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18 replies to this topic | 25 praises

#1

Posted 26 August 2017 - 06:25 PM

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Would like to seek the opinion and advise from knowledgeable expert here. Planning to get new car from a AD. The SE offered me a good deal but on the condition that I will have to take up a private car loan from Hitachi at interest of 2.78% rather than the in house loan of 2.5% interest from UOB. The SE promise that he will compensate the 0.28% of extra interest that I have to pay in term of cheque. With that it seems like I'm not losing out from anything since the extra interest from Hitachi will be compensated back to me. Am I missing out on anything? Is there something I have to look out for? Are there any risk in doing so? Would appreciate is people can provide some feedbacks and advice. Thanks!
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#2

Posted 26 August 2017 - 06:55 PM

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With the info in your post i interpret it as the SE is doing something under the table.

You can ask him the cheque with the interest returned is issued by who. The AD or himself?

If it is not from AD, it likely means you are not taking a loan from the AD

Usually for AD if you do not take loan, you will lose out on freebies like service credits etc.
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#3

Posted 26 August 2017 - 07:16 PM

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Nothing shady I imagine with the firm itself, that's Hitachi credit who is giving the loan. They been around for awhile but the arrangement seems out of norm

Edited by Mercury1, 26 August 2017 - 07:17 PM.

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#4

Posted 26 August 2017 - 07:30 PM

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Would like to seek the opinion and advise from knowledgeable expert here. Planning to get new car from a AD. The SE offered me a good deal but on the condition that I will have to take up a private car loan from Hitachi at interest of 2.78% rather than the in house loan of 2.5% interest from UOB. The SE promise that he will compensate the 0.28% of extra interest that I have to pay in term of cheque. With that it seems like I'm not losing out from anything since the extra interest from Hitachi will be compensated back to me. Am I missing out on anything? Is there something I have to look out for? Are there any risk in doing so? Would appreciate is people can provide some feedbacks and advice. Thanks!

Can ask ur SE for maybank loan? Now they offer 2.08
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#5

Posted 26 August 2017 - 07:31 PM

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The cheque will cover the interest for the whole duration of the loan?..btw both interest seems hight


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#6

Posted 26 August 2017 - 08:36 PM

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Not much details.
So shall guess that the extra 0.28% multiply by the loan amt & number of years shall be "offset" by the cheque.
Look out for the terms n conditions, i.e. Early settlement, the catch might be there.
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#7

Posted 26 August 2017 - 09:12 PM

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Would like to seek the opinion and advise from knowledgeable expert here. Planning to get new car from a AD. The SE offered me a good deal but on the condition that I will have to take up a private car loan from Hitachi at interest of 2.78% rather than the in house loan of 2.5% interest from UOB. The SE promise that he will compensate the 0.28% of extra interest that I have to pay in term of cheque. With that it seems like I'm not losing out from anything since the extra interest from Hitachi will be compensated back to me. Am I missing out on anything? Is there something I have to look out for? Are there any risk in doing so? Would appreciate is people can provide some feedbacks and advice. Thanks!


Private bank car loan Hee hee I was thought you refer to real private bank that give car loan. I only know private bank do private jet and yacht loan

Edited by D3badge, 26 August 2017 - 09:13 PM.


#8

Posted 26 August 2017 - 10:14 PM

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With the info in your post i interpret it as the SE is doing something under the table.

You can ask him the cheque with the interest returned is issued by who. The AD or himself?

If it is not from AD, it likely means you are not taking a loan from the AD

Usually for AD if you do not take loan, you will lose out on freebies like service credits etc.

Was told by the SE that the offset will come from him personally, guess that's because taking into the commission that Hitachi gave him, he still benefit after offsetting the 0.28 interest to me.

Not much details.
So shall guess that the extra 0.28% multiply by the loan amt & number of years shall be "offset" by the cheque.
Look out for the terms n conditions, i.e. Early settlement, the catch might be there.

Yes that I will ensure that the offset paid to me is for the entire 7 years loan of 0.28 interest.

#9

Posted 27 August 2017 - 12:33 PM

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Would like to seek the opinion and advise from knowledgeable expert here. Planning to get new car from a AD. The SE offered me a good deal but on the condition that I will have to take up a private car loan from Hitachi at interest of 2.78% rather than the in house loan of 2.5% interest from UOB. The SE promise that he will compensate the 0.28% of extra interest that I have to pay in term of cheque. With that it seems like I'm not losing out from anything since the extra interest from Hitachi will be compensated back to me. Am I missing out on anything? Is there something I have to look out for? Are there any risk in doing so? Would appreciate is people can provide some feedbacks and advice. Thanks!

Something fishy. Why would any SE compensate u for additional interest?

#10

Posted 27 August 2017 - 12:39 PM

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you should report this to MAS

 

we should not allow illegal practices to fester to the detriment of all genuine car owners here


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#11

Posted 27 August 2017 - 03:01 PM

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Which AD LOL ???

#12

Posted 27 August 2017 - 03:41 PM

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Clinch the deal, get the cheque then report him. May get bigger discounts from se and hitachi
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#13

Posted 27 August 2017 - 07:20 PM

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Something fishy. Why would any SE compensate u for additional interest?

Cos minus off the compensated interest, the SE still can earn commissions from Hitachi.

Clinch the deal, get the cheque then report him. May get bigger discounts from se and hitachi

Wow, that's ruthless!

#14

Posted 27 August 2017 - 07:56 PM

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Cos minus off the compensated interest, the SE still can earn commissions from Hitachi.
Wow, that's ruthless!

Don't think it's so simple. Better read the T&C carefully. Most of the time if do early settlement, that's where the sharp knifes come out

#15

Posted 27 August 2017 - 09:02 PM

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Don't think it's so simple. Better read the T&C carefully. Most of the time if do early settlement, that's where the sharp knifes come out

Hmm okay, thanks for the advice!

#16

Posted 10 January 2019 - 09:20 AM

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do banks offer car loan directly without going tru car dealers ??



#17

Posted 17 January 2019 - 09:07 PM

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do banks offer car loan directly without going tru car dealers ??

Most banks offer loans independently. They like it coz no need to pay comms to dealer.

#18

Posted 17 January 2019 - 09:10 PM

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Something fishy. Why would any SE compensate u for additional interest?

 

Bank loan officer  [gorgeous]  offered the SE some quid pro quo lor. 


That is all.

#19

Posted 12 March 2019 - 06:21 PM

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Which bank gives the best interest rates for car loans?

 

Brudder...you ask at the wrong forum liao...almost all MCFers did full cash settlement here  :slow:

 

Even those who signed up also because of the freebies :scared:

 

Shhh...please dont let the pussy out of the panty  :yeah-im-not-drunk:


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