Is everyone being forced to sign a new agreement with a higher interest rate?

Was not informed earlier but was only told to do it during car delivery.

Loan amount RM66,800, 9 years 2.29% with Maybank back in May.
And revised interest rate to 2.81% in this month

I've signed a loan for RM51,000 @ 2.45% from HLB in early Jul before the OPR increased.
I thought once the loan is sign the rate is lock in.
I wasn't informed that the rate would change when i signed the loan agreement.
If I knew, there wasn't a need for me to rush to sign the loan agreement.
Isn't that the case?

If the rate isn't lock in, then I would again need to seek out banks to compare the rates when the car is ready for delivery.

Interest rate changed while waiting for Car allocation    
Car: 2022 Honda HRV V
Loan amount: RM95k
Tenure: 7 years
Bank: Affin
Interest Rate: 2.53%

ah...crap. The loan officer didn't mention anything about it even I was talking about the possible of OPR increase in another few more days.
I was like rushing to get the loan agreement signed with the thought of locking in the interest rate.
In the 1 piece document that was pass to me after signing the agreement, there's no mentioning that the rate would be increase if OPR changes.

Thanks for the insight.

The one I signed is indeed many pages that I had to put down my initials, and a few pages with my signature.

What is ur new interest now? I asked my SA just now, rate from 2.22% (june) become est 2.5%.

Interest will increase again on sep due to inflation.

Guys I'm pretty sure if you actually signed the doc (with validity of 3 months from date of offer), the banks can't change the rate.

Unless:
1) You DID NOT sign the doc
2) It's been > 3 months from the date of the OFFER

Correct me if I am wrong please.

EDIT: Sorry I look back at my documents for my loan from Affin Bank. The validity is ONE MONTH from the date the offer letter is issued. I incorrectly stated it is 3 months above. 3 months is usually the time frame the loan to be auto extended, but the bank CAN change the terms if needed, including raising rates.

Question to ask u all. I just set up my new company last month. Under this new company i will be paid monthly as a salaried staff. I plan to buy new car end of the year or next year under my name. So will i get any difficulties in getting car loan? How long i have to wait before applying any car loan?

2.68%
9 years
Maybank
Toyota Vios

Rate was 2.3% previously in April, but loan got revised due to late delivery zzz

Ambank 2.32% 9 years 210k

Yup, yesterday itself.

In fact today another bank offered 2.01% for the same amount.

It's a PHEV

Does it applies to normal hybrids as well or only PHEV and EV?

Guys, wanted to ask about loan. If taking fixed rate loan let say 100k, interest 2.5% for 5 year. If 2years later i wan settle, i have to settle the total including interest for 5 years right?

ok thanks for the info. I think the rebate also not alot, depends on how early u settle also. If variable rate loan, is only pay remaining principal right?

Just wondering how you got so nice rate
Mine from Public Bank
2.77% 9 years
same amount

Could be many factors such as income, credit score etc.
I was told that AmBank and Affin have one of the best rates now.
You may want to attempt them.

OPR naik lagi...
should get flexi or fixed rate car loan?

kindly advise..

134k 7Years 2.25% AmBank

Anyone here got for variable loan? My understanding is the rate will base on OPR and will increase or decrease.

Im not sure if I pay advance it will actually reduce my interest or not like our house loan. Anyone here took variable loan?

Apart from BSN, Ambank and Maybank, which other banks take direct owner case to loan a used car ya?

RHB variable talking about 4.6%...

With fixed rate/HP.... if we pay off early, still got discount as well