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Lump Sum Payment AEON, Is there any discount?
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TSdreamcatcher_69 P
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  Dec 6 2019, 10:35 PM, updated 7y ago
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New Member
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Hello. A newbie here. Dont know where else to ask. I've recently bought a motorcycle with an AEON loan. Yeah I know bad decision.
So currently have a sum of cash that I can use to pay the total amount of the loan. Will there be any decrease in the total amount that I have to pay?
English is not my forte but I'm trying my best to make you guys understand. If the total amount that I have to pay for the next 5 years is RM20k, if i pay lump sum now will it be less or still 20k? The bike ori price is RM12.5k. (yeah interest super high) I have owned it for 8 months now.
Try to search from other posts and forum but could not find it anywhere. If I missed anything please link it to me. Thank you
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Quazacolt
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Dec 7 2019, 01:11 AM
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QUOTE(dreamcatcher_69 @ Dec 6 2019, 10:35 PM) Will there be any decrease in the total amount that I have to pay? the total amount that I have to pay for the next 5 years is RM20k, if i pay lump sum now will it be less or still 20k? The bike ori price is RM12.5k. (yeah interest super high) I have owned it for 8 months now. Yes there will be decrease of the interest that your loan tenure is not served. Use a loan calculator to approximate/estimate how much less you'll be paying. Basically, the next 5 years will have interest + your loan principle. Only the interest portion is waived/rebate |
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Karenalvin
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Dec 10 2019, 06:32 PM
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Getting Started
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wow... that is more than 10% interest PA!
yes. u do get discount on interest payable on early settlement
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raimy_m9
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Dec 12 2019, 12:05 PM
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Getting Started
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QUOTE(dreamcatcher_69 @ Dec 6 2019, 10:35 PM) Hello. A newbie here. Dont know where else to ask. I've recently bought a motorcycle with an AEON loan. Yeah I know bad decision. So currently have a sum of cash that I can use to pay the total amount of the loan. Will there be any decrease in the total amount that I have to pay? English is not my forte but I'm trying my best to make you guys understand. If the total amount that I have to pay for the next 5 years is RM20k, if i pay lump sum now will it be less or still 20k? The bike ori price is RM12.5k. (yeah interest super high) I have owned it for 8 months now. Try to search from other posts and forum but could not find it anywhere. If I missed anything please link it to me. Thank you you can login to aeon and see the payment details and how much left. if you want accurate how much left to pay right now, you can just call aeon, and ask them. and yes, there will be discount if you do early settlement. |
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alexei
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Dec 13 2019, 04:42 PM
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QUOTE 15% annual interest am I calculating correctly?
RM12.5k price. Assume full loan.
Paid 8 months, left roughtly 5 years 4 months.
Balance to pay ~20k. Estimated full loan tenure is 6 years, and calculates to RM22.5k total loan amount plus interest.
RM10k interest over 6 years for RM12.5k bike... jialat I agak your balance principle amount is RM11.1k. Depending how much AEON wanna squeeze you, hopefully you only need to do full settlement for that amount. This post has been edited by alexei: Dec 13 2019, 04:45 PM |
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