Moneylenders Act: Chapter 188 of Singapore laws - Primary legislation governing money lending activities and loan arrangements in Singapore
Banking Act: Chapter 19 of Singapore laws - Regulates banking institutions and their lending activities including car loans
Hire Purchase Act: Chapter 125 of Singapore laws - Governs hire purchase agreements, particularly relevant if the car loan is structured as a hire purchase arrangement
Consumer Protection (Fair Trading) Act: Chapter 52A of Singapore laws - Ensures fair trading practices and consumer protection in financial transactions including car loans
MAS Notice 645: Monetary Authority of Singapore regulation specifically governing motor vehicle loans and their restrictions
LTV Ratio Requirements: Maximum loan-to-value ratios: 70% for vehicles with OMV $20,000, 60% for vehicles with OMV > $20,000
Maximum Loan Tenure: 7 years maximum loan tenure for new cars, with shorter periods for used cars based on vehicle age
Contract Act: Chapter 53 of Singapore laws - Provides the fundamental principles of contract formation and enforcement
Unfair Contract Terms Act: Chapter 396 of Singapore laws - Regulates unfair terms in contracts and protects consumers from unreasonable contract provisions
mandatory Disclosure Requirements: Legal requirement to disclose effective interest rate, all fees and charges, and provide cooling-off period provisions
Documentation Requirements: Legal obligation to maintain proper identification, verification procedures, credit assessment documentation, and vehicle information
