The paultan.org Electric Vehicle Expo (EVx) is happening this weekend, and the electric vehicle showcase is into its third edition that will be taking place at the Setia City Convention Centre (SCCC) on July 20 and 21. Co-sponsored by Carro, Gentari, RHB and JuiceUP, EVx is the place to be to learn about all things EV in Malaysia.
As a strong supporter of sustainability, RHB encourages the adoption of sustainably-powered vehicles through a complete financing solution by not just offering competitive fixed rates as low as 2.00% p.a. , as RHB also offers RHB Vehicle Financing-i, which is a variable rate financing scheme that offers low initial rates with a range of benefits which car buyers may find appealing.
Among these is the variable financing package, which is uniquely appealing to some car buyers because the profit charges – commonly known as interest payable – is calculated based on the daily rest and reducing balance method, which is similar to current home loan financing.
This benefits the car buyer if they have extra funds available, or they plan to repay their financing ahead of ahead of schedule, even one day earlier, as the extra payments made will reduce the principal amount, thus reducing profit charges to their financing. As fixed rate financing is common for car loans, many might not be aware that variable rate will offer you such flexibility and full control on the total profits chargeable by RHB towards new EVs.
At present, the current calculation method for Fixed Rate is the “Rule of 78” where a larger portion of the monthly repayment goes towards interest rather than reducing the principal balance. The CCOB Task Force proposes amending the Hire Purchase Act 1967 to prohibit the use of the Rule of 78 for interest calculation and to adopt the reducing balance method instead, which is what RHB Vehicle Financing-i is already offering its customers.
A full range of EVs will be available for EVx 2024 visitors to browse, from Mercedes-Benz, BMW, MINI, smart, Kia, BYD, Chery, Lotus Cars and MG, with exclusive new car previews and test drives of various models in store. Kineta and Trapo will also be present at the event.
New to the world of electric vehicles? EVx 2024 is a great place to have your vehicle charging and infrastructure questions answered, as stakeholders such as EV charge point operators (CPOs) and related agencies will be ready to field any queries you might have. From now until December 31, 2024, any successful financing of an EV or PHEV from RHB will enjoy complimentary charging credit worth RM210, so make sure you don’t miss out!
There’s more – place a booking on a new car at EVx and you’ll receive RM1,500 worth of vouchers – a RM500 voucher for auto window film (V-Kool), RM500 voucher for car mats (DodoMat) and a RM500 voucher for personalised and customised leather seats (DK Schweizer). Better hurry, as these vouchers will only be given out during EVx on July 20 and 21 and are limited to the first 100 new EV bookings.
EVx 2024 is set to take place at the Setia City Convention Centre on July 20-21, and admission is free. See you there!
