[gedebe]

Pls don't ban my post here as I can't find any forum to ask abt this
subject. Can you all recommend a bank which will do auto refinance, I
need some cash to buy a 2nd car.
I tried to call HL bank, but they say they don't do, calling AmBank say
they will charge 5.15% which I think is high la. Haven't try other bank
yet.

[dungudog]

Banks/Finance Company dont do refinancing simply because, they do not wish
to take the risk. And if you want to buy a 2nd car, might as well u
finance the purchase of the 2nd car which will give u lower interest rate
than trying to refinance your car and pay for the 2nd car... sounds absurd
doesnt it? Not unless if you want to refinance to get some cash to pay for
the down payment for the 2nd car, then that is pretty bad financial
management on your part. Alternatively, may I suggest taking a personal
financing from either BSN or HSBC (interest rates are pretty high, 5.6%
and 8%). Then again, this doesnt add up.

Maybank, EON should do refinancing but I suppose interest rates of 4.5% -
6% do not surprise me.

[uvex]

Is the first car fully settle loan?

Try Bumi-Commerce bank.

The first car have to transfer to other people's name. May be your wife or
brothers.

What car u plan to buy for second car?

[Samuri]

gebede,

try to get the max loan for your second car, nowadays you can get 90% loan
for most models.

Don't get yourself into financial mess by taking loan to pay the
downpayment. If you can't afford the downpayment, you shouldn't be buying
the car.

[gedebe]

uvex: "The first car have to transfer to other people`s name. May be your
wife or brothers.
What car u plan to buy for second car? "

Actually is like that I`ve alreay bought the 2nd car, my father borrow me
the money by using personal loan fm bank so I have to pay him back la (at
1st I would like to sell off my 1st car which has been settled then later
decide not to)

Transferring to other ppl name will need me to pay transfer fee and this
will also further devalue the car which I am trying to avoid. And I
wanted to loan amount is only around 15K

[sinister]

15K, go for personal loan..

[dungudog]

BSN has a personal loan for 5.6%, I think its the lowest in the market,
unless you are a Govt servant, you may want to consider Bank Rakyat.

[gedebe]

dungudog: incidently my gf is working for a goverment link co, what is
your suggestion?

[dungudog]

I think it will be easier for her to get the Bank Rakyat personal loan,
the rates last I heard was the lowest of the few that is in the market.
15k loan if you take 3 yrs will probably be around 450++ per month. Can
take longer but the interest they charge is as per HP (ie not on reducing
balance as in housing loan). Not much choices really, unless you tell your
dad that you pay him interest free for the next 36 months!

Alternatively, sell of the oldest car of the 2, or the one that gives the
most problem, pay off your dad and use the balance to put the downpayment
for a new car, since the interest rates for new cars are pretty low. Then
you will still have 2 cars with 1 brand new one sitting in ur garage.

[V406198]

Hello.....

This refinance car loans formula is NOT working in this country....so stop dreaming !