Car loan interest rates in S'pore rise to average of 2.28% after US Fed's biggest rate hike in 22 years

In the past two years, car loan interest rates have generally not breached the 2 per cent mark. ST PHOTO: SYAMIL SAPARI
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SINGAPORE - Buyers of new cars are facing a double whammy - on top of higher premiums for certificates of entitlement (COE), they must now pay more for car loans.

Interest rates for car loans are echoing the recent move by the United States Federal Reserve to raise its federal funds rate by half a percentage point - the largest increase in 22 years.

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