From 6 April 2013, car buyers who are seeking motor vehicle loans in the form of hire purchases or conditional sale agreements from non-MAS regulated credit/leasing companies will be subjected to similar loan restrictions imposed by the Monetary Authority of Singapore (MAS). However, secondhand cars registered under the Land Transport Authority’s Temporary Transfer Scheme as of 4 March 2013 will be exempted from the financing restrictions, if the agreement to purchase such used cars is dated between 6 April and 4 June 2013 (both dates inclusive).

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