Sometimes, I do not understand why people absolutely despise the idea of a 9 year loan. You guys do realise that hire purchase interest rates are super low at around 2.5%? Close one eye and you can find ANY sort of investment out there that gives you a better return than 2.5% PA. Having cash in hand is always better than dumping it onto a depreciating item like a car.

Just do some simple calculation of a RM100,000 car. If you had cash to buy the car outright, and you do it, then you have already lost money.

Imagine RM100,000 in an FD @ promotional rate of 4% (there are plenty of promos around, just needs some searching.), placed for 9 years, compounded. If you subtract out what you have to pay in total for installments and 10% downpayment, you already make a nett profit of about RM20,000.

Again. Cash is always better in your hand or other assets rather than dumping it onto a car.

This obviously does not work if you change cars every 3 years or less because this mathematical calculation is assuming that you do keep your car for 9 years.

Seriously, think before you bash. Use the loan to work for you, not against you.