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  1. #1

    Default Read before you loan: Balloon Scheme

    Credits to the writer for going down to the details.

    Good write-up on the balloon scheme that is used to attract ppl into buying cars at a lower monthly installment. Pls read before you decide to take up this loan.

    Morale of the story: Live within your means.

    Enjoy reading!

  2. #2
    Join Date
    Sep 2006
    Seng Kang


    Thank you for sharing Bro.

    On top of such schemes, $0 down payment, 'rebates' are ways to entice owners to buy the vehicles too bah..

    Similar to the ways banks recommend you to take credit loan, take up to 4 times your monthly income and repay over 6-12-24 months, that is where they earn your interests, and they wait for you to default on 1 month and they can slap the minimum penalty and interests..

    Whenever possible, make sure always prepare at least additional 10-15% extra monthly on top of your budget when owning a car, servicing, breakdowns, wear and tear sometimes can turn up to a sum too if not prepared.. :)
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  3. #3


    Thanks torres gor for sharing.. yes there is still many chaps out there happily taking up ballon loans without.. errmm.. i like this sentence

    "Sorry to burst your balloon! Truth hurts but it’s for your own good."

    we study hard so that people don't look down on us, we study even harder so that we don't look down on people...

    *p.s I am returning whatever knowledge that is taken from here by posting it back. I am not guru, not pro but just another LMC supporter. :cheers2:

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