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Old 11th January 2013, 02:24 PM   #1 (permalink)
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Don't let COEs be a source of bad credit

Don't let COEs be a source of bad credit

by Edward Foo
05:57 PM Jan 07, 2013


In the United States, they call it quantitative easing. In Singapore, I suppose the Monetary Authority of Singapore has the luxury of relaxing lending rules, the most obvious being for car buying.

In the 1980s, one had to put a 20-per-cent down payment to even be entertained by a salesman. Now, one gets offers such as a $1 drive-away, or no instalments for the first year, to entice the car buying public.

Steps are being taken to control credit card default. Perhaps, Certificate of Entitlement (COE) prices should similarly be reined in to less damaging levels and to prevent foolish spending.

We would not want mass bankruptcies if the economy turns bad, which would also affect the banks.

Source: http://www.todayonline.com/Voices/ED...-of-bad-credit

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