MBB 2.39% 110k 9 years X70

Only allow me min 3 years. But will consider early settlement.

It is quite standard for used cars...
If you want to get low interest rate, these are a few general guide
1) new car
2) foreign brand (meaning not proton not perodua)
3) stable and consistent income

Bank provide the rate by considering risk level.. higher risk higher rate
By buying used car, bank assume you are not affluent enough to buy new car.. means they think you are poor.. and your used car might not have much value when they lelong it if you default..
By buying national cars, especially those cheaper models, they assume you are lower income thus higher risk, they had also calculated the statistics that national car buyers are the group that default the most.. X70 might be different case as price is much higher
Unstable and inconsistent income generally regards as high risk..

Weird guidelines, but that's how they consider.. some might have exception, case by case basis

This post has been edited by twincharger07: May 16 2020, 06:17 PM

not a must...
for interest around 0.9~2% mostly provide by their self *BMW Merc Toyota & etc financial plan*
1.x%~2.x% by normal banker with new car
3.x%++ mostly used car d

i just study my friend case,
he loan with a basic salary of 1,200...
used car value 70k, cash payment 45k+
loan 30k but bank almost reject until he show Certificated FD statement with bank direct approve.
*not E-FD, those FD placement thru counter/banker up to 2years+ or locked with contract...
also banker does offer: Loan 30k for 5years but also you need place 40k~50k FD and locked with banker for 5years then you surely get the loan*
in case if you did not pay on time, banker own the right to burn your FD to repay HP.

This post has been edited by TyroneS: May 16 2020, 06:53 PM

At the end of the day, it is all about risk assessment..

Any maybank banker here?

i got offered 2.86% for new myvi for 7years. Is it high rate or not?

Pretty high. When I took in 2018, where the OPR is way higher, it was only 2.9 or so. I only took 25k for 5 years.

The other car I took in 2018 was City and that was about 2.5+%, 30k for 3 years.

any idea roughly how much the interest rate would be for a 67 y.o female, company director with no other loans (all finish pay) - to buy Proton X70?

The bigger question is will the bank accept the applicant who's 67 y.o. Probably can if she has assets with that particular bank (in premier banking value at least), else I think would be hard for her to take up any loan. I think banks generally have their loan cap at 70 y.o max. Might be wrong, need to check with the banker.

Got my used car at 2.7% for 53k loan, 7years from PB on March.

wow...did you apply the car loan yourslef or go thorugh any used car shop invoice?

Bro, the bank must've assessed you as low risk to offer you such rate..

PB just offered me 3.77% on used car for 28k loan, 7 years tenure.

Just got a car loan approved for:

RM 250k 7 years 2.16%

Is this considered a good rate?

Edit: New car

This post has been edited by hongjoo: Jun 10 2020, 02:37 PM

wahhh so low, My profile cantik, nice payment + additional extra 2.5k saving each month after all the commitment.

The bank still charge 3.55%

self applied?

I bought from the used car they help me apply the loan with public bank quite fast about 5 days i can take my car already.[Kia 2017yr]

kia cerato is it?

I got my used car loan at CIMB @ 80K 5 years 3.3% (back in Jan 2020)

Yes. Quite a nice car to drive