Singapore is anticipating a boost in new vehicle sales following the lifting of restrictions on car financing. The decision means car loans no longer have to be capped at 70% of the purchase price, nor do they have to be repaid within seven years. The state says it ended the restrictions, first imposed in 1995, because car loans form only a small amount of financial institutions’ total loan portfolio and because the level of non-performing car loans is low. The change was in line ...
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