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

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makky
post Oct 11 2010, 11:50 PM

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I got question to ask about used car loan, i am planing to get a honda accord year 1994 price at rm27000. Do i still can get loan for this car? or i can adjust the price to get the loan, maybe to rm30k . Or should i get a personal loan for cheaper interest? but my curent salary is 1.5k only X by 5 time is only can get personal loan for 7500 only.... please help me..thank. icon_question.gif

This post has been edited by makky: Oct 11 2010, 11:54 PM
makky
post Oct 12 2010, 09:47 PM

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QUOTE(who_care @ Oct 12 2010, 10:37 AM)
u ask for car loan or personal loan?
personal loan = max 5 time ur salary  (rm1.5k X 5 = rm7.5k).interest rates is high compare to car loan...
car loan = hard to get loan for 16 years old car...
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i am trying to get a car loan actually, maybe by CIMB. i got see at their website that 12 year and above car loan interest rate, so maybe i got a chance.. I hope so hmm.gif .... very love the look of the car and the engine inside lo...H22A JDM spec somemore..
makky
post Oct 14 2010, 11:43 PM

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QUOTE(koh_424 @ Oct 14 2010, 11:34 PM)
actually u still can try to get the car loan from the bank. but as far i know, the loan amount they will approve should b 60-70% of the car price. but the interest rate sure way higher then the other 2nd hand newer manufac car rate.
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The honda price at 26k after less...i afford rm650 monthly, with a down payment around rm8 k. but the problem is, the bank only approve loan not below rm20k after down payment...if i pay down payment rm 8k, the car is not entitled for the loan, but if i pay less ..that mean my interest will go up high for period of 4 year loan only. should i give kopi o to the car dealer to up the price in paper to ..erm maybe 32k ..and then take the 6 thousand extras as poket money ... rclxms.gif ..and negative rm1k to the dealer ... blink.gif

note . interest will be 9 to 10% ++

This post has been edited by makky: Oct 14 2010, 11:45 PM

 

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