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> Latest Car Loan Rate 2012...2016| 2017

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Buydirect
post Aug 20 2019, 01:51 PM

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QUOTE(myteam94 @ Aug 19 2019, 11:50 PM)
Hahaha..quite a shock right

but i think it was just a promotion for the carlist event

sweat.gif  sweat.gif
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Most likely heavily subsidized by the car company for bookings at that event only.
myteam94
post Aug 21 2019, 05:05 PM

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QUOTE(Buydirect @ Aug 20 2019, 01:51 PM)
Most likely heavily subsidized by the car company for bookings at that event only.
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Is there any banks that provide lower Interest rate? possible below 3.1%

by the way, if I apply thru bank that I have history with, do they able to process my application smoothly?

at the moment I'm stuck with PBB, they required guarantor (i tried not to use guarantor as my parent have other plan for their money)
it seem my salary after deduction, betul2 atas safeline sweat.gif

My plan to try with Maybank HP (main bank) or CIMB HP

if these bank also required guarantor, then I might wait till December where my EPF figure *nampak cantik*. sweat.gif

Let me know what do you think. thumbup.gif


mupanto
post Aug 21 2019, 06:07 PM

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QUOTE(myteam94 @ Aug 21 2019, 05:05 PM)
Is there any banks that provide lower Interest rate? possible below 3.1%

by the way, if I apply thru bank that I have history with, do they able to process my application smoothly?

at the moment I'm stuck with PBB, they required guarantor (i tried not to use guarantor as my parent have other plan for their money)
it seem my salary after deduction, betul2 atas safeline  sweat.gif

My plan to try with Maybank HP (main bank) or CIMB HP

if these bank also required guarantor, then I might wait till December where my EPF figure *nampak cantik*.  sweat.gif 

Let me know what do you think.  thumbup.gif
*
atas safeline means your commitment(included new car) over 60% of your net salary?
what happened to your EPF figure?

Rules of loan application is to submit to all bank in 1 shot. biggrin.gif
Stirmling P
post Aug 22 2019, 02:54 PM

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Hello, first time car buyer, need insights if these rates are good or too high.

Car: Saga Premium FL
Loan: 26k for 7 years

PBB: 3.21%
Cimb: 3.78%

Waiting for other banks also.

Thanks!
yhtan
post Aug 22 2019, 03:01 PM

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QUOTE(myteam94 @ Aug 21 2019, 05:05 PM)
Is there any banks that provide lower Interest rate? possible below 3.1%

by the way, if I apply thru bank that I have history with, do they able to process my application smoothly?

at the moment I'm stuck with PBB, they required guarantor (i tried not to use guarantor as my parent have other plan for their money)
it seem my salary after deduction, betul2 atas safeline  sweat.gif

My plan to try with Maybank HP (main bank) or CIMB HP

if these bank also required guarantor, then I might wait till December where my EPF figure *nampak cantik*.  sweat.gif 

Let me know what do you think.  thumbup.gif
*
U plan to buy Myvi 1.5? that 2.29% u mentioned before is really really low. I took also 2.92% @ 5 years for Myvi
myteam94
post Aug 27 2019, 11:56 AM

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QUOTE(mupanto @ Aug 21 2019, 06:07 PM)
atas safeline means your commitment(included new car) over 60% of your net salary?
what happened to your EPF figure?

Rules of loan application is to submit to all bank in 1 shot.  biggrin.gif
*
my epf figure macam fluctuate according to them

*because i have commission occasionally* so number kejap naik, kejap biasa

thats why... waiting at least nampak cantik sikit..


that time only PBB available,if got CIMB/Maybank maybe i can try at that event.
but i do plan for it.. next month i will be taking half-day to check with these 2 banks (as I have history with them)

This post has been edited by myteam94: Aug 27 2019, 11:58 AM
myteam94
post Aug 27 2019, 11:56 AM

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QUOTE(yhtan @ Aug 22 2019, 03:01 PM)
U plan to buy Myvi 1.5? that 2.29% u mentioned before is really really low. I took also 2.92% @ 5 years for Myvi
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it was an offer by them during those event only.

sweat.gif
Ginny88
post Aug 27 2019, 01:15 PM

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QUOTE(myteam94 @ Aug 27 2019, 11:56 AM)
my epf figure macam fluctuate according to them

*because i have commission occasionally* so number kejap naik, kejap biasa

thats why... waiting at least nampak cantik sikit..
that time only PBB available,if got CIMB/Maybank maybe i can try at that event.
but i do plan for it.. next month i will be taking half-day to check with these 2 banks (as I have history with them)
*
The bank is more concerned about your income fluctuating. By 'nampak cantik' you mean the amount of your EPF balance? This has no effect on the bank's decision as you are not able to access your EPF until you are 55.

By all means shop around and see if other banks require a guarantor. If no choice asking your parents to guarantee is not the end of the world. It will not affect them financially if you are able to fulfill your commitment.
myteam94
post Aug 27 2019, 01:20 PM

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QUOTE(Ginny88 @ Aug 27 2019, 01:15 PM)
The bank is more concerned about your income fluctuating. By 'nampak cantik' you mean the amount of your EPF balance? This has no effect on the bank's decision as you are not able to access your EPF until you are 55.

By all means shop around and see if other banks require a guarantor. If no choice asking your parents to guarantee is not the end of the world. It will not affect them financially if you are able to fulfill your commitment.
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yea, i know... not about balance.. as in the number can be justify with my commission.. when i first show my recent EPF (with commission)..they were like...hmmmmmm *garu kepala*..... sweat.gif sweat.gif


guarantor possible but i tried not to involve my parent much. But then again, if bank still insist for guarantor, then i might have to discuss with my parent.
Nicholas2189
post Sep 10 2019, 06:29 PM

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Guys, i plan to but a second hand car from a private seller but most banks I called said they only deal with dealers. Anyone knows how I can get a loan?

Many thanks
figuremeout
post Sep 10 2019, 07:05 PM

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QUOTE(Stirmling @ Aug 22 2019, 02:54 PM)
Hello, first time car buyer, need insights if these rates are good or too high.

Car: Saga Premium FL
Loan: 26k for 7 years

PBB: 3.21%
Cimb: 3.78%

Waiting for other banks also.

Thanks!
*
wah.... national car usually that high ka? mine last time at 3% proton persona 2013.
imported car at about 2.4 - 2.7% oh
ah_suknat
post Sep 11 2019, 01:20 AM

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QUOTE(Stirmling @ Aug 22 2019, 06:54 AM)
Hello, first time car buyer, need insights if these rates are good or too high.

Car: Saga Premium FL
Loan: 26k for 7 years

PBB: 3.21%
Cimb: 3.78%

Waiting for other banks also.

Thanks!
*
Wife buying saga fl premium as well, full loan@9years

Got offered 3.15%, BSN
fuelsave
post Sep 11 2019, 07:58 AM

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I just bought a recon vellfire without loan.

Kind of regretted my decision, is it possible to refinance the car now?
hong3831
post Sep 11 2019, 10:43 AM

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QUOTE(fuelsave @ Sep 11 2019, 07:58 AM)
I just bought a recon vellfire without loan.

Kind of regretted my decision, is it possible to refinance the car now?
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dont think you can refinance a car, better if you sell it and get a cheaper replacement. Since not in loan. Why regret?
ihillside P
post Sep 11 2019, 10:44 AM

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I also want to buy a car.
ChiaW3n
post Sep 12 2019, 12:15 PM

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QUOTE(Stirmling @ Aug 22 2019, 02:54 PM)
Hello, first time car buyer, need insights if these rates are good or too high.

Car: Saga Premium FL
Loan: 26k for 7 years

PBB: 3.21%
Cimb: 3.78%

Waiting for other banks also.

Thanks!
*
Same case, but my car is the new saga std variant.

HL offering 3.35%, 80% loan for 9 years.

Abit sienz when seeing this, can't get 90% loan.
Twins10
post Sep 13 2019, 02:21 AM

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Best way to buy car, pay 2/3 cash, 1/3 loan 5 years.
Buydirect
post Sep 13 2019, 03:01 PM

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QUOTE(fuelsave @ Sep 11 2019, 07:58 AM)
I just bought a recon vellfire without loan.

Kind of regretted my decision, is it possible to refinance the car now?
*
To do refinancing, you got to change ownership to someone else like your spouse or any close relative. Bank won't normally give car loan to the owner himself.
Buydirect
post Sep 13 2019, 03:05 PM

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QUOTE(Nicholas2189 @ Sep 10 2019, 06:29 PM)
Guys, i plan to but a second hand car from a private seller but most banks I called said they only deal with dealers. Anyone knows how I can get a loan?

Many thanks
*
Yes, what you said is true, because bank need proper documents like invoice/ delivery note to adhere to their SOP. Secondly, they prefer to deal with certified used car dealers under their panel, as there is some element of trust and track record to take into consideration in their business policy.

If the current car is still under financing, it might be possible if you apply to the same bank and branch of the seller. All the best.


 

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