Apr 27 2015, 11:14 AM
QUOTE(cklimm @ Apr 27 2015, 10:29 AM)
Ok, here's the situation:
I have RM 35k on hand, planning to buy an Axia, and informed that the car loan is only 2.9%p.a!
So does it feasible to apply for loan, and leave the cash in bank's FD to earn 4% a year, then pay the loan slowly?
Car load is fix rate by year. Your loan is for 5 years?I have RM 35k on hand, planning to buy an Axia, and informed that the car loan is only 2.9%p.a!
So does it feasible to apply for loan, and leave the cash in bank's FD to earn 4% a year, then pay the loan slowly?
Means 35000*0.029=1015 (interest per year)
For 5 years: 1015*5 = 5075
5075+35000=40075
40075/(12x5) = 667.92 per month
I think you can calculate which one is better
I just bought my Axia cash because I don't want to think about mandatory monthly payment. So, I have more flexible saving and spending each month
Quote
0.0461sec
1.11
9 queries
GZIP Disabled