Cons of finishing car loan early?
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 Jul 13 2020, 01:07 PM
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All Stars
24,219 posts Joined: Mar 2007 From: Kuala Lumpur  
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QUOTE(ah_suknat @ Jul 13 2020, 12:37 PM) I wanna ask, now I got car bank loan with BSN with 3.15%, now i got offer personal loan from Bank Rkyt with 2.66%, so is it wise to get the loan and settle with BSN? Car loans / Hire purchase interest is not under reducing balance like housing loans. Even it you full settle now, you would not save a lot on early settlement interest.Is there any cons?  |
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Jul 13 2020, 01:56 PM
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All Stars
24,219 posts Joined: Mar 2007 From: Kuala Lumpur
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QUOTE(ah_suknat @ Jul 13 2020, 01:09 PM) Yes but will the lower rates for personal loan safe me money? Go to your bank, check your full settlement vs outstanding balance. Then check your total repayment for personal loan. Then you would know if you could save on interest. MR_alien liked this post
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