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how to pay public bank car loan via cimb clicks

6-month moratorium: Dear banks, you need to work on your public relations

Over the past two weeks, the banking sector lost not just money, but a lot of goodwill from its customers. The former was unavoidable due to Covid-19, the latter was all their own doing.We are talking about how banks managed the communications to their customers regarding the 6-month moratorium for bank loans. Do banks not have any PR strategy at all?Hands up if you had trouble understanding Bank Negara’s first announcement on 25-March, which said:“It is important to note that the in

Hans

Hans

May 9, 2020

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

Hans

Hans

Mar 25, 2020

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

Arif

Arif

Jan 28, 2021

Carsome and CIMB partner up to create new financing solution for used car dealers

Carsome, an online used car trading platform, has announced a special partnership with CIMB Bank Berhad (CIMB). The partnership will see a new inventory financing solution developed specifically to make acquiring second-hand cars by used car dealers easier and faster.The new solution is the first of its kind co-developed by a bank and a used car trading platform. It is expected to help drive inventory volume for dealers and subsequently increasing market demand within the used car indu

Jerrica

Jerrica

Jul 21, 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

Jerrica

Jerrica

Nov 25, 2020

Banks to make U-turn, interest charges might be imposed during 6-month moratorium for car loans?

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/c

Hans

Hans

Apr 30, 2020

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

Hans

Hans

Jul 17, 2020

Bank: 90 percent of borrowers took up 6-month moratorium offer for car loans

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

Hans

Hans

May 1, 2020

What paperwork do you need before selling your car?

Car photo created by standret - www.freepik.comIt’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? Heres how to ensure you get the highest priceIf it

Eric

Eric

Apr 6, 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,

Jerrica

Jerrica

Jul 7, 2020

What’s the minimum salary to get a loan for the 2020 Nissan Almera?

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?Base spec model picturedThe all-new Nissan Almera has a starting price of

Eric

Eric

Nov 4, 2020

BMW owners upset that they still need to pay for their cars, no 6-month moratorium by BMW Credit Malaysia

BMW Malaysia recently communicated its chat service as a way for customers to reach out to them during this Movement Control Order (MCO) period, by using Facebook’s existing chat function.But owners were not particularly keen about the new chat function – instead, many BMW owners were upset that they are not entitled for the 6-month moratorium by BMW Credit Malaysia.  (function(d, s, id) { let js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.creat

Eric

Eric

Mar 27, 2020

2020 Toyota Yaris – What’s the minimum salary to get a loan?

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 thing

Eric

Eric

Oct 24, 2020

2020 Honda City – What’s the minimum monthly salary to get a loan?

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 repayme

Eric

Eric

Oct 18, 2020

2020 Honda Civic – What's the minimum monthly salary to get a loan?

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

Eric

Eric

Oct 6, 2020

2020 Proton X50, what’s the minimum salary to get a loan?

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

Eric

Eric

Oct 27, 2020

What’s the minimum salary to get a loan for the 2020 Mitsubishi Xpander?

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 roughly

Eric

Eric

Nov 20, 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 Chia

Adrian Chia

May 24, 2020

'Loan' kereta anda tak lulus-lulus? Periksa dulu 5 perkara ini!

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? Perka

Mersita

Mersita

Feb 7, 2021

This is how Renault E-Store is helping TC Euro Cars ride out Covid-19

Renault is probably one of the quieter car brands in Malaysia. The French brand has always been on sale in Malaysia for years under TC Euro Cars and while it doesn't appear on consumers' radar as often as a Honda or a Toyota, TC Euro Cars (TCEC) have trippled their sales in five years.Renault sold only 475 cars in 2015, climbing to 599 in the following year. They hit a new high in 2018 with 1,009 cars sold and ended 2019 with 1,218 cars sold.The marketing strategies has paid off thr

Jerrica

Jerrica

Apr 3, 2020

How the Proton Saga went from RM 17,575 in year 1985 to RM 32,800 today

When the Proton Saga was first launched in 1985, a fresh graduate who earns a monthly salary of RM 1,000 can expect a reasonably comfortable life, even in the city.A bowl of noodle was just a little over a Ringgit, and a McDonalds burger would have cost just RM 3. A Nissan Sunny 130Y, the default car for middle-class families, retails for RM 19,500. Depending on how far along was one in his/her career, that’s about 1.5 years’ worth a young person’s salary.When the first Proton

Hans

Hans

Sep 2, 2019

Police warns the RM 13.8k "Mini" EV X2 is a scam!

Interest for this cute little electric vehicle has redoubled in the country, Malaysians know it as the "Mini" EV X2. There is even a website selling the electric vehicle for a discounted price of RM 13,800 (normal price RM 18,800). But PDRM’s Cyber Crime Alert Facebook page has warned against dropping your deposit just yet.We’ve talked about this little electric car before. It is known as the "Mine", a 3-door EV from a Chinese company Toda

Jerrica

Jerrica

May 4, 2020

Indonesia is making it easier to get loans to purchase an EV

Indonesia is taking its next step into a sustainable future as the country’s Financial Services Authority (OJK) has announced that they want to make getting a loan to purchase an electric vehicle (EV) easier.  OJK said in a statement that the new development is the next step in the government’s 2019 regulation aimed at accelerating the development of domestic vehicle industries.This will see the easing of rules on credit assessments and risk calculations for purchase loans of EV

Jerrica

Jerrica

Sep 7, 2020

Applying loan for the 2021 Toyota Yaris? Here's the minimum salary required

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 Ya

Eric

Eric

Dec 16, 2020

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

Eric

Eric

Jul 27, 2020

Owner Review: First time owning a German machine - My BMW 318i

** This article is the personal experience of a 2018 BMW 318i owner and does not necessarily reflect the views of WapCar.Fazrul AzizI bought this BMW 318i LCI recently from my sister as she bought a new Toyota Alphard. The mileage clocks at 25k only! Even though she sold it to me at the market’s price, the conditions & maintenance is top-notch. Also, the car is still under BMW warranty programme and free scheduled service for the next 3 years.How everything startedBack in my unive

Owner Review

Owner Review

Aug 22, 2020

Buying a 2021 Toyota Innova? Here's the minimum salary required for a loan

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

Eric

Eric

Jan 10, 2021

Buying used cars: How to test drive a used car?

Buying brand-new cars without test driving them is common, especially when shopping for an econobox. These days, you can learn more about a brand-new car just by browsing the internet.The COVID-19 pandemic has also pushed brands to enhance their respective virtual showrooms. While shopping for a brand-new car can be safely done without a test drive, the same couldn’t be said about used cars.Test driving a brand-new car is meant to impress you with all the bells & whistles and

Arif

Arif

Sep 4, 2020

Do you know how much are you losing on your car every month? GoCar Subs has a message for you

The actual cost of owning a car is a lot higher than just your monthly instalments, and we’re not talking about insurance or maintenance, itself already a big chunk of a car’s total ownership cost.Beyond maintenance, depreciation is the biggest ‘cost’ for a car owner. However, very few see it that way because it’s not something that you feel until you have to sell your car. It’s like losing money on stocks; it’s paper loss until you actually sell it, whi

Hans

Hans

Sep 12, 2020

Getting a 2021 Toyota Vios? Here's the minimum salary required for a loan

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 whats the minimum salary needed in order to apply for a loan. Well, youve come to the right place as we will show you how much is the minimum monthly salary required to purchase the Vi

CY Foong

CY Foong

Dec 16, 2020