RM30k for 5 yrs @ 2.6% Ambank for Honda!

This post has been edited by ReVolVolution: Oct 11 2013, 06:04 PM

Preve 2.85 @ CIMB, 9 years.

I always wonder why national car int. % always higher than non national car. How P1 & P2 can sell more cars if the int. is not interesting enuff. might as well go for Japs or conti then ...

I get 3.45% for 2006 Merc.
9 years with 18% d/p.
Reason i stretch my tenure because my company pay me 3% back every year.

Who knows maybe they foresee a good future for me.

depends on your papers i guess.

maybe u r working in strong company.

Mazda 6? can share the agent info?

This post has been edited by chkhoo76: Oct 15 2013, 03:39 PM

actually how the bank calculate the approval rate?

Banks usually "profile" their debtors based on the type of car they are buying, and historically it's been proven that many NPLs (non performing loans) are for national type vehicles (P1 and P2 included), hence the higher rate. Also, add to the fact that for cars 60k and below, they don't earn that much anyway so even if the interest is higher, they make less while having to bear a higher risk.

When they 'interviewed' me during my loan applications, all of the banks asked me what car I own at the time. It seems they used to profile you based on your current car too?

they also ask me the same question, what car am i driving now.

Honda
Loan 155k =7 years
Pbbank 2.35%-2.4%
Ambank 2.25%-2.35%

This post has been edited by counterp2: Oct 17 2013, 10:29 AM

Thanks for the explanation. Now i understand.

heard from somewhere not sure how true, the interest rate for import and local car are actually the same, just the part of the interest for import car are bear by the dealers in order to improve the sales...

This post has been edited by frequency: Oct 17 2013, 05:07 PM

The nominal rate for non-national cars is what has been quoted in this thread, around the 2.3-2.6% mark. What you quoted is usually for those special cases when cars are advertised at 1.88% or lower, and yes, they are subsidised rates borne by the car companies, but no, the rates are definitely different between national and non-national makes.

how bout loan rate for used car currently ?

Got my new car loan approved by affin bank less than 4 hrs after give docs at 2.3% for 5 years just this week.

how much your loan amount? i got 2.38% from Affin

For new BMW, what is the lowest rate and from which bank ?

180k for audi A4. I could get more but only needed this amount. The longer the repayment period the higher the interest is.