Car Loan Interest rates?

• Subbx

  29 Jun 05, 22:11

  Hi guys,
  
  Considering to get a car but looking around for attractive interest rates for either first time financing or refinancing. How much interest rates are you guys getting and from where? Can share?
• the Bear

  29 Jun 05, 22:14

  mine is with Borneo Motors/HSBC.. standard 2.5%
  
  
• casshern

  29 Jun 05, 23:48

  borneo motoers 75% loan at 2.7% interest for 10 years
• casshern

  29 Jun 05, 23:49

  anyway nice siggy
• jOhO

  29 Jun 05, 23:52

  2.45% HLF 10 years 90% loan.
• eve2811

  29 Jun 05, 23:52

  DBS is having 1.6% loan but only applies after the first time loan etc.
• Subbx

  30 Jun 05, 07:41

  Originally posted by the Bear:

  mine is with Borneo Motors/HSBC.. standard 2.5%
  
  

  Bear, how much % of loan are you taking? :p
• Subbx

  30 Jun 05, 07:41

  Originally posted by casshern:

  anyway nice siggy

  THanks!
• Subbx

  30 Jun 05, 07:42

  Originally posted by eve2811:

  DBS is having 1.6% loan but only applies after the first time loan etc.

  You mean refinancing?
• Subbx

  30 Jun 05, 07:43

  Originally posted by jOhO:

  2.45% HLF 10 years 90% loan.

  I see you finally gotten your financing...
• camomile

  30 Jun 05, 07:57

  eh now BM 7YRs 2.7% 8-10yrs2.9%
  
  they having 12 mths interests rebate FREE , some term and condition apply ..
  
  how this works :
  
  if u intend to take up 10 yrs loan how this work
  
  $50000 x 9 x 2.9
  
  = get ur interest + principal $50000 / by loan tenure 120 mths
  
  OCBC 8-10yrs interest is at 3% le
  COE drop till siao
  
  [/u]
• Subbx

  30 Jun 05, 12:34

  Originally posted by camomile:

  eh now BM 7YRs 2.7% 8-10yrs2.9%
  
  they having 12 mths interests rebate FREE , some term and condition apply ..
  
  how this works :
  
  if u intend to take up 10 yrs loan how this work
  
  $50000 x 9 x 2.9
  
  = get ur interest + principal $50000 / by loan tenure 120 mths
  
  OCBC 8-10yrs interest is at 3% le
  COE drop till siao
  
  [/u]

  12 months interest rebates free has 2 possibilities leh.
  
  So is this charging of 9 years interest spread over a 10-year period or is this a charging of 9 years interest and start paying during the 2nd year of the loan?
  
  Thanks for the information
• Gazelle

  30 Jun 05, 14:30

  sub, if you dont intend to keep your car for 10 years , it is important that you look at the effective interest rate rather then the fixed rate.
  
  
• eve2811

  30 Jun 05, 17:42

  Originally posted by Subbx:

  You mean refinancing?

  Ya, i also did the refinancing after 6mths.
• nick34

  30 Jun 05, 20:05

  Paging for Randy ... where are you ...
• the Bear

  30 Jun 05, 20:29

  only $20,000
  
  over 2 years.. at $875 a month...
  
  total at $875 x 24 = $21,000
  
  $1,000 of $20,000 = 5%
  
  therefore 2.5% p.a.
  
  

  Originally posted by Subbx:

  Bear, how much % of loan are you taking? :p

• Subbx

  1 Jul 05, 09:26

  Originally posted by Gazelle:

  sub, if you dont intend to keep your car for 10 years , it is important that you look at the effective interest rate rather then the fixed rate.
  
  

  Yah I know. I have to see if the effective interest rate is attractive enough for me to seek financing from other banks rather than the appointed one and suffer the penalty fees.
• huoye

  1 Jul 05, 09:27

  Ehhhh............ I heard i am wanted.....for what ar???????
• Subbx

  1 Jul 05, 09:28

  Originally posted by eve2811:

  Ya, i also did the refinancing after 6mths.

  1.6% is quite a good bargain for refinancing...
• Subbx

  1 Jul 05, 09:29

  Originally posted by huoye:

  Ehhhh............ I heard i am wanted.....for what ar???????

  
• eve2811

  1 Jul 05, 15:20

  Originally posted by Subbx:

  1.6% is quite a good bargain for refinancing...

  yeah someone of mine, granted $3k in advance cash for refinancing to 1.6% hence mthly be saving ard $20 instead of $40 that depends
  if one option to take the $3k.