far GE is the most aggresive loan in sg. compare to hong leong or other banks like dbs, hsbc or citibank.

 

if im not wrong, if ur fren wann loan below 20k, usually the interest rate will be higher compare to loan above 30k. most likely is 3.75% (1 to 7 yrs )or 4% (8 yrs n above) , but look at the b right side is, although his interest rate is high, his loan amount is less.

 

if ur fren wanan secure his loan, either he muz have a fixed income of minimum 2k per month, if not, throw more downpayment.. tts it.

[duracellb]

My fren have been complaining of trying to buy an OPC 2nd hand car which ranges from 15k-19k. He tried twice but loan was not approve.Why is that? He used to buy big bikes of 24k - 26k and it's problem free. What's the dif.for laons procedures between cars and bikes? And does anyone knows of any car dealer which have in house loans with a hassle free procedures?

 

my guess is, when you take bike loan, it is usually in-house loan given out by the bike shop. whether it is hassle free depends on the shop you are dealing with. some need income proof, some need guarantor, some don't bother.

 

when you buy new car from the authorised dealer, you will loan from banks or finance coy. they will do credit assessment on whether to lend, and how much to lend. normally they will cut down the approved loan amt if they are not comfortable with the borrower's income status. If they totally reject, the borrower's income or credit standing might not be so good.

 

But for used car or PI car, you can get in-house loans from the car dealers which are usually more liberal.

[Guest roadrash]

my guess is, when you take bike loan, it is usually in-house loan given out by the bike shop. whether it is hassle free depends on the shop you are dealing with. some need income proof, some need guarantor, some don't bother.

 

when you buy new car from the authorised dealer, you will loan from banks or finance coy. they will do credit assessment on whether to lend, and how much to lend. normally they will cut down the approved loan amt if they are not comfortable with the borrower's income status. If they totally reject, the borrower's income or credit standing might not be so good.

 

But for used car or PI car, you can get in-house loans from the car dealers which are usually more liberal.

 

ok thanks. my fren is more interested in having in-house loan. Anyone can recommend him which shop got in house loan? Cause according to him whenever he applied, the car dealer will always say use in house loan but ended up they try bank loan and has rejected 3rd time already.

[MrLau]

ok thanks. my fren is more interested in having in-house loan. Anyone can recommend him which shop got in house loan? Cause according to him whenever he applied, the car dealer will always say use in house loan but ended up they try bank loan and has rejected 3rd time already.

 

Try this :

 

Description : For 30 Years, Lian Hong is known for its comprehensive range of services, helping people get the loans they deserve. We help individuals with troubled or no established credit to finance a quality car and simultaneausly re-establish credit.

 

Lian Hong Pte Ltd

Address : 818 Up Bt Timah Rd

Singapore 678150

Telephone : 6769 4850

Fax : 6760 2662

Services: Finance, Insurance, Used Car Dealer

[Guest roadrash]

Thanks Mr Lau

[Throttle]

Honest truth?

 

It's all about money.

Got money no hassle leh, just pay, transfer name and go.

Standard procedure.

[heaven51]

Try this :

 

Description : For 30 Years, Lian Hong is known for its comprehensive range of services, helping people get the loans they deserve. We help individuals with troubled or no established credit to finance a quality car and simultaneausly re-establish credit.

 

Lian Hong Pte Ltd

Address : 818 Up Bt Timah Rd

Singapore 678150

Telephone : 6769 4850

Fax : 6760 2662

Services: Finance, Insurance, Used Car Dealer

 

Yea... True... My friend working there... They help individuals to secure a loan...

 

** I'm not related to the shop, jus dat my good friend working there >>>