QUOTE(Beth79 @ Mar 23 2012, 11:48 PM)
Got but only the high specs models. 60k and 70k. Am getting the 60k one 
how much is the % for second hand proton car?Latest Car Loan Rate 2012-2021| 2021
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 Mar 24 2012, 01:27 PM
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Senior Member
693 posts Joined: Aug 2008   
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Mar 27 2012, 12:10 PM
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Senior Member
4,440 posts Joined: Jan 2010 From: Kuala Lumpur
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QUOTE(Jim.tan @ Mar 16 2012, 07:01 PM) Depending on your loan amount and also tenure.. Usually around 80-100K loan is bout 2.5% I heard best rate in town is 2.42% by Affin and Public Bank for loan amount of approx 120K for 7 yrs. Any better offers currently? |
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Mar 27 2012, 12:18 PM
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Junior Member
133 posts Joined: Feb 2009
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QUOTE(cybermaster98 @ Mar 27 2012, 12:10 PM) I heard best rate in town is 2.42% by Affin and Public Bank for loan amount of approx 120K for 7 yrs. Any better offers currently? How about 9 years loan? |
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Mar 27 2012, 12:25 PM
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Junior Member
43 posts Joined: Mar 2012
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QUOTE(cybermaster98 @ Mar 27 2012, 12:10 PM) I heard best rate in town is 2.42% by Affin and Public Bank for loan amount of approx 120K for 7 yrs. Any better offers currently? rm1670 pmlooks good |
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Mar 30 2012, 02:32 PM
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Newbie
0 posts Joined: Feb 2010 
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QUOTE(princezs @ Mar 19 2012, 08:16 PM) i got special rate 2.32% pls pm me too..  |
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Mar 30 2012, 02:51 PM
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Junior Member
570 posts Joined: Mar 2008
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2.45 100k maybank
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Mar 31 2012, 12:21 PM
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Junior Member
374 posts Joined: Jan 2011 From: your mom's bedroom
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hey guys..i need to ask something..im very noob abt this interest rate thing
 my sis want to buy the new myvi..probably around next month..so i want to ask experts here what bank gives the lowest interest rate as for now..the loan would be for 7 yrs  * downpayment 15k - 20k This post has been edited by hercules3110: Mar 31 2012, 12:24 PM |
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Apr 2 2012, 04:35 PM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(doncityz @ Apr 2 2012, 04:16 PM) THAT IS HOUSE LOAN LAHH!! WTF!? I just showed the illustration of published rate of car loan is not the effective rate. Car loan interest is calculated straight away for the whole tenure. Say, u take 100K loan for 5 years and interest is 3% per year, then straight away your monthly can be summed as: Interest Calculation Per Year: 100K * 0.03 = RM3K. Interest total for 5 yr - 3 x5 = RM15K. So total you need to pay back to bank = 115K over a period of 5 years. So that makes your monthly repayment of RM1916.00 per month. Damn fail la u cherroy. Talk like terror lidat but calculate car loan also fail.  A 3 % car loan interest is not 3%. You are actually paying 5%, and 7% for your loan on after 4th year, only first year you are paying 3%. For the loan money of 100K, you paid 15K for the whole tenure. Equivalent to 3K per year. First year you apply loan you owe bank 100k, pay 3K, yes 3%. But on second year, you already paid off 20K, you only owe bank 80K (not 100K), you are still paying the same interest 3K per year, it is already not 3%. Who fail to see the real picture? This post has been edited by cherroy: Apr 2 2012, 04:40 PM |
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Apr 2 2012, 11:18 PM
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Junior Member
111 posts Joined: Jan 2006
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QUOTE(tony @ Mar 21 2012, 01:46 AM) Hope sifus here can help my friend. If i have 120K Cash... Invest it and get 240K in return...120K perhaps I can buy old DC5 or ver8.. He plan to buy a 120k car. Loan tenures might drag to longest possible as pay slip "figures" is on the medium side only. Which options save him more money on interest ? 1) 20K down payment, loan 100K, early settlement after 1 year. 2) 100K down payment, loan 20K, early settlement after 1 year. Please don't advise on keeping more money for investment etc as this 120K is extra cash in hand. And pay full in cash is a big no no too. But 240K i can buy Audi TT...  |
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Apr 2 2012, 11:34 PM
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Senior Member
1,135 posts Joined: Jan 2003 From: Seri Kembangan
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QUOTE(doncityz @ Apr 2 2012, 04:16 PM) THAT IS HOUSE LOAN LAHH!! WTF!? Cherroy is right, you are the one who doesn't understand house loan.Car loan interest is calculated straight away for the whole tenure. Say, u take 100K loan for 5 years and interest is 3% per year, then straight away your monthly can be summed as: Interest Calculation Per Year: 100K * 0.03 = RM3K. Interest total for 5 yr - 3 x5 = RM15K. So total you need to pay back to bank = 115K over a period of 5 years. So that makes your monthly repayment of RM1916.00 per month. Damn fail la u cherroy. Talk like terror lidat but calculate car loan also fail. House load installment pay off interest and and reduce principle so your interest each year is getting lesser and lesser! Hire purchase loan pay off interest but don't reduce your principle, your interest amount is fix throughout the loan period 3% car loan is actually higher than house load 3%. |
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Apr 3 2012, 08:50 AM
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Junior Member
195 posts Joined: May 2009
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how if one get RM35000@4.99% personal loan, buy a car that worth,monthly installment would be RM632X6 years.
wide range of used car at that budget. how you guys thinks? ok or ko.. |
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Apr 3 2012, 09:40 AM
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Senior Member
939 posts Joined: Jan 2003 From: Penang
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QUOTE(doncityz @ Apr 3 2012, 08:52 AM) I got 3 property loans la brader. Pls la. I know how housing loan works. Which makes you an even bigger What I am commenting was about the car loan explained by cherroy. It is NOT worked up by the annual interest like a house loan. You don't deduct the balance and re apply the interest % again. Senang lidis la.. you go plug in my values up there in ANY CAR LOAN CALCULATOR TOOL IN INTERNET. You will see my calculation is right and each month repay is 1916.66. That is because interest is applied for the initial loan amount and divided throughout the tenure.  Cherroy is NOT trying to explain how car loan works. He's showing the effective interest rate the car loan has. Why effective interest rate? Because you want to compare apple to apple, and effective interest rate is how housing loan, saving account, FD, and many others are calculated. |
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Apr 3 2012, 10:04 AM
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Senior Member
4,440 posts Joined: Jan 2010 From: Kuala Lumpur
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QUOTE(cybermaster98 @ Mar 27 2012, 12:10 PM) I heard best rate in town is 2.42% by Affin and Public Bank for loan amount of approx 120K for 7 yrs. Any better offers currently? Is it true that some banks offering 2.38% for 7 year loans above RM 120K? Can anybody confirm? If so, which bank? |
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Apr 3 2012, 11:04 AM
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Elite
7,826 posts Joined: Jan 2003 
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QUOTE(cybermaster98 @ Apr 3 2012, 10:04 AM) Is it true that some banks offering 2.38% for 7 year loans above RM 120K? Can anybody confirm? If so, which bank? I know when BMW credit was calculating my loan, the sales guy called Affin, Ambank and Maybank to check the bank's interest rate. All of them gave 2.4% for a 7 years loan. |
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Apr 3 2012, 11:34 AM
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(doncityz @ Apr 3 2012, 08:52 AM) What I am commenting was about the car loan explained by cherroy. I am explaining how to find out or to see the effective or real car loan interest is. It is NOT worked up by the annual interest like a house loan. You don't deduct the balance and re apply the interest % again. Senang lidis la.. you go plug in my values up there in ANY CAR LOAN CALCULATOR TOOL IN INTERNET. You will see my calculation is right and each month repay is 1916.66. That is because interest is applied for the initial loan amount and divided throughout the tenure. I am not telling how to calculate how much monthly repayment is. Seem like someone don't understand, what being highlighted. This post has been edited by cherroy: Apr 3 2012, 11:34 AM |
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Apr 3 2012, 02:19 PM
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Junior Member
470 posts Joined: Aug 2006
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QUOTE(cherroy @ Apr 3 2012, 11:34 AM) I am explaining how to find out or to see the effective or real car loan interest is. I understood what you were trying to convey right away. Maybe doncityz needs to read your post properly.I am not telling how to calculate how much monthly repayment is. Seem like someone don't understand, what being highlighted. Added on April 3, 2012, 4:48 pm QUOTE(cherroy @ Feb 19 2012, 10:33 PM) Wrong. Say, I have 30k savings in total. And I wanna buy a car that costs 42k.Unless your investment can yield your more than 5-6%, you are going to lose against the car loan interest. And to achieve more than 5-6% in current investment environment is not easy task. Most importantly, most people cannot even save enough, more money in hand, spend it, rather than using it for investment. Forget about put the money in FD or saving, you are going to lose against your car loan interest. Don't not think that car loan 2.xx% is your effective interest rate. You are not paying 2.xx% interest, even your saving give you 3.5%, you still lose against it. Should I pay 50% downpayment which works out to 21k, and then take the rest in loan? Or should I just take as much loan as the bank can offer, i.e. 85-90% so I can minimize downpayment and keep the rest of the money in investment (conservative invested here, mostly in bond funds which yields 5-8% returns)? This post has been edited by Aurora Boreali: Apr 3 2012, 04:48 PM |
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Apr 8 2012, 11:20 AM
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Senior Member
2,549 posts Joined: Dec 2004 From: Sungai Petani, Kedah
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My friend get 3.25% for his 9 year loan 6.0k. Exora Bold. Is it normal?
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Apr 8 2012, 12:11 PM
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Senior Member
1,224 posts Joined: Nov 2009 From: Kuching + KL
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QUOTE(mynewuser @ Apr 8 2012, 11:20 AM) My friend get 3.25% for his 9 year loan 6.0k. Exora Bold. Is it normal? its on the high side |
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Apr 8 2012, 12:53 PM
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Junior Member
77 posts Joined: Jan 2008
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Thats high, I got 3.2 for 2nd hand Peugeot 308
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Apr 8 2012, 02:07 PM
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Junior Member
44 posts Joined: Sep 2005
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which bank is easiest to get loan now eh?..so far application to public bank and hong leong not approved yet..about 1 week already..
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