Cheers, Bro.

10 years ago when I bought my car new. i worried about this question too. i took maybank who charge slightly higher interest than Kuwait Finance House.
then my fren ask me. "what you are worried about? you owe them money, not they owe you money. even if they close down, likely your loan would be sold to another bank/finance house"

74k 2.3% 9yrs PBB for City...... still acceptable rite

anyone know if buying a used car from another private seller, can we get car loan ourselves from the bank?

So far I asked around and only found Affin Bank can, but they require an "invoice" or "sales proof" from the seller which I sometimes doubt the seller will have it.

Any1 shed some lights please?

yes, you can walk into any major banks and get a hire-purchase loan to buy a car from a private individual seller. i'm sure PBB is quite keen in doing this as most of the used car dealers that i have been to always recommend using PBB.

the banks just need a document to support the application, like a sales form etc. a simple one page letter/agreement indicating the parties' name, purchase price and vehicle details will suffice.

2.24%, 9 yrs, 84.5k from Affin Bank Bhd for Proton X50 Executive variant.

Is this a good deal?

I got for the same loan amount/period/car, 2.32% from KFH and 2.33% from CIMB Bank.

This post has been edited by contestchris: Mar 20 2021, 02:13 AM

So, the offer i got from RHB at 2.26% still good for RM66,100*. Haven't finalize for downpayment yet.

I got loan from Hong Leong bank when buying second hand car from private seller (not second hand car dealer). Hong Leong bank has a invoice template that is ready and they passed to my seller to fill up and sign. I believe if buying from second hand car dealer, they will have the invoice instead of bank need to ask the seller to fill up.

I think bank also know we private buyer/seller dont have this of practice of issuing invoice, we just put deposit to book the car based on mutual trust.

80K, 7 years, PBB = 2.27%
80K, 7 years, Affin = 2.19%

Affin really trying to hit sales.

Is 2.22 interest rate from pbb for 144k low ah?

Tenure for 7 years for new mazda 3

this affin rate, is it fixed rate or variable rate?

Fixed bro.

that is quite low.. i know banks who offers 2.1X% rate usually is variable rate

what is the criteria to get this low?

High financing margin eg 120-150K, and tenure between 5-7 years, not shorter or longer tenure. Non national brands of course

Affin just quoted me 2.26%. not as low as yours, but still okay la

they said this low interest rate until end of April only. maybe they have a target to achieve or something

Sorry havent bought a car since 2008 (that time paid 2.4% i think), but never know got variable rate? What is variable rate?

Just reporting in.

50k @ 2.32% 7years under HLB

usually people go for fixed rate i.e your monthly installment remains the same for 3,5,7 or 9 years (loan duration)
variable rate follow base rate by BNM, if BNM raises the base rate, your monthly installment will also naik, if BNM reduce the base rate, your monthly installment will reduce too

I plan to take 35k loan for new proton persona.
Any bank can offer good rate for 5 years tenure ? Please shed some lights .. thanks !

Hey guys - checking in to see if this is high

RM41k loan (Perodua Myvi)

PBB
5 year 2.91%
7 year 3.01%

Thanks