January 20, 2009 @ 7:02 pm

It’s not the matter whether the car itself can stand for 12 years or not. It’s the car company can stand for that long? Ssangyong is doing bad nowdays and Korean cars market at hit very bad. Even Japanese cars like Toyota are not doing well. I wonder how long can this Kia-Naza survive.

I think Proton & Perodua may do well on this recession since everybody no money to buy expensive car. They all go buy Proton or Perodua. Haha. We sud start buying Proton shares now.
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buying proton shares is like commiting suicide

I think Proton & Perodua may do well on this recession since everybody no money to buy expensive car. They all go buy Proton or Perodua. Haha. We sud start buying Proton shares now.

dun be suprised when potong comes up with a 15 years loan for its Gen2 and other junks. Target: factory operators earning RM600/month. Thousands will fall for it willingly.
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naza is doing it coz their cars are not moving.. i dont think proton will ever do it.. not when their cars are selling ok.

p/s: Sigh! … what the hell is going on with Malaysia these days?!!

Why this scheme exists in the first place? Naza is of-course acting on its own self interest. Once sold, it’s profits and case closed That Koperasi may be ignorant, thinking they are actually helping their members, which they are not. What I’m mystified is, why Ambank joins the fray? Ambank who should have know better willingly participate in this promotion. Car buyers who take this option are most likely unable to dispose their cars later and stand a good chance opting to default on their monthly payment. Ambank itself would then have hundreds if not thousands of repossessed and unsalable cars with loan amount exceeding their market values.

The situation is somewhat analogous to the ‘subprime crisis’ plaguing the American homeowners now. Lessons learns from the crises – You can’t simply sell house to those who can’t afford them – no matter how clever you repackage and spread the risks around. Similarly, you can’t simply sell cars to those who can’t afford them – no matter how clever you spread and juggle the repayment scheme.

Gov should stop this kind of practices

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Spot ON!…now subprime crisis…Later, Msia ..Autoloan crisis!

they scare of proton MPV? (70 – 80K?)
yes, they must hurry up to clear their stock or die..

pity those buy it.

The situation is somewhat analogous to the ‘subprime crisis’ plaguing the American homeowners now. Lessons learns from the crises – You can’t simply sell house to those who can’t afford them – no matter how clever you repackage and spread the risks around. Similarly, you can’t simply sell cars to those who can’t afford them – no matter how clever you spread and juggle the repayment scheme.

Gov should stop this kind of practices

Can anyone stand a car like this for that long?

The RM647 would double up after 5 years due to maintenence and spare parts.

Just like my Kia Carnival ‘02 model. Bought at RM 170k and finally sold for RM 35k as it is.