Jun 18 2025, 02:45 PM
QUOTE(stevenlee @ Jun 18 2025, 10:20 AM)
i think everyone is miss understood each other...
today i hv salary RM4k i can pay loan without any down payment and without using any of my saving.
and yet i hv 100k in bank with interest rate 4.5% per annum enough to buy cash for the car....
so question is paid fully better or pay installment better with installment rate 2.8% per annum?
Nobody's misunderstanding anyone. Those who think taking a car loan with 2.8% interest rate is better compared to dumping existing FD savings with 4-5% interest rate to buy the car in cash because "car lian has lower interest rate" simple don't know anything about the actual cost of the car loan aka effective interest rate. today i hv salary RM4k i can pay loan without any down payment and without using any of my saving.
and yet i hv 100k in bank with interest rate 4.5% per annum enough to buy cash for the car....
so question is paid fully better or pay installment better with installment rate 2.8% per annum?
The only good about taking car loan vs buying with cash is you are not so immediately affected if there's an emergency that requires a lump sump of money if you don't have enough cash after buying the car in cash.
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