thanks for all the info and suggestions, zenix & chew

hi,

I would like to ask about selling/trade-in car

let say my car still have loan

if I plan to sell the car or go for trade-in, which value should I look into for settlement?

a. The outstanding balance
b. The Principal Balance

This will be give me an idea how much my car value if selling it.

The principal balance of your loan is the original amount you borrowed. It does not include interest.

Outstanding balance = Principal + Interest = what you need to settle with bank.

Car value is independent of either. It is determined by how much buyer is willing to pay. Which could be more or less than outstanding balance

go online to website like mudah, carlist, etc. to have an idea of your cars resale value.
there is a huge difference between brands.

e.g. you bought a top spec toyota vios vs chery omoda for 99k
both cars same loan amount and interest rate and tenure
however after 7 years your settlement value for toyota vios is 25k but resale value 40k, vs chery omoda settlement value is 25k but resale value only 20k
this is why malaysians generally target resale value when considering their new car purchase

what about actual selling price to dealer and resale value?

eg: used car dealer offer RM50k but on their website resale value ~RM60k, loan settlement is 55k.
technically i will be at loss right.

Have you tried bring your Ativa get quotation from Carsome or Carro (mytukar) ? They might give a better offer than other dealers who trying to make > 10K in your example.
Else can try and sell yourself eliminate the Middle man.

Outstanding loan > market value usually because take 7 or 9 year loan. That's why /K generally advice 1 year salary or max 5 year loan period.

yes in this case if you sell to the dealer will have to top up 5k out of pocket to settle the loan.

can try elsewhere for a quote.

selling the car yourself is also an option but a hassle, altho will be higher than what dealers offer, confirm.

other sifus pls let me know if im wrong, sometime ago banker friend told me banks no longer entertain walk-in ie individual car loan, they deal with dealers only. pls let me know if i was fed wrong info, or this is no longer the case

buying a car is already 99.99% sure a loss

Just sold my car to direct buyer. He got loan from PBB without going thru middle man or dealer.

used car dealer is still a business so whatever he buy from you he has to make sure it is sellable.
so they normally offer you 10k less than the selling price.
this is because they need to do some touch up of the car if it has issues, pay staff salary, then hassle money to get paperworks done on jpj/insurance/bank side.

you can sell the car yourself to try and get that 60k
but you will need to do the legwork to settle things for your customer.
also depending on your customer they might call you for every minor issue they have with the car until forever



bankers of course layan walk in they dun need to pay hassle money to 3rd party.
they will guide u and u just need to submit all the documents they need.

good to know, thanks!

from my experience best is CIMB or PBB

is there a better choice for runner car, sentra n16 ?
i got few k to spend only

1. Brand: classic toyota lc/prado, mitsubishi pajero or anything similar
2. Budget: Preferably Around/below 50k after/including restoration cost to good condition.
3. New/Used/Unreg: budget wise obviously used.
4. Specs: any
5. Transmission: prefer auto
6. NA or FI: Any
7. Type: 4x4
8. Remarks: it will be my weekend gateway car for my family and not my daily drive. prefer to buy complete restore old 4x4 or rebuild myself but at the moment not sure where to go to (kch sarawak). sifus need advise and recommendation which model suitable for me and whtr my budget is realistic.

Hi all, just wondering is it possible for car refinance now. I have one car, still under loan. Balance 20k. But im planing to purchase new car, is it possible for me to apply loan and bank mark up 20k for me to trade in my car, and purchase new car. Thanks everyone.

It's a new HP agreement of 40K to replace the current one balance 20K. Whether the bank willing to do this depends on the Market Value of your current car. Cuba tanya bank.

Alternatively leave the current car alone and get a new loan for the new car for wife. If she can drive manual and traffic jam not too bad, /ktards are suggesting Axia E manual 22K in the other post

This post has been edited by dogbert_chew: Aug 16 2024, 12:41 PM

Hi guys, I'm looking to get a used car.

Budget below 100k

- Prefer tall ride, e.g. SUV. Currently driving an X70 2022 1.8, CKD version. Power wise is good and comfort as well. Last time used to drive the old harrier too. So I'm too used to SUV now.

- Not too old car la, preferable still have at least 1-2 years of warranty left just in case.

Am currently looking to get a 2nd car, aside from X70, is there any other good options? Preferably C segment and above because rear multi-link suspension and longer wheel base feels more comfy especially in the highways.

I saw Subaru Forester Eyesight, Peugeot 3008 and Nissan X-Trial Hybrids are quite cheap, and only 3-4 years old car. But I do have concern on the reliability side. CX-5 on the other hand, seems a bit pricey due to it's high resell value.

I don't speed often so I managed to get around avg 1L:11km (real usage, direct calc from pumped litres to km travelled) with 1.8 X70, which to me is acceptable since SUV is heavy.

Any suggestions or recommendations are welcome!

Driving a 2 yr old Csegment SUV but looking for another used CSegment SUV 🤔

Still got 1-2 yr warranty means 3-4 yrs old for these SUV circa when new 150K? Yeah only those you listed above would < 100K cos the rest likely beyond yr budget like
CX-30, CX-5, CR-V, Tiguan, XC40

The only used CSeg SUV you might find with your criteria Corolla Cross 1.8G

This post has been edited by dogbert_chew: Aug 16 2024, 03:26 PM

Yeah cause the x70 I'll be giving it to my partner to drive hence looking for another car for myself 😅

What type of car your partner prefer?

100K budget maybe can get new BSegment leh?