[zaki405]

In UK and US their car loans are calculated using APR method which is akin
to our homeloan concept i.e reducing principal.

Can we complain to BNM?

eg in malaysia
for RM50k loan over 7 years with 5% interest,monthly payment works out to
be RM803.57

but in US/UK:
for RM50k loan over 7 years with 5% interest,monthly payment works out to
be RM706.69.That is almost RM100 less.

if 100k loan with 5% interest:

Malaysia loan scheme:RM1607
US/UK loan scheme:RM1413.39

ALMOST RM200 savings!!!per month!!

[limeuu]

It may have something to do with the HP Act.

The way to get a real comparative picture is to multiply the HP interest by
1.9 and you will get the equivalent based on decreasing capital method.

So a loan on 5% works out to be 9.5%.

Even those sweeteners from banks eg. 2.88% works out to be 5.5%, much
higher than the 3-3.7% you get for your FDs. So think about it, it makes no
sence to keep your extra cash in FDs at low interests, and then borrow
money to finance your car at higher interest.

[zaki405]

so,can't we complain to BNM and let them study and revised the situation?

why?this is daylight robbery!

[justtalk]

These arebthe different between yearly rest interest, monthly rest
interest and flat rate interest......