- Joined
- Mar 26, 2006
- Messages
- 633
- Points
- 5,028
i was told by someone who is in this car buy and sell buisness that now the max loan for cars have dropped.how many percent?im not sure.haven't fully calculated yet.but for sure it's at a very-very-very low amount.
the ones that's affected the most are usedcar dealers.i feel sorry for them.next whould be car owners that's trying to sell of their car.they announced it last week.well of course it wasn't in the newspapers or such.since it's actually a P&C thing where civillians aren't supose to know.but i think i need to spread it out jsut so you guys wont get freaked out (sellers) when you find out how much loss you'll be facing when you're about to sell it off to usedcars.and it's ridiculous i tell you!cant blame them tho (usedcars).drop in loans=drop in second hand car value.since profit is concerned.say if the max loan for a certain car is 20k.they'll have to reduce it to something lower such as 14k-17k so they'll be able to get profit from it.buisness is buisness right?so who is to be blamed?
there was an incident,where this guy was about to buy a civic i think it's a 2000 model.he was supposed to pay off the d/p for abt 4k.but i guess luck was not on his side.he got his loan results right after the bank announced the new loan price.he had to top up another 7k.which in total is 13k.pity him.
to make things worst,there's news about interest rates are going to be increased as well.when?im not sure myself.
it seemed that lately loans are harder to be approved nowdays.of course thanks to all of the 'i have a car but i can't afford to constantly pay the installments ppl' and end up getting black listed and car also kene tarik.all this s*its are happening.and now me and other ppl who wants or in need of a car can't get our loans approved.haih~
this might help you to figure out roughly how much does your car costs.got to this site : http://www.ambg.com.my/personal/financialtools/carrefinancing.asp
fill in your car particulars.there's a box titled estimated market value.now take that figure and times it with 80%.taadaa..that's the max loan approvable.i did say roughly.if you can get more,your luck lor.if less then...what to do...
next to estimate how much would usedcar will buy your car.minus 5k from the amount of approvable loan.so roughly that's the amout that usedcar will take.
unless your monthly income is a bomb or your parents got the $$$ this wouldn't matter would it? :Not_Impressed:
maybe some of you sellers are going through a hard time selling or buyers like me having a hard time buying.please do say something.an advice or anything.your experience maybe.
p/s:since ambank is the only bank that provides that service.so i used their site to get the figures.just for reference.no harm or any such towards ambank
peace out!
the ones that's affected the most are usedcar dealers.i feel sorry for them.next whould be car owners that's trying to sell of their car.they announced it last week.well of course it wasn't in the newspapers or such.since it's actually a P&C thing where civillians aren't supose to know.but i think i need to spread it out jsut so you guys wont get freaked out (sellers) when you find out how much loss you'll be facing when you're about to sell it off to usedcars.and it's ridiculous i tell you!cant blame them tho (usedcars).drop in loans=drop in second hand car value.since profit is concerned.say if the max loan for a certain car is 20k.they'll have to reduce it to something lower such as 14k-17k so they'll be able to get profit from it.buisness is buisness right?so who is to be blamed?
there was an incident,where this guy was about to buy a civic i think it's a 2000 model.he was supposed to pay off the d/p for abt 4k.but i guess luck was not on his side.he got his loan results right after the bank announced the new loan price.he had to top up another 7k.which in total is 13k.pity him.
to make things worst,there's news about interest rates are going to be increased as well.when?im not sure myself.
it seemed that lately loans are harder to be approved nowdays.of course thanks to all of the 'i have a car but i can't afford to constantly pay the installments ppl' and end up getting black listed and car also kene tarik.all this s*its are happening.and now me and other ppl who wants or in need of a car can't get our loans approved.haih~
this might help you to figure out roughly how much does your car costs.got to this site : http://www.ambg.com.my/personal/financialtools/carrefinancing.asp
fill in your car particulars.there's a box titled estimated market value.now take that figure and times it with 80%.taadaa..that's the max loan approvable.i did say roughly.if you can get more,your luck lor.if less then...what to do...
next to estimate how much would usedcar will buy your car.minus 5k from the amount of approvable loan.so roughly that's the amout that usedcar will take.
unless your monthly income is a bomb or your parents got the $$$ this wouldn't matter would it? :Not_Impressed:
maybe some of you sellers are going through a hard time selling or buyers like me having a hard time buying.please do say something.an advice or anything.your experience maybe.
p/s:since ambank is the only bank that provides that service.so i used their site to get the figures.just for reference.no harm or any such towards ambank
peace out!
