hong leong bank 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-mon

Hans

Mar 25, 2020

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 f

Arif

Jan 28, 2021

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 in

Jerrica

Nov 25, 2020

“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 financial experts in the US

Hans

Jul 17, 2020

Looks like the Mini EV2 X2 has a new rival in China. This Wuling Hong Guang Mini EV is the latest small electric vehicle (EV) on the market and it is cheaper and more practical than all its rivals. As like most small cars, the boxy 3-door Wuling EV’s design is inspired by Japanese Kei-cars. Overall, the Hong Guang looks very much like a life-size toy car with its straight simple lines and a colour scheme that gives the EV the illusion of a floating roof. Thanks to its size of 2,917 x 1,493 x 1,6

Jerrica

Jul 3, 2020

Pada tahun 1949, tempoh pinjaman bagi sebuah VW Beetle ialah 12 bulan dengan kadar bunga tahunan 9%. Itu dulu, sekarang dah lain. Kini, di Malaysia, tempoh pinjaman kereta selalunya untuk lima, tujuh atau sembilan tahun dengan kadar bunga tahunan berubah-ubah sekitar 3% (dikira berdasarkan jumlah prinsipal). Kereta-kereta zaman sekarang pun makin mahal dan hampir mustahil bagi kebanyakan orang untuk membelinya secara tunai. Tapi, adakah meminjam untuk membeli kereta satu perkara yang buruk? Perk

Mersita

Feb 7, 2021

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

Jerrica

Jul 7, 2020

It’s time to sell your car. You’ve already figured out how to get the highest price and how to clean the interior, but how do you sell your car without going through a used car dealer? Assuming that you’ve somehow managed to find for a buyer that’s willing to buy your old car, there are some steps to follow before you can sell off your old car. Also Read: Selling your car soon? Here's how to ensure you get the highest price If it’s a cash sale and there’s no outstanding loan, it’s pretty straigh

Eric

Apr 6, 2021

The following is still a developing news, we will update it when clearer official announcements are made. We were tipped off by our friends at Careta.my that banks might begin imposing interest charges on delayed/outstanding car loan repayments of borrowers who took up the 6-month moratorium. A statement released by Bank Negara Malaysia (BNM) earlier today said “…banking institutions are in the process of formalising agreements which reflect the revised payment terms with borrowers/customers wit

Hans

Apr 30, 2020

Only 10 percent of hire purchase borrowers of have opted out of the 6-month moratorium given by Bank Negara, according to data by RHB Investment Bank. In its latest bi-weekly newsletter dated 29-April, the investment bank downgraded its buy/sell call for CIMB, from Neutral to Sell. Part of the reason, according to the investment bank’s analysts is “…possibility of provisions for a macro overlay on expected credit loss and modification losses on the present value of deferred cash flows due to the

Hans

May 1, 2020

On Sunday (21 February 2021) morning, Hong Kong police pulled over 45 supercars on the suspicion of illegal racing. The list of cars included Ferraris, Lamborghinis, Porsches, and Mclarens. A Nissan GTR was even reportedly confiscated for illegal modifications to the car. The place where the cars were forced the stop was one of the busiest streets in Hong Kong. Videos and photos quickly went viral as the police went through the procession of supercars on the streets. According to the South China

Jerrica

Feb 23, 2021

Zizan Razak, pelakon dan pelawak terkenal tanah air tampak cukup gembira dalam majlis penyerahan motorsikal Yamaha Y16ZR 2021 yang berlangsung di Ibu Pejabat Hong Leong Yamaha di Sungai Buloh. Majlis itu turut disaksikan oleh Pengarah Urusan Hong Leong Yamaha, Dato' Jim Khor. Zizan yang juga hos bagi pelancaran model terbaru itu menerima Y16ZR baharunya dengan nombor chasis 08 dan visor hadapan dengan hiasan istimewa nama "Zizan Razak" ketika majlis tersebut yang turut dihadiri oleh Hoo Wan Tim

Mersita

Apr 7, 2021

Konvoi beramai-ramai sememangnya sebuah aktiviti yang terkenal di Malaysia. Aktiviti ini mengeratkan ikatan silaturahim di samping menguji ketahanan jentera masing-masing dalam keadaan berkumpulan. Hong Leong Yamaha Malaysia (HLYM) melihat positif aktiviti ini dan mengambil inisiatif untuk menawarkan kursus Marshall Riding Training kepada pemilik Yamaha di Malaysia. Kursus ini yang diiklankan di Facebook rasmi Yamaha Malaysia memberi peluang kepada pemilik motosikal Yamaha untuk menyertainya. Le

Haris

Sep 22, 2020

Mini MPVs like the Honda Freed are now all the rage for people of Hong Kong as they discover new ways to soothe their travel bug during the Covid-19 pandemic. The phenomenon is known popularly as “Shachuhaku” therapy. It is the Japanese term for camping out of your car or, in other words, campervans. In this video, the lady is one of many who has been living out her adventures in her converted Honda Freed Spike. The reason she started her Shachuhaku therapy journey was that she is an avid travel

Jerrica

Jan 1, 2021

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 foreseeable fut

Adrian Chia

May 24, 2020

The highly-anticipated 2020 Proton X50 is finally here, after several preview sessions held across the country. With prices starting from RM 79,200 for the Proton X50 1.5T Standard, it sure does look like a tempting deal, but is your salary enough to sign that loan? Let’s find out more in this article. How much do I need to make? Starting things off is the entry-level Proton X50 1.5T Standard (RM 79,200, on the road, without insurance), the monthly repayment is roughly RM 800 a month, given a 2.

Eric

Oct 27, 2020

Perdana Menteri Tan Sri Muhyiddin Yassin yang baru sahaja mengumumkan Pakej Bantuan Khas memberitahu bahawa bantuan moratorium dan pengurangan bayaran balik pinjaman akan terus disediakan. Moratorium, termasuk lanjutan moratorium, dan pengurangan ansuran pinjaman akan ditawarkan oleh bank- bank, seperti yang diumumkan sebelum ini. Lanjutan moratorium yang sedia ada akan dilaksanakan sehingga 30 Jun 2021. Ini bermaksud para peminjam yang telah kehilangan punca pendapatan, samada hilang kerja atau

Mersita

Jan 19, 2021

The Toyota Yaris nameplate isn’t exactly new in Malaysia, as it was first introduced here back in 2006 before getting discontinued a couple of year later. Fast forward to 2019 and UMW Toyota Motor reintroduced the Toyota Yaris in Malaysia, this time based on the NSP151-generation Toyota Vios. In this article, we will take a closer look and see how much you need to make each month before you can apply for a loan to purchase and maintain a Toyota Yaris. How much do I need to make? Starting things

Eric

Oct 24, 2020

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; people

Eric

Jul 27, 2020

Ever since Honda Malaysia introduced the tenth-generation Honda Civic a few years ago, it proved to be a very popular model. The facelifted Civic was introduced earlier this year, keeping it fresh for a couple more years. It's an aspirational car for a lot of young buyers, attracting many who can barely afford the car. So in this article, we will take a look and see how much you need to earn before you can afford to buy and maintain a Honda Civic. Taking the entry-level Civic 1.8 S (RM 109,326,

Eric

Oct 6, 2020

UMW Toyota Motor (UMWT) has a few new financing schemes to offer all car buyers who are taking advantage of the recent SST exemption to buy cars. The new financing schemes are a collaboration with Bank Rakyat and will offer attractive financing packages to all Malaysians aged between 18 to 65 years old. The new financing packages are arranged to follow Islamic financing principle and consist of 2 types of financing options; An-Naqlu 1 and An-Naqlu 2. An-Naqlu 1 offers 90 percent financing and fo

Jerrica

Aug 12, 2020

A couple of weeks ago, Honda Malaysia finally launched the all-new 2020 Honda City, replacing the GM6-generation model that was introduced back in 2014. Unlike the aspirational Honda Civic, the Honda City is aimed a more price-conscious crowd. In this article, we will take a look and see how much you need to earn before you can buy and maintain a Honda City. How much do I need to make? Take for example the entry-spec Honda City 1.5 S (RM 74,191, on the road, excluding insurance), the monthly rep

Eric

Oct 18, 2020

Mitsubishi Motors Malaysia recently released the prices of the 2020 Mitsubishi Xpander, a model that will compete directly against the Honda BR-V, Perodua Aruz, and Toyota Rush. In this article, we will take a closer look and see how much you need to make each month before you should apply for a loan to purchase the Mitsubishi Xpander. How much do I need to make? The Mitsubishi Xpander has a starting price of RM 91,358 (on the road, without insurance), meaning that the monthly repayment is rough

Eric

Nov 20, 2020

Just recently, official prices of the 2021 Toyota Yaris have been released. It is priced from RM 70,940 onwards for the base Yaris 1.5 J, before topping out at RM 84,808 for the Yaris 1.5 G. Currently, the Yaris competes against the Honda Jazz, but it will be replaced with the Honda City Hatchback in 2021. In this article, we will take a closer look and see how much you need to make each month before you should apply for a loan to purchase the Toyota Yaris. How much do I need to make? The Toyota

Eric

Dec 16, 2020

Berita baik untuk mereka yang berhasrat nak beli kereta! Sehingga 30 September 2020, Bank Rakyat menawarkan skim pinjaman menarik berdasarkan prinsip pembiayaan Islamik yang dikategorikan di bawah skim An-Naqlu 1 dan An-Naqlu 2. An-Naqlu 1 menawarkan 90 peratus pembiayaan dan ia mengikut konsep Syariah Al-Ijarah Thumma Al-Bai’ (AITAB). Manakala bagi skim dibawah An-Naqlu 2 pula, pinjaman boleh dibuat sehingga 100% dimana anda tidak perlu membayar wang pendahuluan untuk memiliki kereta idaman and

Mersita

Aug 13, 2020

Ever since spyshots of the all-new Nissan Almera started surfacing late last year, the hype started building up for ETCM’s newest B-segment sedan. Fast forward to November and ETCM has revealed prices of its highly-anticipated model. In this article, we will take a closer look and see how much you need to make each month before you should apply for a loan to purchase the all-new Nissan Almera. How much do I need to make? The all-new Nissan Almera has a starting price of RM 79,906 (on the road, w

Eric

Nov 4, 2020

Kehadiran 'Super moped' terbaharu keluaran Yamaha, Y16ZR memang amat dinanti-nantikan peminat jenama berkenaan di negara ini. Apa tidaknya, sekalipun berita mengenai kehadiran jentera yang dikenali Exciter 155 VVA di Vietnam itu masih 'khabar angin', sudah ada peminat yang cuba melakukan tempahan di pengedar sahnya. Selepas pelancaran pada tarikh 18 Mac 2021 lalu di Litar Antarabangsa Sepang (SIC) oleh Hong Leong Yamaha Motor (HLYM) dengan harga RM 10,888, seperti jangkaan ia laku bak 'pisang go

Khairil

Mar 31, 2021

UMW Toyota Motor has just announced the official prices of the 2021 Toyota Innova facelift in Malaysia. Prices start from RM 111,622 for the entry-level Innova 2.0 E variant and tops out at RM 129,667 for the Innova 2.0 X variant. Although there is a slight increase in prices across the board for the updated Innova, it is justifiable as UMWT has improved the safety and features of its people mover. Now, you might be thinking what’s the minimum salary needed in order to apply for a loan. Well, yo

Eric

Jan 10, 2021

UMW Toyota Motor has just released the official prices for the 2021 Toyota Vios facelift and the prices are nothing short of appealing. Starting from RM 74,623 for the base Vios 1.5 J, it is only RM 430 more than the base Honda City 1.5 S. As appealing as the prices are for the Vios facelift, you might be wondering what's the minimum salary needed in order to apply for a loan. Well, you've come to the right place as we will show you how much is the minimum monthly salary required to purchase the

CY Foong

Dec 16, 2020

Even though the country is still undergoing a pandemic, used car sales in Malaysia saw steady growth in 2020. This is despite the fact that used car dealers were severely hit from March to May due to the movement control order (MCO). According to the Federation of Motor and Credit Companies Association of Malaysia (FMCCAM) president, Datuk Tony Khor, the used car industry had only about nine months of business this year as a result. In an interview with StarBiz, he said in thanks to the sales ta

CY Foong

Dec 28, 2020