Tag

toyota capital loan payment

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, yo

EricEric

Jan 10, 2021

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 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 FoongCY Foong

Dec 16, 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-mon

HansHans

Mar 25, 2020

Toyota takes 5 percent stake in Suzuki, forms new capital alliance

Toyota takes 4.94 percent of Suzuki Suzuki acquires 0.2 percent of Toyota Suzuki to gain Toyota’s hybrid tech while Toyota gains Suzuki’s engine for compact cars, plus expertise in India Following a joint announcement by Toyota and Suzuki earlier in March, both companies have confirmed today that they will form a capital alliance. The deal, still subject to approval by the respective countries’ competition authorities, will see Toyota acquiring 4.94 percent of Suzuki via the purchase of 24 milli

RobertRobert

Aug 28, 2019

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 f

ArifArif

Jan 28, 2021

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 things

EricEric

Oct 24, 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

EricEric

Dec 16, 2020

Is your monthly income enough to own the 2021 Toyota Corolla Cross?

The Toyota Corolla Cross is the all-new SUV rivalling the likes of the Honda HR-V, Subaru XV, Mazda CX-30, and even the Proton X70. The Corolla Cross comes in two variants, the Corolla Cross 1.8 G and the Corolla Cross 1.8 V. The former starts at a price of RM 124,000 and the latter at RM 134,000. How much money to put aside for a Toyota Corolla Cross? This depends on what variant you opt for and how the parameters of the financing service (amount, tenure, and interest). To keep things simple, w

ArifArif

Apr 3, 2021

DBKL parking payment goes cashless, but no JomParking and TnG e-Wallet... yet

Starting 1st October 2020, you can no longer use the parking machines to pay for your street parking ticket in the city under DBKL’s purview. But you can’t pay via JomParking, Boost, and TnG e-Wallet either, instead you will have to familiarise yourself with DBKL’s new payment apps. According to DBKL’s statement, the council has decided not to renew their contract with the company that provides the payment machines and move on to purely cashless mobile payments only as a way to encourage living

JerricaJerrica

Oct 1, 2020

Perodua Myvi – How much to maintain, what's the monthly payment?

For those shopping for a B-segment hatchback, the default option for many Malaysians is the Perodua Myvi. The other alternative is the Proton Iriz, but we’ll get into that later. In this article, we’ll take a closer look at the Perodua Myvi’s pros and cons, as well as the estimated monthly payment to see if it’s the right car for you. Pros and Cons Headlining the Perodua Myvi is its value-for-money preposition. For a car that costs less than RM 53k, the potential buyer does get a fair bit of equ

EricEric

Sep 11, 2020

Perodua Bezza – How much is the monthly payment?

If you’re shopping for an entry-level sedan, chances are you’re deciding between the Proton Saga and the Perodua Bezza. Here’s a low-down on the Perodua Bezza to help you decide if it’s the right car for you. For starters, the Perodua Bezza is Perodua’s first-ever sedan. It goes head-to-head against the Proton Saga in the A-segment sedan market. Pros and Cons The biggest party piece of the Perodua Bezza is its best-in-class fuel economy. When we sampled the updated Bezza earlier this year, we re

EricEric

Sep 7, 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 rough

EricEric

Nov 20, 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/customers wit

HansHans

Apr 30, 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; people

EricEric

Jul 27, 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 2.

EricEric

Oct 27, 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 109,326,

EricEric

Oct 6, 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 rep

EricEric

Oct 18, 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 EVs. This means tha

JerricaJerrica

Sep 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? The all-new Nissan Almera has a starting price of RM 79,906 (on the road, w

EricEric

Nov 4, 2020

Singapore banks push for EVs, property developers to install EV charging points

Following Tesla’s return to Singapore, two banks have shown great initiative in the adoption of electric vehicles. The Business Times reports, that on Monday, OCBC had announced a strategic partnership with Charge+, a Singaporean EV solutions firm. Charge+ aims to install 10,000 EV charging points in Singapore by 2030, in line with the government's target of 60,000 EV charging points. The partnership intends to encourage property developers (who are customers of OCBC) to install charging points

ArifArif

Feb 16, 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 financial experts in the US

HansHans

Jul 17, 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 in

JerricaJerrica

Nov 25, 2020

Looking for a Lexus UX? Get one from RM 1,938 with this financial plan!

Lexus is a brand that's about pursuing perfection but with Lexus Malaysia’s Next Step financial plan, you can afford to own a brand-new Lexus UX from as low as RM 1,938 a month. The Lexus Next Step is an innovative and affordable customisable financial solution by Lexus Capital Services. Under this initiative, customers can enjoy slightly lower monthly installments compared to standard hire purchase loans. As such, purchases made through the Lexus Next Step plan also includes the standard five-y

CY FoongCY Foong

Jan 13, 2021

Believe it or not, this is a Toyota Innova

Here in Malaysia, or even anywhere else in South East Asia, we don’t think very highly of the Toyota Innova. Malaysians in particular can’t get over the fact that it rides on the same underpinnings as a rudimentary Toyota Hilux pick-up truck. Tough and good for carrying loads yes, but not for refinement. Over in Indonesia, theToyota Innova is very popular. It’s seen as a step up from the Toyota Avanza, the default car for Indonesia, similar to our Perodua Myvi. Still, Indonesians don’t see it as

HansHans

Apr 1, 2020

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

'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? Perk

MersitaMersita

Feb 7, 2021

Man gets scammed on FB over a RM 36k Ford Ranger Raptor

As car fanatics, we love to indulge in a little bit of car window shopping. You know, looking through the online classifieds hoping to add a dream car to your imaginary garage. Sometimes, you do come across a deal that sounds way too good to be true and on rare occasions, it really is a good deal. Unfortunately for a contractor, he fell victim to a scam. According to local reports, the 53-year old man from Pekan, Pahang stumbled across an ad for a Ford Ranger Raptor that was for sale on Facebook

CY FoongCY Foong

Oct 21, 2020

Budget 2021: Low income B40 group can apply for 50 percent lower loan repayments

Malaysia’s Budget 2021 was tabled today by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz, under very unusual CMCO circumstances. There’s nothing specific to the automotive industry, but on the topic of loan moratorium, the government has confirmed that there will be no extension. However, Zafrul explained that the government is putting forward a set of targeted assistance packages for the B40 low income earners, as well as small and medium enterprises. Eligible borrowers can choose betwee

HansHans

Nov 6, 2020

UMW Toyota teams up with Bank Rakyat to introduce new financing scheme

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

JerricaJerrica

Aug 12, 2020

More savings mean bigger angpow with Volkswagen

Volkswagen Passenger Cars Malaysia (VPCM) is ushering in this Chinese New Year with special savings on selected models. Model Savings up to (RM) Monthly Repayment (RM) Polo 4,000 725 Vento Comfortline 8,000 783 Vento Highline 4,000 894 Golf R-Line 2,000 1,750 Tiguan Highline 2,000 1,675 Beetle Sport 5,000 1,505 Monthly calculation based on 9-year loan tenure with 10% down payment and based on 2.5% interest rate. Subject to terms & conditions while stocks last. For those considering the Tiguan (H

EricEric

Jan 3, 2020