Press release -
WhyMoolah introduces a Car Lifecard that lets Singaporeans buy a car, without the exorbitant COE costs!
Singapore, 25 February 2014: WhyMoolah, Singapore's first real-life simulation App for young adults, announces the release of their highly anticipated Car Lifecard, which gives users the option to purchase a car and explore the choices and associated costs of owning their own vehicle.
Users can choose from a cross section of 4 different types of cars (Toyota, Volkswagon, BMW or Ferrari). Pricing for each car is visible, so users can select according to their income and preferences, then choose the percentage amount they want to borrow) and the term of their loan (up to 5 years). WhyMoolah then calculates the initial down payment, total loan amount and your monthly instalments, and, based on your previously specified information, estimates your savings per month.
As purchasing a car in Singapore can be an expensive exercise, WhyMoolah gives users the unique opportunity to “try before you buy” – allowing them to calculate the costs and visibly see the impact their purchase will have on their savings, future spending power and budget. The App provides a powerful demonstration of how current lifestyle decisions play out in the future, without the technical jargon and complicated calculators.
WhyMoolah, backed by DBS Remix, is offering currently some great incentives via DBS’s Real Rewards. Complete and submit the Real Rewards form by 28 February 2014 and stand a chance to win a 3-day Mazda 3 Driveaway. Already decided on a car? The first 20 users who apply for a DBS Car Financing Package (“Auto Loan”) successfully by 31 March 2014 will receive a 0.1% p.a. off the prevailing DBS Car Financing Package interest rate!
The WhyMoolah app is free for download on the Apple App Store and Google Play. There is also a community page on Facebook (www.facebook.com/whymoolah).
About PlayMoolah & WhyMoolah
PlayMoolah is an innovation company based out of Singapore and San Francisco that designs authentic experiences for children and young adults to learn about and how to responsibly handle money. PlayMoolah designs game mechanics to inspire real-world action, giving users the knowledge, skills, and tools needed for financial literacy. PlayMoolah is on a mission to empower the next generation to realize how money can help achieve their goals and create value in the world.
PlayMoolah’s latest App, WhyMoolah, is Singapore's first real-life simulation for young adults. An entertaining mobile app that helps users confront the small and big life decisions in a way that makes money simple to understand. WhyMoolah takes users through the possible life stages from graduation to retirement - where they are confronted by college loans, managing a salary, credit card applications, CPF, tax, buying an HDB, a car and more.
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