assuming you can find a buyer....If u are in financial difficulty during this 'viral' period, its a good thing. U also win if u plant to sell your car as no need to waste 6 month installment. Sell it at the last month of the morotarium.
If u can serve your loan/financing as usual then its a terrible way to spend 6 month as
U still have to serve the 6 month, at an extended period of the overall tenure.
Every day different version coming out. Certain banks now announce no compound interest.....My question that nobody can answer. Is, will there be additional interest accrued? Unlike other loans, the interest for HP is already calculated upfront.
For housing loan I understand.
wish got hidden stash of money in shoe box....hahahaIf you are financial sound, continue paying. Those who are not so good off, also have to be careful as they might spend the money elsewhere then find it hard to continues installments later.......lol
continue for another 6 months. no higher payment or compound interest.Question, will the subsequent payments get higher due to reduced installment frequency, or the term period also gets extended hence just continue the same installment amount?
Then it's good, should just take it.continue for another 6 months. no higher payment or compound interest.
If you want to continue paying, you need to contact your bank, fill in form and opt-out.
To me, 6 months extension is not too long. But during this critical 6 months no cash in hand will be a bigger problem. A big storm is coming ahead.
Still don't know what the company financial and cash flow situation. If you're on IT line you will see a higher demand on IT peripherals because everything will switch to online mode and WFH. If you're in tourism and hospitality then a big problem. Last month globally already seeing 70% dropped. Cruise company almost gone.
Yah, like airlines too.......continue for another 6 months. no higher payment or compound interest.
If you want to continue paying, you need to contact your bank, fill in form and opt-out.
To me, 6 months extension is not too long. But during this critical 6 months no cash in hand will be a bigger problem. A big storm is coming ahead.
Still don't know what the company financial and cash flow situation. If you're on IT line you will see a higher demand on IT peripherals because everything will switch to online mode and WFH. If you're in tourism and hospitality then a big problem. Last month globally already seeing 70% dropped. Cruise company almost gone.