SG: Interest rates for car loans increased

The crew at Razor TV has shot a six-minute video, starring the stars of the movie Fast & Furious 6. The interview, hosted by Straits Times Life! journalist John Lui, shows the shock on the star’s faces when the prices of fairly cheap and ordinary cars were revealed to them. The actors Vin Diesel, Michelle Rodriguez, Gina Carano and Luke Evans, were shocked and stunned by the high car prices in Singapore. The clip is now one of the highest-viewed on online television site RazorTV, and is being rapidly shared around the world. You can watch the video here  

At 2pm this afternoon, an orange Lamborghini Murcielago met with an accident along Outram Road. Eye witness reports said the Lamborghini crashed into an eletrical box along the main road and burst into flames moments later.  Initial reports said that the driver escaped unhurt. Although the sight of the crashed exotic did attract much attention with many whipping out their camera phones to snap photos of the defeated exotic.

With ever increasing competition between the insurance companies, it is expected that the insurance premiums will dip or remain the same. So far, this prediction is holding true, as NTUC Income and AIG are keeping their current rates, while AXA has cut it by 4.5 percent. DirectAsia followed in AXA’s footsteps, but it only cuts its premiums by 3 percent. The reduction in insurance premium comes after measures that were put in place by the General Insurance Association of Singapore (GIA) to reduce the number of inflated claims over the past few years. Various frameworks that include the Motor Claims Framework, the pre-repair inspection requirement and the Non-injury Motor Accident (Nima) scheme, ensures that no claim is unjustly made. That said, claims due to physical injuries have steadily been increasing in the past 4 years, both in severity and frequency.