Honda Malaysia (HM) has announced that the Honda City is now available with a 100% loan. That means you can drive away the popular B-segment sedan with RM0 downpayment, compared to the usual 90% loan, 10% downpayment norm.
Partner banks are Maybank and Bank Muamalat, and of course, you will have to first qualify for the loan. No mention of the City Hatchback, so the deal should be for the booted one only.
In HM’s “Last Call Bonanza” monthly promo for October 2023, the City comes with RM1,500 off. Normally, it’s just cash rewards, but as we’re now approaching the year end, the LCB mentions a bonus in the forms of service vouchers, low interest rates and petrol vouchers – enquire at your Honda dealer.
There’s more – those who are going for the City E and V will get free Ecotint window film worth RM2,200, and this variant-specific offer is valid from now till December 31.
Zero downpayment, discount and bonuses, free tint – sounds like the best time to get a City if you’ve been thinking about it. Spec-by-spec comparo here.
GALLERY: 2023 Honda City e:HEV RS facelift
Looking to sell your car? Sell it with Carro.
People looking for second hand cars should monitor this. After festive season, at the second quarter, you will get many good deals from this.
The more loan defaulters The merrier Insolvency gets high turnover cases.
If you can’t afford downpayment, can you afford the regular service required?
Reality is.. How else people get to drive something other than local cars?? Cant go on for the rest of your life driving Bezzas and Myvis… Have to sacrifice your expenses and hope along the way, you can afford the maintenance… Have to take risks if you want to drive proper cars
Why do you even need to drive non local brand? Buy an Alza, basically a Toyota with 99% all the way from a 100k car, cheap and will fill all your needs.
The more liability loan defaulters The merrier insolvency gets high turnover cases
yes you right. but, the one who take zero downpayment can use the downpayment money for service. regardless zero downpayment or 50% downpayment when you go to service, the price is same. zero dp for below 100k car imho is good offer, since the dp money you can use for another investment like asb, public mutual, etc. rather than you spend sum of money for dp only. in year 5 or 6, you can sell the car and get many rebate from bank for early settlement.
Is your regular Honda City service rm9000? Sometimes its best to not say anything so people cant judge your level of intelligence.
NO WONDER PEOPLE CAN DRIVE BRAND NEW CARS, WITH 0 DOWNPAYMENT, 100% LOAN FOR 9 YEARS AT 3%
SAY RM90,000 LOAN AT 3%
INSTALLMENT PER MONTH RM1,058 X 108 MONTHS
= RM114,264
TOTAL INTERESTS
RM114,264 – RM90,000
= RM24,264 (9 YEARS)
= RM2,696 PER YEAR
= RM255 PER MONTH
RM114,264-RM90,000
= RM24,264
= RM24,264/RM90,000
= 26.96% OF INTERESTS
Hahaha.. You went one big circle to calculate your own assumptions and still ended up with the wrong figure due to rounding errors along the way.
9 year loan at 3% -> 27% of interest. Tough math this.
3% per year…ok what….lower than saving account dividen
3% per year for car loan (based on simple interest) is actually around 5.60% – 5.70% based on effective interest rate.
The amount of people who do not know this is astounding!
LOL! You think banks are a charity and would give you a lower actual compounding interest rate than the current FD rate of 3.5-3.8%?
Just take…..9 years x 3%…..u get 27%….
Why so long calculations?
3% p.a. x 9 yrs = 27.00%
26.96% is average 9 years interest Rate
The first 3 years Interest Charged / Outstanding Loan Balance Ratio == Lower than 26.96%
The Lastt 3 years Interest Charged / Outstanding Loan Balance Ratio == ALOT higher 26.96%
clear stock before S70 launching…
It’s okay, you can rent for living an 11th floor flat residence. But a Honda is a must, here we help you fork out your money to us. So you can flood this car at residence parking spaces.
With how many broke a$$ Honda fanboys and fangirls in this country, this bait will definitely work very well lol. What a B.S. scheme by Honda M.
imho, if you can’t afford the down payment you can’t afford the car
Eating Maggi will be the norm for these people who opt for this loan.
Wow, become true japenis driving japenis car, eating noodles like japenis!
Now all B40 can drive a City
It is not a good thing for 100% loan. If people don’t afford to pay a min 10% down-payment they should not buy the car in first place. Young people do not know managing their financial well. This kind of offer will drag them into trouble. Most young bankruptcy was due to car loan.
Feels like this shouldn’t be allowed, as it encourages bad financial decisions. The reason for minimum 10% downpayment is to filter out people who can’t really afford to own certain cars.
Make all car down payment minimum 20% regardless of price!
then many cant afford to buy a car, even axia.
If you don’t have 10k savings as DP, you shouldn’t even be driving a car.
If you don’t have 10k saving after DP, you shouldn’t even be driving this car.
Kosong your bank just for car DP is dump.
Rolls Royce Cullinan 9 yrs full loan how much then??
Need to impress my downline goons and fool gullible pensioners.
Cars depreciate. If you know, you know. End of story ✌️
Bloody expensive small car.