Ailing used car traders will get a temporary reprieve, as the Monetary Authority of Singapore (MAS) announced that car loan curbs on used cars will be lifted for 60 days. This comes after the Singapore Vehicle Traders Association appealed against the restrictions, which it said was hurting the used car trade badly.
Eugene Chng, managing director of Cosmos Automobiles, said: “Whether sixty days is long enough for us to clear our stock, we really wouldn’t know. But any sort of help is good for now.”
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!