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

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Kelvin5717
post Apr 20 2010, 02:17 AM

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Can anyone advise me interest for car loan for a used Waja year 2004-2006???

planning d/p 10k
budget car go to 27k max
so loan 17k
afroad to pay max 550-600 per month

so what is the interest rate for Waja year 2004-2006 with 17k loan for either 3 or 5 years ?
please advise planning to buy car on latest by early june or earliest by mid may





Kelvin5717
post May 7 2010, 01:53 PM

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Hi sifu,


Planning to buy used car, currenly looking at a few model and need advise if it's possible for me to afford it..

What i have...

Down Payment available is Rm13k
Monthly can pay up to Rm500.00

1st Car
Nissan Sentra 1.6 (A) 2004
Rm49k - D/p Rm13k = Loan Rm36k
Is it possible to borrow loan for Rm36k for this car and if pay Rm500 per month how many years i need?

2nd Car
Honda Accord 2.0 VTEC 2000
Rm45k - D/p Rm13k = Rm32k
Is it possible to borrow loan for Rm32k for tis car and if pay Rm500 per month how many years i need?

3rd Car
Proton Waja 1.6 (A) 2001 - 2002
Rm23k - D/p Rm13k = Rm10k
If pay Rm500 per month how fast can i finish this loan? and does waja at this year still worth it to be brought? i heard many negative comments..


But also i haerd ppl say 1st & 2nd car hard to get more than 5 years loan cox the car old d...and Rm500 i dunno i can afford for those car or not so all SIFU pls advise me rclxub.gif rclxub.gif notworthy.gif notworthy.gif

Kelvin5717
post May 8 2010, 07:45 PM

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QUOTE(yewjin @ May 8 2010, 10:13 AM)
Lets say you take a loan of RM36K and lets say the interest is 4.1% - With a budget of RM500 repayments per month - You need to take a loan for 8 years. Anything less than 8 years, your monthly payments will exceed RM500.
*
could i increase monthly repayment to around Rm600 in order to get loan around 7years?

 

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