QUOTE(WhiteWing @ Mar 22 2011, 05:50 PM)
Normally the SC will skim first,if still happen again then only they chance. FYI,I change my disc rotor for more than 6 times alr

Added on March 22, 2011, 5:51 pmI can settle it in 5 years times instead of 9 years but I can see I so stupid ... bank taking the full money of RM 38k from me .... let me re re re consider it .. interest will take collect, loan money also collect ... think think ...
yeah its not like a property loan which whereby the interest is calculated on your balance ... this wan the interst calculate edy wan ...
what u do is if your repayment is 500 a month and u put in 750 a month, that means next month repayment u need to put in 250 only ... if every month also u pay 750, u only reduce the amount of repayment
like what zeng said, unless u settle in full - u are better off putting the money somewhere else ... and then do lump sum and settle in full
Added on March 23, 2011, 3:16 amQUOTE(ZenGTMM @ Mar 22 2011, 05:47 PM)
Normally in main SC they wont skim it.. They will replace it.. In authorised SC then they can choose to skim or replace it lah.. Thats what i know lah.. Might be wrong too.
Normally the bank wont entertain u if u want to shorten the length of the loan lah..
And if u were to dump in the lump sum also they will still include the interest together with a little discount only, and normally the discount given will be negated with the misc charges when u want to pay a lump sum..
Best way to save on interest is to open another savings account and save the excess money there, let it accrue interest first. When the amount balance there is enough to cover the remainder of the full loan then only u go to the bank and request for a full settlement. When u do a full settlement on the spot they can offer discount on the interest rate lah.. Last time i asked CIMB (my loan bank), they give me 55% discount for the interest rate.. So im paying 4.00% for my Persona, that means i only need to pay the capital + 1.8% interest for the remainder of the loan interest instead of 4.00%..
say u have paid 4 years of a total loan of 9 years ... and u settle on the end of 4th year ... the remaining 5 years of interest will be deducted lo ...
use this tool for early settlement ...
http://www.autoworld.com.my/v2/tools/loan_settlement.aspThis post has been edited by earl-ku: Mar 23 2011, 03:16 AM