Jul 2 2013, 10:44 AM
QUOTE(solsekuin44 @ Jun 24 2013, 04:29 PM)
Guys, my car hire purchase interest rate is 4.1% (yes, sangat tinggi).
I still have 6 yrs left to finish it, is it advisable to make full settlement by using a personal loan, where the rate is lower?
The answer is no. This is because your car loan settlement amount makes it not worth it. Most of the interest has been charged at the start of your loan. This is especially so if you plan to go into another personal loan.I still have 6 yrs left to finish it, is it advisable to make full settlement by using a personal loan, where the rate is lower?
You can read this short explanation here on whether to settle personal loan or car loan early.
Additionally, you can use this car and personal loan settlement calculator to know your car loan settlement amount.
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