Hi..i need help getting loan to buy car..de problem iz i nt sure what is de current car loan rate nw..
when i go to the proton car dealer center de sales guy said that all de interest car loan rate is fixed by bank negara..(3.75% for 9 years loan ,3.65% for 7 years loan and 3.5% for 5 years loan)
he also said that all interest rate is same for all national type cars ( brand new car)..
is he telling the truth? y some my friend can get lower interest rate??
can anybody give me some advice on getting the best loan car with lower interest rate?
Thanks...(sorry for my bad english)

i get my car loan last year for second hand car @3.75 for 5 years....
this year drop 0.25

both interest rates for national car n other car makers are totally not same..

No. He is not.

Back in 2005 when my mom bought her Proton Waja, we visited 4 different Proton dealers here. Most of the dealers offer us 3.7% for a 7-year loan. There was one offered us 3.2%. Luckily we visited one more dealer and they offered us 2.8% only from EON Bank.

It is advisable that you check out the interest rate yourself by visiting every banks. You should start with the bank you have an account with.


You should check out all the commercial banks in Malaysia. But please note that only local banks offer car loan. Foreign banks do not.

Look out for EON Bank and AmBank. Both are leaders in the hire purchase market.

thanks for the information as well i come here tumpang thread i also findding out the interest of buying a new car

thanks alot MilesAndMore for ur info..it seems that getting the best loan is the 1st priority..
but can we go direct to the bank to get the loan 1st and then go to car dealer 2 tell them we already get the loan approved by the bank?
Wad is the best procedure to ensure that we get the best deal?

Well, I'm not sure back in 2005. But if I'm not mistaken, currently the car loan for NEW National cars are fixed. Not sure the rate though, but I do hear forumers getting better loan rate. Even few bankers from different banks (all of them are doing loan) say it is not possible. So, I do actually believe the rate is fixed.

Miles, the EON bank loan can be used to buy any car?
It's not necessary to buy the national car with this loan right?
Sorry, I'm new in cars..

This post has been edited by solsekuin44: Jan 12 2010, 09:31 PM

Refinance car loans is the solution to get rid of the high interest rate, which the person might be paying on his current car loans. It is a means through which the borrower can shift from his high interest rate debts to low interest rate debts.

http://refinance-car-loans-2.blogspot.com/
http://refinance-car-loans-2.blogspot.com/

The interest rate for national cars loan is always higher than foreign cars. So if you intend to buy a Toyata or Honda, you should be able to get an even lower rate

Any reason why?

Is it bcos the depreciation value higher.
or the assumption that default will be lower for national car buyer?

Isn't car interest rate control by bank negara?

i guess national car have the most npl so dat makes it have a higher interest then other ...correct me if im wrong..

coz foreign car more expensive. even lower interest rate, the TOTAL profit that bank gets is higher . back in 2004, u can get 1.38% loan for BMW, but the actual interest amount your pay is

e.g. proton RM50,000. interest 3.5% = bank get RM1750 per year

bmw RM300,000. interet 1.38% = bank get RM4140 per year

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Added on January 13, 2010, 2:31 amsorry, u're wrong. correct answer is my post above

This post has been edited by saiga: Jan 13 2010, 02:36 AM

so which is a more better advice?
Should we go for local car or should we get foreign car?
foreign car = expensive= lower interest
local = cheap = high interest

just go for the medium like city or vious

This post has been edited by DarReNz: Jan 13 2010, 04:13 AM

HI,

I'm planning to buy a Honda Civic 1.8
What is the lowest car loan interest right now?

anyone know??

Just go for the car type you can afford. Higher interest is one thing. Less expensive car is another thing. Interest rate for national car might be higher but it is also cheaper. If one doesn't make a lot of money, it is advisable that he/she just settle for a national car.

currently using proton as this is my first car after graduate. REALLY REGRET. if u cannot afford brand new japanese car, second hand japanese car is way better than new proton . I actually want to buy used honda civic but my wife said give bad impression to her parent , so no choice but to buy new car.

after finished paying this car I will buy recond estima (hopefully la )

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Added on January 13, 2010, 9:08 pmagreed

This post has been edited by saiga: Jan 13 2010, 09:08 PM

Thanks Miles.. Am thinking of getting a manual transmission car.
Kena simpan duit, ai..