Credit Bureau Singapore reports higher loan amounts and lesser fraud cases

The Credit Bureau of Singapore's analysis on car loans for new and used vehicles from 2003 to 2012 has reflected that motorists have signed up for new loans with an average principal amount of $90,401 last year - a 130.8 percent increase from $39,161 in 2003.

Yet, despite the heavier debt commitment, motor loan related crimes have fallen over the last decade. According to the bureau's study, only 2.7 percent of car loan applicants had an overdue instalment payment by more than 30 days last year - the lowest figure in 10 years.

The bureau's study only takes into account motor loans offered by member banks like DBS and Citibank.