Hello LYN members,

I planned to buy a new car, which bank provide the best/lowest interested rate for car financing? My dream car interest rate as following:
Myvi - 3.5
Proton - 3.65 (heard some can get 3.6)
Naza bestari - 3.5

My friend advised to ask around each bank to get the lowest interest rate, I'm thinking the same too, but I would like to shorten the time searching for car financing, your comment would be much appreciated. Thank you.

try to ask for bank mualamat

how about eon bank? my mom's buy vios got loan from there...

CIMB or Public Bank if you ask me

i think most of the bank giving a fixed interest rate if u buy national/national company's car, the choice is on u. i guess eon bank may have offer slightly lower than other banks if u buy a proton. its better to choose ur prefered banker - where ur housing loan lies / ur salary crediting to save all the hustle in the future.

i think not, i had asked all the banks in Malaysia when i wanted to buy a new car. all these bank give the same rate no matter whether you buy a national car or foreign car so TS any bank will do, it is just the name that is different only other than that there is no much different

Public Bank for me. Very fast approval, etc. And good service too, very fast in responding for a request of a scan of my car grant sent to my email, etc.

This post has been edited by paultantk: Sep 26 2009, 02:39 PM

RHB is good for me..mybe good also for u..

Yea..youre right bro Public is the best!

Any comments about ambank?

Is the interest rate is fixed no matter how many RM downpayment we paid?

Thanks for the advice everyone, I'll ask around and limit to the bank as mentioned.

maxizanc, my cousin just bought a Vios on April this year, the interest rate is 2.38 for 7 years, 2.88 for 9 years. But now I not sure, I would like to know this too. Will ask my SA next week.

1st, identify which bank provide better convenience for u (for paying installment or to do paperwork about the car such as registration card matters).. then only u find based on their lowest interest rate

interest rate is already standardized according to bank negara rules.

all banks will have the same interest rate.

Yes interest rates is standardized now, at a very high amount unfortunately. However from what I know some banks will have offers especially towards the end of the year when they need to meet their sales targets. So don't buy now, wait a few more months...

what about bank islam?is it OK to take car loan from them?

(^__^)

New non-national car
5years 3.25%
7years 3.40%
9years 3.50%

New national & recon car
5years 3.50%
7years 3.65%
9years 3.75%

Well, how to know if a bank offer lower interested rate? Have to check with the bank from time to time? Is there any formal announcement from the bank? Thanks.

Use the bank which is easy for u. Easy to pay loan.
Interest rate basically same, unless u hv good record, maybe can nego a little.
Public Bank for me, Afternoon submit, few hours later got call from them. Fast!

This post has been edited by ahsam1212: Sep 29 2009, 04:40 PM

Your loan approval will be faster if you are the existing customer at the bank as it is easier to trace your transaction record