Can I Make Another Loan For 2nd Car?

[putaqela]

Hi, hopefully someone here can tell me about this, whether can or cannot?

Okey, let say now my nett salary is RM 2000 for a month. My current payments for a month now is around RM 1200 (car + study + personal + c. card). If i want to make another loan for a 2nd car, let say for RM 600 for a monthly installment, can a finance company approve my 2nd car loan, considering my current financial status?

Btw someone else is going to pay for the 2nd car actually, is just that it will use my name only for that loan. Please share your experience or knowldege about this financing matter with me, if you know about it, thank you.

 

[g88]

your car repayment should not take more then 1/3 of your monthly salary

 

[putaqela]

your car repayment should not take more then 1/3 of your monthly salary

Meaning that is my case, the aswer is i cannot make a 2nd loan right...thanks, what a relief.....

 

[zan]

Meaning that is my case, the aswer is i cannot make a 2nd loan right...thanks, what a relief.....

yupp, most probably right. and as of now to the unknown future, the financier would be very strict on all car loan applications.

card credit sangkut 1-2 months also then they wont approve. coz it shows that u r having difficulties with your budget and expenses.

 

[putaqela]

good news...

Actually this is a good news for me...before this i am in a situation like malay proverb said "di telan mati anak, di luah mati bapak" get a proverb dictionary from Karam Singh Walia if you one to know what it's mean..ha..ha thanks guy

 

[wish9]

your car repayment should not take more then 1/3 of your monthly salary

Dear G88, I m wondering where did u get your info from?

my salary is 2k and car repayment is 1k every month.

 

[Juelz]

^ bro we're talking about legally ...if your talking about illegally then obviously
anything can be done

 

[infernaL]

wish9 : i think g88 meant it in personal financial terms , so there would be sufficient money for to use for the month in or maybe for emergencies .

and then again , IMO individual to individual basis , some may be able to live with the loan , some dont .

 

[BlackSamurai]

Dear G88, I m wondering where did u get your info from?

my salary is 2k and car repayment is 1k every month.

with Strong Guarantor, you can even get loan without income.

 

[LuKa]

sum1 want u to get a loan right? coz their salary is not enuff izit?

 

[Kye]

no way man ! dun think so you can get it ... even with guarantor difficult... :P

 

[mag9556]

can..
provided u can show to the bank that u can pay..
i also got 2 car on loan..
good luck...

 

[wish9]

So, I am wondering, whether you can get the loan with no income? Is all about stong guarantor?

To be honest, me, myself has guarantor! I am wondering, how many people out there got the loan without guarantor and how you did you do that?

1) Strong background?

2) Has properties?

3) Working for more than a century?

4) Father is Bill Gates?( father is rich doesnt mean your goodself can get the loan without your dad's guarantor) I don't know because my dad is not Bill.

5) Or something else?

 

[andy_lka]

i have my car without guarrantor......

it's all bout ur strong creditbilities........

ur monthly income Nett n i dun even wan to apply for a cr card.....im free of debt except my car loan..tats it..the rest is cash..

 

[mag9556]

Wah Andy,
very loaded ah u...

Actually, to apply loan...
Bank will see our income...
If u 1 100% gurantee to get a loan, try not to cheat the bank as they link to each other.
Credit card also will cause trouble on applying loan if u pay late or not paying for a mth... coz cc and personal loan is consider high risk for bank...
try devide ur income into 5 for the new loan then u will know that u can pay the loan or get the loan or not...

I have 3 cc, 2 car (second car not new), 1 house and 3 personal loan at bank (no support from family ma... hehehe) totally no gurantor at all...
bank will consider if u can pay or can not and then not all the bank are the same..
some bank will approve the loan and some done as for bank this is a business to them too... if they have the fund and their target increase... they will approved the loan...
Age also a very important things also... if ur age not enough, ur income superbly high and ur age is young also no use...

Good Luck... hope this info is useful...