Forum
Last updated: 

Buying a car

We are a newly wed couple and we wanted to buy a car. My uncle was selling his car because he desperately needs money. Since it was very affordable for that high quality car, we decided to take a loan and buy the car to my uncle.The loan will be done after five years which is a very long time.We felt like we can pay for it and not be that hurtful when paying.

User comments

  • user image

    No Name

    Loans are known to be cheap and has low interest rate compared to those credit cards. It is useful at times like this because they can be short-term or long-term loans. Personal loans are nice because the better credit score you get, the higher the annual income. Thus, they will offer you loans which is more affordable for you.

    2020.03.24 15:44
  • user image

    Natalie

    I took a two-wheeler loan from Shriram city and buy my personal bike. loans are such a headache but if your loan provider charges low interest then people easily tolerate it.

    2021.07.09 16:4

Please leave your knowledge and opinion!

Related Forums

I have debts that need to be paid would it be a good idea for me to use a personal loan in order to pay these debts?

Can I loan money for our house damaged by a typhoon?

Can I get a house loan if I recently got discharged from bankruptcy?

Can I get a loan to treatment my old father? Because I belong to a poor family?

They gave me more than what I requested

Related Reviews

A great contender for the 7-year personal loans provider

This card is a great contender for the 7-year personal loans lead yet is the relative newcomer on the block. This does not stop them from being very aggressive in Singapore these past few years. Although Bank of China $martLoan’s interest rates are on the high side, Bank of China is generally more lenient than most other banks in Singapore and have a lower minimum annual income.

Bank of China $martLoan / Bank of China

HSBC personal loan offers the longest loan tenure of 7 years in Singapore

If you need to borrow a large amount but cannot afford a big monthly repayment, then you should give consideration to the HSBC Personal Loan. This HSBC personal loan offers the longest loan tenure of 7 years in Singapore which means you’ll be paying 7 years’ worth of interest. HSBC is also great for those who need cash urgently as you can get approval-in-principle within one minute and receive the money the next working day. Isn’t that just wonderful?

HSBC Personal Loan / HSBC Bank Singapore

Sign up for CreditAble in order to cash your credit line using the Maybank CreditAble Term Loan

Maybank does not exactly offer a proper personal loan in itself but its term loan is linked to its personal credit line product. You just need to sign up for CreditAble in order to cash your credit line using the Maybank CreditAble Term Loan but note the terms & conditions and annual fee however. In my personal opinion, the loan amount is small while the interest is high, so it may be best to avoid this one.

Maybank Personal Loan / Maybank Singapore

DBS personal loans are based on either your credit card or personal line of credit

DBS personal loans are based on either your credit card or personal line of credit. Thus if you have DBS credit card or DBS Cashline and a DBS deposit account, you can apply through internet banking and get your loan processed immediately and credited instantly into your account. However if you don’t have a DBS credit card you can still get this loan, but you will have to furnish your income documents and obviously you won’t get the funds right away

DBS Personal Loan / DBS Bank

You can actually apply for a credit card and personal loan at the same time

To apply for a UOB Personal Loan, you’ll need either a UOB CashPlus account or UOB credit card as UOB draws from your credit card limit. If you’re new to UOB, you can apply for a credit card and personal loan at the same time but note that terms & conditions like the fee schedule of the credit card will also apply to your UOB Personal Loan. UOB bank is one of the few banks that provide instant approval for personal loans for submissions between 7am to 8pm by new UOB customers.

UOB Personal Loan / United Overseas Bank

$199 cashback for loans of $1,000 and above if you apply through MoneySmart

Although standard Chartered personal loan’s published rates aren’t that awesome, you still get a much lower interest rate as well as $199 cashback for loans of $1,000 and above if you apply through MoneySmart for your loan amounts of $1,000 to $250,000. Like most of its competitors, Standard Chartered Bank promises next-day cash. You can apply via MyInfo via MoneySmart to get instant approval and loan disbursement

Standard Chartered CashOne Personal Loan / Standard Chartered Bank Singapore