No sir...

FYI, I own an EV too. Already set in my mind, I'll use it till the battery halfway kaput, then I'll buy a new one. 

Car loan can pay more installment meh?
Can only pay 1 lump sum early settlement (with rebate somemore)
...never heard hire purchase works like home loan - pay more, can shorten tenure

I think this is the correct mindset of getting an EV. Just assume the value almost none by the time battery kaputing

9 years is actually okay for a finance savvy person when the cash you saved is invested and you make sure the returns per annum are more than the interest of the loan, at the end of the tenure you use whatever you generated to pay off the car or used in an emergency.

Then again how many Malaysians here are financial savvy

Were they expecting that they would be selling the car at a higher price than the price they bought it for?

This is the delusion that EV owners are facing. They think that buying an EV = higher status, higher caste, gives them the edge over non-EVs.

They continuously paint themselves as higher status where, if a property has an EV charger = higher status property, and thus would reel in more expensive clients, and/or upgrade the prop as higher standards.

Fact is, it's just like every other salesman out there, pakai air liur cakap. No scientific data to back up such claim, nor is there anything proven by data.

Most EV owners are delusional, syiok sendiri, and feels and thinks highly of themselves, padahal they are only driving an enlarged battery-powered toy car with degrading battery life over time.

I'd say 9 year car loan is actually like renting car at lower rate than car rental service. 

i read some comment, mention if a person cannot afford 5 years loan = cannot buy the car....

none of my car shorter than 9 years loan... if can i prefer to longer loan...

car loan interest are just 2.x% .. imagine you save in FD or EPF.. or flexi current account.. you earn more than paying back car...

that why , if loan lower than 6%, i will never go shorter... my flexi current account give me average 5~6% ... why should i go pay my loan faster???

the moment you buy car, it is depreciating... it not like house...

so your key is to lower the losses.... instead paying faster loan, keep the extra money in better return compare to your car loan...

unless you spend all without saving la 

but at the end of the day the car is yours. You pay for 9 years and end up asset less?

If your interest rate is 2.8% on 100k amount with 9 years repayment, your EFFECTIVE interest rate is 5.15%. You need to find investment that earn more than 5.15%, guaranteed....like EPF savings

Always use EFFECTIVE interest rate to compare

I meant those loan for 9 years but change car after 5 years to be under warranty all the time 

hmm... i not sure why need effective rate...

i alway compare annual.. since our loan is per annum x total loan x years

my current account interest rate is base on housing interest % ... i not able to find my bank rate.. but looking at maybank is 4.35% per annum .. still higher than 2.8%....

i remember this debate before and some bank still offer this type of account....

that why i rarely put in FD beside EPF and SSPN.. majority my money are in this flexi current account....

And owe your entire life to the banks. Seems silly tbh. I paid my car loan off and it's the best feeling ever and whatever money saved from that I can comfortably repair anything that spoils in my 12 years old car

I'm liking this 'k debate talking about renting or buying house, which is better    Some argue that you don't need to worry about maintenance.

Me, I don;t like to borrow. If have to loan, I'd clear it the soonest possible.

I bought a 2023 year made 2024 registered demo unit EV at 99K only when the RSP was around 200K, mileage at 50 KM only and interest rate at 2.3% with 7 years loan. When purchasing insurance, it won't allow us to go that low, must cover at 200K market value. A very good deal for me but very kesian the 1st batch buyers buying at full price.

I bought a 2023 year made 2024 registered demo unit EV at 99K only when the RSP was around 200K, mileage at 50 KM only and interest rate at 2.3% with 7 years loan. When purchasing insurance, it won't allow us to go that low, must cover at 200K market value. A very good deal for me but very kesian the 1st batch buyers buying at full price.

There are stories from the internet that claim you can keep changing car by trading in car after x year with 9 years loan.