Possible to get a car loan without a guarantor?

[Davidklt]

Just a thought? Is it possible.

 

Assuming one has no bad records, stable income and high pay.

Edited January 2, 2008 by Davidtkl

[Ahyoo2002]

if no bad records, stable income and high pay, why need a guarantor?

[Galantspeedz]

becuz the loan quantum is higher than the pay?

[Davidklt]

I think some financial institution have this as SOP?

[Furrynadz]

if ur take home is 3x ur monthly usually will clear

[Galantspeedz]

Highly recommended but no such thing as SOP. depends on record of your loan executive too.. wether he got good track record anot, etc

[Typhoonz]

Why not? If you fulfill those requirements, the bank will be idiots to ask you for a guarantor...

[Ahyoo2002]

he said high pay, so I assume pay is not a problem.

[Galantspeedz]

high pay but it depends on the loan quantum too.

 

Eg: earn 20k a month but buying a 400k car.

 

2 quantum here,

 

1) is the monthly pay to the monthly instalment, Usually not above 30%

 

2) the loan amount to the mkt value/cost of car which should not be more than 80%.

 

Amount quoted is based on my previous experience but is subject to changes (market sentiment)

[Imamiah]

of course can lah. as long as can meet the criteria set by loan company.

FYI, my previous 3 loans all no guarantor.

[Tanjkp]

Me another to prove tat no guarantor required after several change of N/car since 90s.

[Beei]

  Quote

Just a thought? Is it possible.

 

Assuming one has no bad records, stable income and high pay.

I took car loan without any guarantor.. Dun see why it is impossible..

[tinhow]

I'm facing this problem as well. I got a stable income, and my monthly repayment just 810.

 

Monthly income around 2.9k-3.2k (net pay), it just not more than 30% of my salary.

[Ingenius]

I think if take high loan will need a guarantor.

[RadX]

IMO, with that amount of salary, one should not even think of driving.

[F355]

I have said this many times before.

 

My advise is to try asking in other forums cos the members here never take car loan all pay full cash .

[RadX]

  On 8/13/2015 at 5:43 AM, F355 said:

I have said this many times before.

 

My advise is to try asking in other forums cos the members here never take car loan all pay full cash .

 

 

elitist much u

[Mockngbrd]

  On 8/13/2015 at 5:43 AM, RadX said:

 

 

elitist much u

kns all her the equitist