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 Car loan interest Rate in 2010, what is the current rate??

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iostream
post Oct 19 2010, 10:02 AM

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QUOTE(xiong @ Oct 19 2010, 09:22 AM)
hello , i got my car, saga blm at 20yrs old w/o guarantor =)
When i was looking for my car, i told my SA to get a bank loan w/o needing a guarantor,
He helped me in applying loan at a few banks, one was at eon bank and the sec one was at public bank, my SA told me that public bank is kinda troublesome and a lot of documents need to sign and without doubts, he went to the 1st option, eon bank.
at first he said eon bank refused to approve my loan but after some talks,
eon bank eventually approved my loan, my tips for you is to pay as much down payment as you could afford , a 5k d/p will do
in convincing the bank to approve you loan.
*
mind to share your tenure duration and interest rate? brows.gif
ICDeadPeople
post Oct 19 2010, 10:34 AM

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For peugeot cars, kfh give 2.98% for 7 year loan. Didnt ask rate for 9 and 5.
servlet
post Oct 19 2010, 09:20 PM

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QUOTE(iostream @ Oct 19 2010, 07:58 AM)
4.25%? how much you plan to loan for? i tot the interest rate is 4.1% for 9 years? dun tell me it increased again... shocking.gif
*
I'm not bluffing you dude.. this is my story sad.gif

I went to perodua.. and see this cute salegirl brows.gif

chat a lil bit tongue.gif and then she show me myvi brochure.. (I planned to purchase Myvi SE RM53 400 with 10k downpayment)

if you take 9 years loan, interest rate will be = 4.25 % vmad.gif

7 years = 4.15 %
6 years = 4.15 %
5 years = 4.00 %
4 years = 4.00 %

So, the next day I walk to Public Bank and Maybank - they told me the same thing = 4.25 % - TAKE IT OR LEAVE IT!!

oh my... cry.gif

This post has been edited by servlet: Oct 19 2010, 09:21 PM
koh_424
post Oct 19 2010, 10:09 PM

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QUOTE(servlet @ Oct 19 2010, 01:20 PM)
I'm not bluffing you dude.. this is my story sad.gif

I went to perodua.. and see this cute salegirl   brows.gif

chat a lil bit  tongue.gif and then she show me myvi brochure.. (I planned to purchase Myvi SE RM53 400 with 10k downpayment)

if you take 9 years loan, interest rate will be = 4.25 %  vmad.gif

7 years = 4.15 %
6 years = 4.15 %
5 years = 4.00 %
4 years = 4.00 %

So, the next day I walk to Public Bank and Maybank - they told me the same thing = 4.25 % - TAKE IT OR LEAVE IT!!

oh my...   cry.gif
*
blush.gif now buying new local car interest also like paying 2nd car interest rate sweat.gif

This post has been edited by koh_424: Oct 19 2010, 10:09 PM
iostream
post Oct 19 2010, 10:19 PM

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QUOTE(servlet @ Oct 19 2010, 09:20 PM)
I'm not bluffing you dude.. this is my story sad.gif

I went to perodua.. and see this cute salegirl  brows.gif

chat a lil bit  tongue.gif and then she show me myvi brochure.. (I planned to purchase Myvi SE RM53 400 with 10k downpayment)

if you take 9 years loan, interest rate will be = 4.25 %  vmad.gif

7 years = 4.15 %
6 years = 4.15 %
5 years = 4.00 %
4 years = 4.00 %

So, the next day I walk to Public Bank and Maybank - they told me the same thing = 4.25 % - TAKE IT OR LEAVE IT!!

oh my...  cry.gif
*
sigh, i think they quietly increased the interest rates...
as posted in cimb website, cimb is offering car loan at the same rates too:
http://www.cimbbank.com.my/index.php?ch=cb...&tpt=cimb_bank#
chastise
post Oct 20 2010, 01:58 AM

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Not too sure about local cars, but i asked for Ford and Kia, hong leong is giving 3.0-3.1 for 7 years. Can give contact details to u if u want.
servlet
post Oct 20 2010, 11:02 PM

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QUOTE(chastise @ Oct 20 2010, 01:58 AM)
Not too sure about local cars, but i asked for Ford and Kia, hong leong is giving 3.0-3.1 for 7 years. Can give contact details to u if u want.
*
Public bank manager told me.. foreign car can get low interest rate - as you said..

national car.. 4% or 4.25% or GTFO!

who idea this to increase the national car rate??.. He/She maybe get brain f*ck.. mad.gif

deeplyheartbroken
post Oct 21 2010, 01:00 AM

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Idiotic national car policy. Force us all low-medium class to buy national cars but interest rates higher than normal.
frequency
post Oct 22 2010, 06:34 PM

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Just got my car loan interest for 2nd hand car

4.25% for 5 years... ..from public bank.

I heard that maybank offers better rate?
1337
post Oct 23 2010, 12:39 AM

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hmm my loan just approved 170k for 9 year with 3% monthly from maybank

is that good? blink.gif

for unreg alphard

btw is it possible to use the approved loan to car same car at other dealership?

This post has been edited by 1337: Oct 23 2010, 12:42 AM
yeexing
post Oct 24 2010, 02:23 AM

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QUOTE(servlet @ Oct 19 2010, 09:20 PM)
I'm not bluffing you dude.. this is my story sad.gif

I went to perodua.. and see this cute salegirl  brows.gif

chat a lil bit  tongue.gif and then she show me myvi brochure.. (I planned to purchase Myvi SE RM53 400 with 10k downpayment)

if you take 9 years loan, interest rate will be = 4.25 %  vmad.gif

7 years = 4.15 %
6 years = 4.15 %
5 years = 4.00 %
4 years = 4.00 %

So, the next day I walk to Public Bank and Maybank - they told me the same thing = 4.25 % - TAKE IT OR LEAVE IT!!

oh my...  cry.gif
*
erm... maybe you can try ask ask UMW , few month ago my colleague get his myvi loan from there... the rate is less a bit than other but i not sure how he get it one.
servlet
post Oct 24 2010, 04:33 AM

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QUOTE(yeexing @ Oct 24 2010, 02:23 AM)
erm... maybe you can try ask ask UMW , few month ago my colleague get his myvi loan from there... the rate is less a bit than other but i not sure how he get it one.
*
UMW offer auto loans?? I never knew it hmm.gif ..

This post has been edited by servlet: Oct 24 2010, 04:34 AM
edyek
post Oct 24 2010, 08:52 AM

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QUOTE(servlet @ Oct 19 2010, 09:20 PM)
So, the next day I walk to Public Bank and Maybank - they told me the same thing = 4.25 % - TAKE IT OR LEAVE IT!!
*
QUOTE(koh_424 @ Oct 19 2010, 10:09 PM)
blush.gif now buying new local car interest also like paying 2nd car interest rate  sweat.gif
*
Correct. Purchasing national car, you have to pay higher interest rate.

QUOTE(deeplyheartbroken @ Oct 21 2010, 01:00 AM)
Idiotic national car policy. Force us all low-medium class to buy national cars but interest rates higher than normal.
*
Don't vote for current government then. whistling.gif

QUOTE(frequency @ Oct 22 2010, 06:34 PM)
Just got my car loan interest for 2nd hand car

4.25% for 5 years... ..from public bank.

I heard that maybank offers better rate?
*
2nd hand car is almost the same rate. Maybank or not, most bank will try to regulate their interest together if possible.

QUOTE(1337 @ Oct 23 2010, 12:39 AM)
hmm my loan just approved 170k for 9 year with 3% monthly from maybank

is that good? blink.gif
*
That is cheap. Any loan approved since August, the interest rate is 3.9% for foreign car.

This post has been edited by edyek: Oct 24 2010, 08:52 AM
milenia98
post Oct 24 2010, 01:27 PM

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if buy national car, high interest but monthly pay is low than imported one.

stop saying change gov, the other party also sucks to the max. I hope Malaysian form a party that consists intelligent one such as phd holder, master holder. no tie to current gov or another politic parties.


edyek
post Oct 24 2010, 01:33 PM

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QUOTE(milenia98 @ Oct 24 2010, 01:27 PM)
if buy national car, high interest but monthly pay is low than imported one.

stop saying change gov, the other party also sucks to the max. I hope Malaysian form a party that consists intelligent one such as phd holder, master holder. no tie to current gov or another politic parties.
*
PHD or Master holder does not mean they are fit to run a government too. sweat.gif
elv2k
post Oct 24 2010, 01:42 PM

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QUOTE(1337 @ Oct 23 2010, 12:39 AM)
hmm my loan just approved 170k for 9 year with 3% monthly from maybank

is that good? blink.gif

for unreg alphard

btw is it possible to use the approved loan to car same car at other dealership?
*
I think best rate for 170k @ 9years is below 3.00% or more likely around 2.7X%.

Yes, you can. Talk to the bank officer and give them a simple letter to change dealer.


iostream
post Oct 24 2010, 02:50 PM

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QUOTE(milenia98 @ Oct 24 2010, 01:27 PM)
if buy national car, high interest but monthly pay is low than imported one.

stop saying change gov, the other party also sucks to the max. I hope Malaysian form a party that consists intelligent one such as phd holder, master holder. no tie to current gov or another politic parties.
*
the BN gov is pushing ppl to get master/phd degree, sooner or later, we will have a country of postgraduates, cheers~
futher more, do master and phd holders really know how to rule a country?
sorry, off topic... blush.gif
servlet
post Oct 25 2010, 03:54 AM

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I want to know.. now is good time to purchase a car ?? Or I need to wait a few months??
1337
post Oct 26 2010, 01:38 AM

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QUOTE(elv2k @ Oct 24 2010, 01:42 PM)
I think best rate for 170k @ 9years is below 3.00% or more likely around 2.7X%.

Yes, you can. Talk to the bank officer and give them a simple letter to change dealer.
*
thanks for the info thumbup.gif
iostream
post Oct 27 2010, 12:25 PM

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QUOTE(servlet @ Oct 25 2010, 03:54 AM)
I want to know.. now is good time to purchase a car ?? Or I need to wait a few months??
*
now is the end of 2010, after 2 months, your new car will be counted as 1 year old oredi...

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