Singaporeans are hailing a new financial milestone as banks introduce car loans with repayment periods exceeding the average human lifespan.

With COE premiums reaching heights usually reserved for billionaire drug lords, the MAS has approved a "Legacy Debt" scheme for entry-level sedans.

"Steady lah, my loan interest more than my house, but at least can act big during New Year," said bankrupt local, Tan Ah Huat.

Citizens are reportedly queuing for hours to sign away their entire financial future for a vehicle that will be crushed into scrap in ten years.

"Don't care about retirement fund, most important is I got key fob to put on table during lunch," explained another satisfied debtor.

Economists suggest that the joy of a shiny German bonnet far outweighs the minor inconvenience of starving in the dark for eternity.