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TSpython_king
post Apr 5 2007, 02:11 PM, updated 16y ago

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Hi,

Anyone know what is the interest rate for new (local) car?
Eg: Buy MyVi (49k) loan 44k and pay back in 9 years.
- what is the interest rate?
- which bank offering the best package at this moment?

By the way, i plan to buy the new car perodua.. brows.gif brows.gif
g00glesYYl
post Apr 5 2007, 02:17 PM

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3.88% for Citibank or may be Maybank
Kanewong
post Apr 5 2007, 02:27 PM

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if 3.88% then 44k(9years X 3.88% = 15364.80 + 44k = 59364.80 after then divide 108 month (9years)=549.67 per month for 9 years, correct me if wrong ^ ^"
karmakid
post Apr 5 2007, 02:32 PM

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go to perodua website and they have a loan calculator. easier. you'll know instantly how much is your repayment per month. just key in the details there.

and fyi, i think most of the bank also offering 3.88% at the moment for perodua.
DigitalTech
post Apr 5 2007, 02:35 PM

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QUOTE(Kanewong @ Apr 5 2007, 02:27 PM)
if 3.88% then 44k(9years X 3.88% = 15364.80 + 44k = 59364.80 after then divide 108 month (9years)=549.67 per month for 9 years, correct me if wrong ^ ^"
*
My friend, do you if you only put RM5k down payment, if anytime you want to sell your car, you will be forking quite a big sum of money?

Do you know once you start your car engine the first time, you already lose 20% of the value?

Don't just calculate whether you can afford to pay the mthly instalment. Calculate the depreciation and interest accumulated after 9 years. By the 9th year, you probably can buy 2 cars. trust me.

Hire purchase for cars are calculated flat. that means even after you paid half of the loan, they still count 3.38% of Rm44k. get it? The effective interest rate is 6.14%.

Please bear in mind that other cost you need to take into account, such as petrol, road tax, insurance, maintenance. Easily you need to allow RM500 mthly. So all in you have to prepare RM1k.

I'm not to discourage you to buy a car, but you need all these facts before deciding. Owning a car is fun and convenient. But ask ourself, can we postponed the purchase and save more money?
Kanewong
post Apr 5 2007, 02:43 PM

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hei man, i just follow the amount he want n calculate the rate for him, not my suggestion le = =" but as u said, i will not encourage too for buy a small with loan 9 years ^^"
DigitalTech
post Apr 5 2007, 02:57 PM

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QUOTE(Kanewong @ Apr 5 2007, 02:43 PM)
hei man, i just follow the amount he want n calculate the rate for him, not my suggestion le = =" but as u said, i will not encourage too for buy a small with loan 9 years ^^"
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Sorry man, i quote wrongly. my appology.

Kanewong
post Apr 5 2007, 03:19 PM

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is ok.......^^"

g00glesYYl
post Apr 5 2007, 03:28 PM

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9 month is a killer. U will be tie up for the coming two year.

Of course, if u buy car just to avoid tax then diff mention. U need to buy house, marry and so on. Dun waste too much money in car.
TZERNG
post Apr 5 2007, 03:39 PM

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python_king u got UGPM
kingmaker_20
post Apr 5 2007, 04:18 PM

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QUOTE(DigitalTech @ Apr 5 2007, 02:35 PM)
My friend, do you if you only put RM5k down payment, if anytime you want to sell your car, you will be forking quite a big sum of money?

Do you know once you start your car engine the first time, you already lose 20% of the value?

Don't just calculate whether you can afford to pay the mthly instalment. Calculate the depreciation and interest accumulated after 9 years. By the 9th year, you probably can buy 2 cars. trust me.

Hire purchase for cars are calculated flat. that means even after you paid half of the loan, they still count 3.38% of Rm44k. get it? The effective interest rate is 6.14%.

Please bear in mind that other cost you need to take into account, such as petrol, road tax, insurance, maintenance. Easily you need to allow RM500 mthly. So all in you have to prepare RM1k.

I'm not to discourage you to buy a car, but you need all these facts before deciding. Owning a car is fun and convenient. But ask ourself, can we postponed the purchase and save more money?
*
Wait for the 9th year to buy two cars?greedy?And how if you already kong before the 9th year?Just don't think too further,you must look what you have now,not what you can have later or the 9th year.
marky
post Apr 5 2007, 07:45 PM

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3.88 citibank is for 7 years only and u need to swipe 500 to 1k on your citibank credit card if im not wrong...

am bank and eon bank 4.2% for 9 years...lower % for lesser years
zeist
post Apr 5 2007, 08:31 PM

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Yea lor. 1 year of usage = RM5K gone. rclxub.gif
SUSDrifter
post Apr 5 2007, 09:29 PM

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4.3% for 9 yrs

4.1% for 7 yrs
jazzebelle_jazz
post Apr 6 2007, 12:50 AM

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dun take Ambank tongue.gif
ycfreak
post Apr 6 2007, 07:35 AM

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QUOTE(jazzebelle_jazz @ Apr 6 2007, 12:50 AM)
dun take Ambank tongue.gif
*
why? care to explain?
SUSMatrix
post Apr 6 2007, 09:12 AM

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QUOTE(DigitalTech @ Apr 5 2007, 02:35 PM)
My friend, do you if you only put RM5k down payment, if anytime you want to sell your car, you will be forking quite a big sum of money?

Do you know once you start your car engine the first time, you already lose 20% of the value?

Don't just calculate whether you can afford to pay the mthly instalment. Calculate the depreciation and interest accumulated after 9 years. By the 9th year, you probably can buy 2 cars. trust me.

Hire purchase for cars are calculated flat. that means even after you paid half of the loan, they still count 3.38% of Rm44k. get it? The effective interest rate is 6.14%.

Please bear in mind that other cost you need to take into account, such as petrol, road tax, insurance, maintenance. Easily you need to allow RM500 mthly. So all in you have to prepare RM1k.

I'm not to discourage you to buy a car, but you need all these facts before deciding. Owning a car is fun and convenient. But ask ourself, can we postponed the purchase and save more money?
*
Totally agreed with ya 100%. Last time i take stupid car loan for 7 years...regret like shit later.

Car loans is not like house loan. House loan take more is ok coz if u got money later, can make partial payment to reduce ur interest by very significant amount.
Car loan is flat...means if u settle early, you still have to pay the interest for the rest of the agreed loan tenure.

My advice to the young:

DO NOT TAKE A CAR LOAN > 3 YEARS. If you can't afford the monthly payment due to the short tenure, save up ur money so that u can put a bigger downpayment and make repayment in 3 years (4 max). You'll save a lot of money in the long run.

Imagine: if you loan 40K. 44K X 4.3%=1892. If u loan 9 years, ur interest would be RM17,028

If you say put in a bigger downpayment. Say RM15K, 29K * 4.1%=1189 * 3 years=Your interest is RM3,567 only.

That's saving of RM13K++, not to mention paying a car loan for 9 years is just so ridiculous...by 5 years time, you'll be cursing that u still have to pay the bank another 4 years when ur car value is less than half the ori value...

So work backwards on the max monthly repayment u can afford, and set a target to save the downpayment needed to achieve the target of 3 or 4 years loan.

You'll be so glad you did it a few years down the road.


Added on April 6, 2007, 9:20 am
QUOTE(kingmaker_20 @ Apr 5 2007, 04:18 PM)
Wait for the 9th year to buy two cars?greedy?And how if you already kong before the 9th year?Just don't think too further,you must look what you have now,not what you can have later or the 9th year.
*
People who don't plan ahead financially usually ends up broke. Cars is a liability not an asset. If u invest in properties, the price might goes up 10 years later, with cars, 10 years later, you are a proud owner of a piece of rusted metal. Only thinking of what you want know without planning for the future is a recipe for disaster.

With less commitment towards a car, your money can be put elsewhere in other investment to make it grows. Money dump into car will just vanish into thin air.

Unless you're very rich and can pay cash without a loan(and it shouldn't decrease ur saving account to ZERO), don't neven think of buying a fancy car!!! Just get the cheapest u can afford.

This post has been edited by Matrix: Apr 6 2007, 09:24 AM
TSpython_king
post Apr 6 2007, 10:03 AM

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huh?!
make 3 years car loan?
i dont think youngster out there able to do it, even they buy a kancil..
(exception case for those lucky youngster that their family financially support them for down payment)
how many years we need to save 20k or 30k for a person who income +- 2k a month...
i think everyone also know abt the interest, but we have no better choice, our father is not Lee Kah-Sing or uncle Lim

By the way, I totally agree with your point!
Especially, CAR is a LIABILITY, NOT an ASSET.

This post has been edited by python_king: Apr 6 2007, 10:04 AM
SUSMatrix
post Apr 6 2007, 10:32 AM

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QUOTE(python_king @ Apr 6 2007, 10:03 AM)
huh?!
make 3 years car loan?
i dont think youngster out there able to do it, even they buy a kancil..
(exception case for those lucky youngster that their family financially support them for down payment)
how many years we need to save 20k or 30k for a person who income +- 2k a month...
i think everyone also know abt the interest, but we have no better choice, our father is not Lee Kah-Sing or uncle Lim

By the way, I totally agree with your point!
Especially, CAR is a LIABILITY, NOT an ASSET.
*
If no money then hold on first lor. Save for 1 or 2 years to get the downpayment needed. My first car was only a 2nd hand car, and that's after a few years of working. If you just started work, then take bus/lrt for 2 or 3 years ler.

For people earning about 2K a month, it's not impossible to save RM400-RM500 if you have no other commitment. The keyword is frugal and discipline. In 3 years, you can muster up RM15K. Kancil is only RM30K. So get a Kancil ler. Loan 15K, 3 years easily kau-tim. Cannot meh? (Or just save for 2 years, loan 20K and pay back in 3 years).

There is always a choice, the question is whether you have control and willpower.

This post has been edited by Matrix: Apr 6 2007, 10:33 AM
TSpython_king
post Apr 6 2007, 01:59 PM

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how abt if i really need a car now ?
clsiluf
post Apr 6 2007, 02:30 PM

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QUOTE(python_king @ Apr 6 2007, 01:59 PM)
how abt if i really need a car now ?
*
7 years cannot?


TSpython_king
post Apr 6 2007, 03:11 PM

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QUOTE(clsiluf @ Apr 6 2007, 02:30 PM)
7 years cannot?
*
u mean loan for 7 year instead of 9-years loan?
i know the interest rate is lower, and less interest to pay. but i cant afford the installment every month. as u know, we have to reserve some $$ for petrol, toll and car maintenance as well
marky
post Apr 6 2007, 06:37 PM

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just get what you can afford...

7 years is extra 100+ a month

da problem is simple..if can get 5 years who wana get 9 years loan...

because you have no choice ! which is same as me hehe

This post has been edited by marky: Apr 6 2007, 06:39 PM
Dannyl
post Apr 6 2007, 07:00 PM

what the fucuk-yimai
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QUOTE(Matrix @ Apr 6 2007, 09:12 AM)
Car loans is not like house loan. House loan take more is ok coz if u got money later, can make partial payment to reduce ur interest by very significant amount.
Car loan is flat...means if u settle early, you still have to pay the interest for the rest of the agreed loan tenure.
*
If you settle the whole loan amount early, the bank may waive some interest and save you some money. I've seen this happen before.

A car is a liability, but if you look outside the financial point of view, it can be an asset as well. A more expensive car's intangible benefits like safety, space, comfort, ease of maintenance, etc, are all factors that can affect a buyer's choice smile.gif

This post has been edited by Dannyl: Apr 6 2007, 07:01 PM
Azuma-kun
post Apr 6 2007, 07:06 PM

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loan not > 3 years, but pay monthly 700-1k+ what u gonna eat?
some people really need the car so cannot wait for long time saving just because want to pay high d/p and 3 years loan.
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post Apr 6 2007, 07:10 PM

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QUOTE(Azuma-kun @ Apr 6 2007, 07:06 PM)
loan not > 3 years, but pay monthly 700-1k+ what u gonna eat?
some people really need the car so cannot wait for long time saving just because want to pay high d/p and 3 years loan.
*
this i agree. 5 - 7 years is reasonable.

just need some planning.

3 years you pay like silly, and the only way to survive it is to have huge down-payment.

for young people who really really really really really really really really need a car - get a 2nd hand kancil or something or heck, get Proton Tiara.

used unit is like what - RM 2 - 5k range. no matter how many parts you repair it's still cheaper than buying a new car.

EDITED : oh btw the problem with young people these days is that not only they have no planning, their car they want like Myvi and stuff, some more must 1st hand.

i mean really la. it's not about looks. car people don't see what you drive around in wan. fresh-grads, your purpose of a transportation is to bring you to work and bring you home. that's it.

This post has been edited by goldfries: Apr 6 2007, 07:11 PM
DigitalTech
post Apr 9 2007, 03:13 PM

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Let me ask you are this question:

What drives you? You drive your car or your car drives you?

If you struggle just to maintain a car, then the car is driving you and you will be working for the bank.

Don't be a labour for your car and bank. You work for yourself.
If you have this mindset, you will never be rich.

Struggle now and be patience. Your chance will come. But you need to take necessary step now.

Take a freaking 9 years loan. Feed petrol to car and pay salary to bank every month. To me, it seems like you are working for them.

You will enjoy the car maybe 1 year. Then your car deterioates in apperarence and performance, and you begining to get bored. What's next? you still have to pay another freaking 8 years instalment.

Don't want to pay? Too bad, if you sell the car now, you will have to fork out huge sum of money, because you put in a little downpayment. You will be STUCK! Don't know all these years you work for what? Ask yourself again. Be true to yourself now, before it's too late.
Tainted
post Apr 9 2007, 03:46 PM

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Tumpany thread.

What if I like to take a loan of RM35k and will try to repay say in 5 or 7 yrs time,how is the interest rate like and roughly how much do I need to pay every month for both 5 and 7 yrs?
DigitalTech
post Apr 9 2007, 04:31 PM

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QUOTE(Tainted @ Apr 9 2007, 03:46 PM)
Tumpany thread.

What if I like to take a loan of RM35k and will try to repay say in 5 or 7 yrs time,how is the interest rate like and roughly how much do I need to pay every month for both 5 and 7 yrs?
*
Scenario 1
Loan = Rm35k
Interest = 3%
Repayment = 5yrs (60 mths)

35,000x3%=1050 pa
35,000+(1050x5yrs) = 40,250 (principal+interest)

40,250/60mths= RM670.83 mthly.



Scenario 2
Loan = Rm35k
Interest = 3%
Repayment = 7yrs (84 mths)

35,000x3%=1050 pa
35,000+(1050x7yrs) = 42,350 (principal+interest)

42,350/84mths= RM504.16 mthly.


Tainted
post Apr 9 2007, 06:09 PM

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QUOTE(DigitalTech @ Apr 9 2007, 05:31 PM)
Scenario 1
Loan = Rm35k
Interest = 3%
Repayment = 5yrs (60 mths)

35,000x3%=1050 pa
35,000+(1050x5yrs) = 40,250 (principal+interest)

40,250/60mths= RM670.83 mthly.
Scenario 2
Loan = Rm35k
Interest = 3%
Repayment = 7yrs (84 mths)

35,000x3%=1050 pa
35,000+(1050x7yrs) = 42,350 (principal+interest)

42,350/84mths= RM504.16 mthly.
*
Thanks.
And which bank is this?

As I'm looking at loans from banks to buy a 2ndhand car.

electron
post Apr 9 2007, 09:17 PM

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actually, if you take a look at the current car loan interest rate and FD interest rate, it is wiser to take higher loan provided you CAN afford the monthly instalment AND the loan interest is lower than the FD interest (applicable to most non-national cars) AND make sure you put the money into the FD.

just for example, assuming the loan and FD interest rate is 3%, and for a loan on 1000 for 5 years, you pay 150 in loan interest but make 159 on FD interest.

if you have a house loan, putting the money into paying the house loan gives even more saving than putting in FD.

in addition, a lump sum in the bank and paying more instalment is easier to save up more money than paying higher downpayment and telling yourself to save money in order to save back the downpayment. cash in bank is "more saved" then cash on hand, the principle is something like forced saving.

but remember, make sure you can afford the downpayment.
Tainted
post Apr 9 2007, 09:32 PM

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Usually how much is downpayment for 2ndhand cars?
I always see "0" downpayment on papers.
ycfreak
post Apr 9 2007, 10:12 PM

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OK. Would like to know anyone has almost the same plan as mine. Loan 70k for a car that is registered in 2001. How many years can I loan and what are the rates. I would like to know before going to the bank. Thanks.
Azuma-kun
post Apr 9 2007, 10:55 PM

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can we believe the ads with '0 d/p, 100% loan, low interest, low installment'??

This post has been edited by Azuma-kun: Apr 9 2007, 10:55 PM
electron
post Apr 10 2007, 10:48 AM

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QUOTE(ycfreak @ Apr 9 2007, 10:12 PM)
OK. Would like to know anyone has almost the same plan as mine. Loan 70k for a car that is registered in 2001. How many years can I loan and what are the rates.  I would like to know before going to the bank. Thanks.
*
interest rates would be at least 4-5% for a car that age
vinnywwli
post Apr 10 2007, 11:35 AM

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just take ur downpayment to invest in market share first, 5k become 10k not a dreams ...10k can become 15k.............its can be true. Don't buy any car first. using this way to increase your cash flow first. Everyyear oso got new car launch, steady...
DigitalTech
post Apr 10 2007, 02:01 PM

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QUOTE(vinnywwli @ Apr 10 2007, 11:35 AM)
just take ur downpayment to invest in market share first, 5k become 10k not a dreams ...10k can become 15k.............its can be true. Don't buy any car first. using this way to increase your cash flow first. Everyyear oso got new car launch, steady...
*
I like the sound of it. Chah Ching!
gtghost
post Apr 10 2007, 02:29 PM

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What a gambler tongue.gif I paying 1.1k/mthly for a 36k car for 3 years and charge me 5K interest when I finish paying. Licensed Ah long i tell you! Bloodsuckers!! Pinjam 30 pay 5k in 3yrs WTF.....16.7% total amount loaned......

And thats 1/4 of my salary.....And I still find it expensive to buy a car >40k, how come those yunk punks so rich can buy myvi and civic, 7-9yrs loan la. Wang takda tapi mau gaya shakehead.gif

Actually, if you really really really need a car, 5k can buy those old toyotas or mazdas. Can't run fast but it stills brings you from point A to B hopefully without breaking down. sweat.gif

This post has been edited by gtghost: Apr 10 2007, 02:51 PM
ycfreak
post Apr 10 2007, 02:42 PM

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QUOTE(electron @ Apr 10 2007, 10:48 AM)
interest rates would be at least 4-5% for a car that age
*
So expensive?? I was expecting around 3.xx only
Azuma-kun
post Apr 10 2007, 02:53 PM

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QUOTE(ycfreak @ Apr 10 2007, 02:42 PM)
So expensive?? I was expecting around 3.xx only
*
normally, 2nd hand car interest is higher than new car.
Tainted
post Apr 10 2007, 05:05 PM

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So how much downpayment needed to pay when buying a 2ndhand car?
Say a 2ndhand Waja or Gen2?
DigitalTech
post Apr 11 2007, 03:38 PM

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QUOTE(Tainted @ Apr 10 2007, 05:05 PM)
So how much downpayment needed to pay when buying a 2ndhand car?
Say a 2ndhand Waja or Gen2?
*
How to answer your question, when you don't mention the car manufactured year and price?
shoryuken
post Apr 11 2007, 05:06 PM

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I purely agree don't make car installment >7 yrs......

I am suffering the car loan right now......... >.<""


DigitalTech,

What is your opinion for the best duration for loan ~ 70k??

U seem very expert !!
Tainted
post Apr 11 2007, 05:53 PM

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Oh sorry,Say a Gen2 2004 RM33k and a Wira 1.3 2001 RM19k?
wb4j
post Apr 11 2007, 06:04 PM

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QUOTE(shoryuken @ Apr 11 2007, 05:06 PM)
I purely agree don't make car installment >7 yrs......

I am suffering the car loan right now......... >.<""
DigitalTech,
If one has to stretch the loan up to 7 years, that means he or she just cannot afford to own the car. The rule of thumb should be less than 5 years.

Unfortunately, nowadays 7 years car loan is a norm.
DigitalTech
post Apr 12 2007, 10:45 AM

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QUOTE(shoryuken @ Apr 11 2007, 05:06 PM)
I purely agree don't make car installment >7 yrs......

I am suffering the car loan right now......... >.<""
DigitalTech,

What is your opinion for the best duration for loan ~ 70k??

U seem very expert !!
*
Firstly, i would suggest you to buy a car if you budget to put at least 50% as downpayment. Secondly, if you take a loan, don't exceed 5 years repayment.

If both criteria are not met, and you insist to buy one, then you are spending future money with the expense of yourself now. Be patience. Cash is King. Car will diminish your wealth.

I drive a old proton waja, company car. I am very happy that I don't even have to pay a single cent for the car including all maintenance. I can afford to pay cash for a new honda civic, but i decided to keep cash and grow it. I use the cash to buy a property and fetch rental and at the same time enjoy capital apprciation. Best of both world.

When i have passive income which can support a better car, there's the time to buy a car. Passive income means you don't need to work for it to get the income, like property rental or business. You don't exchange time for money.


Added on April 12, 2007, 10:49 am
QUOTE(Tainted @ Apr 11 2007, 05:53 PM)
Oh sorry,Say a Gen2 2004 RM33k and a Wira 1.3 2001 RM19k?
*
Put at least 50% of downpayment. If you cannot afford, postponed your purchase. work harder and accumulate wealth.

Remember.....what drives you? Don't let your car drives you up the wall.

This post has been edited by DigitalTech: Apr 12 2007, 10:49 AM
shoryuken
post Apr 12 2007, 11:40 AM

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50% down payment is good............ but, if i got 30k, i am sure put dump to housing loan instead of Car loan.

Housing loan % > Car Loan %..........

My monthly budget for installment is around 2.2k.
Housing loan took me 1.2k (actual need 0.9k). left 1k for car..........

If i loan 70k - 2.65% - 7yrs - monthly = rm 987.92
If i made it to 5 yrs, monthly = rm 1321.25......... still within budget if i pay the exact 0.9k for housing loan.
But, the housing loan installment will took me forever.........
DigitalTech
post Apr 12 2007, 11:51 AM

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QUOTE(shoryuken @ Apr 12 2007, 11:40 AM)
50% down payment is good............ but, if i got 30k, i am sure put dump to housing loan instead of Car loan.

Housing loan % > Car Loan %..........

My monthly budget for installment is around 2.2k.
Housing loan took me 1.2k (actual need 0.9k). left 1k for car..........

If i loan 70k - 2.65% - 7yrs - monthly = rm 987.92
If i made it to 5 yrs, monthly = rm 1321.25......... still within budget if i pay the exact 0.9k for housing loan.
But, the housing loan installment will took me forever.........
*
Do you own a car already? Are you upgrading your current car now?

I would suggest you to open a Std Chd Mortgage One home loan account. You put all your money into this account and consolidate to offset interest. Long run you will see how much you save.

If you really need a car, try to get a affordable one with low maintenance and good fuel consumption.

All the rest of the money put into your home loan. Mortgage one calculates daily rest. The more money you put in, the more money you save.

ultimately you must try to payoff you home loan asap. Home loan interest will kill you softly. However property will have capital appreciation overtime. But everybody needs to have at least 1 home.

I tell you, if your home instalment is 1.2k, the principal component only RM200.00. The remaining 1k is interest. Meaning you are working hard for the bank. If you constantly remind yourself this way, you will work very hard to payoff whatever loan asap.

Consolidate your accounts is the way to go.

another thing is car loan are calculate flat. So you need to work out the effective interest. But usually still lower than home loan. The downside is car depreciate and home appreciate.
shoryuken
post Apr 12 2007, 12:15 PM

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QUOTE(DigitalTech @ Apr 12 2007, 11:51 AM)
Do you own a car already? Are you upgrading your current car now?

I would suggest you to open a Std Chd Mortgage One home loan account. You put all your money into this account and consolidate to offset interest. Long run you will see how much you save.

If you really need a car, try to get a affordable one with low maintenance and good fuel consumption.

All the rest of the money put into your home loan. Mortgage one calculates daily rest. The more money you put in, the more money you save.

ultimately you must try to payoff you home loan asap. Home loan interest will kill you softly. However property will have capital appreciation overtime. But everybody needs to have at least 1 home.

I tell you, if your home instalment is 1.2k, the principal component only RM200.00. The remaining 1k is interest. Meaning you are working hard for the bank. If you constantly remind yourself this way, you will work very hard to payoff whatever loan asap.

Consolidate your accounts is the way to go.

another thing is car loan are calculate flat. So you need to work out the effective interest. But usually still lower than home loan. The downside is car depreciate and home appreciate.
*
Yup, got "super protom" wira..... year 2002. Nut, the noise when driving is "better than" 20yrs HONDA........... doh.gif

I just switch to Citybank - flexi home loan recently. and just dump 20+k last month......
Can take back what ever extra dumped $$ whenever i want..... tongue.gif

my house regular monthly installment is ~rm933, but i made it 1.2k.
i knew the principle issue, thanks for remind me...

Tainted
post Apr 12 2007, 02:14 PM

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QUOTE(DigitalTech @ Apr 12 2007, 11:45 AM)

Added on April 12, 2007, 10:49 am

Put at least 50% of downpayment. If you cannot afford, postponed your purchase. work harder and accumulate wealth.

Remember.....what drives you? Don't let your car drives you up the wall.
*
I need a car so no choice.
Most probably will get a Wira 1.3 or Satria 1.3 for abt RM18k.
Any idea how's the interest rate for these cars and from which bank?
ozak
post Apr 13 2007, 12:22 AM

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Can we save the interest if we pay up early instead of 5yrs or 7yrs? Let say I pay up by 4yrs from the 5yrs loan I took. So I save 1yrs interest rate. Or the bank is still charge me full interest even I pay up early?
ycfreak
post Apr 13 2007, 06:55 AM

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No la. It is always the best to pay up earlier. You save 1 year interest
DigitalTech
post Apr 13 2007, 12:14 PM

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QUOTE(ycfreak @ Apr 13 2007, 06:55 AM)
No la. It is always the best to pay up earlier. You save 1 year interest
*
The earlier you settle, the more interest you pay. So better decide the repayment period before commiting to the hire purchase agreement. This is different from home loan.

What drives you?
shoryuken
post Apr 13 2007, 02:55 PM

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QUOTE(Tainted @ Apr 12 2007, 02:14 PM)
I need a car so no choice.
Most probably will get a Wira 1.3 or Satria 1.3 for abt RM18k.
Any idea how's the interest rate for these cars and from which bank?
*
Tainted,

check my pm, please. smile.gif
SUSMatrix
post Apr 13 2007, 05:00 PM

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QUOTE(ozak @ Apr 13 2007, 12:22 AM)
Can we save the interest if we pay up early instead of 5yrs or 7yrs? Let say I pay up by 4yrs from the 5yrs loan I took. So I save 1yrs interest rate.  Or the bank is still charge me full interest even I pay up early?
*
NO. You're liable to pay up interest+principal even if u pay up earlier. They'll only give you a small discount like a few hundred bucks. Unlike Home Loan, the more u pay up, you're principal loan reduced, thus interest reduced and you can settle the rest of the principal without paying any interest after the initial tie-down period (3 to 5 years depending on ur contract).

That is why, car loan sucks. Don't go for long loan for cars. It's just not worth it. And if u already have a long loan, don't pay off early either coz ur money can be use to make money in the bank and elsewhere instead of giving it to the bank for a small discount.

Ex: If you still owe 30K(total loan principal + interest) to a bank for 5 years and you pay it off, you'll probably get a 1K discount tops.

However, if u put RM30K in the bank for 5 years, even at 4% interest, with accummulated interest, you can earn RM6.5K !!!

So just pay slowly and don't settle early if u owe bank long car loan.

This post has been edited by Matrix: Apr 13 2007, 05:09 PM
shoryuken
post Apr 13 2007, 05:23 PM

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QUOTE(Matrix @ Apr 13 2007, 05:00 PM)
NO. You're liable to pay up interest+principal even if u pay up earlier. They'll only give you a small discount like a few hundred bucks. Unlike Home Loan, the more u pay up, you're principal loan reduced, thus interest reduced and you can settle the rest of the principal without paying any interest after the initial tie-down period (3 to 5 years depending on ur contract).

That is why, car loan sucks. Don't go for long loan for cars. It's just not worth it. And if u already have a long loan, don't pay off early either coz ur money can be use to make money in the bank and elsewhere instead of giving it to the bank for a small discount.

Ex: If you still owe 30K(total loan principal + interest) to a bank for 5 years and you pay it off, you'll probably get a 1K discount tops.

However, if u put RM30K in the bank for 5 years, even at 4% interest, with accummulated interest, you can earn RM6.5K !!!

So just pay slowly and don't settle early if u owe bank long car loan.
*
Ya loh, if u made your car loan at 7yrs, then just pay regularly to finish it.

If got extra money, pay for housing loan, most of it is daily interest(check 1st).
U pay today, the interest charge go down tomorrow. smile.gif
ycfreak
post Apr 13 2007, 05:36 PM

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QUOTE(DigitalTech @ Apr 13 2007, 12:14 PM)
The earlier you settle, the more interest you pay. So better decide the repayment period before commiting to the hire purchase agreement. This is different from home loan.

What drives you?
*
Car loan and house loan different? I never took a car loan, only house.
ozak
post Apr 14 2007, 09:11 PM

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QUOTE(Matrix @ Apr 13 2007, 05:00 PM)
NO. You're liable to pay up interest+principal even if u pay up earlier. They'll only give you a small discount like a few hundred bucks. Unlike Home Loan, the more u pay up, you're principal loan reduced, thus interest reduced and you can settle the rest of the principal without paying any interest after the initial tie-down period (3 to 5 years depending on ur contract).

That is why, car loan sucks. Don't go for long loan for cars. It's just not worth it. And if u already have a long loan, don't pay off early either coz ur money can be use to make money in the bank and elsewhere instead of giving it to the bank for a small discount.

Ex: If you still owe 30K(total loan principal + interest) to a bank for 5 years and you pay it off, you'll probably get a 1K discount tops.

However, if u put RM30K in the bank for 5 years, even at 4% interest, with accummulated interest, you can earn RM6.5K !!!

So just pay slowly and don't settle early if u owe bank long car loan.
*
Maybe I get the wrong information. My friend just took a 9yrs loan for his new car. He told me that you can save the interest by payoff earlier.
Tainted
post Apr 14 2007, 11:06 PM

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That was what I heard from my friend too.
Quite confused.
weggoweggo
post Apr 14 2007, 11:44 PM

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Usually when I'm tempting to upgrade to a brand new foreign made car, I scared the shit out of me by assuming I need to pay in full. Assuming we are able to save about $500 per month, it takes at least 7 - 10 years to amass a sum enough to buy MyVi with cash. The all important question, do we want to waste 1/3 or /14 of our life saving to buy depreciating assets? Funnily when we narrow our financial limit just on monthly payment stretching 5 - 9 years, the impact is not readily realized. Sorry if my words a bit harsh, but I myself took a 5 years car loan then. It seemed I have been working my entire life b4 paying it off. The day when anyone pays off his financial burden, priceless. There's nothing wrong owning a car but making the wrong & impulsive purchase could jeorpadize anyone's opportunity to accumulate wealth. Most folks discounted hidden costs factors e.g. inflation, fuel, maintenance, family and feel-good (an example, who wants to wear singlet & shorts driving a Beemer?). My rule of thumb, find a car (1st or 2nd hand) which will be paid off in MAX of 5 years installment & 1/5 of take-home pay. You go figure the installment and car made.

Let me ask a simple question. Do you agree that the time when we start taking car or housing loan, our attempt to save money dwindled or even diminished?
DigitalTech
post Apr 18 2007, 02:53 PM

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QUOTE(weggoweggo @ Apr 14 2007, 11:44 PM)
Usually when I'm tempting to upgrade to a brand new foreign made car, I scared the shit out of me by assuming I need to pay in full. Assuming we are able to save about $500 per month, it takes at least 7 - 10 years to amass a sum enough to buy MyVi with cash. The all important question, do we want to waste 1/3 or /14 of our life saving to buy depreciating assets? Funnily when we narrow our financial limit just on monthly payment stretching 5 - 9 years, the impact is not readily realized. Sorry if my words a bit harsh, but I myself took a 5 years car loan then. It seemed I have been working my entire life b4 paying it off. The day when anyone pays off his financial burden, priceless. There's nothing wrong owning a car but making the wrong & impulsive purchase could jeorpadize anyone's opportunity to accumulate wealth. Most folks discounted hidden costs factors e.g. inflation, fuel, maintenance, family and feel-good (an example, who wants to wear singlet & shorts driving a Beemer?). My rule of thumb, find a car (1st or 2nd hand) which will be paid off in MAX of 5 years installment & 1/5 of take-home pay. You go figure the installment and car made.

Let me ask a simple question. Do you agree that the time when we start taking car or housing loan, our attempt to save money dwindled or even diminished?
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SUSMatrix
post Apr 18 2007, 04:06 PM

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QUOTE(ozak @ Apr 14 2007, 09:11 PM)
Maybe I get the wrong information. My friend just took a 9yrs loan for his new car. He told me that you can save the interest by payoff earlier.
*
(1) The info isn't totally wrong. RM500 discount also "save interest"....except that ur interest could be RM20K. What's RM500 against RM20K!!!!

(2) Ur friend kena con kaw kaw by the bank agent...LOL.


jono.joni
post Apr 19 2007, 06:12 PM

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hey i have a question here, i have a budget around 30k for a car. Within this budget, I

suppose i can afford second hand waja 2002 which cost me 32k on the road. But then I

have an idea to get a loan for the new waja, cost rougly 60k. I will use my budget, 15k

for down payment and then the balance for instalment which i assume will cover 2 years

time. Since i'm unsure how long will I stay in malaysia (at least 2 years), i think this is

the best way because i can sell the car to the dealer will quite reasonable resale value

rather than getting 2002 waja then sale the car to the dealer while the price will dropped

further even if the conditions still worth, but it would be on 3rd hand and 7years old.

How my idea sounds?
yennll
post Apr 19 2007, 08:44 PM

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Matrix, I just booked a new car and plan to loan for 7 years@RM46K after t-in my old car.

Some advised me to take up the max loan (65K++) and ask for 'cash back' & then put it into housing loan..Is it advisable to do so? I am thinking if there will be very risky by doing so,.. dig new hole to cover the old 1..

There is one financial planner told me, 'better' to have longer loan tenure, in order to have monthly investment into Unit trust (etc) which have average annual return@8-10%. What do you think?

Many thanks for your advice
SUSMatrix
post Apr 20 2007, 09:38 AM

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QUOTE(yennll @ Apr 19 2007, 08:44 PM)
Matrix, I just booked a new car and plan to loan for 7 years@RM46K after t-in my old car.

Some advised me to take up the max loan (65K++) and ask for 'cash back' & then put it into housing loan..Is it advisable to do so? I am thinking if there will be very risky by doing so,.. dig new hole to cover the old 1..

There is one financial planner told me, 'better' to have longer loan tenure, in order to have monthly investment into Unit trust (etc) which have average annual return@8-10%. What do you think?

Many thanks for your advice
*
I'm not sure how the 'cash back' programme ur offered works. What is the amount? etc? So i can't give more comments unless you have more details

Anyway, assuming it's 4% interest.
RM65K=RM2,600 x 7 = RM18,200 (Interest)
RM46K=RM1,840 x 7 = RM 12,880 (Interest)

Diff=18,200-12,800=RM 5,400

If your cashback is > the diff, it MIGHT be worth it. Dumping extra 5K into ur loan a/c will set off ur Principal by 5K. Additionally, ur interest over the housling loan duration is also shaved a bit (not much...5K doesn't make such a huge impact...u'll need to calculate in detail.)

btw, is ur cashback relative to the #of years of loan?

However, do rememer ur monthly repayment is higher.
Loan at 65K=Monthly payment=RM990
Loan at 46K=Monthly payment=RM700

But more importantly, you'll have the 19K extra to work around with right (if u loan RM65K instead of RM43K? This give you an extra angle to work at! With 19K u can pretty either put it into ur housing loan, earn from FD or unit trust fund.

So in ur case, it might be worth it. smile.gif

But pleez don't take my word for it...check all ur details and get more advice from financial adviser!!!




Tainted
post Apr 20 2007, 07:02 PM

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I wonder what's the max. age to get car loan as I heard from many that above 55yrs of age is impossible already.
eddie89
post Jun 22 2007, 01:02 PM

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whats is the interest rate for a second hand car? em let say a 2002 perodua kelisa which cost about 22k
Tainted
post Jun 22 2007, 09:56 PM

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What abt 2ndhand cars like proton wira 00'?
someone_stupid
post Jul 8 2007, 10:03 PM

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sifoos my family is looking into getting a new car which costs around 70k+- and most prob the loan will be 7yrs but the prob nw is the interest rate kinda curious hw's the interest rate like? does it differ wif cars? we're planing a waja campro i manage to get eon bank's interest which is 3.8% but wat abt others?
soitsuagain
post Jul 8 2007, 11:41 PM

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QUOTE(goldfries @ Apr 6 2007, 07:10 PM)
EDITED : oh btw the problem with young people these days is that not only they have no planning, their car they want like Myvi and stuff, some more must 1st hand.

i mean really la. it's not about looks. car people don't see what you drive around in wan. fresh-grads, your purpose of a transportation is to bring you to work and bring you home. that's it.
*
I have a friend who buys a Vios who have to pay the installment for 9 years when I buy a Kelisa and only needs to service the installment for 5 years, not to forget he has to pay a higher monthly installment ((and we have roughly the same income)). His choice despite my advice.

brows.gif In other words, why bother spend the first few hundreds extra so damn freaking early in life only to show off a little, and to live like a pauper from paycheck to paycheck for the rest of your days when you could be humble from the start, to save and to invest then, to be able to spend in the thousands later on in life. icon_rolleyes.gif

Btw, not all forms of investment are secured and some may actually lose value (yes! including properties) and do not dare think of investing in the stock market unless you manage to find the time to read firsthand.
shift
post Jul 9 2007, 02:24 AM

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I talk with umw toyota seller & hyundai last nite at car promotion in shopping mall.
the interest rate for

vios = 2.3 - 2.5% (public bank)
hyundai accent = 2.4 - 2.6% (forget to ask which bank)
hyundai matrix = 2.3% (public bank)
latio = 2.3 - 2.4% (eon bank)

but they say proton car interest rate high than this..... truth ka? hmm.gif
Azuma-kun
post Jul 9 2007, 02:31 AM

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Proton should be 3.88-4.3% which is ridiculous for a local car:x
jssim
post Jul 9 2007, 05:43 PM

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QUOTE(shift @ Jul 9 2007, 02:24 AM)
I talk with umw toyota seller & hyundai last nite at car promotion in shopping mall.
the interest rate for

vios = 2.3 - 2.5% (public bank)
hyundai accent = 2.4 - 2.6% (forget to ask which bank)
hyundai matrix = 2.3% (public bank)
latio = 2.3 - 2.4% (eon bank)

but they say proton car interest rate high than this..... truth ka?  hmm.gif
*
truth la....
but is the interest rate with a lot **???
sani_2020
post Jul 9 2007, 07:52 PM

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i have one question here
i made a car loan of 49k at 3.88 interest rate for 6 years
what if i were to settle the loan next year?

do i get any discount from the bank?
the interest i have to pay is for one year only rite?
shift
post Jul 9 2007, 08:28 PM

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QUOTE(jssim @ Jul 9 2007, 05:43 PM)
truth la....
but is the interest rate with a lot **???
*
What do u mean by "a lot ***" ?? rolleyes.gif


QUOTE(sani_2020 @ Jul 9 2007, 07:52 PM)
i have one question here
i made a car loan of 49k at 3.88 interest rate for 6 years
what if i were to settle the loan next year?

do i get any discount from the bank?
the interest i have to pay is for one year only rite?
*
What car do u take? New or used?

Anyone know what interest rates for 2nd car.... Hyundai Matrix for example?

sani_2020
post Jul 9 2007, 10:10 PM

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i took gen2 new car
bryan90s
post Jul 10 2007, 02:31 PM

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there is one 'Loan early settlement calculator' at autoworld website.

just key in your loan amount, total months of repayment, monthly payment and etc
calvin_swk
post Jul 11 2007, 01:07 AM

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QUOTE(bryan90s @ Jul 10 2007, 02:31 PM)
there is one 'Loan early settlement calculator' at autoworld website.

just key in your loan amount, total months of repayment, monthly payment and etc
*
can list out the link?? rclxms.gif
uk9089
post Jul 3 2008, 10:47 AM

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Want to ask 1 accounting question. I want to know, if i borrow car loan of RM50,000 and my interest is RM10,000 for 9 years.

Question:
If i pay full settlement within 1 year, is it possible for the 8 years interest will be waive?
SUSaltimi
post Jul 3 2008, 11:13 AM

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No, you still have to pay interest but not much la because you got full settlement punya rebate. Full settlement is total payable amount tolak early settlement rebate.....


(96x97)/2
Total rebate = --------------- X 10,000
(108x109)/2

= RM 7910

This post has been edited by altimi: Jul 3 2008, 11:15 AM
oscarsmh
post Jul 3 2008, 06:44 PM

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how much tax u have to pay for your home yearly?
shakiraa
post Jul 3 2008, 09:50 PM

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any idea what's the interest for new car purcahse now? was told will go up to 3+%. thanks.
kb2005
post Jul 3 2008, 10:02 PM

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QUOTE(shakiraa @ Jul 3 2008, 09:50 PM)
any idea what's the interest for new car purcahse now? was told will go up to 3+%. thanks.
*
It depends on what car you plan to buy. Interest rate for Proton will be higher compared to Honda or Toyota. biggrin.gif
oscarsmh
post Jul 4 2008, 04:59 AM

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actually depends on the amount of loan u going to apply,the higher the lower interest,or else bank earn nothing from your interest.
Legal Ah long ma...cheers

This post has been edited by oscarsmh: Jul 4 2008, 05:00 AM
jcliew
post Jul 10 2008, 03:28 PM

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QUOTE(kb2005 @ Jul 3 2008, 10:02 PM)
It depends on what car you plan to buy. Interest rate for Proton will be higher compared to Honda or Toyota. biggrin.gif
*
How bout the current latest loan interest for Proton? 4.XX%???
sinclairZX81
post Jul 10 2008, 03:30 PM

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Interest rates are going to be raised before the end of the year, based on worldwide economic situations. If you need to take a loan, do it soon.
speed7791
post Jul 11 2008, 01:55 PM

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QUOTE(DigitalTech @ Apr 9 2007, 03:13 PM)
Let me ask you are this question:

What drives you? You drive your car or your car drives you?

If you struggle just to maintain a car, then the car is driving you and you will be working for the bank.

Don't be a labour for your car and bank. You work for yourself.
If you have this mindset, you will never be rich.

Struggle now and be patience. Your chance will come. But you need to take necessary step now.

Take a freaking 9 years loan. Feed petrol to car and pay salary to bank every month. To me, it seems like you are working for them.

You will enjoy the car maybe 1 year. Then your car deterioates in apperarence and performance, and you begining to get bored. What's next? you still have to pay another freaking 8 years instalment.

Don't want to pay? Too bad, if you sell the car now, you will have to fork out huge sum of money, because you put in a little downpayment. You will be STUCK! Don't know all these years you work for what? Ask yourself again. Be true to yourself now, before it's too late.
*
you're not wrong... also not correct

i believe this subject is very subjective... how much to pay up front, loan tenure and so forth. It boils down to each individual's needs.

for those who pay more deposit, you r actually paying depreciation upfront. ya...ya...ya... u save on interest but that doesn't change the fact that u r paying depreciation upfront. if someone is very calculative, buy the whole car in cold hard cash without any loan lo. those who put minimum deposit on their purchase could use the extra to invest elsewhere also right... can also compensate for the loss in interests paid to the bank on their hp loan...

its understood that when u buy car u buy something that depreciates in value. so calculative then take bus no. 11. pay more early or pay more later makes a difference differently to different people.. thats y it really depends on the individual's personal needs. those who pay more deposit may want to change car after 3-4 years or that they have higher disposable income, and of course they could be very good accountants too.

conclusion: if u r buying a car, do your own planning n seek advice if u r unsure. your needs and goals may not be the same as others. tailor your budget according to your financial standing

DigitalTech
I do admire what u said cos it shows very determined attitude... wink.gif nod.gif

This post has been edited by speed7791: Jul 11 2008, 02:05 PM
adrianocy
post Jul 11 2008, 02:01 PM

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wat is da rate offer by toyota if i were to book vios J specs?
oscarsmh
post Jul 11 2008, 07:25 PM

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Alliance Bank 6.35% for 2nd car now
feizaiII
post Jul 21 2008, 02:03 PM

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how about vios / city?
! Love Money
post Jul 22 2008, 03:09 AM

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QUOTE(oscarsmh @ Jul 11 2008, 07:25 PM)
Alliance Bank 6.35% for 2nd car now
*
thanks... thats y now all 2nd hand cars stack like bukit rclxms.gif
hope2see
post Jul 22 2008, 02:42 PM

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QUOTE(g00glesYYl @ Apr 5 2007, 02:17 PM)
3.88% for Citibank or may be Maybank
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QUOTE(kingmaker_20 @ Apr 5 2007, 04:18 PM)
Wait for the 9th year to buy two cars?greedy?And how if you already kong before the 9th year?Just don't think too further,you must look what you have now,not what you can have later or the 9th year.
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mine, just 3.75 got the loan from ambank june this year.... hehe....
freddie
post Jul 22 2008, 03:40 PM

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h/p rate will go up again next week. target 0.5-1% this time.
S4PHTT
post Jul 22 2008, 04:33 PM

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Maybe can wait until year end only buy car...normally year end buy car got give discounts if you don't mind your car value will be lower few years later...like my friend that bought a car during year end promo, took half loan @ 7 years but was given discount almost as much as his 7 years interest...means the dealer paid the interest for him... rclxms.gif

This post has been edited by S4PHTT: Jul 22 2008, 04:42 PM
acbc
post Jul 22 2008, 09:31 PM

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Well, it all depends...

Like me, I don't change cars every 2-3 years. I keep my cars for at least 10 years. Take my VR4, it has been with me for 18 years already and in running condition.
alexio
post Feb 25 2009, 10:37 PM

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right now the economic is bad. issit most the banks have lower their interest rate for both new and used car loan?
zelda
post Apr 4 2009, 11:24 PM

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if wana buy a 04' wira a/b for 30k then which bank should i proceed to?

thx.... icon_question.gif

K3nnYkl82
post Apr 4 2009, 11:48 PM

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try look for public bank ...
they offer good rate .. but the loan a bit lower la ..
zelda
post Apr 5 2009, 11:06 AM

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public bank arr u said ? mayb i'll go hv a look lol, then izit possible to get full loan for the used 04' wira a/b? or below 100% nia? sad.gif
K3nnYkl82
post Apr 5 2009, 01:49 PM

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public bank wont offer full loan .. but interest is low
full loan normally interest higher
zelda
post Apr 5 2009, 03:35 PM

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then on this day which bank will ever gv us buyer making full loan for used car? sad.gif ?


Added on April 5, 2009, 3:38 pm doh.gif then which bank will gv buyer making full loan for used car ?

This post has been edited by zelda: Apr 5 2009, 03:38 PM
mtsen
post Apr 6 2009, 12:26 AM

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any bank will do but need start buyer and seller first tongue.gif
zelda
post Apr 6 2009, 01:18 PM

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wat u mean by dat?
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ciohbu
post Jun 29 2009, 08:59 AM

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Hi,
anyone know what is the current interest for New proton car and 2nd Hand Honda City ?

thanks
trdcelica
post Jun 29 2009, 10:53 PM

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afaik..
proton offers 2.x% whereas used honda have around 3.5 or above..

thats what i know..correct if i'm wrong
radiohead
post Aug 30 2009, 11:25 AM

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civic year 2001-2004 -wat the lowest interest rate?
any good reasonable dealer? where?
zookri
post Aug 31 2009, 07:49 AM

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for all new proton cars 9 yrs 3.75%, 7 yrs 3.65% n 5 yrs below 3.5%
radiohead
post Sep 2 2009, 07:49 AM

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for honda civic 2nd hand - 7th gen civic, year 2002-2003? the cheapest interest?
smwah
post Sep 8 2009, 01:17 AM

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just to ask, for car loan. You can't pay extra for minus up the prinsiple? If want to finish the loan, we also need to pay interest including the interest term which we had earlier agree. Meaning I opt for 5 years, after 2 years i want to finish it, so I also need to pay including the 5 years interest?

Baby_Milo
post Sep 8 2009, 01:45 AM

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QUOTE(smwah @ Sep 8 2009, 01:17 AM)
just to ask, for car loan. You can't pay extra for minus up the prinsiple? If want to finish the loan, we also need to pay interest including the interest term which we had earlier agree. Meaning I opt for 5 years, after 2 years i want to finish it, so I also need to pay including the 5 years interest?
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Car loan is a Hire Purchase loan, it does not work as home loan did. Once you agree on a 5 year loan, you will have to pay all the interest whether you pay more or not. But if you can finish a lot earlier, let's say 1 or 2 years, then maybe you can negotiate with the bank to reduce the interest a bit.
tea_ais
post Sep 8 2009, 02:51 AM

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QUOTE(clsiluf @ Apr 6 2007, 02:30 PM)
7 years cannot?
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Use motorbike lo...can save ma...be minah rempit like me rclxms.gif
kuman
post Sep 8 2009, 09:14 AM

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from what i can see.. the cheapest so far is 2.88% for 9 years but the thing is its only for Toyota vehicles since the loan will be coming from Toyota Capital.

i think the promotion is ending this end of September 2009, so better visit your Toyota dealers now... and as i heard this is the main selling point for Toyota cars since their rate is much lower compared to others and the SA told me that they have been giving this low rate since middle of the year (it started at 2.38% - 2.68% - 2.88%).

After september end, the rate will follow like other bank already... biggrin.gif

( i have no affiliation with Toyota Capital biggrin.gif just sharing the news only)


DarkNite
post Sep 8 2009, 11:12 AM

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QUOTE(kuman @ Sep 8 2009, 09:14 AM)
....i think the promotion is ending this end of September 2009, so better visit your Toyota dealers now... and as i heard this is the main selling point for Toyota cars since their rate is much lower compared to others and the SA told me that they have been giving this low rate since middle of the year (it started at 2.38% - 2.68% - 2.88%).
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There is a catch for Avanza, you must get the car delivered by 19thSept! doh.gif

mybiebie
post Sep 8 2009, 11:48 AM

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wow 19th Sept...i dun think can make it on time since nearing raya already..
rac^86
post Sep 27 2009, 09:06 PM

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Can anyone tell me the current interest rates for honda city? loan for 5yrs.
raymista
post Oct 1 2009, 01:00 PM

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hi to all,

can anyone provide me wif sum infos on which bank offers d lowest interest rates right now? hmm.gif
need help to determine the rates for a used satria GTi this time around.. coz i'm trying to calculate my affordability.
all help n infos r highly appreciated. thanx!~ notworthy.gif
elv2k
post Oct 3 2009, 10:58 AM

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Standard rate as at 1st October 2009.

Non national car
(Toyota, Honda, Suzuki etc)
3-5 years 3.25%
6-7 years 3.40%
8-9 years 3.50%

New national & recon car
(Proton, Perodua etc)
3-5 years 3.50%
6-7 years 3.65%
8-9 years 3.75%

Used car (Less than 10 years and popular model)
3-5 years 3.75%
6-7 years 3.85%
8-9 years 4.00%

New commercial vehicle

3-5 years 3.75%
6-7 years 3.90%
8-9 years 4.00%
raymista
post Oct 3 2009, 01:41 PM

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means dat all banks' rate shudn't go above the aforementioned standard rates eh? or still depends on the bank itself to set any amount?
fyi, i'm trying to get myself a GTi from the year 2000 valued at 28k. the longest period 4 repayment cud b 6 years ryte? so roughly i wud b paying around RM430/month?

TQ though for ur reply icon_rolleyes.gif


QUOTE(elv2k @ Oct 3 2009, 10:58 AM)
Standard rate as at 1st October 2009.

Non national car
(Toyota, Honda, Suzuki etc)
3-5 years 3.25%
6-7 years 3.40%
8-9 years 3.50%

New national & recon car
(Proton, Perodua etc)
3-5 years 3.50%
6-7 years 3.65%
8-9 years 3.75%

Used car (Less than 10 years and popular model)
3-5 years 3.75%
6-7 years 3.85%
8-9 years 4.00%

New commercial vehicle

3-5 years 3.75%
6-7 years 3.90%
8-9 years 4.00%
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prs
post Oct 5 2009, 09:19 AM

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does any1 heard of new interested rate will be implement soon /later ?..kinda high at this moment..plan to buy a new car when % low shocking.gif
ZoOt Kee
post Dec 5 2010, 09:03 PM

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Hi,

Actually i planned to get a used BMW 328i (2000). Owner selling at 60K. i wish to borrow 50K of 5 years (if possible). anyone can advise the estimation loan's rate? TQ

 

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