MAS Notice 642 Motor Vehicle Loans
Collateral Type |
Maximum LTV |
New & used passenger cars (all models) |
- Max. LTV 60% if applicable OMV is more than S$20,000
- Max. LTV 70% if applicable OMV is S$20,000 or less
|
In conjunction with the Vehicle Registration Licensing Scheme (VRLS), the following shall apply with effect from 28 Feb 2006:
“(“Where the Goods is a motor vehicle”) Notwithstanding any provision to the contrary in this Agreement, the Hirer agrees that the Land Transport Authority of Singapore (LTA) may, upon receipt of any request to register, transfer or de-register the Goods, seek clarification from the Hire Purchase, Finance and Leasing Association of Singapore (HPFLAS) regarding the financing status of such Goods. The Hirer also agrees that LTA may, upon the request of the Owner and the Owner's fulfilment of any requirements as may be stipulated by LTA, temporarily suspend (for such period as may be determined by LTA) or refuse any such transfer or de-registration of the Goods or transaction relating to the PARF/COE rebates in respect of the Goods. The Hirer acknowledges and agrees that this Clause shall be enforceable by LTA."
Car Financing Loan Settlement
Vehicle Loan Full Settlement - Cut-off Time
- For Receipt of Payment and for UOB to Dislodge the Finance Interest (Form B) with HPFLAS
Important Notes:
(a) “Business day” refers to Monday to Friday, from 9am to 2pm, excluding Saturday, Sunday and Public Holidays
(b) Payment made after business hours is considered made at 9am on the following business day
(c) It is important that you do not deposit cash/cheque at any UOB Group branch as the release of Form B will be delayed.
(d) The release of Form B is subject to clearance of third-party cheque
(e) Cut-off time is subject to change without notice
Schedule for Payment and Dislodgement of Finance Interest with HPFLAS
Payment at Retail Loan Operations Centre
Account Processing – Incoming Funds
Address:
United Overseas Bank Ltd - Retail Loan Operations Centre,
1, Tampines Central 1
#03-02 UOB Tampines Centre
Singapore 529539
Fax Number:
+65 6788 5930