public bank car auction
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 interest/pr
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
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
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
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
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
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
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
Bank Negara Malaysia (BNM) dan Suruhanjaya Persaingan Malaysia (MyCC) digesa melakukan pemantauan terhadap harga insurans yang dikenakan kepada pengguna kenderaan di Malaysia. Ahli Parlimen Pekan, Datuk Seri Najib Tun Razak berkata, ini kerana beliau mendapati ada pengguna yang mendakwa mereka terpaksa membayar insurans kenderaan pada harga yang tidak selari dengan pelaksanaan liberalisasi tarif insurans motor negara. Menurutnya, adalah tidak adil sekiranya pengguna perlu membayar premium insura
The Royal Malaysia Police (PDRM) is urging the public to first make a police report if they ever recorded proof of any criminal activities before uploading proof on social media. This call to action from PDRM came after a daring armed robbery where RM 3 million worth of jewellery, cash and a Toyota Hilux were stolen happened on the Sungai Besi Expressway. According to PDRM, the video of the robbery was uploaded onto social media by an e-hailing driver who did not contact the police. Brickfields
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
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 messagin
The National Safety Council (MKN) will allow all public transport (trains, buses, e-hailing/ taxis, ferries) to continue operating as per usual during the reinstated Movement Control Order (MCO) in Penang, Selangor, Melaka, Penang, Sabah, Kuala Lumpur, Putrajaya, and Labuan. Not only will buses be able to operate according to the schedule released on 29 December 2020, but they are also allowed to operate at full capacity. Only buses in Sabah will be restricted 50 per cent capacity. E-hailing rid
When it comes to shopping for a car, terms like reconditioned cars and certified pre-owned (CPO) cars get tossed around a fair bit. On paper, both CPO and reconditioned (recond) cars are very similar – both are cheaper than a new car, allowing the buyer to save some money. But that’s where the similarities end, as they are world’s apart once you look closer. Recond cars – good on paper, but buyers beware While it may seem tempting to save RM 40k to RM 50k on a recond car versus a brand-new car,
According to a report from The World Bank, Malaysia Economic Monitor, June 2015 - Transforming Urban Transport, working class Malaysians are estimated to waste about 1 million wasted hours annually stuck in traffic congestions per day. The time spent stuck in traffic could have been used more productively, like putting another hour in at work or catching up on social activities. The hours wasted also comes at a cost, this is what economists know as “opportunity cost”. Wasting 1 million hours col
MYPerodua Nation 2019 will open its doors to the public from 20-22 September at Setia City Oval Lawn in Setia Alam, with a crowd of some 25,000 expected over three days – the biggest ever for the event. MYPerodua Nation is the nation’s premier Perodua event – the annual carnival featuring allthings Perodua is into its third year. “Following successful events in Shah Alam in 2017 and Sungai Petani in 2018, MYPerodua Nation 2019 promises an exciting and fun-filled weekend for all like never before
Earlier this week, Proton received a lot of flak for auctioning off its prototypes, concept cars including the ItalDesign Giugiaro’s Emas concept, and even Karamjit Singh’s former PERT rally car. Critics say that Proton’s new Chinese owners from Geely were being disrespectful of Proton’s heritage, and that many of these cars deserve a spot in a museum. But I digress. Rewind for a moment the timelines. These cars have been locked away and left to rot by its Malaysian owners long before Geely came
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
Although it is only October, Mitsubishi Malaysia has already kicked off their annual year-end sales campaign with low interest rates of 0.88%. The special low interest offer is available on the Triton VGT Adventure X, Triton VGT AT Premium, and Triton VGT MT Premium. This offer is exclusive to customers purchasing their Tritons via Maybank or Public Bank. If you’re not purchasing your car from either of the banks mentioned, fret not as Mitsubishi also has cash rebates of up to RM 10,000 up for o
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 industry. The
When the 200 PS Toyota 86 was first launched in Malaysia in 2012, its asking price was RM 243,000 for the manual, and RM 249,000 for the automatic variant. For a supposedly affordable sports car, its pricing in Malaysia is hardly affordable at all. The more powerful (220 PS), more practical Volkswagen Golf GTI Mk7 can be had for about RM17k less, at RM 227,888. Toyota 86 UMW Toyota then introduced the facelifted 86 in 2017. There were some minor upgrades but prices went up further, to RM 257,502
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
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
The public car park adjacent to the Kinabalu National Park has collapsed due to incessant rain over the past week. A viral video has been circulating around social media showing the extend of the damage though the 2-lane road next to it is not affected. Located at km 20 Jalan Ranau-Tamparuli in the Kundasang highlands in Ranau, the district police chief, Sammy Newton, believed that the landslide happened earlier this morning as the police department was alerted at 7.15 am. He told reporters that
A very rare English Proton Satria Neo rally car is for sale on Motorsports Auction for 85,000 GBP. Unlike the Satria Neo S2000 rally car, this Satria Neo runs a British-made engine – the 2,500 Millington Diamond Engine. Specifically, the 2,500 cc Millington Diamond series 2+. The history of the Millington Engines dates all the way back to 1971 with Roy Millington working on diesel engines of the family farm. The first diamond engines are based on the 4-cylinder Cosworth YB engine. Roy Millington
Remember Proton's electric vehicle (EV) project? Today, we found out that Proton was putting up models such as the Proton Saga EV, Proton Iriz EV, and even the Proton EMAS concept car up for auction. This following last week's auction of historic concepts and prototypes. UPDATE: The Proton EMAS concept car has been withdrawn from the auction. Thumbs up to Proton! It's impossible for a manufacturer to keep every protoype/concept car, but the EMAS deserves a spot in the museum. Today's auction was
Toyota Harrier Alongside the Toyota Alphard/Vellfire, the Toyota Harrier is an immensely popular luxury SUV. Part of the reason why the Harrier is so popular is the lack of competition – it has no direct rival either from Honda or Nissan. But the question remains – should you buy a cheap reconditioned (recond) unit or pay up for an officially-imported unit by UMW Toyota Motor? Let’s take a closer look at the pros and cons. Prices – Recond is cheaper, but for a good reason Prices start from RM 24
Although Malaysians can expect the locally-assembled (CKD) Mazda CX-30 to be introduced in the near future, it may not be too soon. Contrary to AmInvestment Bank's report, checks with Bermaz Auto confirms that there will be no CKD CX-30 for 2021. However, this doesn't completely rule out the model's local assembly. Plans to locally-assemble the model is still afoot, but the CKD CX-30's introduction is only slated for 2022 or later. Locally-assembled CX-30 This news comes on the back of AmInvestm
It appears that Malaysia could welcome the locally-assembled (CKD) 2021 Mazda CX-30 in the near future, according to a report published by AmInvest Bank. Meanwhile, a seperate report by Public Investment Bank states that production of the SUV is slated to begin in December this year. Update 12-March 2021: A Bermaz Auto source clarified that the Mazda CX-30 CKD is only set to be introduced in 2022 or later. The same report also estimates that local assembly of the model will reduce its selling pr
Yes, you read the title correctly – we’ve compiled a list of 6 cars you should buy recond over official units. For those who have been following us would know that we don’t usually recommend recond cars, but for this post, we’ll make an exception. But before we get started, we should clarify the misconception that recond car are better equipped than local spec cars isn’t true. Companies like Toyota and Mercedes-Benz have been fitting their cars with generous safety equipment, matching or even su
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