According to a report by StarBiz, hire purchase interest rates have gone up by about a quarter of a percent early this week. An EON Bank officer told the StarBiz reporter that hire-purchase loans are now at the following rates:
| Non-National Cars | National Cars |
| 5 year loan – 3.5% 7 year loan – 3.75% 9 year loan – 3.85% |
5 year loan – 3.85% 7 year loan – 4.00% 9 year loan – 4.10% |
The previous rates were between 3.25% to 3.5% for non-national cars and between 3.75% to 4% for national cars. These rates are a good 1% higher than that of the rates not too long ago where you could get a loan for a new non-national car for 2.8%. I myself got a loan from Public Bank for my E39 two years ago for just 3.75% and that’s for a (then) 11 year old non-national European marque. A friend of mine bought the same model of E39 last year and is paying nearly 6% of interest!
A 1% hike could cost a user an extra installment amount of between RM50 to RM100 a month, with the upper end not seeming like a significantly amount when you are taking a loan for over RM100,000 and paying over RM1,500 a month although it is still money.
Has the higher interest rates changed your car buying decision recently? Please share in the comments. Also, if you’ve purchased a car this year if you’re willing please do let us know what car you bought as well as the bank you applied the hire purchase loan from, the interest rate you got and your loan amount and tenure.
ARGHHHHHHHHHHH…
i just to buy a new car this year..suddenly interest rate increase… arghhh..
BTW, 1st!!!
first they want to cut or remove subsidies, then now bank loan interest rate go up. Later everything get more & more expensive. What they try to achieve?
Best we all unite & dont buy anymore cars in our country… like start saving? :-)
how bank negara printing money?
bank loan RM to local banks…
then you loan RM from banks… you pay RM+extra
bank pay back +extra to bank negara
bank negara print extra RM,
cycle continues… more loans+interests, more RM can be printed :P
why i might be correct? did you all really paid back loan with 100% cash?
typo at line 3: supposed to be, bank NEGARA loan RM to local banks…
banks are big the cheater…..
thats what i can say…
Thank god i bought car last year. anyway, the hike in interest is due to Bank negara decision to revise OPR. Twice in the last 2 month by 0.25point. Analysist says that expecting another 2-3 hike in this year alone. If the it is by 0.25 point each BNM meeting, then we may see interest around 5% by year end. Then we will get back like those pre 1998 Asian Financial Crisis rate ata around 8%.
Higher Interest Rates?
Here’s 1 solution… go get a bicycle ….. :-)
The additional 0.25 percent will be costing us RM 250 per year of loan for each RM100K lean amount. With average of 7 years loan, it is additional RM 1750 in total or RM20 per month.
how come national cars got higher interest rate….?…huh
This is because most rakyat only able to buy national car. So, the bank are able to squeeze and earn more profit.
Yea… i still dont understand tje rationale behind this different standard of interest rate for national car and non-national car.
We are buying a low quality car and serve high interest.
All the banks see the majority of national car buyers as having a “slightly” higher risk of defaulting or becoming non-performing loans… hence they charge this customers higher rate so that they still make good profit even if a small % of the buyers actually default…
whatever happens or the real reason for this discriminating rates, it is a win-win situation for the banks & lose-lose situation for the customers especially those living on the edge of “cukup-cukup makan”….
well….
do we have any bankers here can tell us the actual numbers? who are the biggest NPLs?? the national car buyers or the non national car buyers?
I guess the banks are based on potential risk…… why not look at the history of actual NPLs
it does not care about NPL, it’s squeezing the most out of those people has NO CHOICE.
means that don’t buy national cars, buy the non-national one, you’ll get low int’ rate, yet buying national cars you will still also pay for the excise duty & sales tax, what’s the difference???
i think many people who just order their new car..will cancel the order..huhu..whats wrong with this country..everything going up..lololo
No lah. Nobody will cancel their cars. Those who ordered cars will still need the cars. So even if the interest rates go up they will continue.
The interest rate is locked in once the loan’s approved anyway. It’s still reasonable after the series of rate cuts a couple of years ago. Sometimes up and sometimes down, life goes on..
Lucky my loan approved on MAY prior before the interest rise… as refers i might need to consider twice before buying..
i booked forte 2.0sx on 25th March..
my loan was approved on the next week from RHB Islamic at 2.7% for 9 years
but till now my forte has yet to deliver due to stock color availability huhu
May I know what color did you choose? It must be very popular
i booked white color actually
Nice colour bro..see once at BB
9 years? wow okay…
after 9yrs, u can consider changing ur car again & look for another bank loan…..
by then the interest rate may change again….. :-)
Was actually contemplating of getting a new car this year but when I was informed of the high interest rate (over the weekend actually), it got me thinking and decided not to get a new car. Especially if you are taking a large loam amount, e.g. RM100k, the car dealer mentioned last month, the interest rate was 2.95% whilst the new one at 3.5% would mean that I am paying an extra of RM550/annum and over 5 years that is RM2750 extra. That is actually quite a lot extra, I think it will definitely hit the market.
Its bad enough we have to pay extra due to the import taxes, now with higher interest rates.
Our fundamentals are strong …. the interest rate has gone mental , rakyat needs mental strength to pull through this ! The government would tell us to change the mentality hehe
our fundamental are strong.. hehe. bukan najib punya ayat ka refer keadaan ekonomi 2009.
Yela tu…satu lagi ayat PM..
KDNK Negara meningkat 10.1%.
Jadi BLR Housing Loan pun naik, loan interst rate pun naik..
our fundamental are strong!
I bought a car (my first) back in August 2008 and the rate was 3.7%. Just a month before that I almost bought a car (another marque, another model) with 2.4% rate. The SA for the latter informed that the rate shall go up come August 2008 and boy he was right!
If I am not mistaken the HP rate dipped soon after that up to almost 3% for non-national makes, and now it goes up again?
Who are the one in charge in determining the interest rate,the bank or govt?
I think they charge more on national car because national are cheaper,so if they charge less,no profit maybe
Just my opinion,how about others?
Paul,is that the rate for EON Bank’s loan or fo all the bank in Malaysia?
all bank. Central bank ( bank negara ) tetapkan OPR. so semua bank akan follow. strategi ni ( naik interest rate ) selalunya ada kaitan dgn inflasi. Salah satu cara nak kekang inflasi, so naikkan interest rate. Dan skrg memang pun indek harga pengguna ( penunjuk inflasi ) sedang naik. Interest dinaikkan utk galak rakyat menabung dlm bank dan kurang berbelanja. hehe
Mine & wife current car loan are around at 2.4% & 2.7% respectively ….wt this current and will be increasing int, might as well just keep both car for a loonngg time
good idea…
u r right, just keep ur car.
Thank goodness I decided to forgo getting a new car and traded in my old POS Iswara for a 2nd hand Peugeot. Topped up balance with cash and I am now car-loan free..
bye bye car loan, hello major repair headache.
haha pretty true…
yup, repair bill go up la…
only salary not going up…. how lol……
agree :-)
see next general election..lol
What will happen in the next PRU?
If govt change happened it is highly unlikely rates or prices will go down as might dream.
well… may be the income distribution can go to a different group (you, may be?) rather than the same group of people for the past donkey years….
So if more money can come to you… you will not feel the things u buy expensive anymore, right?
We have to try it either change or not change its another story but a integrity and transparent government is very important for us as Rakyat.
it is good for us to change GOV,so our country can bankrup early then expected!
Actually I don’t mind at all our country goes bankrupt. A decade ago Indonesia was like us now they are growth rate way past ours for the last 5 years. I think IMF did a great job there, they come in and end corruption and bringing FDI which leads to professional jobs creation and bring them to face global competition. A True Wake Up Call.
or not, and now we have to tukar lifestyle lar. end subsidy increase interest rate looks like we heading to area of high income growth…but again which group or party is the government referring? something to ponder about.
this is 1 of the a lot of point..,hahahah
Higher interest rates means our economy’s good. You’re saying you want the economy to be bad?
Actually I don’t mind at all our country goes bankrupt. A decade ago Indonesia was like us now they are growth rate way past ours for the last 5 years. I think IMF did a great job there, they come in and end corruption and bringing FDI which leads to professional jobs creation and bring them to face global competition. A True Wake Up Call.
or not, and now we have to tukar lifestyle lar. end subsidy increase interest rate looks like we heading to area of high income growth…but again which group or party is the government referring? something to ponder about.
Tiadaid – benefiting from the government eh?
Actually corruption getting worse in Indonesia. Just that foreign ownership got powerful in Indonesia.
national car got higher interest rate cos the loan amt is less ma…non national car cost more so the int less la…
central bank aka ah long………..pliz simpathy to low income people…………..
G never think about rakyat……………..
sometimes, it is hard decision when to buy a car. When i bought my proton car on January, i got RM5K discount and interest rate 3.75% for 9 years loan tenure. But just in june, the interest for 5 years loan is more than 9 years loan in january!.In Malaysia, we cannot dream the car price will decrease. but u can expect the price/interest will hike. But dont worry, the people still buy a new car even the interest up to 5%. :-(
With the last few rounds of price increase of cars due to the weak ringgit (before the current ringgit run up), prospect of higher interest rates and higher fuel prices, many people will surely have to rethink their purchasing decision. On top of that, it’s almost impossible to dispose off your old car if you want to purchase a new car unless you don’t mind losing big time selling at ridiculous prices to used car dealers. So, the conclusion is, don’t buy coz the banks thinks the economy is doing so well to warrant higher interest rates when reality is most wage earners are suffering from deterioration in purchasing power and living stardards.
hmm….you think next year the interest rate will drop? may be i have to postpone my plan to get a new car.
terima kasih MALAYSIA!!!
RAKYAT DIDAHULUKAN ‘untuk susah’
PENCAPAIAN ‘kroni’ DIUTAMAKAN
agreed. Someone please take her signature away from our ringgit notes.
yup, and the slogan motto already said it “coz (cronies) lives depend on it”…..
haha..Thank god! Mine is 2.85% last january 2010 with Honda Accord 2.0…
Dont worry, when sales of car drops, then interest rates also jump down..so stop buy a new car..hehe
Just stop buying new car…and later int rate will fall back down
i could be wrong but i think this is roughly a 7-year trend. Interest rates will go up everywhere, including the property market. When governments all over see that citizen buying power is up, they will raise the interest rates. After 7 years or so, when the global economy takes a dip, interest rates will go down again. It’s all just a vicious cycle. Observe the trends, it’s very obvious…
It is called monetary policy ;p
the rich is getting richer the poor is getting poorer. the middle class also getting poorer :P. bravo malaysia. tats the spirirt.
You’re so right… The most ke lian one is the middle class.. At least the poor always get help and their interests are always considered. The makan gaji middle class – pay the most tax but nobody cares about them.. Whatever policy change will hit them the most…
good job, too many craps on the road already..banks please make it higher and who wants to buy car must prepare guarantors like before ahahahaha…
ALong inc. …..
I bought my car last yr with 3% interest rate for 7 years. Not bad considering this yr its 3.75%! Luckily i dont border waiting for the mazda 2 n forte.
so stupid..4.10 for 9 year is too much.. still can’t buy a new car to replacing my 20 years old car..somebody help me
BCR1014 right?
This is in line with China’s plans to cut emissions in what is now the world’s largest car market.
editted:
This is in line with Malaysia’s plans to cut emissions.
This is bad.Already with the increase of fuel in a few months time. i suggest that BN reduce the tax.
since u mention about your E39.. Care to share some write up on it. Hopefully u could let us know what add to it. Some price on parts which has been replace and detail of what ever info. Thanks
ayoyo…mati la people if they gonna do this…fuel price is going up + extra installement…haish…=(
Imported cars low rate is due to the nature of the buyer. In the bank eyes and analysist, imported cars buyer are well work and hard to default. Compare to Perodua and Proton buyer which take a big chunk of defaulters. The risk is there so bank charge higher interest for local cars.
Azrai,
the risk is for buyer. why do we need to pay to bank for the risks which is actually the buyers are undertaking it
The risk on the bank. Risky buyer. Bank is just a capitalist. Their only aim is profit. The case for local car buyers are higher interest rate mean those buyer subsidising the defaulters in the way. That’s how the sytem work in malaysia.
well,
assume we have 2 buyers. Buyer1 and Buyer2
Buyer1 buys let say Alza for almost 70K and buyer 2 maybe buy hyundai accent which is about the same price more or less. Who is the risky buyer here?
buyer 1 is risky simply because he choose to buy local car.
profiler, so what’s that got to do with the bank’s interest rate? I think you lost your point. Azrai’s pretty correct as well as the fact that local cars are cheap that’s why the higher interest rate, it makes a better reason to loan small amounts of money to you.
@azrai : Not just in Msia, but the whole banking industry works like that (higher risk, higher interest).
@profiler : yea, unfortunately it’s not perfect. In some ways, the credit crisis is caused by this weakness.
@Seriously : that guy’s arguing abt the weakness of the system la.
azrai has got a point too…..
iT’S NOT THAT ACTUALLY. Local cars are cheap and banks had no choice but to raise the interest.
BN = Barang Naik…
Bank Negara.. Overnight Policy Rate cause this…
Overnight many become poorer…..
Cars, just like petrol, properties and other cannot-live-without so-called commodities will have fixed demand even if the rates and prices go up. That’s a proven fact in Malaysia in spite of the poor economy, unemployment, high std of living, low salary, etc. This is a country whereby the price of our car is equivalent or greater than our annual salary? E.g. average proton or perodua prices are around 35-45k. However, is the average annual income of malaysians 3k-4k/month? Malaysians, on the overall, spent 2-3 times the value of their car over their annual salary. E.g. monthly salary 3-5k (annual 36-60k) but buying cars with value of RM40k-100k+). Don’t forget one important thing: cars depreciate but the costs of car maintenance and expenses ‘appreciate’ (petrol prices, interest rates, maintenance, etc). This is a sad fact as Malaysians continue to chase the dream of living in the high life – albeit for a short-term.
True true true. We’re spending waay too much on cars.
But public transport in malaysia is so bad that most people have to drive.
I wish I can take a train when I go to KL. But the way the different train, lrt, busses are so disconnected from each other, it’s just nightmare. Not to mention that public transport in Ipoh ‘city’ is stuck in the 80s…. :? :(
So true.In places like Australia and US the cost of a decent new car is less than 6 months salary for a middle income earner. Shocking that in Malaysia people are paying up to 9 years loan on a car! Imagine how much goes into interest.
But one party to blame is also the consumer. I see many younger professionals buying BM’s and Merc’s just because they can afford the monthly repayments without factoring the maintenance costs and depreciation. Better to save money,invest or buy property first and then if you have loads of spare cash then you can buy without loan or minimal loan.
The group that will be most affected are those who have to buy a car out of necessity but don’t have the resources to put a bigger down payment.Perhaps the only solution would be to buy a cheaper secondhand car first and save more money before buying a new car with a larger downpayment
What to do… a lot of people life principles are:
1. Life is short.. so if you don’t enjoy now, are you sure you will live until old age?
2. Biar papa asal bergaya
Few think about investments and long term future unfortunately.. But hey.. we shouldn’t be too judgemental.. It is their life, let them live the way they like it..
Agreed to all. It’s insane people actually are willing to pay 9 years for a car… it just goes to show they actually cannot afford it… wishful thinking.
All,
it was suppose to be this week, but now postpone to next monday. But then there is no official words from bank negara yet. So as of this week.. all interest rate is still the same.
i know coz my fren is doing auto-loan for one of the bank
All those that do not have useful comment pls shut your pie-hole. especially those that like to bring politics to car forums.
you know compare to other country
MALAYSIA
1. petrol = mahal
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7.
8.
please everybody, list the others
Due to above points.. our buying power damn weak and seriously affecting after industry area growth ! Poor Malaysian…keep letting our glory days fade away…
it is endless, we will just end up using too much paultan.org server storage to list down these negative points since Msia got so many incompetent people running the show…
I agree with everything EXCEPT #3. Have u seen rates for loans in other countries?!
proton exora loan @ indonesia = 0% interest rate!!!
haha… other country were interest free for 12-month loan… they buy car just like buying an iphone… too cheap to them…
Hujan emas di negeri orang..Hujan Batu di negeri sendiri..mana lebih baik nih??
0% di Indon!!
petrol murah la…
if not, why ppl smuggle it into thailand…
Road = Lousy also
Water in selangor is bloody expensive,although the state govt said first rm20 is free,but if we use more than that,they charge like hell!
Opps,am i discussing the wrong topic?
Haha.
7. Gaji = rendah
petrol murah…
if not, ppl will not smuggle it to thailand…
Maybe can choose use bicycle then can avoid increasing of all that thing and also can keep your body fit.
Bought my Peugeot 308 in July, interest rate at 2.35% for 5 years.
That’s an increase of about 1.15% in less than a year, at this rate it would be close to 5% by the end of next year.
Bro, hows ur 308 perform ?
I am still in defend position & I heard there will be a 6speeds transmition coming soon.. also waiting kia optima and hyundai B, C segment cars launch in 2011..
Good advice from my SA to buy a car before March, managed to get 2.64% from Toyota Capital for my 2010 Vios.
The higher rates is to sustain inflation. That’s from the view of economic theory.
hmmm… but is the current inflation caused by increasing demand (and real growth) or is it caused by Govt policy of increasing petrol and controlled items for past year or two? Some more minimum wages is in the pipeline, more withdrawal of subsidies on fuel, sugar etc etc… all these eventually will cause price to go up re: higher inflation… whether this will turn into hyperinflation or not, who knows… even if it is becoming expensive to borrow as in Malaysia people will still borrow because they borrow to survive (buy house and cars) and not necessarily to spend on luxury goods etc…
may be we just simply have bad saving habits…. otherwise no need banks what?? we just save and spend later…
TRUE. If cost of borrowing is too low, prices of goods will go up as everyone has easy access to money. Low interest rates will also encourage people to take excessive risks, which they may not be able to handle in the long run. Its the role of our central bank as part of its monetary policy to ensure interest rates are at the right level for the whole economy.
If u know economics, it has nothing to do with suka-suka susahkan rakyat.
The role of our central bank is not only to control the money supply to a manageable level. The central bank has a responsibility to ensure economic growth, control inflation / money supply and keep unemployment at a reasonable level.
You are right that increased borrowing costs would likely decrease inflation because of a decrease in the supply of money. Unless of course the spread between borrowing and interbank lending rates has widened, which would then shift the supply of funds back to the bank, which could result in a redistribution of the purpose of a bank’s fund (i.e shifting from auto loans to other loans with similar characteristics).
However, right here, we are only referring to the microcosm of automobile loans.
As it is, taxes of over 100% have already been imposed on non-national cars (Mind you, taxes is a method to control/redistribute money supply), as it is, a national car’s price vs our average middle class Malaysians’ expendable salary is likely above 5 years, as it would be, petrol subsidies would be cut (Mind you, a cut in subsidy and increased taxes are fiscal measures to control economic growth).
This means that an average middle class Malaysian would take much more than 5 years to fully service his loan. To burden an average working class Malaysian with excessive taxes or to increase interest rates on auto loans which as it is now is far out of reach from any lower income Malaysian would not reduce anyone’s risk appetite. In fact, if a lower income Malaysian were to replace his aging car, he would have to purchase a car despite the increased rates, despite the increased risk unless he is willing to give up his current mode of transport to our less than efficient public transport.
My take is that it is not because of inflation that the rates are going up, it is because of imprudent fiscal expenditure. Are we middle class Malaysians spending recklessly; driving up inflation rates? I take it that we aren’t.
Is Malaysia producing at its potential GDP? I take it that we aren’t. Is our aggregate supply curve vertical signalling that we are producing at our maximum capacity? I take it that we aren’t either. There isn’t a cause to raise interest rates for auto loans/
I am no economics expert, but I think that the increased interest rates is the result imprudent fiscal expenditure.
Korek Korek Korek!
Adam Smith’s teaching cant be applied here in Bolehland!
There are too many invisible hands around meddling with the distribution of wealth in a fairly and natural manner.
Everything seems to increase, just like my blood pressure!
AGREED.
Hmm… great points, except that until we all have the balls to change the govt, it will only just be a distance dream. As the saying goes, “insanity is doing the same thing expecting different results”.
Some may say change govt won’t make a difference, opposition also corrupted la, abuden? Want me to ask to “keluar dari Msia” then can make these people happy?
Corruption may not be eliminated, but I’d take new sheezs anytime than this same old sheez.
yup betul. so kata2 media ekonomi kita pulih memang tipu la
wei, higher rates are to control demand hence inflation! shame. i knew that and i dont even have an econs degree.
usually default rate for national cars is higher, hence higher risk to the bank.. higher risk is being translated to higher rates….
MALAYSIA
1. petrol = mahal & will ongoing increase
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7. Gaji = tak naik…kalo naik also ciput-ciput
8. 2019 = Negara bankrupt
9.
10.
please everybody, list the others
MALAYSIA
1. petrol = mahal & will ongoing increase
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7. Gaji = tak naik…kalo naik also ciput-ciput
8. 2019 = Negara bankrupt
9.Hutang negara=rm356billlion ringgit(Berita mingguan.ahad 30.5.2010)
10.
please everybody, list the others
lol petrol expensive ?
see how much does it cost in other countries
In uk is 1.5 pound? Its cheaper than malaysia if you compare 1 to 1 on earnings. If you X 5 due to exchange rates, then our petrol of RON 97 is RM 2.05 X 5 = RM 10.25 rather than RM 7.50 (1.5 pound X 5)… so… Expensive lor.
When you guy are refering to petrol, please note that other country is still lower than us. please don compare straight, make sure you compare your Salary with them first. I earn RM 4,000.00, UK earn 2,000.00 pound after reduction of 43% tax. The 2,000.00 pound X 5 = RM 10,000.00 OK! … so RM 10,000 to RM 4,000.00 how? Is petrol expensive if you earn and purchase the petrol here in Malaysia? Fikir dulu..
This is the common excuse used by the politicians to fool malaysian. Wonder why zhen dun know the actual face?
MALAYSIA
1. petrol = mahal & will ongoing increase
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7. Gaji = tak naik…kalo naik also ciput-ciput
8. 2019 = Negara bankrupt
9. Hutang negara=rm356billlion ringgit(Berita mingguan.ahad 30.5.2010)
10. Gomen’s project scandal keep on surfacing.
11.
please everybody, list the others
current gov debt..RM362.4bil..
maybe debt for Sukan Komenwel ’98 still incured in there..haiyoo
luckily got my cbu car for 3.1% at 3rd week of may 2010…initially nego it for 3.0…but only manage to get 3.1%
It is time to save up ur money. Buy cash and f the bank.
walaupun HP interest naik…kadarnya antara yg terendah di ASEAN dan zimbabwe..kita kena bersyukur dpt hidup di malaysia!!!
ayyooo.. dont compare malaysia with zimbabwe laa.. compare malaysia with burundi, ethiopia, congo.. more realistic. want to compare with asian countries also not realistic anymore
Guys, what ever you try to calculate, the bank still win…so to people do not tahan with 5 years loan, they choose in 9 years but definitely will be suffer much I told you guys…108 months…argh…
Waalauuuuuuuuuweeeehhhhhh.. naik ka?? huh…. keje lain takda.. minyak mau naik.. ni intereset naik.. mampuih laa.. anyway just wanna share.. i own iswara keter kebal – the interest rate 2.9% ermm.. ok la gak.. but ingat nak tukar keter Nissan Serena – 1997 yang lama tuh.. around 30k somethin.. any idea which bank yang boleh bagi 90% loan dan interest rendah tak?? pening pala ni.. tengok semua dah naik.. keter dah sempit la kalau dah balik kampung nanti.. ni lagi beberapa bulan mau puasa.. pastu mau raya! aaaaaaaaaaahhh stupid G~
why not try starex..
Control the release of loan..if not can become like US or Greece.
For Gov servant dont worry meh, can repay up to 12 years.haha.funny.
Some can go up until 15 years i heard recently.
Kerja lembab, berlagak, gi kursus je abehkan duit.
Penat aku je bayar tax.haha
Tax imposes to cars(especially non-national) already radiculous, needn’t to say now the increase of interest rate. changing a car or think of owning a car now is like a dream for rakyat.
What is the bloody justification of this hike? V ar going to suffer with the hike in petrol price. now this?
well even after interest hike and will be increasing another round by this year ,the people will still buy because no proper transportation facilities. The coming car sales are going to be record high soon coming July this year.
I’m wondering how come still can sell so many cars a month and buyers not affected.
perhaps “Leasing” cars would be a better option these days than buying cars…then again we don’t have that concept here :(
It’s unfair for non national car interest rate to be lower than national car interest rate.
It should be at the same level. After all its a vehicle on the road, nothing different!
The only way for the interest rate to go down is for another election!!
It’s interesting to read what Thomas Jefferson said in 1802: “Banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.”
chinese saying, poor people eat cheap rice, rich people eat expensive rice…
Fat people eat to much rice!
Same like Malaysian,when they got a lot of money,they enjoy like hell,
but when they finish their money,they blame govt because of they say price for food bla bla so expensive bla bla
Typical Malaysian!
bro.. u dont have ambition aa? settle for mediocre life is it? some ppl do have dreams to achieve but it remains a dream cuz the shits that happen in malaysia. so dont blame them for babbling.
Ambition is good, but most Malaysians dream are Mat Jenin dreams. If not how come get-rich-quick scams are abound? Malaysians who work for a living want to work less but get paid a lot of money, while Malaysian businesses want a lot of money but low cost, which is why salary in the private sector remains stagnant. So how? If people are much more reasonable things would be much different. Businesses, why you need to take 100% profit when just enough profit is good enough, still profit what. Or why can’t you pay your staff more and share the wealth? As for workers, why you’re having this go minum teh mentality when you’re supposed to go work during working hours, sit around talking cock and having no work done? Then complain when your salary not “enough”. Then blame everybody else but yourself. How can we move forward if we don’t change things ourselves, be more productive, be less greedy?
hello… we malaysian got money we enjoy makan like hell to boost the economy ok rather than go pasar pagi beli daging sayur masak rumah untuk jimat and all the restaurant ourside can close down and kaput.. then economy drop, your salary drop, pants drop, shoulder drop, face drop, eye drop, whatever drop you will face.. so will you blame the government then? we must spend local restaurant to help rolling the economy and please cut down travels to other country, as we are taking money out and not money in. We are holidaying in other country too much actually.. I’ve cut down my Thailand trip from monthly to twice a year… so country can sustain the currency internally by not going out to other country.
Hahaha *thumbs up*
everyday eat cheap rice.. boring maa.. sometimes want to eat good rice also. dont u?
I got my smart forfour at 2.75% back in 2008. My bro got his Nissan Navara at 2.8% last month. Anything higher means bad news for car dealers and new owners.
Is time to change new G from the coming election
What has interest rate got to do with which party govern Msia? I’m more worried if G start meddling with BNM policy..
Higher interest rate maybe bad for comsumers but good for savers.. we shd get better rate for our FD and maybe our EPF too. There are always 2 sides of the coin..
Unfortunately they only see the “BUY” side of it, not the “SAVE” side of it, which goes to show the sad truth that Malaysians are a bunch of spenders who often spend beyond their means. When it comes to savings, not much.
Minimum salary for all sector haven’t even inplement, things start to increase 1 by 1… very good! Next election…. NO MORE BN!!!! BARISAN NASIONAL, YOU’RE GOING DOWN!!!!
yeah.. vote for DAP. surely price goes like rocket.
increase in interest rate is one of the reason i booked a new car late last month. submitted loan before the increase. got 3% from affin bank but not approved yet. i got 80k loan so that is 2K savings compared to 3.5% for 5 years tenure
if interest increase…..does it means our economy getting worse??? please advise. :)
people will buy car…sure….bcoz they do not know the interest already increase. hihi
Why buy new cars then?
I will drive mine for the next 10 years.
Unless the government makes another bonehead decision to scrap my car.
They have already ding’ed my cars an extra 150 each this year due to the lack of 3rd party insurance.
I was planning to buy a new car. Well…s*** just happens. Have to cling to my almost 9 yrs old waja for several more years.
I’ve recently booked NHC at 3.2% on 5th May. It started when the SA at Imavest was competing amongst each other for 3.2% MBB and 3.25% for RHB, where other banks were offering 3.5% at that time (they claim they know the bank officer that could provide lower rates). Since my office was nearby RHB HP Loan Office (next to Prince Court Hospital), I personally went there during office hour, hoping to ask for 3.0%. Finally the loan exec offered me 3.2%, which is no difference compared to MBB.
I believe you can still squeeze 0.05% less or even a little bit further, if you really2 know the right person to contact. 0.05% might not be that significant, but it’s still money to me. Try to get the loan yourself (instead on relying too much on the SA) and you might be well rewarded!
Ishh, No appetite to change car alredi. Even RM50 to RM100 p/mth looks not much, but when u times no. of mths of instalment, very huge sum also. Cost to own car in M’sia really very high – instalment, petrol, service, road tax, insurance, depreciation. The car price in M’sia should be go lower. Hey, remember petrol price going to go up soon, insurance premium might come next.
buy ex5 la.. much cheaper.
No need to buy your car. Join the govt as civil servant, and drive the govt car/vehicle, get free petrol and can bring family jalan-jalan…..beli sayur, pindah rumah with the car…No need to pay for maintenance…heheheheh
This is what my colleagues told me…..
Salam…
Get your facts right bro mati katak…:)
BTW…I bought a 5 year old second hand Nissan X trail about a month ago with 6 years loan loan from Public Bank Islamic for 4.0% interest. I guess it is still ok, isn’t it? Heard that to date the rate has gone up to something like 5.0 ++%…
slandering is a crime….
No matter how high the interest rate is..i believe people still buy the car as it is a necessity..unless you are stubborn/patient enough to use a very poor public transport.
I was thinking to buy a new car early this year but I just couldnt accept that i lived in malaysia where the car prices are damn expensive. got to settle with my 8 years old waja…stil serves me well
Nope, you are wrong.. Of course there is still some people will buy car at this rates but I work in car industry, my company showroom is packed with daily visitors to empty. Friends who worked in BMW got 7-8 bookings last month, 25th May until now is 1 booking.. he is top sales and this is happening..
Die lor… makan roti liao
Hi All, I was just looking at the new interest rates posted. Can anyone tell me why the rates are cheaper if you want to buy a non-National car please? Should it not be the reverse case? Many thanks.
BN making their last attempt to dry up our coffer before next GE?
its very saddening to see how many people scrutinize the gov without acknowledging its achievements
it is puzzling to me how can we as a country move forward if we have such pessimistic people in our population and only think about the bad things that happens.
if your not happy just dont vote for the gov that is in power now
PS: im not a politician or anything im just a student
i love Malaysia
“dont vote for the gov that is in power now”
But some people just don’t bother to vote at all ?_?
hello! product of the kepala lembu school of thought, loving malaysia is different from loving the govt of the day. malaysia is not bn and bn is not malaysia. what level of study are you at? i dont see any optimism in you comment at all so why do you accuse others of pessismism? god help u when you have to buy a car to commute to work because this govt has only paid service to improving public transit and FAILED to actually improve it!
what exactly has this govt achieved lately? other than flip flop on rokok pack sizes and trying to buy off ppls in kampungs during by-elections?
dickybird, relax and chill la.. sometimes people blend them together without prejudging the whole scenario while we have some assumption in our mind the our G is becoming more senile.
Seriously, we all Malaysian / Tax payer / 1 Malaysia kid / Patriotic / or whatever la.. we all love to have a fair bit to what we are facing.. the real fact is that things just keep increasing 1 by 1 and the only stagment is our Salary which don’t increase at all and sometimes just increase 5 to 10%. For example, you earn RM 5000.00, your EPF and tax contribution is RM 550 for EPF and RM 150 for tax and total reduction is RM 700 which become net salary of RM 4,300.00. You got 10% increment and your new salary is RM 5,500.00 and your EPF and tax contribution is RM 605.00 for EPF and RM 200.00 for Tax which come to total of RM 805.00. so your net salary is RM 4695.00 so you get differents of RM 395.00.. so for this extra money, Is it going to help alot in those things that has been increasing all this while? LEt me tell you guys my day story
I am a smoker since 13 years old and when at that age, the year is 1996.
Marlboro red 20’s = RM 1.60
1999 = RM 1.90
2001 = RM 2.70
2002 = RM 3.60
2004 = RM 5.30
2006 = RM 6.30
2007 = RM 8.20
and now = RM 9.30 and banned 14’s
Roti canai last time RM 0.60, now, RM 1.20
Roti Gardenia small loaf last time RM 1.30, now RM 1.90
Semangkuk mee last time RM 2.20, now RM 4.00
1 can of Coke last time RM 1.20, now RM 1.80 to 2.00
Mixed rice (1 meat, 1 eggs, 1 sayur) last time RM 2.30, now RM 4.00
Satay 1 stick last time RM 0.30, now RM 0.60
KFC snack plate last time = RM 5.90, now RM 9.00+
1 Steam bun last time = RM 0.40 and now RM 1.60
and many more.
Single storey house last time RM 100k+, now RM 190k+
Double storey house last time RM 200k+, now RM 200k+ is far and RM400k+ is near
1 can of beer = RM 3.90, now, RM 6.80
So much of a increase.. I use to monitor the economy and monitoring the price increment, we have all been paying much much more now, the only thing that the rakyat did not get a smile is the salary scheme in Malaysia. There are still people earning RM 800 to RM1k a month and G is not putting a hand in it but to put the hand in the govt servant telling us that is because they serve the country…If thats the case, increase our salary too, we serve the country too.. by contributing our salary into daily groceries, buying PROTON cars, pump PETRONAS petrol, EAT and COOK with MALAYSIA’s finest Palm oil for frying, Voting during the GE as a Malaysian, Beli barangan buatan Malaysia dan sbgnye.. Don’t we malaysian contribute too? talking about fairness, G got no say on being FAIR, but to put at its best, Please the poor Rakyat like me, maintaining my precious PROTON also got to think twice for 2007, now got to think 10-11 times whether to maintain or sell and get a EX5..
Seriously, I’m getting fed up being a patriotic Malaysian, when voting, im dumbfounded who to vote for, spending at minimum cost, drinks become homemade, breakfast with water and all.. and at the end when you can’t any this pleasure i’ve mentioned at Malaysia, Time to emigrating already.. somewhere can provide me all the above.. thats all.. Thanks to all bloodsucker in the G, it’s time to suck your blood back!
2005
jst got Affin bank approval 3% for 7 years loan on 1th June 2010
So sad! Just back from Mitsubishi showroom and thought about to purchase a Lancer. What’s wrong with Malaysia!!? Everything up…. except salary!
I don’t believe the possibility Malaysia would achieve developed country status in 2020 but rather believe this belove country would banckrupt in 2019 as told by idris jala.
Inflation Inflation Inflation……
Wish everybody luck.
If malaysia goes bankrupt what’s next???
Thank god I god my Mazda3 at 2.9% just over a month ago….
Well, my original plan was to finish paying off my wife’s car (which i did yesterday…YEAH!!) then I would reward myself by trading in my 2002 Wira aeroback 1.3L for a Forte. With this latest hike and the rate hikes in the coming future, it has really turned me away from my plan. I guess I will just have to be content with a new coat of paint instead of a new car.
yeah.. pity us bro. doing the same for my 1997 wira. perhaps gonna use it until the next economic crisis when interest going down again.
I don’t really understand Malaysian,they say a lil bit increase in the loan rate kecoh like hell,but there are a lot of malaysian out there who are wasting their money on cigarettes!
So to the smokers out there,wanna save money,stop smoking!
Stop spending money on expensive food in old town,and many more…
Since I don’t smoke, Can I complain and “kecoh like hell”?
*1 like*
I smoke.. so when the cigarettes increased.. we all smokers got so pissed off and we kept in our heart.. but seriously, we cut down from 20 packs a month to 15 packs.. and when it rise up to RM 9.30, we are now smoking 10 packs a month only.. cut down lor.. so same goes to buying car lor.. when interest at 2.8% 10000 registration.. 3.2% 8000 registration.. 3.85% maybe 2000-3000 registration or less??
When our Ringgit Malaysia (RM) is strong, normally you will see BLR in banks is increased, substantially when we stand on our strong Ringgit, BLR, Fixed Deposit Rates, Saving and Current account rates will rose up a little bit and generally interest rates for credit card, food, and imported tax will do down.. so generally all the items you are going to buy at the supermarket or food that you are going to eat in local mamak or restaurant should go down but it is not as we have no control over the consumer rights.. So as a normal earning RAKYAT, we face this difficulties in coping due to increase of BLR but the salary we are earning has no increment, we have tendency to spend less, blaming the government and eating less due to this situation. Government is the hot topic as MALAYSIA have no control over the market for consumer goods, but practicing the behavior of the western. In UK, price of petrol fluctuate up and down follow by the market, car follow by the popularity of the car when u are buying insurance, food that is in supermarket have further discount if the price goes down. for instance sugar, when the commodity of sugar in UK goes down due to low consumption, chocolate bars, coffees, or any sugar product will drop by doing bundle e.g. buy 1 at 1.99 pound, buy 2 at 2.99 pound. So in our current situation is wait for the government to act on something and we face it, if we can’t then we jump down the building lor.. Simple.
perhaps u r not malaysian.. unlike u, most malaysian dont have silver spoon in their mouth.
wtf, it’s an advice for people to look into themselves and reflect whether they are prudent.
Some people can survive with RM50/week on food. Some people RM150/week is not enough. Guess which type of people will make most noise when interest hike?
I booked my NHC in August 2009 when the interest rate was 3.5% for 9 years loan. The bank had approved my loan, but some hanky panky car salesman caused my car delivery delayed until March 2010, & my loan application had expired & had to reapply. Luckily, the same bank approved my new loan app with the interest rate of 2.72% in March 2010. But if i delay my purchase until now…haiiyaa..3.85% for 9 years loan would be quite a burden….thank God…
“ada hikmah di sebalik setiap kejadian”
My current old kancil n Citra are good enough for me and my family. So I don’t think to spend more money just to get a new car especially when looking at the current economic situation. Spend our money for our requirements not for our desire.
Well guys, i guess alot of readers here say wont buy a new car etc but in reality those majorities out there dun read or post comments here will just continue to buy, do you guys know all major Jap carmakers have over capacity of production as of very high orders with some up to 45% increase in volume frm as little as 25%, Vios for example is hitting more than 3.1k +a mth in june/july frm just 2.4k. perodua also about 40% up,honda about 40%,toyota also about 45%.
Yes and no.
Consumers will collectively re-think their decision to purchase a car (or purchase a cheaper car than otherwise) after the interest hike..regardless of being a participant here or not. They can all equally use the calculator.
It would shift the demographic to move to smaller cheaper cars, even if the interest for local cars are higher. Score 1 for proton and perodua.
I’m sure we wont hear the whole story yet. I’m sure plenty of marques will offer subsidized interest especially those with thier own financing arms.
For me I will continue to buy 2nd cars for cash so this isn’t really going to effect me much (other than perhaps increase the prices due to more doing the same)…i like to have depreciation discount the cost of car ownership for me.
This is good news. That shows our economy is growing and more ppl could afford expensive cars in spite of the interest hike. We will soon become a high income nation!
thts the problem here, the buying neva stops & stupid govt just takes advantage of tht by increase it all the time and tax more . the people are not affected and still feeding them!!
no problem,,i will still buying new car in next year…. not a matter…
p/s please dont translate my comment as “yeah,,,i support the current gov” ….i hate crazy people in paultan.org who always think of either bn or pr….
We as Malaysian are not complaining.. It’s bad enough that the govt wanted to abolish all those subsidies in order to save cost. As if the living cost is not high enough these days. So by saving subsidies, can they guarantee that the money is put into good use instead of going into someone’s else Swiss acc? I wonder.. Those tax and import tariff for non-national cars are just like advance on the tax + subsidies to them. But will they ever reduce it? Don’t think so lah.. Our national car has to be protected at all cost, as it’s something like a cash cow to the govt. To think that proton has been around since 80s & still need our govt to protect them :P let them compete in free market and see how they fare against those juggernauts.
Do anyone knows the price of proton persona in the UK?? You’ll be surprised to know how much our govt profit from us not only through non-national cars but also our very own home brand :)
Hei guys, dont u all felt that some people here is using a few nick that always repeat Selangor issue? Why they never talk about others rather just Selangor? U just make urself like dogs to current G.. If u dont like Selangor just move to other places.. Like what ur people like to said: “Kalau tak suka keluar dari sini…”
hahaha..so true!…selangor were much better right now compare to 3-4years ago..water gonna be return to people..corruption element gonna be rid no matter who you are..juz ask Khalid Ibrahim..right now his brother is being investigated bout sand biz!
Selangor govt is just a different side of the same coin, no different than the ones before. Double-faced liars all. Malaysian politicians are useless!
lucky din wait 4 my car 2 finish its loan on june. decided 2 settle earlier in april & hunt 4 a recon car. no stomach 2 even look at national cars due 2 previous horrible experience (read: burned clutch in 6 mths…WTH?)
by may-end already driving a new car :)
the rate i got? 3.1% for 7 yrs loan…hepi edi, no g’tor summore :P
I love Me’sia. Thats why I willing (due to no choice) to “give” my hard earned living to the government through the listed items below. Thank you G.
MALAYSIA
1. petrol = mahal & will ongoing increase
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7. Gaji = tak naik…kalo naik also ciput-ciput
8. 2019 = Negara bankrupt
9. Hutang negara=rm356billlion ringgit(Berita mingguan.ahad 30.5.2010)
10. Gomen’s project scandal keep on surfacing.
11. RPGT…dulu ada…lepas tu tak dak…sekarang ada…macam chipsmore…
Looks like I’m stuck with my viva for awhile more.
AYOOO!!!!!!!!!!!! EVETHINGS GO UP….MATI LA CMA NIE….YANG KAYA MAKIN KAYA…..OUR SALARY BAGI KAT DEPA….LEPAS NI GST
LAST YEAR PETROL NAIK RM 2.70 BANAR PUN NAIK…WHEN PETROL TURN 1.80 ARGA BARNG CAM TU JUGAK TAK TURUN…LEPAS NI PETROL NAIK ARGA BARANG NAIK LAGI…aDUIIII MAMPUS LA….
Anyone know about 2nd hand car loan rate?
as said, we gota be together to stop buying cars so the automotive will make adjustment price since its a controlled market, it wont be the more you buy, the cheaper it is.
Similar to EON, since it’s basically squeezing all Proton buyers as they have no way to go. Help the poor? My ass la.
besides making noise here, wat do u think we as m’sian can do?
how to go on lettin the govt only gain more n more but always squeeze rakyats, when economy go down we suffer by paying more of everything but when econ goes up/improved we get nothin but they dun suffer
Back in December last year, I got a Maybank 3 year car loan for my Kia Forte 1.6 sx at 3%. My friend who bought the same car in P.J. but only paying 2.75% for his loan from a different bank. I know I had been short changed by the S.A. of Duaria but I only had myself to blame. So, go shop around and compare the deal, “tarik harga” a bit until you get a better offer.
not surprise at all. gov will squeeze its people till the very last cent of their hard earn money.
then come to a point of time, apparently before election, the gov will announce to reduce the interest %, increase petrol subsidy, control toll rate etc… then it’s people will FEEL and SHOWERED by its “MERCY” then continue to support current gov.
then the same cycle repeat again and again…
Quote from Barack Obama:
Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for. We are the change that we seek.
my first car is national car in jan 2000. the interest rate was 6% for 5 years..
then, in 2005, a non national car came to my life, 2.6% for 8 years,,,now 3 more years to go…sighh,,,,,looks tht i have to rethink of owning a non national mpv soon….
maybe can think about Nissan Grand Livana
yup true…but my aim is odysey…sighhhh
HP interest rates should not bias on national or non national cars by merely based on default risk perception. Our cars already priced with extra hidden tax duties and to factored it into HP rates it is double-charged the car buyers and ends up repaying the car fully at 1.5 times or more but the car scrap value then lucky at 0.5 original price. Thats why, HP rates must applied on actual non-tax duties price only while the car duties repayment is interest-free, so car loan repayment consist of interest and interest-free items. This is more fair to carbuyers but will the govt able to reveal ex-factory price plus the hidden car tax duties each? Heard that Persona Gen2 Waja sold in Saudi Arabia all around RM36K only so if here just how much rakyat kena tipu double-charged already!
boycott our car industry until they cannot sell walau satu keleta pun…then all AP King, protong and perutdua will die…after sure they will reduce interest rates maybe 1%..hehehe
How about Naza & Inokom, that also local car meker
I just bought a Triton.
Took laon for 3.2% for 5 years
MALAYSIA
1. petrol = mahal & will ongoing increase
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7. Gaji = tak naik (because company cut budget)…kalo naik also ciput-ciput
8. 2019 = Negara bankrupt
9. Hutang negara=rm356billlion ringgit(Berita mingguan.ahad 30.5.2010) will increase till bankrupt
10. Gomen’s project scandal keep on surfacing.
11. Kabinet = member imcrease (bigger kabinet)
12. Our earth – tempreture increase
13. JPA = total staff increase
14. Road = traffice jam increase
please everybody, list the others
Pekerja Gomen masih banyak lepak2 – p tengok kat kedai makan pukul 9 pagi. Sampai pukul 10 pagi pun depa masih tak berganjak.
MALAYSIA
1. petrol = mahal & will ongoing increase
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7. Gaji = tak naik (because company cut budget)…kalo naik also ciput-ciput
8. 2019 = Negara bankrupt
9. Hutang negara=rm356billlion ringgit(Berita mingguan.ahad 30.5.2010) will increase till bankrupt
10. Gomen’s project scandal keep on surfacing.
11. Kabinet = member imcrease (bigger kabinet)
12. Our earth – tempreture increase
13. JPA = total staff increase
14. Road = traffice jam increase
15. Sime Darby = losses increase
16. Proton = profit increase
MALAYSIA
1. petrol = mahal & will ongoing increase
2. kereta = mahal
3. interest = mahal
4.sparepart = will increase
5. toll mahal = mahal, and will increase
6. Public transport = no access, slow, lembap,
7. Gaji = tak naik (because company cut budget)…kalo naik also ciput-ciput
8. 2019 = Negara bankrupt
9. Hutang negara=rm356billlion ringgit(Berita mingguan.ahad 30.5.2010) will increase till bankrupt
10. Gomen’s project scandal keep on surfacing.
11. Kabinet = member imcrease (bigger kabinet)
12. Our earth – tempreture increase
13. JPA = total staff increase
14. Road = traffice jam increase
15. Sime Darby = losses increase
16. Proton = profit increase
17. Kroni = untung besar (duit subsidi bagi kt kroni kononnya untuk tujuan pembangunan)
Just sign the HP offer letter today. I received the call from the honda salesman and toll me to place the booking by this week to avoid the high interest rate.
Import car = high tax
National car = high interest rate
Conclusion == jangan beli kereta
If car loan interest going up, will interest for fixed deposits, dividends/profits for ASB, Bank Rakyats, mutual funds etc. also go up?
Actually i dont understand why we are fond of changing to new cars in Malaysia. There are plenty of second hand cars with excellent condition if you dig the second hand market. You can drive a Mercedes or Beemer at reasonable price except maybe its a bit outdated. But if you are into performance rather than looks, you are very satisfied person driving a second hand car. And there’s plenty of under utilised second hands that i am shocked to find branded cars hardly used by first owners. Maybe there are segment of owners who only interested to be first SEEN driving the latest cars. Coming back to interest rate, Bank Negara has no choice but to increase BLR to attract foreign investors.
increase BLR to attract Foreign investors?? its the other way round la Elvis, drop the BLR, foreign investor see GOLD and invest.. not when the fruit turns sour and only invest.. Wrong move.
Second hand car is good, but you just got to face the fact that the car sometimes doesn’t come with real mileage and needs of changing lots of things already.. I bought a second hand satria 2005, problems persist and spend around RM 8000 for repairs.. bad move too..
People succumb on new car because hassle and problem free.. thats why..
Honestly, i dont see why we need to worry about increase in interest rate, different banks will be offering discounts and promotion interest rates if u buy certain cars. I.e Kia is offering 2.99% for 9yrs in some showrooms, just got back from Naza Klang, asked the salesman about the interest rate hike and he said nothing to worry about as dealer’s will come up with some sort of negotiation with banks on interest rates. At the end of the day, it all depends on how far you would go to search for some bargain. Even met a salesman at the hypermart doing some roadshow yesterday on proton, interest rate is still 3.85% for 9yrs under Affin.
Yea
I agree with rocket
last time my mom’s sales person can bargain for interest rate
he got 2.89% for his bother
he also offer my mom but he need some details and fact to bargain
such as ASB statement, Bank Rakyat simpanan tetap . .
mine is 1.75% for 7 years from Maybank Apr 2009.
i buy a toyota car. just after the week my loan approved, the interest goes up to 2.8%.
i wan buy proton saga .. can i know the low interest rate now ?
i wan to buy asap … which bank got offer low rate is nice ….
Gosh.. public bank loan service sucks. I only taking rm20k car loan but 4 days already also no reply. My records spanking clean. My colleague take from maybank only 4 hours approve already. Whats wrong with public bank.??