Hi, I'm Chris. According to recent my customers keep asking on how to get car loan, personal with their current documents this and that. I decide to create this topic to discuss on how to actually apply car loan more efficiently before we approach to any dealership for application.

Why? Because too much application at 1 time will make a bad record in bank system for future loan application.

First thing first
Self Documentation Checking
~ Whether your current documents can apply loan?
~ Whether your current documents can apply what car?
~ Whether your current status able to apply loan?

*Details Needed to check :*
Basic Salary : ?
Net Income : ?
Total Commitment : ?

*Can I Apply loan if...*
1.) High Commitment : Yes
2.) Ctos problems : Yes but depends
3.) Ccris problems : Depends
4.) No guarantor : Yes
5.) Graduate (Diploma, Degree, Master Degree and etc.) : Yes
6.) Sole proprietorship : Yes
7.) Partnership : Yes
8.) Sdn Bhd : Yes
9.) Freelance : No

1. What type of commitment you have right now and at the same time if you have credit card, how much % of total usage it has been used.

2. Certain bank like Maybank they don't see p1, digi, maxis, welcome but however ctos car / motor loan will affect

3. For Car loan, Ccris as long as not car ccris, and ccris not more than 2, you may apply.

4. Bank Rakyat and certain bank you can apply if you don't have a guarantor but your wages are strong. Some terms and conditions may apply sometimes.

5. Yes. Bank Islam offer graduate scheme for student as long as you've received your offer letter from your company. Make sure ptptn paid every month.

6. SSM must more than 2 years and 6 months bank statements can apply. Subject to monthly turnover and what model you want to apply. Owner income = total money debit x 10-20% depending on bank policy.

7. Same also SSM must more than 2 years, monthly turnover are divided by number of partners. Owner income = (total money debit x 10-20% depending on bank policy) / number of partners

8. Form 9, form 24, form 42 ++ M&A , company resolution, director ic to proceed loan. Of course 6 months bank statement as well.

9. No, need to apply ssm, make good current accounts, declare income tax then can do loan.

*If right now I can't buy car, how do I buy car in future...*
1.) How to improve documentation?
If you're under ssm, please deposit as much as possible, no fail I meant NO FAIL to deposit money into your current account

2.) How to make proper documentation?
Have you declared income tax? Documents aren't strong is ok, provided your income tax declaration high and fixed deposits can help in your loan scoring

3.) How to calculate your income : commitment you can take?
Total net income x 33% = commitment figure for your car loan application.

New edited - Guidelines from bank
Maybank : requires EPF & SOCSO deduction for individual application.

Ambank : Minimum salary RM3,000

Bank Rakyat : No license can do, as long as you're working in Sdn bhd, salary above RM2k. Note must be confirmed staff more than 6 months.

Bank Islam : Love to use this, for GRADUATES. with your certificate and offer letter you can get a loan. Guess what, higher basic you have, higher loan you can get!


If you have any question can PM direct or discuss on here. Thanks everyone

Regards
Chris

This post has been edited by Masayoshi Kahiro: May 13 2017, 10:39 AM

my details
Basic Salary : 2500
Net Income : 2300
Total Commitment : insurance(200)+food(700)+transport(500)+rental(500)+ misc eg phone bill etc(100)

*Can I Apply loan if...*
1.) High Commitment : Yes
2.) Ctos problems : Yes but depends
3.) Ccris problems : Depends
4.) No guarantor : Yes
5.) Graduate (Diploma, Degree, Master Degree and etc.) : Yes
6.) Sole proprietorship : Yes
7.) Partnership : Yes
8.) Sdn Bhd : Yes

Basic Salary : 2500
Net Income : 2300
Total Commitment : insurance(200)+food(700)+transport(500)+rental(500)+ misc eg phone bill etc(100)

Transport is it loan or transportation fees ? Others are not counted as your commitment for bank.

Transport referring to LRT,MRT,KTM,Monorail fee

Why not get a small new car or a second hand car. Monthly 300 + fuel 200 will be same as your transport fees

In the end you owned a car.

This post has been edited by Masayoshi Kahiro: May 3 2017, 03:10 PM

I doubt I'm upgrading my 2005 myvi in the near future, but would like to ask, my SSM is half a year old, current account is consistent but unsure if the amount is sufficient to get approved for a loan, would attaching the bank statement of my personal account help boost my chances?

Normally bank don't see freelance now. Best suggestion if you have done your income tax declaration last month. Then it will help you a lot.

Ssm half year can't do loan, unless your amount of turnover is big average per month.

Maybe you can pm me your monthly turnover I see what can my banker advice for you.

Guidelines from bank
Maybank : requires EPF & SOCSO deduction for individual application.

Ambank : Minimum salary RM3,000

Bank Rakyat : No license can do, as long as you're working in Sdn bhd, salary above RM2k. Note must be confirmed staff more than 6 months.

Bank Islam : Love to use this, for GRADUATES. with your certificate and offer letter you can get a loan. Guess what, higher basic you have, higher loan you can get!

Dear Chris, You keep running away again and again with new names.

SCAMMER - CHRIS SEOW ->

https://forum.lowyat.net/index.php?showtopi...&#entry85138800

i also waiting for my money from CHRIS SEOW ..
RM1,000
call him.. he block my number
whatsapp him...not reply ..

uols ..be very very very careful when deal wit tis guy