Tag

car loan during mco

Covid-19: What do you do if your car breaks down during MCO?

As we all hang on the edges of our seats awaiting the announcement if Movement Control Order would be extended yet again, we can only hope that none of our important appliances like our cars would require immediate repairs. But in the event that your car breaks down, all is not despair as the government has allowed workshops to remain open though at limited hours.Since the beginning of MCO, many car companies have ordered their service centres to partially close and announced a confirmation

JerricaJerrica

Apr 10, 2020

Covid-19: Should you start your car during Covid-19 MCO?

While the country is sitting through a Movement Control Order to curb the spread of Covid-19, our cars are getting a well-deserved rest from its daily gruelling commute. Leaving the car inactive for 2 weeks will not damage your car, but with a possibility of MCO extending, you might want to follow these steps.In the event that MCO is extended, we highly suggest that you…Drive the car around to heat up the engineIt is common knowledge that leaving your car inactive will often result in fla

JerricaJerrica

Mar 23, 2020

Car owners can't afford to sell their cars due to outstanding car loan balance

It turns out that it wasn’t just used car sales that saw an increase throughout the past few months, used car dealers in Johor Bahru are reporting an increase in car owners trying to sell their vehicles after the Movement Control Order (MCO) ended in June.One second-hand car shop manager Chang Keng Keong told The Star that there has been a 30 percent increase in the number of people who came to his shop enquiring for information about the disposal of their cars.This was especially apparent

JerricaJerrica

Nov 25, 2020

MITI announces epic U-Turn: Car factories not allowed to operate during MCO

Previously, when the Ministry of International Trade and Industry (MITI) released a list of businesses that are allowed to operate during the Movement Control Order (MCO), car workshops and factories were included in the list. Today, however, MITI has released yet another list that drops car factories from the essential economic services line-up.Old list of essential services released by MITINew list of essential services released by MITI on 12 January 2021With the sudden U-turn, this means that

JerricaJerrica

Jan 13, 2021

Covid-19: No need to renew expired driving licenses during MCO

Following the closure of all JPJ counters for the rest of MCO period due to large crowds, the government has announced a temporary solution for those whose driving license will expire during the period.While there is the option to renew driving licenses online at MySikap JPJ, this only applies to those who already have an existing account on the portal. Setting up an account on the portal requires a reference number that can only be obtained physically at JPJ counters.As such, the government has

JerricaJerrica

Mar 25, 2020

New or used car, which should you buy after MCO?

The Movement Control Order (MCO) in place to control the Covid-19 pandemic has put a huge speed bump on the various economic sector.The automotive industry has come to a complete halt as JPJ (Road and Transport Department Malaysia) has yet to resume new private vehicle registration (services related to commercial vehicles are available).It’s only a matter of time before consumers can go out and purchase their next perfect car. But with the soft economy that will prolong for the forese

Adrian ChiaAdrian Chia

May 24, 2020

Lalamove riders and drivers can earn up to RM 10k a month during MCO

Did you know that since the Movement Control Order (MCO) was implemented in March, Lalamove drivers and riders have been earning up to RM 10,000 a month? Workers for courier delivery services like Lalamove have experienced a massive spike in their incomes since the country went into lockdown and the trend seems to have continued even when we entered the Conditional MCO (CMCO).In May, a report surfaced that the number of unemployed Malaysians has spiked to 610,500 since March 2020. This accounts

JerricaJerrica

Dec 2, 2020

MCO 2.0: Can I go out and exercise during the lockdown?

Surprisingly for the reinstated Movement Control Order (MCO), the government is allowing the public to still carry out certain physical activities like cycling and jogging. But this is on condition that only 2 members in 1 household are allowed to exercise together at a time.Both members are also required to adhere to the 2-metre social distancing guidelines while jogging together.On another note, gyms or any other indoor physical activity facilities like badminton courts will be closed until MC

JerricaJerrica

Jan 13, 2021

MAA: Loan moratorium expiry to impact Malaysia auto industry negatively

The 6-month long loan moratorium is set to expire in September and its expiry could have some negative impact on the Malaysian automotive industry. The loan moratorium went into effect in April as the country entered the Movement Control Order (MCO) period.Malaysian Automotive Association (MAA) president Datuk Aishah Ahmad told The Edge, “People will not have the money to buy new vehicles. But I think it depends on the category of vehicles. I think high-end vehicles will not be impacted; p

EricEric

Jul 27, 2020

MCO 2.0: Car workshops and automotive factories allowed to operate

The Ministry of International Trade and Industry (MITI) has released a list of companies that are allowed to operate during the second round of the Movement Control Order (MCO). Updated: MITI has done a U-Turn on the list of essential services, read more about it here. Update No.2: MITI has once again revised the essential services list, car factories will be allowed to continue operations effective immediately. On Monday (11/1/2021), Prime Minister Tan Sri Muhyiddin Yassin announced that MCO wi

JerricaJerrica

Jan 12, 2021

BMW Credit Malaysia announces customized solutions for customers affected by MCO

BMW Credit Malaysia Sdn. Bhd., a vehicle financing subsidiary of BMW Group Malaysia, is now offering customized solutions for customers affected by the Covid-19’s Movement Control Order (MCO).As BMW Credit Malaysia’s financing options are far more varied than a bank’s traditional hire purchase, the solutions available will vary from one customer to another, depending on their individual contract with the company.Customers who wish to apply for greater flexibility with regards t

HansHans

Mar 29, 2020

MCO 2.0: How many people are allowed in a car?

For states and federal territories where the Movement Control Order (MCO) will be reinstated, only 2 people from one household will be allowed in a car. Only for cases of parents sending their children day-care centres, more passengers are allowed in the car.MCO has been reinstated in 5 states and 3 federal territories starting from 13 January to 26 January 2021. Earlier today, MITI has announced that car workshops and automotive factories will be allowed to continue operating during the MCO per

JerricaJerrica

Jan 12, 2021

MCO 2.0: Can I balik kampung after MCO starts?

The government has announced that they will be allowing more leeway for those who intend to return to their hometowns during the Movement Control Order (MCO). Senior Defence Minister Ismail Sabri said that those who would like to return to their hometowns must leave by Friday 15 January 2021.If you have purchased a flight, train, or bus ticket to return to your hometown during MCO, dont worry as the ministry has declared that they will not stop you from travelling. To curb the high number of new

JerricaJerrica

Jan 12, 2021

If you need a 9-year loan, you can’t afford the car, and do understand Rule of 78

“The interest is calculated based on the principal sum and not the remaining balance, that’s crazy!” That was the conversation I had a car company executive who has just been transferred from Europe to Malaysia.The topic of increasingly long loan tenures for auto loans is also becoming a concern in the US but how long is too long for them?7-year tenure auto loans now make up 20 percent of total US car loans – more than twice as many compared to 10 years ago. To many finan

HansHans

Jul 17, 2020

You can now have your Mercedes-Benz serviced at your doorstep during the MCO

Cycle & Carriage Bintang Berhad (C&C) has dispatched its Mercedes-Benz Star Mobile to bring customers the convenience of having their cars serviced at their doorstep in the Klang Valley.The Mercedes-Benz Star Mobile, housed within a Mercedes-Benz Vito, is staffed with two qualified technicians and fully equipped with the Xentry Diagnosis system, special tools and technician hand tools.The Star Mobile services include scheduled maintenance service, wiper blade replacement, oil filter, air

ShaunShaun

Apr 30, 2020

MCO 2.0: Car accessories shops allowed to reopen

The National Security Council (MKN) has announced that effective 10 February 2021, the rest of the Malaysian small businesses will be allowed to reopen. This will include car accessories shops across the country.Here is the complete list of businesses allowed to reopen during the Movement Control Order (MCO):Other than that, MKN has also announced that dine-in at restaurants will be allowed starting 10 February 2021. All diners will have to adhere to social distancing rules and one table is only

JerricaJerrica

Feb 9, 2021

Which car brands' CKD plants are affected by the MCO stop work order?

Now that the Ministry of International Trade and Industry (MITI) has made a U-turn on their decision to allow car factories to continue operating during the reinstated Movement Control Order (MCO), what are the car factories that are affected by the new standard operating procedures?Honda plant in Pegoh, MelakaAs you know there are numerous car factories in Malaysia, car factory hotspots mainly focus in Kedah, Selangor, and Pahang. The Honda plant is the only car producing factory located in Peg

JerricaJerrica

Jan 14, 2021

MKN mulls allowing all economic sectors to reopen during extended MCO

Despite the extension of the Movement Control Order (MCO) to 18 February 2021 and stricter standard operating procedures (SOP), a source has told The Star that the government will allow all sectors of the economy to be reopened.“All economic sectors will be opened, including retail, as we have been informed by trade associations that the current MCO has affected small businesses and SMEs more adversely than the first MCO last March.“The ministries in charge of businesses have given t

JerricaJerrica

Feb 3, 2021

How to get your car loan approved? Here are 5 things that affect your chances

In 1949, the loan tenure for a VW Beetle was 12 months with an interest rate of 9 % per annum. Things have changed. In Malaysia today, car loan tenures are usually of 5,7, or even 9 years with interest rates hovering around 3% per annum (calculated on principal). Cars are getting more expensive and are almost impossible to purchase without using a loan.But is taking a car loan a bad financial decision? Well, it depends on your financial circumstances (mainly your income), how much you benefit fr

ArifArif

Jan 28, 2021

6-month moratorium on bank loans – what does it mean for your car loan?

Bank Negara Malaysia have announced a 6-month moratorium for all bank loans except credit card balances, starting 1 April 2020. The moratorium is basically a temporary freeze on loan repayments.However, do remember that the moratorium applies only to loan repayments. Interests will continue to accrue every month as usual.Also, the moratorium applies only to loans that have not been in arrears (all previous payments owed paid in full) for more than 90 days as of 1 April 2020.How does the 6-month

HansHans

Mar 25, 2020

MITI’s latest directive on relaxing MCO for workshops and car plants confuses more than informs

At 9am today, the Ministry of International Trade and Industry’s (MITI) website will begin accepting applications from businesses who wish to reopen during MCO. Last Friday, MITI Minister Dato’ Seri Azmin Ali announced a list of business sectors that are allowed to resume operations. Among the sectors are automotive workshops and automotive manufacturing plants (exports only).However, Defense Minister Ismail Sabri Yaakob clarified yesterday that MITI’s announcement doesn’

HansHans

Apr 13, 2020

Covid-19: Honda Malaysia announces 30-day warranty extension due to MCO

Honda Malaysia has announced that they will offer a 30-day warranty extension for cars whose warranties are expiring during the Movement Control Order (MCO) period.The 30-day extension will come in effect from the last day of the MCO as determined by the government. UMW Toyota also announced the same warranty extension programme.As for other Honda owners, they will not have to worry about missing their scheduled service and having their warranty voided during the MCO period. Honda Malaysia

Adrian ChiaAdrian Chia

Mar 28, 2020

Record high sales for used cars continues! Malaysians social distancing in second-hand cars?

We previously reported that second-hand car dealers are experiencing record-high sales in July 2020. It seems the success followed through to the third half of 2020 as well.According to the president of Federation of Motor and Credit Companies Association of Malaysia (FMCCAM), Datuk Tony Khor, the year-on-year sales in July spiked over 25 percent to 37,800 units while both August and September registered over 17 percent year-on-year growth.He attributed the spike in sales to the incentives like

JerricaJerrica

Oct 12, 2020

Nissan service centres resumes operation during MCO

Nissan owners in Malaysia, you are now able to give your Nissan its much-needed service, as Tan Chong Ekspres Auto Servis (TCEAS) has received approval from the Ministry of International Trade and Industry (MITI) to partially resume their operations.Do note that services are limited by MITI's approval to just: service maintenance, minor repairs, and vehicle breakdown services. Owners can set an appointment either by calling their nearest service centre, DriveOn mobile app, TCEAS website or N

Zamil SyaheerZamil Syaheer

Apr 30, 2020

After MCO, chip supply shortage is slowing car production in Malaysia

Just when you thought the car industry can get some respite after MITI’s corrective U-turn to allow automotive manufacturing to resume as the whole of Malaysia except for Sarawak goes back into MCO mode, we have been told by our friends working in the manufacturing sector that the much talked about worldwide shortage of semiconductor chips has hit Malaysia, threatening to halt production lines once more.Not all manufacturers are facing the problem yet but we understand that several major l

HansHans

Jan 21, 2021

MTUC appeals to extend loan moratorium for another 6-months

The Malaysian Trades Union Congress (MTUC) is urging the Ministry of Finance (MoF) and Bank Negara Malaysia to compel banks to extend the deferment of loans for another six months.The current 6-month moratorium was announced back in March when the first stage of the Movement Control Order (MCO) was enforced in an effort to prevent the spread of the pandemic.With all activities and businesses put on pause, many people were either forced to take massive pay cuts, go on unpaid leaves by employers,

JerricaJerrica

Jul 7, 2020

Covid-19: Proton reminds all owners to service their cars within 30 days MCO ends

As our country observes the need of an extended Movement Control Order, Proton has announced the extension of warranties and that no penalties will be imposed on owners who have missed a scheduled service during the lockdown.The most important part is that Proton will be extending all warranties expiring during the month-long lockdown period. The expiry will be extended another 30 days or 1,000 km following the final day of the MCO.Proton has also announced that they will continue to honour warr

JerricaJerrica

Apr 6, 2020

Stuck at home during MCO? Here’s a list of awesome car movies to binge on!

In case you missed it, the whole of Malaysia except Sarawak will be observing the Movement Control Order (MCO) until 4 February 2021. While we can’t show our love for our cars by driving them, we can always sooth our souls with some car related action movies. Here’s a list of car movies that you can binge on during the lockdown! The rather mainstream films (No Fast and Furious movies included)Need for SpeedIf you’re looking for something to kick start your weekend, then Need f

JerricaJerrica

Jan 23, 2021

Covid-19: MCO will extend to June if public remains defiant

As our country enter the third phase of the Movement Control Order, the Inspector-General of Police (IGP) made a statement that if the public remains defiant, they will have no choice but continue extending the order until June.Just 2 days into the third phase, highways within the Klang Valley are reported to be experiencing traffic congestion similar to a normal working day before MCO was implemented. The traffic jam phenomenon has even prompted the National Safety Ministry’s official mes

JerricaJerrica

Apr 15, 2020

Car dealership bodies propose excise duty exemption to overcome Covid-19 slowdown

5 dealership bodies have appealed to the Ministry of Finance with a memorandum to help ensure the survival of the automotive industry in light of the country’s fight against the coronavirus.According to our buddies at Careta, the memorandum dated on the 30th of March 2020 was represented by 5 bodies made up of 4 dealer associations of popular car brands in Malaysia and 1 second hand car sales representative.To ensure the continued business prospects of the association and the saf

JerricaJerrica

Apr 6, 2020