30 k loan, can expect how much interest rates charged by bank?
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Latest Car Loan Rate 2012-2021| 2021
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Oct 23 2015, 05:04 PM
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Senior Member
801 posts Joined: May 2010 |
30 k loan, can expect how much interest rates charged by bank?
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Nov 15 2016, 07:27 PM
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801 posts Joined: May 2010 |
Hi,
Recently, I get a loan from company to buy a second hand car now without any interest (interest free loan benefit). So, my company pay full lump sum to the my car seller and I will pay back company monthly (max 5 years) via my monthly salary deduction. If I happen to resign from my company, I need to get any banks refinancing for my outstanding loan, will it affect the loan interest rate the bank charged or difficult to secure the loan? Please enlighten. Thanks. |
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Nov 16 2016, 09:18 PM
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QUOTE(Buydirect @ Nov 16 2016, 12:55 PM) Normally, as far as bank is concerned, they will not finance a used car loan if the owner remain the same (re-financing). Technically, you need to "sell" the car to another owner, I.e probably your family member and only then, the bank will consider to grant him/her a loan. The car is registered under my name, not company name.As for the outstanding loan with your company, depending on the terms and conditions of the company loan, I suppose you will need to do full settlement using your own fund, before they can release the ownership claim. Is the car registered under your name or under the name of your company? Is the process still the same? |
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