Car loan, pls advise

[GK-Mok]

Hi bros,

 

I'm keen to purchase a 2nd hand car from a direct owner. Wonder if I can get my own loan rather than going thru an agent?

Which are the bank or finance company that allow us to deal directly, what is the procedure? what documents do we need?

 

If going thru an agent, what is the fee do we need to pay?

 

Thanks in advice

[Lamemonster]

Hi bros,

 

I'm keen to purchase a 2nd hand car from a direct owner. Wonder if I can get my own loan rather than going thru an agent?

Which are the bank or finance company that allow us to deal directly, what is the procedure? what documents do we need?

Normally will let agent do as they are have good repo with banker so they will approve higher than u go apply urself.

If going thru an agent, what is the fee do we need to pay?

 

About 500 agreement fee ( depends on dealer also )

Thanks in advice

 

 

 

my 2 cents

[Shanhz]

ask agent to do loan, should not pay them anything they are already earning from loan.

 

you can also call this co.. www.mymotoring.com.sg

 

they handled my insurance many many yrs leow.. loan also they do

[Davarlaw]

Loan depends on your income group and bank policy .

[Verve]

from your post seems u need to do a little shopping

 

understand how the interests are calculated for diff co and exit fees and etc.

 

next pls don t commit more than 70 percent loan for safety reasons

[Fattychubby]

try http://www.skyway.com.sg/. they offered loans from a few financer.. i dont remember paying any admin fees when i got my car thru a pte owner.. loan was approved within 1 day. just went down to office and sign the HP forms..

highly recommended

Edited May 4, 2010 by Fattychubby

[Amazon777]

There are few players in the market. Go direct to them, can check out Alpine Credit, Swee Bee Trading Co Pte Ltd, Orchard Credit etc. Some of them even give u a cut of the loan commission of around 1% of loan amount. Some are recommended by banks to act on their behalf for loan application/settlement. For eg, if you want to take DBS loan, DBS will ask you to call Swee Bee. I have used above finance co. service before for my previous used cars. Think Hong Leong Finance is one of those that accept direct customer. NO admin fee. Last year I took a $75K loan for my used car and I get 1% rebate from my freelance car broker, who was paid by the finance co.

 

http://www.sgcarmart.com/ads/tokyo_leasing/usedcar_cal.php

Edited May 4, 2010 by Amazon777

[Davidklt]

You can call up the bank directly and ask them to arrange. No charges.

[Agalvilaku]

What is the problem in accepting loan >70%? i too planning to go for a used car with 90% loan

[Redplanet]

What is the problem in accepting loan >70%? i too planning to go for a used car with 90% loan

 

no problem...as long as you happy can liao...

[Marymary]

Bank had rejected my loan ... anyone can tell me what are the interest rates for inhouse loan now?? Is there a difference in interest rate for new car and used car???

[The_Bear]

Hi bros,

 

I'm keen to purchase a 2nd hand car from a direct owner. Wonder if I can get my own loan rather than going thru an agent?

Which are the bank or finance company that allow us to deal directly, what is the procedure? what documents do we need?

Better thru agent, most banks dun deal directly with consumer for car loans You'll prolly proof of income. The agents will take their cut from the loan so dun worry about that.

 

If going thru an agent, what is the fee do we need to pay?

Since you are buying from the direct owner, there should not be an agreement fee.

Even if you are buying from dealer, the quoted price is final and there is no such thing as agreement fee. The last time a salesman mentioned agreement fee, I told him " I agree to buy, you pay me issit?" Thanks in advice

 

[The_Bear]

What is the problem in accepting loan >70%? i too planning to go for a used car with 90% loan

 

at 90% loan, the value of loan will be significantly higher than value of car. meaning if you are selling the car later, you will probably have to top up cash to cover the loan.

[Sleepy-T]

at 90% loan, the value of loan will be significantly higher than value of car. meaning if you are selling the car later, you will probably have to top up cash to cover the loan.

there a lot of people taking 100% loan

[The_Bear]

there a lot of people taking 100% loan

 

There are alot of dead people?

[Sleepy-T]

There are alot of dead people?

have to ask Radx, He able to go for holiday wat do u think

[The_Bear]

have to ask Radx, He able to go for holiday wat do u think

re-curring business? Repeat customer?

[Sleepy-T]

re-curring business? Repeat customer?

how could he have any repeat customer,