The only way to "save" is when you do an early FULL Settlement.
Unlike Housing loan where the interest is on remaining principal, you cannot save by simply making advance payment for car loan as it is based on fixed rate.

get offer 2.63% and 2.66% for 7 years loan from two different banks. 2.66% is same bank with my monthly credited salary account. which one should i take? considering IBG now fast and can set recurring payments should not an issue right to apply different bank than our salary account?

they up interest recently? is this local car loan?

non national car. oh is it high? how much lower we can get?

IMO, the difference in the interest rate of 0.03% is very small and negligible. Perhaps convenience should be the priority .
Take for example if you take 80,000 loan for 9 years, the difference in the monthly installment amount is only abour RM2 per month. If you do payment thru IBG, you will need to pay RM2 for the fee anyway.

If got the cash to buy car, do dealers allow such 100% payment?

I assume banks will not allow early settlement up to certain cutoff months/years without charging penalty right?

This post has been edited by thingamagic: Oct 3 2015, 01:16 PM

but now the IBG is rm 0.11 per transfer. is it issue nowadays? and IBG also can be cleared almost within the same day

Non-local car.

RM120k loan

2.59% apparently all rate go up this month liao.

You can certainly buy car without taking a loan, there is no problem. However, you must highlight the matter to the outlet when placing the booking as it may affect the selling price.

Unlike housing loans, car loans are based on fixed interest rate. That means, if you take a loan of 5 years, but when you do the settlement in 2 years time, you will not get to save the remaining 3 years interest (on pro-rate basis). Instead the bank will probably give you a rebate of only 1 year or 1.5 year, to take into account of other charges (stamping fees, admin cost etc). Therefore, it is best if you take the shortest tenure/period possible, provided that you are comfortable with the monthly installment in the initial years.

Not just interest rate, seems like car price also went up. Perodua just announced of price raised for Axia..

i got affin bank quote me 2.5%.

my car price dint go up luckily, as locked in the price last month with my booking fee.

Hi all, anyone can recomend me which bank or banker should i engage for lowest interest rate ?
i am planing to loan around 110k (80%) for 9 years, honda
current affin bank offer me 2.6%, just wonder is there other bank can get lower ?

This post has been edited by FishnChipx: Oct 7 2015, 06:32 PM

very good imo.

i took loan 120k loan with affin 2.5% for continental car

very good imo.

i took loan 120k loan with affin 2.5% for continental car

guys , may i know what is the interest rates for proton car with 70k loAn

This post has been edited by alfred liew: Oct 11 2015, 01:44 AM

Hi All,

Anyone can assist on this, Honda City E-Spec.
Loan for 65k, 9 Year, which bank have lowest rate, and what rate?

i heard bank increase interest rates? is it true?

Last month I ask salesman it is 2.59. Yesterday I ask it is 2.69

when is this? october or september?

Hi, I am planning to get a second hand car soon. May I know what is the rate for second hand car now? Car Manufactured year 2013 to 2014. Loan amount RM70k to RM80k.