http://www.thestar.com.my/Business/Busines...-for-car-hikes/

according to the report above :-

KUALA LUMPUR: Bank Negara Malaysia has not issued any directive to the banks to raise the hire purchase interest rate for cars.

"There is no directive from (us) to raise car financing rates," a Bank Negara official said on Tuesday, in response to a news report.

The official added that it was the individual banks which determined the borrowers' credit rating history and they also determined the appropriate interest rate.

means what? means its those banks anyhow increase rates?

yes.. meaning those banks saying BNM gave them the greenlight to increase the interest rates are bullshit

Oh well, things like this can only happen in malaysia, truly asia

I bought from Kepong Showroom. RHB Islamic Bank not RHB ya. Now they have raised the interest to 2.58%. Just sign last Monday, Saturday got my car adi. All the RHB Islamic is the same or try visit RHB Islamic at Bangi, they are helpful bankers.

I was recently offered and approved, 50k at 2.64 for 5 years. RHB

Well..remembered that bank is a business entity..
they aren't a charity..
with many non-performance hire purchase loan..
do you think they will just absorb the risk??

Got mine approved . 2.58 for 5 years . 110k maybank

Oh really? mind to pm total package u get from Kia Kepong?

mine approved, maybank 140k 7 years for 2.55

just wondering, what happens when u early repay ur loan?

i just got offer 9 years, 82k loan. 2.73%. maybank.

the loan officer said, lowest oso is 2.66%.

Wow! Ford fiesta last year stock for rm66k? Thats a steal man! Are you for real or is it after dp deducted?

This post has been edited by Rustaman69: May 7 2014, 04:03 PM

No la for sure after deduct D/P

But be impressed, nearly RM13k discount

@bebe2208,
I did… I was offered BLR-1.5% but somehow the calculation shows the effective rate is 2.66%

I'm now confused over what they're offering me cause I don't understand their calculations!

Dear bro,
Pls advise latest car loan rates. I recently submitted documents to buy Proton Saga SV for RM 36800. I told my Sales Advisor that i prefer repayment 5 years with RM 500 per month max. Downpayment i've no problem how much. Sales Advisor told me that now loan rates is high, around 3.3%. I don't believe them as my company buys BMW 7 series at 1.8%, jaguar at 1.8%, so i think SA is giving bullshit to me. First time buying car under my wife name, she's a housewife but have online business with 2 fashion boutiques. Her accounts are quite strong. Shouldn't we be getting somewhere around 2.6% loan rates for the car loan. Do u know where i can get lowest rates? Thanks

This post has been edited by shah2525: May 8 2014, 01:03 PM

True story.

I got 7 yrs 70K loan for a Honda at 2.68%, Maybank Islamic

national car bro

national car always higher, furthermore ur asking short loan i.e. 5 yrs
even if u shop around, it will still be >3%

why don't you ask the bank who give your company car loan??
i'm sure they will be happy if you take another loan from them...
and bank don't only judge by how much money do you have in your account...
they also judge by will you become their "reliable and profitable" customer in the future