I got 4.2k rebate for 1.8 ,anyone can get higher?

Hi All,

I need some help regarding the buying process - a first time buyer here. A Honda Civic Navi.

1. Honda dealer arranged a Maybank car loan 70% without guarantor, which is great.
2. Maybank wants me to sign the "Delivery Note" also when I am signing the loan agreement. (But I don't want to)
3. Honda dealer has so far provided me a quotation (full price without 4K discount), but he wrote the discount amount BY HAND behind the quotation.
4. Honda dealer wants me to pay the downpayment via bank transfer after which he will give me a receipt.

1st question is, I should first get a letter from the dealer asking for the downpayment and also mentioning their bank details correct? Is this not normal?

2nd question is, I asked the Maybank loan officer where is it written that I can close the loan after 2 years and not have to pay any penalty. She says, I will get the full terms and conditions 20 days AFTER the loan is signed. What bullshit?

Would be grateful if someone can shed some light!

Cheers

I am not familiar with Hire Purchase but I used to be working in a bank, i will try yo answer your questions

1. I presume the SA asked you to pay to the authorized dealer of Honda? if yes, then it's fine actually. best is to issue a cheque (or get a bank draft) with the payee being the name of the authorized dealer (not SA). bear in mind the amount should be nett of the discount

2. your Maybank officer not professional... anyway, unless you are getting a variable rate Hire Purchase facility, otherwise all HP charge with flat rate, i.e. full interest for the whole loan duration will be charged UPFRONT. in other words, even if you pay off your loan faster (say, 2 years instead of 7 years loan tenure), you will loss in term of "term interest" that had already been embedded into the loan since day 1. of course bank will provide 'rebate' to you if you settle the loan earlier, but not the full amount. In any case, Maybank is not being unfair to you, this is industry practice. if you hope to save interest from paying off earlier, go for variable rate financing. if i recalled correctly, Alliance got, but bear in mind that the effective rate is higher than today's flat rate market (6% vs 4.xx%). of course you will save more PROVIDED you really pay off the loan much earlier. by the way, no worries about the terms and conditions, it is governed under Hire Purchase Act, just sign will do. it will only come after you if you defaulted in your loan payments

my 2 cents

This post has been edited by moonmoon1985: Jun 28 2013, 07:25 PM

hi all....I am getting 3.8k discount with free tint for civic 1.8.....is it alright?

which dealer bro?

Thanks so much for your detailed replies moon moon. It's appreciated!

Cheers

so you got your car? do share with us your driving experience.

btw, the FC of my CHC got stablished. the FC is now 15.6km/L, satisfied!

Is there any 1.8s owners change the headlamp to the 2.0 hid one ?

My 1.8S fc gets better as the mileage clocked. Now into 25,000km. FC getting 12.3-12.9km/l for city driving. Cheers to all.

Where do you go for servicing?

Honda dealer, bro.

any news for civic facelift?

this

Holy......

went to honda sc kajang today.. civic 1.8s discount rm 3k.. stok ready.. modulo bodykit around 2.8k (exclude front grill).. add rm2.9k for leather seat.. int maybank 2.45%...
monthly instllment rm 1175..
1. anybody get better offer than mine?.. pls share..
2. honda modulo bodykit got any diff with those aftermarket bodykit.. in term of quality? i believe honda modulo bodykit is more better quality.. that y it's more expensive compared to outside.. correct me if i'm wrong

How do you know if the Modulo bodykits they offered is the original Modulo kit?
IINM original Modulo kits is about 4-5k lol

But anyway, if you can find ABS or PP material kit it should be as good as the original kit. Not 100% but good enough that you can't really tell the different.

bodykit outside is less than 1.5k for module, leather is less than 2k.

ok tq for info..
really appreciate if anyone can recommend bodykit shop and leather seat shop that ofer similar quality as honda but at cheaper price..

Modulo around 1.1k you can get edi. Without the grille thou.

hi all....I am getting civic 2.0 with 2.5k discount and free trunk tray..... I can recommend the SA if u are interested...