100K
5 years
2.51%
Bank Rimau

Ambank

Ativa AV
55K
9 years
2.55%

Plan to bought a 2 years old Proton X50.
May I know, currently which bank offer better interest rates for secondhand car. I plan to loan 42k for 6 years. My sales agent tell me the rates is 3.9%. Is the rates high?

Not sure if can ask here.
Is it used car > 10 years unable to get loan (from Bank).
It depends on the year that it was previously registered i assume?

Oh wow, what car is this?

usually you can loan if the car is within 15 years old, say for example :-

You bought a new Myvi and loan 9 years but sold off after 6 years only, meaning that buyer of the myvi still can loan for another 9 years till the car 15 years old.

correct me if im wrong, any sifu here.

Sounds like from the day it got registered

yes betul. Car age within 15 years can loan. I heard some Japanese brand can extent another 2-3 years till 18 years. Correct me if i'm wrong.

Age of the car is based on the date of car manufacture not date of registration.

Common misconception among recon cars or even “cold” model local cars.

Say the car manufacture date is Dec 2010 and date of registration is in year 2015. Car up for sale in year 2023.

That means the loan eligible from most banks will be only 2 years and also most bank will not take up such short loan tenure.

Got it, means it depends on car manufactured date counting onwards + 15 years.
Ya i love old models like SUV < 100k, furthermore it's "cold" model like land rover...
so in short if I were to get an eligible loan let say 7 years for example,
means only option is to look for model manufactured 2015 onwards.

Well of course on top of bank, there are other "financial institution" might able to get a loan,
though high interest.

Yup that's how it is.

But do bear in mind that u would likely have problem selling the car at the end of the loan tenure since typical loan no longer applicable other than personal loan with high interest rate of course.

Was always under the assumption 10years age car is limit for loan application. Over 10 is exception cases?

Any ideas if recently change job baru 1 month. Chance to get approve from Hire Purchase loan possible?

Salary higher a bit only than previous job. CCRIS cantik. Existing car loan never miss.

I saw that some banks (e.g. Bank Islam) are offering green vehicle financing for hybrid or EV car. What are the rates you guys get and is there any hidden T&C?

After opr increase, do u know what is the rate for used car 100k

No hidden t&c. Got offer 2.13% from ambank for an EV for 3 years loan. Can even go below 2% if take longer loan

when did you get quoted for this? does ambank offers for Hybrid like HRV eHEV?

Very recently. Not sure if it applies to normal hybrid as well

Hi...,

First time buying car on my own
just asked SA to submit my application...
for now just got 1 offer

For a 100k+ new car, (loan around 75+k)
Got 0 pending loan or finances.
own small business (with personal cash flow 5-7k monthly (on paper))

Rimau offering 2.6%
Waiting for another 2-3 banks offer...
How to rate this? Normal? Low? High?

2.16 flex loan?


i got 2.15 flex loan from MBB, for 100k Isuzu DMax