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Hire Purchase Loan


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#1
reendaniel

Posted 20 August 2013 - 09:49 PM

reendaniel

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Just received a memo from bankers that hire purchase loan(car loan) period will be reduced maximum to 7 years and downpayment 20% required for all new car effective from September 2013.
If you have friends or relatives who would like to purchase a new car, please advise them to make a loan submission by this months August.

#2
klaatu08

Posted 21 August 2013 - 02:32 PM

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QUOTE (reendaniel @ Aug 20 2013, 09:49 PM) <{POST_SNAPBACK}>
Just received a memo from bankers that hire purchase loan(car loan) period will be reduced maximum to 7 years and downpayment 20% required for all new car effective from September 2013.
If you have friends or relatives who would like to purchase a new car, please advise them to make a loan submission by this months August.

firstly, according to BNM posting on their FB page, it is not true

BNM - car loa rumour

secondly, pls change your title.... 80% down payment? smile_big.gif

#3
vr2turbo

Posted 22 August 2013 - 07:44 AM

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QUOTE (klaatu08 @ Aug 21 2013, 02:32 PM) <{POST_SNAPBACK}>
firstly, according to BNM posting on their FB page, it is not true

BNM - car loa rumour

secondly, pls change your title.... 80% down payment? smile_big.gif

Ah! rumour.....

#4
klaatu08

Posted 13 September 2013 - 09:15 PM

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btw, I was told that from now on, for direct deal of buy/sell car, which mean direct seller to buyer without going through a company, the deposit have to pay to the bank instead of the seller, bank will then pay it back to the seller... after the loan approved...

new ruling according to the bank officer.

#5
vr2turbo

Posted 17 September 2013 - 09:23 AM

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QUOTE (klaatu08 @ Sep 13 2013, 09:15 PM) <{POST_SNAPBACK}>
btw, I was told that from now on, for direct deal of buy/sell car, which mean direct seller to buyer without going through a company, the deposit have to pay to the bank instead of the seller, bank will then pay it back to the seller... after the loan approved...

new ruling according to the bank officer.

But deposit is to hold the car for buyer. What if 2 days later buyer don't want and also did not pay deposit to bank?

#6
klaatu08

Posted 17 September 2013 - 09:55 AM

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QUOTE (vr2turbo @ Sep 17 2013, 09:23 AM) <{POST_SNAPBACK}>
But deposit is to hold the car for buyer. What if 2 days later buyer don't want and also did not pay deposit to bank?

Yes, that is my concern as well, coz I am letting go my ride, & got a buyer liao, but becoz of it is a direct deal & I did check with the bank officer that buyer only need to pay the deposit to bank after loan approve....



#7
vr2turbo

Posted 18 September 2013 - 07:58 AM

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QUOTE (klaatu08 @ Sep 17 2013, 09:55 AM) <{POST_SNAPBACK}>
Yes, that is my concern as well, coz I am letting go my ride, & got a buyer liao, but becoz of it is a direct deal & I did check with the bank officer that buyer only need to pay the deposit to bank after loan approve....

That is even worse, "after" loan approve. Means cannot get loan, seller wasting time waiting.... smile_blackeye.gif