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 Loan for secondhand car, direct owner

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sas91 P
post Sep 26 2022, 04:39 PM

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QUOTE(BonBonvoyage @ Sep 26 2022, 04:19 PM)
Planning to buy a second-hand (2019) Proton car from direct owner.

I've talked to a few banks and the rate they offer is quite high, ranging 4.4-4.8% 5 years tenure.

The rate seems a bit too high for me, not sure whether the rate is normal for a 2nd hand local car.

Is there a better alternative to finance the car other than Hire Purchase?
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yes, interest rate for used car always higher than new car.
sas91 P
post Sep 27 2022, 09:57 AM

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QUOTE(BonBonvoyage @ Sep 26 2022, 04:43 PM)
What rate did you get?
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last year...... i got 2.2% for new car (toyota), 3.3% for used car.

since Bank Negara already adjusted interest rate 3 times...... new car will be around 3.0%++ and used car > 4.0%



 

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