That's great advise dear sifus, thanks!

hi sifus, would like to know , how do i get full loan for proton or perodua cars? planning on a 9 years installment.

I am wonder how we can know amount of monthly installment according to our salary. For example, I have RM1000 basic salary per month, how much per month can I afford to pay to the bank for car I purchased. And how about if the basic salary plus another allowance and overtime will total up to RM6000? TQ

i think it shud be like this,

your income for monthly installment divide by 3 and not exceed with 1/3 your income. bear in mind, fix allowance only can consider your gross salary. Overtime not included.

if your installment more than 2/3(or your commitment) you cant survive.

what do u mean I can't survive?

i mean, makan ,minum, cinema, hang out, feeding your family, saving, house and etc

so even I am a god of overtime and allowance also not considered la?

elmodistortion's advice is a general rule of thumb, and a good one as well. But if you think you can survive with even higher installment per month, go for it. Nobody's stopping you

The new BNM ruling says must not exceed 1/3 of your net salary, not gross.
But banks do allow some form of flexibility depending on your company, whether it's an MNC, your education qualification and of course your credit history.
Prepare to get a guarantor if you do not have credit history.

overtime is not consider your nett salary.

only fix allowance.

my salary 4k. im even make it overtime up to 7-8 k month. but still consider my installment fit to 900 ++ after deduct from Tax ,EPF ,socso and etc (nett)

may i know what is the rate for new ford ranger2012? which bank? Tx!

may I know how to try most of the banks? submitting hard copy documents to the banks or could I submit via email?
i don't have time and transportation to go each bank to submit the documents.
and should I submit guarantor's information as well before the bank asks?

I'm fresh graduate (graduated 2 months ago but I started working in Jan 2012)

which banks should try to apply?

Thanks all.

not asking you to go to each banks..
usually when you want to purchase a car from a car showroom, the sales fellow will introduce bankers for you depending on which bank you would prefer, from there, they will help handle for you, usually 3months payslip and photostat copy of your IC, etc etc is needed..

Rate from 2.4% onwards, depending on documentation and which bank you apply. Ask your SA, they are at the best capacity to advice regarding this issue.
I know RHB give 2.35%, but that is with really good documentation and good credit history lah.

Fresh graduate, eh can apply for graduate scheme if you're interested.
But give the docs to your SA and ask him/her to settle for you. I pass all my info to my SA and advice SA to apply which bank I prefer.

Hi guys, just now i went to one of the car showroom...
i surprised that the total car interest for RM68k car price and up to 60 months installment no even more than RM5k...

i checked with my colleague that some of car loan is flexi type... no longer fixed interest...
meaning the more we pay, the lesser interest to bear which same like house loan...

anyone can clarify this?

mind to share what car is that?
i know toyota has a similar plan like this

This post has been edited by Icehart: Nov 20 2012, 03:35 PM

Nissan Almera at HQ Petaling Jaya just now...
it sound interesting and allow more poor ppl to afford better car...

hmm 68k, 10% downpayment?
interest rate? i can do some calculation and show u

yes, 10% downpayment with standard car interest, i think around 2.6%-2.7%

no doubt RM70k car fix interest can easily hit RM1500 per year... if 5 years should RM7500...
but Nissan offer lesser than RM5k, i think even below RM4k as didnt see wrongly...

This post has been edited by gkl83: Nov 20 2012, 03:44 PM

Dear Sir/Madam,
Please mind your words of 'Poor People'
If you are rich please don't care about the interest rate and price..Please mind your words and care about people who buy these car.

Thanks