Class95 Best car deals

[Solar]

We know that the above is actually car loan refinancing.. but what is the rate they are giving and is it really that good?

[Vit4wd]

It is basically cash back scheme where you take, for example, 110% loan.

 

For people whose car paper and body value combined is less than what they owe their bank, and yet still want to buy a car.

 

High interest rates definitely.

[Djcoolmax]

Not from what I heard from a couple of friends that took the deal. It's basically car refinancing but not of a high interest rate. Basically it's another bank that wants to get into the car financing market but due to the way how some car dealers are tying up with certain banks, it's not possible for them. What happened to my friends is that they will check if your car finance with the other bank fits their client profile and if so, they will take over the car financing (even pay penalties if required) and to you, you will also enjoy a lower interest rate.

[Soleution]

They just want to earn your interest...so if you are the type sure can pay on time every month, they will want you as a client, simple as that.

[Try_conti]

any idea what kind of interest figures we're looking at ?

[Djcoolmax]

not sure that's the figures this time round.. as now they have narrowed the cars to 2L and above. The last time round, my friends both drove 1.6L cars and they are looking at sub 2% interests. Much better than what you have from existing finance schemes.

[Qwert]

Whatever interest that they can offer, don't think it would be better than the 2.4% I currently have...

[Latio79]

My interest rate currently at 3.X%.. confirmed the transaction in Jan 06.

Quite lugi as current interest rate only around 2.X %.

 

Any bros think this current Class95 deal will benefit me?

Edited November 24, 2006 by Latio79

[Panda88]

are u referring to this one?

http://www.mediacorpradio.sg/bestcardeals/contest.htm

[Djcoolmax]

if you own a more than 2L car and registered after 2005, then why not submit the form and let the finance company get back to you. Doing this is FREE, so why wait? If you don't like the deal, walk away.

[Djcoolmax]

I believe if you have a 3.x interest rate, you would most likely enjoyed the cash rebates given. If you take that into consideration and factor it back into your interest payments, I believe you would have a interest rate at 2.x% as well.

[Tanjkp]

It's by City Bank. They will ask for ur financing doc to see if it is beneficial on both sides to close the deal. Like what is the present interest paying, what is amount of penalty if any(bank will bear). The last time when they launched aggressively to grap a lot of Toyota owners was offering 1.5% int plus $500 cash rebate. So most got it by paying lower $$ installment for the rest of the period plus cash back.