The Best Rate for Car Loan for Now (July 14)

[putaqela]

Hi, all,
Anybody know which bank is offering the best rate for car loan as for now (July-August 14)?. My friend told me that RHB Islamic have the best rate (2.4+). I already asked the salesman to submit the application, but it seems like their respond is very slow. Until now, nobody call me. Maybank has the fast respond and already approved the loan, but i'm still looking for the best rate. Thanks in advance.

 

[Supra_Fanatics]

Hi, all,
Anybody know which bank is offering the best rate for car loan as for now (July-August 14)?. My friend told me that RHB Islamic have the best rate (2.4+). I already asked the salesman to submit the application, but it seems like their respond is very slow. Until now, nobody call me. Maybank has the fast respond and already approved the loan, but i'm still looking for the best rate. Thanks in advance.

2nd hand or new? If new, if I recall correctly proton has highest interest rate. Their interest rate is higher than any other imported cars.

https://ringgitplus.com/en/car-loan/#

 

[DanzEterna]

it depends on wat car are u buying, loan tenure & amount.
every bank has slightly different rates, for my case its not which bank provides the lowest interest rate, its which bank can
approve my loan since I have a "not so good history".

 

[Supra_Fanatics]

it depends on wat car are u buying, loan tenure & amount.
every bank has slightly different rates, for my case its not which bank provides the lowest interest rate, its which bank can
approve my loan since I have a "not so good history".

For buying too many nice cars history haha!

 

[gunnerzz]

Hi, all,
Anybody know which bank is offering the best rate for car loan as for now (July-August 14)?. My friend told me that RHB Islamic have the best rate (2.4+). I already asked the salesman to submit the application, but it seems like their respond is very slow. Until now, nobody call me. Maybank has the fast respond and already approved the loan, but i'm still looking for the best rate. Thanks in advance.

I'll be honest with u, most bank dont waste time to process your application if they know that your application is already approved by another bank. If u r lucky then u might get a better offer.

Submitting loan application to too many bank does not portray a good perception to the bank officers. If u are a priority customer of a specific bank then go back to the bank for financing. My advice is just give a quick call to the bank u preferred and ask. There is no guarantee u will get what the person offer. I admit RHB offer 2.4 but there is no guarantee.

With any loan or financing, the most important stuff is the fine print, interest rate comes 2nd.
0.1 to 0.2 bps do justify the saving in long term. However, does the ease of payment or convenience justify the saving?
Let me share with u a real life story, i was a banker and was processing a housing financing application of a customer whom purchase 2 unit of house. Both my bank and a competitor had financing for both unit approved. My bank offer Bfr-2.20% and the competitor offer BFR-2.40%.
0.2 bps is significant esp in the long run but the applicant still sign with me, why?
Its because the overall package.

 

[radhie]

Affin bank 2.6%

 

[satria81]

putaqela.

I would suggest u to visit the banks that has been shortlisted by yourself.

speak to someone from the leadership and ensure you get a good deal as it is a long term commitment