Say I have 100K in hand and I want to buy a 120K car.

Scenerio 1
Interest rate = 3%
Down payment = 100K
Loan amount = 20k
Tenure = 5 years

Total interest pay to bank after 5 years = 3K


Scenerio 2
Interest rate = 3%
Down payment = 20k
Loan amount = 100k
Tenure = 5 years
Total amont of interest pay to bank after 5 years = 15K

Balance money put in FD = 100k - 20k = 80k
FD interest = 4% (compound)
Total interest in bank after 5 year = 17.3k


*********************************

Is my assumption correct? Does it make more sense to put min down payment for car? And put the extra money else where with more than 4% return?

Its not that the rates are different but many other car manufacturers actually 'absorb' some costs which enable banks to provide a lower rate for non Proton / Perodua makes.

which bank? mind pm me with details?

What's the best rate for Hyundai Sonata 7 years loan 90%? I know now they have the 1.88% interest but thats for certain makes right?

This post has been edited by cybermaster98: Aug 22 2012, 11:47 AM

my friend just get his sage flx

loan amount : 30k
interested rate: 3.1 %
bank: public bank 60month

bro, can share the link for the 4% FD? im interested in the FD but i cant find it

Bro that was few months ago promotion.

Not sure still available or not lor.

What do you mean by absorb? How does this absorb work?

I actually doubt if they do. Don't believe what the salesman at the dealers tell you.

Come on dude..

Hi guys.. sorry for off topic.. i got few questions from my cousin.. he is 21 years old.. working salary about 1200 to 1600 (because based on commission).. question is:
1) Can get Myvi 9 years loan with 5k D/P with monthly loan of around RM550?
2) Or Viva with 9 years loan with 5k D/P with monthly loan of around Rm480?
3) 21 years old still too young to get loan approve and must have guarrantor?
4) Mom dont have pay slip can be guarrantor?
5) If my cousin cant get loan approval, can his mom get 3rd car under her name since she already got 2 old cars under her name(all paid up loan)?
6) Lastly, got such thing as "buy car using mom's name but son pay" in bank's law? Its a direct translate from chinese, sorry about that..

This post has been edited by Aquariusdenz: Aug 24 2012, 12:31 AM

Exora prime 9yrs @ 2.82% maybank

Proton Preve 9 Yrs @ 2.7% Bank Muamalat - 18/8/2012

Second Hand 1 year old Toyota Prius - Loan 80k @ 3.25% (HLBANK) 7years

Hello,

Question... is there any base for interest rate in Malaysia.. something like BLR (Base Lending Rate) for Hire Purchase Loan... if there is, where to refer? or what is the percentage.

Thanks... nice topic btw... enjoy reading it... XD

With that salary, your cousin don't suffer after paying the car loan?

recently go survey around :
New car interest (proton) 2.7% - 2.9%
2ndhand - 3.5% - 3.9%

Walau, 9 yrs plus 3% loan... tis is killing, how pity us need to buy new car and pay for 9 yrs? wats normally a car value after 9 yrs? ==

Hi all, I need some help

I bought my 1st car in 2006. 4 years old Proton iswara. I took a 5 years loan. I've finished my loan last year. I dont plan to change to a new car but until recently, I realised that I've spent average 400/mth on fixing it. I've just spent rm650 last week. I'm tired of fixing it thus, I plan to buy a new car.

I'm not that type of person who change cars every 3-5 years. I'll be driving my car until it koyak after 10 years.

My question is, should I buy a used car or new car? I don't have to travel outstation for work, the most, I travel back and forth from kl - pj. I'm intrerested in nissan's almera (80k) which will be out soon or a used vios (rm50k). I would like to buy an international car rather than local cars. I don't want to spend too much on car loan as I'm planning to buy a house. Since there's pros and cons in taking 5 years or 9 years loan, so I decided to take 7 years. Not too long and yet not too short. If I buy a used car, I can have more money to spend buying a house.

Assuming that a car's life span is 10 years, by the time I finish my 7 years installments, the used car will be more than 10 years old (assuming that I buy a 4 year old used car) and right after my installments, I'll have to start a new installments for a new car cos the car will then be 11 years old. If I buy a new car now, after my 7 year installments, I still have 3 years of driving without paying any loan.

I can afford both cars just that I don't want to spend so much on depreciating cars and yet, I want the comfort of travelling to work. Err, hope u guys understand what I'm trying to refer here...

Btw, anyone knows the int rate for new Nissan and used vios for 7 years? I heard someone saying about Nissan has higher int rate. Is it true? If yes, why?

This post has been edited by hey_there: Sep 8 2012, 03:16 AM

bro,
i also used proton iswara, bought it new in 2002 and also took 5years loan, finished my loan in 2007
now i'm still using it have been clocked about 250k mileage
but i dun think i need to spend so much money for the car (fixing) as u did
i suggest u buy a new car,if u wanna peace of mind
for me i'm planning to get a new car and still doing research on wat car i can afford and best value for money
and it is bcos i need comfort not bcos my car give me headache or trouble

me..p2 alza..2.78%.rhb 9 years

My car was good all these while since early of the year. It broke down in the middle of the road and since then, I've been fixing it. I sent my car for service on time. I spent a bit more last week coz of tires la. changed 2 tires. But at the same time, the fan broke down. Now, it might have carburettor prob which is going to spend about rm500++ to fix it.