Thanks for the great info bro!

Was planning to get a 2.0 2006 2nd hand Civic @ 9 years loan, but come to see the interest can reach up to 4.85% P.A (near 5%!!), i was really turned down.

better wait for the new gen civic in 2011 lah like this..~ haih

It might be because the full loan amt i presume. furthermore when banks quote loan interest, they take consideration a lot of risk factors, like for your friend here, the fact that she opted for full loan and also that she just started working (no proof of solid income?).

She might go and ask around other banks herself for the loan, but in the end she still has to have/find a guarantor as she only has 2 months payslip now and end up having her brother be the guarantor, which defeats the purpose.

Sometimes these 'graduate schemes' are just tactics by the banks to provide easy approval loan to people, but at a cost of higher interest rates.

Just my 2 cents. cheers~

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Added on September 21, 2010, 2:08 pmA little bit off-topic here, sorry mods~!

I presume, Japan market will get the new civic end 2010/ early 2011 as the current 8th gen Civic has been put in the 'archives' folder on the Honda Japan website, signaling a new model coming soon. Expect the new gen civic to be on our shores 5-6mths after the japan launch, just like the previous Jazz.

This post has been edited by Fasap: Sep 21 2010, 02:08 PM

if she already has 6 mths payslip than she could try to apply on her own w/o guarantor. It all depends on the discretion of the bank in the end. No harm trying a as long as she has not signed any agreements with her previous loan app.

But regarding the Full Loan amt, i have not came across new car dealerships that provide full loan amt cause Bank Negara has a standing instruction that all new car purchases must be with a 10% d/payment (do correct me if im wrong). This also could be the reason for the higher rate of interest me thinks? Its quite impossible for banks to approve full loan amt for cars unless the bank and dealership kaw-tim on the issue. Exception for 2nd hand cars where the dealership can manipulate the market prices and you can get a 'full loan'.

This post has been edited by Fasap: Sep 21 2010, 02:33 PM

a 2006 Civic FD2 right? with proper docs, and background, i think ure best rate might be 4.2% @ 9 years the lowest. Ive been asking around myself also as was planning to get whether a 2006 FD2 @ 90K or a 2008 FD1 @ 90K..

This post has been edited by Fasap: Nov 10 2010, 01:59 PM

Just got loan approved. 90K loan for 2009 used 1.8 Civic FD1 @ 3.8% for 9yrs tenure from Public Bank, Bukit Tinggi Klang branch. Loan arrangement were all done by a used car dealer.

This post has been edited by Fasap: Jun 16 2011, 02:36 AM