Anyone here knows what is the rate for used car at the moment? I am looking forward to Altis 2008 - 2009 with 40k dp. Loan preferably 7 years.

Thank you for your input

RHB bank so far 2.35% for 9 years.

Latest I know used car rate depends on your documents and how long the loan period.
Average rate 3.4% - 3.5%.
If documents not strong, around 3.8% - 4% (perceived risk too high).

This post has been edited by Icehart: Oct 13 2012, 11:21 PM

Yes, ability to finance loan.
For new VW you got to ask the SA, sometimes got promotion 1.88%.
Normal new rate is 2.35 - 2.5%.

Hmm, i10 ok la
9 years loan probably 2.4-2.5%
7 years loan also possible

Try follow up with your SA.

Aih, why don't have this promotion for Toyota

Why suddenly discuss about financial management? There is a dedicated discussion thread at Finance and Business Forum. Keep at loan rate discussion la..

I know RHB lowest 2.35%.
Which bank offer 2.30%?

I tried ask my public bank officer. He say lowest is 2.4% currently.
What car you buying can get that rate?

Oh, maybe. I bought Hilux and the rate they give me best 2.35% RHB. But Public Bank 2.47%.

I think depends on your docs and credit history.
No harm trying all banks.

3 followed by 2 followed by 4 followed by 1. 1 is most likely rejected. 4 probably need a guarantor.

Not necessarily. My brother is 27 this year and needs a guarantor for his car loan.
Never own a credit card before, hence no credit history. Bank perceive as high risk.
Salary easily can pay for the instalment though.

If you're still studying then you have no choice but to get a guarantor, unless you have proof of income (salary slip, tax form). If you're self employed, bank statement for 6 months.
For 22k, what car is that? Bank will be reluctant to loan to car more than 10 years.

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.

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.

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

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

hmm indeed quite true with compounding interest, interest portion less than 5k
but u need to reconfirm with ur SA again if it is indeed compounded interest
for rate 2.6 - 2.7% most likely is flat rate unless bank want to lose against inflation,
compounding rate is usually blr - certain %

like toyota capital flexi is blr - 2%, which is 4.7% for certain toyota models
get a black and white from that nissan branch

oh yeah did they use ipad to project the interest calculation to you?