Latest Car Loan Rate 2012-2021| 2021
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 Nov 20 2012, 03:33 PM
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#1
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Senior Member
8,377 posts Joined: Nov 2004 
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Hi guys, just now i went to one of the car showroom...
i surprised that the total car interest for RM68k car price and up to 60 months installment no even more than RM5k... i checked with my colleague that some of car loan is flexi type... no longer fixed interest... meaning the more we pay, the lesser interest to bear which same like house loan... anyone can clarify this? |
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Nov 20 2012, 03:39 PM
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#2
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8,377 posts Joined: Nov 2004
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QUOTE(Icehart @ Nov 20 2012, 03:35 PM) mind to share what car is that? i know toyota has a similar plan like this  Nissan Almera at HQ Petaling Jaya just now... it sound interesting and allow more poor ppl to afford better car... |
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Nov 20 2012, 03:43 PM
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#3
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8,377 posts Joined: Nov 2004
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QUOTE(Icehart @ Nov 20 2012, 03:41 PM) hmm 68k, 10% downpayment? interest rate? i can do some calculation and show u yes, 10% downpayment with standard car interest, i think around 2.6%-2.7% no doubt RM70k car fix interest can easily hit RM1500 per year... if 5 years should RM7500... but Nissan offer lesser than RM5k, i think even below RM4k as didnt see wrongly... This post has been edited by gkl83: Nov 20 2012, 03:44 PM |
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Nov 20 2012, 04:42 PM
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#4
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QUOTE(WKA1116 @ Nov 20 2012, 04:28 PM) Dear Sir/Madam, Please mind your words of 'Poor People' If you are rich please don't care about the interest rate and price..Please mind your words and care about people who buy these car. Thanks I no means buying Almera = poor people... What is means FLEXI car loan are affordable by poor people to own better car (Almera, Vios, City, etc rather Potong)... hence this topic is about "Car Loan" otherwise i should flame almera owner under "Almera" topic that they are poor people but wasn't here... If owning Almera is poor people, what the point i slap myself as i looking at Almera just now?  QUOTE(Icehart @ Nov 20 2012, 04:32 PM) 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?  later i will go another quick check again with Nissan SA again and get a photo snapshot too... Yup, they use iPad with car loan calculator apps as calculator... but i think it quite common nowsaday by using iPad, even the car show at Jalan Duta last week, a lot show girl carrying iPad... last sunday went to 1U, a car show girl pass me her iPad requested me to like their facebook page...  This post has been edited by gkl83: Nov 20 2012, 04:44 PM |
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Nov 20 2012, 04:54 PM
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#5
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QUOTE(WKA1116 @ Nov 20 2012, 04:47 PM) affordable sound nice.....BTW i advice don use so called flexi loan..yes entry repayment was cheaper but when come to year 5-9 you will feel heavy and when u wanna sell off your car u feel burden. this is my advice. thks that i have no idea, i will drop to nissan again for quick visit... anyway, as checked and double confirmed with my colleague... he recalled the SA's iPad calculator again... 9 years total interest RM7xxx; 5 years total interest RM3xxx anyway, the price is based on Almera, assumed is the low spec RM67k... This post has been edited by gkl83: Nov 20 2012, 04:54 PM |
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Nov 20 2012, 05:05 PM
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#6
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QUOTE(Icehart @ Nov 20 2012, 04:58 PM) 4 hours later only he come back and apologize, say is wrong calculation later will double confirm again see how they say... hence will show them my own calculation later...  |
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Nov 20 2012, 10:29 PM
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#7
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QUOTE(crocky @ Nov 20 2012, 08:57 PM) Some calculator apps r giving wrong figure just went back to the Nissan and met the SA again and another 2 SA... they admit that is their faults and provided the wrong figures... they are sales executive but dont know the apps made the mistakes even though i questioned the SA this evening abt total interest... |
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Dec 18 2012, 10:28 AM
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#8
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QUOTE(yvonne9003 @ Dec 17 2012, 09:12 PM) Hi, I'm a degree fresh graduate. I started work from July 2012. Now my basic salary is RM2300 + RM100 (fixed transport allowance). Is the nett salary include the fixed transport allowance? if YES, then my nett salary is around 2.1k. I'm planning to buy my first car, cost RM63500 and I'm planning to get RM60k loan. Now, my SA offer me RM3000 discount as promotion. How high the possibilities for me to get the loan approved? I prefer Maybank as I'm using Maybank cc for 1 month+. no commitment/debt/outstanding for my cc. should be based on salary pay slip's final "Nett Pay" / "Nett Salary" and banker look on it only... there also have some deduction from your fixed transport allowance... if Rm60k loan, 9 years @ 3% interests, about RM705 per month... u still get the loan as about 1/3 of ur current nett pay... |
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Dec 18 2012, 11:01 PM
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#9
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QUOTE(yvonne9003 @ Dec 18 2012, 08:41 PM) Thank you for your comment  I hope so too  Hope tomorrow can know the result.Btw, the bank required me to provide them 2 references (parents). May I know why? and will my loan application result being affected? i guess the banker will check ur family financial background whether have bad debt record thru the CTOS and CRISS system... example if a company going to deal with other company and registration required, usually they will check the company's directors financial background too whether have "clean" record to ensure safe to deal with... otherwise the company may suffering to collect the outstanding payment due to the directors decision to hold the payment... |
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Dec 20 2012, 11:27 PM
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#10
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Senior Member
8,377 posts Joined: Nov 2004
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QUOTE(huiqing88 @ Dec 20 2012, 11:18 PM) Hi all, would like to ask a question here. Plan to buy Preve, downpayment 20k, loan amount ~50k, 5-7 years Salary 3k Able to get around what % interest rate? different bank different rate... as market rate for proton about 2.75% now usually proton have higher interest rate compare to non-local car... |
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