Comments on: More barriers for us to get car loans http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/ Paul Tan on the Automotive Industry Thu, 24 May 2012 19:19:34 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Fatima Sheik Hoosen http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-339984 Fatima Sheik Hoosen Thu, 10 Jun 2010 10:11:57 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-339984 Hi I am desperately looking for a car. I have a valid drivers license and I am employed at a school for the past 7 years. I am blacklisted and have no deposit but can pay the monthly installments Please help if you can. Please contact me on my moblie on 0722135642 Thnaky you Hi I am desperately looking for a car. I have a valid drivers license and I am employed at a school for the past 7 years.

I am blacklisted and have no deposit but can pay the monthly installments

Please help if you can. Please contact me on my moblie on 0722135642

Thnaky you

]]> By: oranglulu http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50474 oranglulu Fri, 15 Sep 2006 18:47:53 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50474 my friend the usecars salesman just told me this month of the total 15 sales he closed,12 already been load rejected.hard time ahead,better spend wisely nowadays.another bank employee friend say,the yards they park reposses vehicle are full and looking for more spaced,cause,enticipating more to be reposses!and the used vehicle price are droping so fast,most of us found that our car price are a lot less then what we owe to the banks,aiya,NEGATIVE ASSETS lah,no thanks to NAP! my friend the usecars salesman just told me this month of the total 15 sales he closed,12 already been load rejected.hard time ahead,better spend wisely nowadays.another bank employee friend say,the yards they park reposses vehicle are full and looking for more spaced,cause,enticipating more to be reposses!and the used vehicle price are droping so fast,most of us found that our car price are a lot less then what we owe to the banks,aiya,NEGATIVE ASSETS lah,no thanks to NAP!

]]> By: domoteka http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50250 domoteka Wed, 13 Sep 2006 15:43:38 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50250 At the very end, we bolehlah people suffer at the whims and fancies of our Mrs 30% and Close one Eye ministers!! We suffer,cry and weep in silence while they enjoy and live in utter luxury with our blood,sweat,tears and soul. All hail Mrs 30%, Close one Eye and all other greedy egoistic ministers. At the very end, we bolehlah people suffer at the whims and fancies of our Mrs 30% and Close one Eye ministers!! We suffer,cry and weep in silence while they enjoy and live in utter luxury with our blood,sweat,tears and soul.

All hail Mrs 30%, Close one Eye and all other greedy egoistic ministers.

]]> By: mycar_stolen http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50123 mycar_stolen Tue, 12 Sep 2006 15:49:09 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50123 this is all because Proton la..price too expensive, then wants to cleasr stocks, then bank effected by the non performing loans... p/s fat crocs getting fatter rakyat dying..or living like zombie this is all because Proton la..price too expensive, then wants to cleasr stocks, then bank effected by the non performing loans…

p/s fat crocs getting fatter rakyat dying..or living like zombie

]]> By: topgunthang http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50067 topgunthang Mon, 11 Sep 2006 23:12:32 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50067 yea...a worldwide slump is around the corner. the australia's slow down is predicted in 2-3 years time. even with the mega billion dollar projects with china cannot prevent the slump, even though that practically spawned alot of millionaires overnight. with reports like this poping everywhere on the news, you can be sure the banks (and rich people) already know about it long before hand. and thus need to cut down on risk. i cant beleive that. rm800 per month and still can buy a car. rm800 barely pays for living expenses. thats like working everyday for 10 years just to pay off the car while not eating. malaysia had a 8 year window to make something out after the asian economic crisis. looks like everything is still trying to pick up and now we're facing the worldwide slump already. proton and mas have gone nowhere in that time. yea…a worldwide slump is around the corner. the australia's slow down is predicted in 2-3 years time. even with the mega billion dollar projects with china cannot prevent the slump, even though that practically spawned alot of millionaires overnight.

with reports like this poping everywhere on the news, you can be sure the banks (and rich people) already know about it long before hand. and thus need to cut down on risk.

i cant beleive that. rm800 per month and still can buy a car. rm800 barely pays for living expenses. thats like working everyday for 10 years just to pay off the car while not eating.

malaysia had a 8 year window to make something out after the asian economic crisis. looks like everything is still trying to pick up and now we're facing the worldwide slump already. proton and mas have gone nowhere in that time.

]]> By: Joe Ooi http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50045 Joe Ooi Mon, 11 Sep 2006 21:05:18 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50045 szw said,"crap lar, say wan improve da country’s automotive sector wan. SAY ONLY !" ---------------- The above explanation perhaps show our G limitation in stimulate our auto sector. Looking forward, car sales is expected to be "bleak", and it is more depressing for P1 as it is a matter of what is the quantum of loss - bigger or biggest lost! So, expected more discount and "special package" offered by P1 and other for buying new cars! So, current P1 bad biz model of selling high price but lowest quality car at local captive market, and selling low price but high quality car for export open market for very certainty that has one end result only - this bad biz model lead P1 to "self destructive by signed death warrant" only. My opinion is credit squeeze is a "win-win" situation for banks and consumers as it is do more good than harm in term of minimize NPL and control unnecessary spending habit of consumers. szw said,"crap lar, say wan improve da country’s automotive sector wan.

SAY ONLY !"

—————-

The above explanation perhaps show our G limitation in stimulate our auto sector. Looking forward, car sales is expected to be "bleak", and it is more depressing for P1 as it is a matter of what is the quantum of loss – bigger or biggest lost! So, expected more discount and "special package" offered by P1 and other for buying new cars!

So, current P1 bad biz model of selling high price but lowest quality car at local captive market, and selling low price but high quality car for export open market for very certainty that has one end result only – this bad biz model lead P1 to "self destructive by signed death warrant" only.

My opinion is credit squeeze is a "win-win" situation for banks and consumers as it is do more good than harm in term of minimize NPL and control unnecessary spending habit of consumers.

]]> By: Joe Ooi http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50041 Joe Ooi Mon, 11 Sep 2006 20:51:05 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50041 bicmos, what you said is happen as the one with RM 800 salary has good record on repayment, and I believed the guy with RM 12,000 salary but can't obtained loan for sure have tonne of outstanding loan to settle! Back to our country macro economy policy, recently we can witness the rising oil price and increase in interest rate by US treasury have direct impact on many developed as well as developing countries like us. The classical approach toward economy policy to control inflation and/or stimulate growth are: - 1. Monetary policy - manipulation of interest rates to control the circulation of money in the market. When there is over-supply situation, the G will increase interest rate to encourage saving and discourage over spending, and vice-versa. 2. Fiscal policy - this is concern with G expenditure, especially use construction sector to generate economy activity and create multiplier effects in the hope that the economy is grow at healthy trend. However, for this new millenium, the economic growth is not limited to these 2 main factors. there is on woman professor from US can prove that "consumer spending" or more popularly known as consumerism can generate and influence the economic growth. Therefore, sometime to a certain extent, G economy policy alone is insuffiecient to stimulate economy growth, as consumer purcahsing power also play pivotal part. Look at our G current budget 07 announcement and this credit squeeze, I can hypotheses the following: - 1. The G try to increase interest rate in order to "divert" private fund, especially from banking institutions to finance 9 MP (i.e. some of the projects finance through PFI), apart from source from EPF. 2. Sell unit trust like recently launch Wawasan 2020 in order to raise fund from the public. 3. Since our current G facing difficulties to raise FDI and secure foreign fund, other option available is reduce subsidy in certain sector (i.e. recently increase of 30 sen for fuel). Other measures implementing by G are: - 1. To increase food production by implementing policy favorable to agriculture sector in order to reduce import bill on food. 2. To increase export in manufacturing sector - electirical, electronic and FDI there is a hope. But other like cars (P1 & P2) and ICT (MSC) is totally hopeless. So, in this captive market for auto sector, consumers is the greatest loser as G as policy maker (NAP), loan (private banking) and the crap producer for cars (P1) only interested to look after their revenue and coffer. left consumer wit nothing - the welfare of consumers is totally neglected as even the basic consumers' right take a back seat in our protective auto sector. bicmos, what you said is happen as the one with RM 800 salary has good record on repayment, and I believed the guy with RM 12,000 salary but can't obtained loan for sure have tonne of outstanding loan to settle!

Back to our country macro economy policy, recently we can witness the rising oil price and increase in interest rate by US treasury have direct impact on many developed as well as developing countries like us. The classical approach toward economy policy to control inflation and/or stimulate growth are: -

1. Monetary policy – manipulation of interest rates to control the circulation of money in the market. When there is over-supply situation, the G will increase interest rate to encourage saving and discourage over spending, and vice-versa.

2. Fiscal policy – this is concern with G expenditure, especially use construction sector to generate economy activity and create multiplier effects in the hope that the economy is grow at healthy trend.

However, for this new millenium, the economic growth is not limited to these 2 main factors. there is on woman professor from US can prove that "consumer spending" or more popularly known as consumerism can generate and influence the economic growth. Therefore, sometime to a certain extent, G economy policy alone is insuffiecient to stimulate economy growth, as consumer purcahsing power also play pivotal part.

Look at our G current budget 07 announcement and this credit squeeze, I can hypotheses the following: -

1. The G try to increase interest rate in order to "divert" private fund, especially from banking institutions to finance 9 MP (i.e. some of the projects finance through PFI), apart from source from EPF.

2. Sell unit trust like recently launch Wawasan 2020 in order to raise fund from the public.

3. Since our current G facing difficulties to raise FDI and secure foreign fund, other option available is reduce subsidy in certain sector (i.e. recently increase of 30 sen for fuel).

Other measures implementing by G are: -

1. To increase food production by implementing policy favorable to agriculture sector in order to reduce import bill on food.

2. To increase export in manufacturing sector – electirical, electronic and FDI there is a hope. But other like cars (P1 & P2) and ICT (MSC) is totally hopeless.

So, in this captive market for auto sector, consumers is the greatest loser as G as policy maker (NAP), loan (private banking) and the crap producer for cars (P1) only interested to look after their revenue and coffer. left consumer wit nothing – the welfare of consumers is totally neglected as even the basic consumers' right take a back seat in our protective auto sector.

]]> By: szw http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50040 szw Mon, 11 Sep 2006 20:48:32 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50040 crap lar, say wan improve da country's automotive sector wan. SAY ONLY ! crap lar, say wan improve da country's automotive sector wan.

SAY ONLY !

]]> By: tiredguy http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50020 tiredguy Mon, 11 Sep 2006 17:23:54 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50020 maybe now have to combine salary with spouse to buy a car. time are tough, so buckel up. maybe now have to combine salary with spouse to buy a car. time are tough, so buckel up.

]]> By: motorhead http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50013 motorhead Mon, 11 Sep 2006 16:29:05 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50013 If they want to proceed with scrap policy, they wud make loans much easier instead, so more ppl can change cars, p1 can sell more cars & more ppl will go blacklisted & they just don't care, as long as national car can sell... If they want to proceed with scrap policy, they wud make loans much easier instead, so more ppl can change cars, p1 can sell more cars & more ppl will go blacklisted & they just don't care, as long as national car can sell…

]]> By: bicmos http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50011 bicmos Mon, 11 Sep 2006 16:24:29 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50011 I once told by a loan officer when applying for a housing loan. He told me that there was once a lady came to apply for an RM80k housing loan which she is serving another RM80k loan and paying RM600 per month. The issue was that she was earning RM800.00 per month (Eight hundreds only) as shown in her payslip. Know what happened to her application? Accepted, and the bank was willing to take the risk although they know that total amount of her monthly payment will be higher than her monthly income. The office also told me that there was once a well dressed man applied for a RM150,000 loan and rejected although he earn RM12,000 per month. The conclusion is simple, if you make loans, pay them on time. The bank will like you and dont really look at how much you earn. Lesson I learned from that episode, I make more loans and make sure I pay on time every months. That will drive up my credit rating for who knows what situation in the future when I need to use a lot of money (say during market crash to buy stock and be super rich overnight). Remember, money is just an idea. It does grow on tree, we just need to know which seed, which soil, which fert to use to make it grow so we can shelter under it. Buying a Waja when you are despath is not a wrong thing if you have family rubber estate at kampung. Cheers I once told by a loan officer when applying for a housing loan. He told me that there was once a lady came to apply for an RM80k housing loan which she is serving another RM80k loan and paying RM600 per month. The issue was that she was earning RM800.00 per month (Eight hundreds only) as shown in her payslip. Know what happened to her application? Accepted, and the bank was willing to take the risk although they know that total amount of her monthly payment will be higher than her monthly income. The office also told me that there was once a well dressed man applied for a RM150,000 loan and rejected although he earn RM12,000 per month.

The conclusion is simple, if you make loans, pay them on time. The bank will like you and dont really look at how much you earn. Lesson I learned from that episode, I make more loans and make sure I pay on time every months. That will drive up my credit rating for who knows what situation in the future when I need to use a lot of money (say during market crash to buy stock and be super rich overnight).

Remember, money is just an idea. It does grow on tree, we just need to know which seed, which soil, which fert to use to make it grow so we can shelter under it. Buying a Waja when you are despath is not a wrong thing if you have family rubber estate at kampung.

Cheers

]]> By: acbc http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50007 acbc Mon, 11 Sep 2006 15:38:47 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50007 I got my loan from AmBank. Don't have any contacts there... just walk in and apply. Got approval after 4 days. I got my loan from AmBank. Don't have any contacts there… just walk in and apply. Got approval after 4 days.

]]> By: motorhead http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50001 motorhead Mon, 11 Sep 2006 14:59:05 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-50001 4G63T DSM... Well said brader... ur brain works similiar like mine...hehehe.. more barriers can be good for all oso.. if ur loan not approved don't be sad.. try la something else.. banks just want to play safe.. jgn marah2... remember, kalu u kena blacklist oso, trust me, that is the last thing u wish for life.. miss one month oso bank record...kalu dah dekat nak mati, bolehlah... go ahead apply lotta loans... & if u r a good loan payer, don't worry for loans approval or waiting time period, bcoz banks will look for u & offer u more loans.... A rating shouldn't be only a rich person... just manage ur budget wisely... ps: I bought a moto cub, bank oso knows.. suma dah online even kedai motor. 4G63T DSM…

Well said brader… ur brain works similiar like mine…hehehe.. more barriers can be good for all oso.. if ur loan not approved don't be sad.. try la something else.. banks just want to play safe.. jgn marah2… remember, kalu u kena blacklist oso, trust me, that is the last thing u wish for life.. miss one month oso bank record…kalu dah dekat nak mati, bolehlah… go ahead apply lotta loans… & if u r a good loan payer, don't worry for loans approval or waiting time period, bcoz banks will look for u & offer u more loans…. A rating shouldn't be only a rich person… just manage ur budget wisely…

ps: I bought a moto cub, bank oso knows.. suma dah online even kedai motor.

]]> By: 4G63T DSM http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49994 4G63T DSM Mon, 11 Sep 2006 14:13:14 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49994 Why this is getting such a negative feeling is beyond me. This is a good thing. NPL are bad. In the sense, banks are doing financial planning for us. If banks think that a person is too risky to loan to you, you shoudl seriously look into why you they think likewise. Once you get a NPL, you are in serious crap. Better don't end up there in the first place. Like motorhead mentioned, I know many people that can barely survive but buy a new car that is worth 60K (ie. Gen2, Waja). Even a Myvi and a Kelisa is torture for someone just starting out fresh from Uni as a Entry Lvl/Junior Executive. I also know people that changes their cars every 3 years for no apparent reason than to drive a new car. You can see they are already struggling, but they still do. Why do people like this buy a new car? Thats just silly financial planning. I have a clerk here that buys a new Waja, decks it out with Rims and bling bling. Yet you know, if he looses this job, that Waja will be a NPL. He has absolutely no life savings to float him for whatever reason. I have no problems getting a gen2, or take a loan for a 110k Altis. Why do I buy a used $20k Satria to motor around? Because I have better plans for my money than to service a loan. People who can buys $150k car technically don't need a loan. They have enough to buy it cash, but just take loans to ward of tax auditors. Scrapping policy? Never will work. Leasing cars? Will never work here either. Just too expensive. In the long run, leasing is more expensive than owning. Capitalist Market? Nothing wrong with that either. Don't even think malaysia is a capitallist market. In a pure Capitalist market, Proton would be long dead. Why this is getting such a negative feeling is beyond me. This is a good thing.

NPL are bad. In the sense, banks are doing financial planning for us. If banks think that a person is too risky to loan to you, you shoudl seriously look into why you they think likewise. Once you get a NPL, you are in serious crap. Better don't end up there in the first place.

Like motorhead mentioned, I know many people that can barely survive but buy a new car that is worth 60K (ie. Gen2, Waja). Even a Myvi and a Kelisa is torture for someone just starting out fresh from Uni as a Entry Lvl/Junior Executive. I also know people that changes their cars every 3 years for no apparent reason than to drive a new car. You can see they are already struggling, but they still do.

Why do people like this buy a new car? Thats just silly financial planning. I have a clerk here that buys a new Waja, decks it out with Rims and bling bling. Yet you know, if he looses this job, that Waja will be a NPL. He has absolutely no life savings to float him for whatever reason.

I have no problems getting a gen2, or take a loan for a 110k Altis. Why do I buy a used $20k Satria to motor around? Because I have better plans for my money than to service a loan.

People who can buys $150k car technically don't need a loan. They have enough to buy it cash, but just take loans to ward of tax auditors.

Scrapping policy? Never will work.

Leasing cars? Will never work here either. Just too expensive. In the long run, leasing is more expensive than owning.

Capitalist Market? Nothing wrong with that either. Don't even think malaysia is a capitallist market. In a pure Capitalist market, Proton would be long dead.

]]> By: Tracks http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49992 Tracks Mon, 11 Sep 2006 14:07:39 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49992 Many view that the tighthening of the requirement for car loan approval is a bad things which is somewhat true. However, I have something to share. Imagine if this is not being done and car loans are still being approved easily. With the current economic situation in Malaysian and the anticipated worldwide slump aound the corner, what if many people lost their job or had to settle for a much lower pay. There are going to be alot more of loan defaulters than now especially for car loans. There are currently alot of 'Kereta Tarik' sitting in numerous yards. With a higher numbers of these 'Kereta Tarik', it will inevitably cause 2nd hand car prices to go down further compared to now. Furthermore, the borrowers may also want to sell of the car quick but at reduced price to minimise the loss. The defaulters may end up with lawsuit from the finance company for the outstanding loan amount owed or even be declared a bankrupt. Ofcourse the scenario may be exaggerated a little but it is quite close to the truth as well. In a way it is helping us also but in a not so direct way. Financial Institution is a business not a charitable organisation. As with any business, their sole intent was to make money and not the other way around. So therefore, they had to be extra cautious in time like these. I am thinking of buying a car as well but maybe is just not the right time at the moment. Many view that the tighthening of the requirement for car loan approval is a bad things which is somewhat true.

However, I have something to share.

Imagine if this is not being done and car loans are still being approved easily. With the current economic situation in Malaysian and the anticipated worldwide slump aound the corner, what if many people lost their job or had to settle for a much lower pay. There are going to be alot more of loan defaulters than now especially for car loans. There are currently alot of 'Kereta Tarik' sitting in numerous yards. With a higher numbers of these 'Kereta Tarik', it will inevitably cause 2nd hand car prices to go down further compared to now. Furthermore, the borrowers may also want to sell of the car quick but at reduced price to minimise the loss. The defaulters may end up with lawsuit from the finance company for the outstanding loan amount owed or even be declared a bankrupt.

Ofcourse the scenario may be exaggerated a little but it is quite close to the truth as well. In a way it is helping us also but in a not so direct way. Financial Institution is a business not a charitable organisation. As with any business, their sole intent was to make money and not the other way around. So therefore, they had to be extra cautious in time like these.

I am thinking of buying a car as well but maybe is just not the right time at the moment.

]]> By: bobdbilder http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49990 bobdbilder Mon, 11 Sep 2006 13:56:59 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49990 The knee jerk reaction; "Rich get richer, Poor get poorer". Fact is; a car is a financial burden. Next to credit cards, we have a high qty of auto credit defaulters. This credit crunch is not only meant for car purchases/loans. It also the same treatment I get when I want to do remortgage my appt. Truth be told, yes I do need to get my credit ratings up. At least for 1 year before considering any loans. I've already done away with my credit card and my appt is about to finish. But I need to wait another year to get another car. Hopefully, by then, the trade in price of a 2nd hand car is better or at least the proces sorted. By then we would all be suffering to get a car that we will fall for the 'voluntary scrapping policy'. Time to make all auto players suffer; tighten your belt, suck it in a drive that old beater. At least you have more cash to spend monthly. That would bring more money into the market and help reduce inflation. The knee jerk reaction; "Rich get richer, Poor get poorer".

Fact is; a car is a financial burden. Next to credit cards, we have a high qty of auto credit defaulters.

This credit crunch is not only meant for car purchases/loans. It also the same treatment I get when I want to do remortgage my appt. Truth be told, yes I do need to get my credit ratings up. At least for 1 year before considering any loans. I've already done away with my credit card and my appt is about to finish. But I need to wait another year to get another car.

Hopefully, by then, the trade in price of a 2nd hand car is better or at least the proces sorted. By then we would all be suffering to get a car that we will fall for the 'voluntary scrapping policy'.

Time to make all auto players suffer; tighten your belt, suck it in a drive that old beater. At least you have more cash to spend monthly. That would bring more money into the market and help reduce inflation.

]]> By: e-nabilll http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49983 e-nabilll Mon, 11 Sep 2006 13:20:18 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49983 normal_user .. and i oso said the move makes sence for the banks to reduce their bad debt...so before u go bash ppl its beter u read the whole ting...be mature abt having a discussion rather than branding ppl headless n all dat... normal_user ..

and i oso said the move makes sence for the banks to reduce their bad debt…so before u go bash ppl its beter u read the whole ting…be mature abt having a discussion rather than branding ppl headless n all dat…

]]> By: motorhead http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49981 motorhead Mon, 11 Sep 2006 13:13:56 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49981 hmm.. well, this means NPL is rising.. can't blame the banks oso... furthermore some people didn't use their brain when buy a car.. I knew some low grade officers go for wajas & big cars... xde pakai otak punya, duit ngam2 utk byr loans saja.. bila budget lari sket mulalah miss byr.. this move bagus juga.. if can't afford buy something else la.. me?.. I use ex850 for more than 5 years (although I can afford bigger cars).. recently my vios loan approved in 3 days only... thank God.. susah ke, senang approved ka, I think tengok orang juga.. good citizen with good loan payments no need to worrylah.. don't ve to be rich, but make sure u pay all ur loan on time... banks will love u.... hmm.. well, this means NPL is rising.. can't blame the banks oso… furthermore some people didn't use their brain when buy a car.. I knew some low grade officers go for wajas & big cars… xde pakai otak punya, duit ngam2 utk byr loans saja.. bila budget lari sket mulalah miss byr.. this move bagus juga.. if can't afford buy something else la.. me?.. I use ex850 for more than 5 years (although I can afford bigger cars).. recently my vios loan approved in 3 days only… thank God.. susah ke, senang approved ka, I think tengok orang juga.. good citizen with good loan payments no need to worrylah.. don't ve to be rich, but make sure u pay all ur loan on time… banks will love u….

]]> By: viceice http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49980 viceice Mon, 11 Sep 2006 13:11:40 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49980 All the Ah Longs must be rubbing their hands in glee... All the Ah Longs must be rubbing their hands in glee…

]]> By: Ralliace http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49979 Ralliace Mon, 11 Sep 2006 12:55:01 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49979 Stupid........... Stupid………..

]]> By: Ralliace http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49978 Ralliace Mon, 11 Sep 2006 12:53:46 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49978 If they don't want us to own cars, well that's bloody fine! But whose looking into improving the freaking public transport? I would not mind not having a car if we had a public transport system which is as good as the one we have have in London, Singapore or Hong Kong. If they don't want us to own cars, well that's bloody fine! But whose looking into improving the freaking public transport? I would not mind not having a car if we had a public transport system which is as good as the one we have have in London, Singapore or Hong Kong.

]]> By: Khairy bin Tengku Ma http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49975 Khairy bin Tengku Ma Mon, 11 Sep 2006 12:45:43 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49975 Korup..... Korup…..

]]> By: bobdbuilder http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49965 bobdbuilder Mon, 11 Sep 2006 11:43:07 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49965 How about BASIS?. another private credit rating agency. BASIS used to be the prefered choice by banks for reference until CTOS come along later. Banks nowdays prefer CTOS over BASIS for commercial reasons. Since BASIS is in the market much earlier than CTOS, their data base is huge, if not bigger than CTOS. Remember, a lot of banks still refers to BASIS nowdays for credit reference How about BASIS?. another private credit rating agency. BASIS used to be the prefered choice by banks for reference until CTOS come along later. Banks nowdays prefer CTOS over BASIS for commercial reasons.

Since BASIS is in the market much earlier than CTOS, their data base is huge, if not bigger than CTOS. Remember, a lot of banks still refers to BASIS nowdays for credit reference

]]> By: bobdbuilder http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49963 bobdbuilder Mon, 11 Sep 2006 11:38:50 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49963 How about BASIS? another private agency. How come no body mentioned about BASIS? . BASIS used to be the main source of reference until CTOS came along into the picture much later. Banks nowdays prefer CTOS mainly due to commercial reasons. They are cheaper to access compared with BASIS. BASIS database is as huge if not larger than CTOS as they have been in the market much longer than CTOS. Remember most banks still refer to BASIS for credit information on customer. How about BASIS? another private agency. How come no body mentioned about BASIS? . BASIS used to be the main source of reference until CTOS came along into the picture much later. Banks nowdays prefer CTOS mainly due to commercial reasons. They are cheaper to access compared with BASIS.

BASIS database is as huge if not larger than CTOS as they have been in the market much longer than CTOS. Remember most banks still refer to BASIS for credit information on customer.

]]> By: tango5 http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49960 tango5 Mon, 11 Sep 2006 11:14:18 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49960 normal_user: have to correct you here. While CCRIS is run by BNM credit bureau, CTOS is NOT run by the CCM (SSM - Suruhanjaya Syarikat Malaysia) Its a third party non govt related business entity. normal_user:

have to correct you here. While CCRIS is run by BNM credit bureau, CTOS is NOT run by the CCM (SSM – Suruhanjaya Syarikat Malaysia) Its a third party non govt related business entity.

]]> By: whatsoever http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49947 whatsoever Mon, 11 Sep 2006 10:07:57 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49947 i fully agree this implementation. i noticed a lot of borrower not exactly with power to pay back. especially those that buy p1. i fully agree this implementation. i noticed a lot of borrower not exactly with power to pay back. especially those that buy p1.

]]> By: eantautjk http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49940 eantautjk Mon, 11 Sep 2006 09:36:33 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49940 Biasa lah. This is a capitalist economy which only benefits the rich and very rich. Housing developers are only building projects that are not within the capabilities of the average Malaysian. So do the car importers. E.g., you think an Audi Q7 is within the purchase power of how many Malaysians. Lexus is also coming. Cars for the masses? So wake up. Life is not fair. Why do the banks wanna offer you a RM50k loan with some default risk when they can do a RM500k loan with relatively lower default risk with another customer? Live with it. Unless, the gov is wiling to restrict the imports of luxury cars or luxury housing projects!!! Biasa lah.

This is a capitalist economy which only benefits the rich and very rich. Housing developers are only building projects that are not within the capabilities of the average Malaysian.

So do the car importers. E.g., you think an Audi Q7 is within the purchase power of how many Malaysians. Lexus is also coming. Cars for the masses? So wake up. Life is not fair. Why do the banks wanna offer you a RM50k loan with some default risk when they can do a RM500k loan with relatively lower default risk with another customer? Live with it.

Unless, the gov is wiling to restrict the imports of luxury cars or luxury housing projects!!!

]]> By: pw http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49919 pw Mon, 11 Sep 2006 05:30:54 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49919 I guess some apek who carry his bank in his pocket will not get any loan from any bank. Perhaps underground banks or should I say the deep sea kind. " Loan sharks" . Squeezing credit from those who really needs it is only going to make more headlines in news papers. I can see the headlines oledi... "Man gets chop by along for debts unpaid..." yah ... sigh ...... its a vecious circle.. When P1 and P2 gulong... it wont be good news either.... more people will be desperate to make ends meet. some could resort to drastic measures... Let hope that day does not come. P1 sucks but I hipe they can improve and continue operating. At least they can support some Malaysians families. I guess some apek who carry his bank in his pocket will not get any loan from any bank. Perhaps underground banks or should I say the deep sea kind.

" Loan sharks" .

Squeezing credit from those who really needs it is only going to make more headlines in news papers. I can see the headlines oledi… "Man gets chop by along for debts unpaid…"

yah … sigh …… its a vecious circle..

When P1 and P2 gulong… it wont be good news either…. more people will be desperate to make ends meet. some could resort to drastic measures…

Let hope that day does not come. P1 sucks but I hipe they can improve and continue operating. At least they can support some Malaysians families.

]]> By: mits27 http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49911 mits27 Mon, 11 Sep 2006 03:01:39 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49911 Not sure is this new crerdit rating approval loan process same as the one used in US, I think it is smiliar in certain area. The US credit rating based on the more the credit point you have, the easier for you to get loan and and the low interest rate...but bad credit people still can get loan just harder and may get higher interest rate. But for sure, it is a good way to eliminate the bad debt, but how the the CCRIS and CTOS get our credit history, if someone don't always has bank transaction, no direct deposit, don't use credit card... Not sure is this new crerdit rating approval loan process same as the one used in US, I think it is smiliar in certain area. The US credit rating based on the more the credit point you have, the easier for you to get loan and and the low interest rate…but bad credit people still can get loan just harder and may get higher interest rate. But for sure, it is a good way to eliminate the bad debt, but how the the CCRIS and CTOS get our credit history, if someone don't always has bank transaction, no direct deposit, don't use credit card…

]]> By: Paul Tan http://paultan.org/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49908 Paul Tan Mon, 11 Sep 2006 02:39:55 +0000 http://paultan.org/archives/2006/09/10/more-barriers-for-us-to-get-car-loans/#comment-49908 normal_user: i was quoting the star. thanks for your valuable info, you must be someone in the banking industry. normal_user: i was quoting the star. thanks for your valuable info, you must be someone in the banking industry.

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