Good In house Car loan

[Darevil]

1st day of Register

1st Post of self advert. Even give URL. Haha.

 

Ownself praise ownself. hahah

 

 

but back to topic. 

 

Theres a reason why some people need in-house loan. and whatever the dealer charges you for extra fee. Needless to say. 

In short : He help you, You help him.

[JiroWang]

UOB 2.5%

[Metalslug2]

heard banks dont do coe renewal loan

[Yymail22]

What is the typical in-house loan interest rate like at present?

 

Thanks for your input!

[walkofwinners]

Kia/Hyundai lowest was 1.98%, suzuki was 2.18%.

[usedcarlobang]

Can I get a loan for a used car with less than 1 year to coe expiry? 

[Hoseyboh]

Can I get a loan for a used car with less than 1 year to coe expiry?

You can try Dickson Auto. My direct car buyer got a loan thru them. He bought over my car with 9 months COE left....

[wongykang]

just got tokyo leasing loan at int 2.98%

thanks for recommendation

[Bedazzled6]

We do not have a pleasant experience with inhouse car loan especially from F S Credit at 3 & 3A Jalan Mas Putra hence it is highly not recommended. It was very pressurized during the first meeting and we ended getting a loan there as we have signed on unfavourable terms. When we wanted to cancel, they asked for $500 fees for the time spent or full settlement of the loan. Do not feel pressurized. If you do, just walk away and do not sign any documents. We want to share this and let our voice be heard so that others can learn from our experience.

[silvias13]

We do not have a pleasant experience with inhouse car loan especially from F S Credit at 3 & 3A Jalan Mas Putra hence it is highly not recommended. It was very pressurized during the first meeting and we ended getting a loan there as we have signed on unfavourable terms. When we wanted to cancel, they asked for $500 fees for the time spent or full settlement of the loan. Do not feel pressurized. If you do, just walk away and do not sign any documents. We want to share this and let our voice be heard so that others can learn from our experience.

this in malaysia?

[Bedazzled6]

@silvias13, thank you for finding my post useful, it happened in SG. I am not very sure if this practice extends to MY. Do your research and add up the total costs/interest of the proposal. Do be prudent, avoid the inhouse loans. If you cannot get a proper bank loan, you may want to consider not owning a car.

[slingswish]

Kia/Hyundai lowest was 1.98%, suzuki was 2.18%.

Kia in house got 1.98%? I thought it was higher than bank 2.98%. Will try and ask this weekend when visit their showroom. 

[kelvinchui]

I got some questions on in-house financing.

 

1) How does it work? Will ownership of vehicle be registered under my name or a company name?

2) I am looking to change my old Civic for a brand new Civic 1.5T. However, I don't want to put up the 40% down payment. Is it possible to take a loan from financing company to buy a car from Kah Motor? Or is it only for 2nd hand cars?

[Lanevomax]

I got some questions on in-house financing.

 

1) How does it work? Will ownership of vehicle be registered under my name or a company name?

2) I am looking to change my old Civic for a brand new Civic 1.5T. However, I don't want to put up the 40% down payment. Is it possible to take a loan from financing company to buy a car from Kah Motor? Or is it only for 2nd hand cars?

 

1) in house loan , basically car dealer get the private finance company to loan credit for buyer. It is like personal loan , same theory if installment not paid , they will tow away car too. The interest rate can be extremely high like etc 3.98% or more. There might be more cross/agreement than MAS approve bank. Yes, the car will still be under your name unless it is a leasing scheme. better read throught all the lines before sign the documents if you are planning for it. it can be very hard to get rid of after documents sign.

 

2) Most of the authorise dealer will not violate the MAS law , they will get penalised and it is not worth it. 2nd hand cars will do the in house loan scheme only.