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Car loans • Bad situation worsened by lucrative bank commissions
The Straits Times
|October 02, 2025
I refer to the letter "Review car loan rules to prevent financial woes and safety issues" (Sept 17).
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The car loan situation is exacerbated by the lucrative commissions offered by banks to car dealers. I was told that it can be as much as 5 per cent of the loan quantum.
It is no wonder that some car salesmen push hard for buyers to stretch the loan amounts.
This story is from the October 02, 2025 edition of The Straits Times.
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