Maybank Car Loan

[Raymondism]

Ok la... u just note it down which day deductions are done for whatever...

Eg for season parking using Giro even has a slight discount...

 

bank sends statement at the end of month ma... so just look though if the amount is correct...

 

 

i too lazy to go do Grio for season..

so i buy every 3 months... LOL

 

[Raymondism]

realise that this line is missleading but cannot edit anymore.

 

What i mean is my car loan is with Maybank.

 

anyway

wats there to discuss if left 8 installment...

just pay for this month...

then pay 3 months next

then wait 3 months and write a check for 3 installments..

then go maybank on the final month do final settlement

 

not as if 80 months

[Bluecollar]

sorry, but if you are lossing track.. then maybe you had over commit yourself financially.

 

anyway, did you check clearly what you sign up for?

 

did you signed up for those that tied you down for full duration of the loan either due to lower interest or cash back. in anycase, if you had decided to sign up for those type of loan. then too bad you have to fulfill the obligation since you had taken the advantage. I am with maybank. except for standard rule 78 no other penalty after 3 years. (mine is 3 years as there is some claw back from my initial loan)

 

Don't worry about it....

So far do not have any giro mode payment other than income tax and one insurance policy.

 

Confirm no cash back loan, but my interest was 2 plus percent during that time when COE and car price was low.

Anyway like I've say no issues, just stay the way it is.......

[Bluecollar]

sorry, but if you are lossing track.. then maybe you had over commit yourself financially.

 

anyway, did you check clearly what you sign up for?

 

did you signed up for those that tied you down for full duration of the loan either due to lower interest or cash back. in anycase, if you had decided to sign up for those type of loan. then too bad you have to fulfill the obligation since you had taken the advantage. I am with maybank. except for standard rule 78 no other penalty after 3 years. (mine is 3 years as there is some claw back from my initial loan)

 

 

Hi Joseph, can check how long are you already into your loan period and your total loan period.

Just want to know for future reference. PM me if you don't want to publish.

 

Thanks.

[Jazzmeup]

I agree with u.

Giro can be irritating. What with car payments, svc, telecoms, Hp bills, pub bills, housing loans etc.

Took me many years, but finally decided to total up the giro payments into one bank and put that sum into t bank for giro payments monthly. So, I hv one account for giro payments.

[Raymondism]

I agree with u.

Giro can be irritating. What with car payments, svc, telecoms, Hp bills, pub bills, housing loans etc.

Took me many years, but finally decided to total up the giro payments into one bank and put that sum into t bank for giro payments monthly. So, I hv one account for giro payments.

 

I use credit card to pay my petrol, cable tv, handfone,etc bill...

End of the day, i just pay the credit card

[Zniper]

Have been servicing my 6 years car loan diligently for 5 year 4 months now.

Except for two hiccups with nothing major due to traveling and work, I think can qualify myself as an average customer.

 

Recently inquire about full settlement and Maybank actually wanted to penalize for early settlement even I am left with 8 months into the loan period.

Have anyone had this experience with other banks or at least I can remember that some bank provide good will discount after number of years. Maybe wrong.

 

For people whom want to write about "YOU SHOULD KNOW WHAT YOU SIGN FOR!!!!" crap, don't bother.........

Feels that Maybank is just turning customers off.

Is no problem to complete the 8 months, just felt that could further simplified my life style without having to remember to pay and pay.

 

all banks has early release penalty.. juz depending on their rates or interest only..

[Pisces69]

Have been servicing my 6 years car loan diligently for 5 year 4 months now.

Except for two hiccups with nothing major due to traveling and work, I think can qualify myself as an average customer.

 

Recently inquire about full settlement and Maybank actually wanted to penalize for early settlement even I am left with 8 months into the loan period.

Have anyone had this experience with other banks or at least I can remember that some bank provide good will discount after number of years. Maybe wrong.

 

For people whom want to write about "YOU SHOULD KNOW WHAT YOU SIGN FOR!!!!" crap, don't bother.........

Feels that Maybank is just turning customers off.

Is no problem to complete the 8 months, just felt that could further simplified my life style without having to remember to pay and pay.

 

 

I think all finance companies wil penalise u for early settlement.

 

Its the standard procedure. I also never opted fr early settlement. Even last time I wan to sell car I wil wait fr loan to finish then sell.

 

Thats how these companies make extra money.

 

Always think carefully then decide how long u wan to loan. I never opted fr early settlement ever.

[Pisces69]

But left only 8 months the penalty should be minimal right?

 

 

Even 1 month early settlement wil hv penalty clause.

[Pisces69]

Not trying to argue or what.....

 

Yes, agree early redemption will have penalty, but 8 months left into loan closing????

 

Maybank is asking for an additional $1200.00 for early settlement????? My loan amount is only $974.00

 

No, don't get me wrong. Not frustrated at all No issues to complete until final payment. Just tot since have some spare time over the two weeks, if possible get this over and done with.

 

I know there is a standard clause and if I remember correctly there were issues previously and bank have revised lock down for 2 or 3 years. Rite???

 

No one have tried early settlement with only less than a year into the loan???

 

 

If there is no pressing reason to settle early, just carry on paying till the loan is fully paid. Why u wan to settle early?

[Pisces69]

pay full cash. no such problems.

 

 

When I bought my car, the dealer also dun wan me to pay full cash.

 

They penalise me the amt same as the interest I hv to pay fr a 5 year loan so I just might as well take the loan.

 

The dealer wil get a commission from the finance company fr arranging the loan n the dealer dun want to lose this money.

[Pisces69]

Speaking of Giro, something that irks me the most...... just sharing only.

 

Call me any names you want.....

Never like the idea of some one coming to you house and take as they like.

Granted giro comes in every fix date, but with so many things in giro with different deduction date; I find that I loses control over my finances.

Have to keep track what is coming and what is not due yet, as I do not have millions in my account for them to take and take.

However I am sure people here with financial prudence do take time out to check and check.

 

Giro should make my life easier, and not having to spend additional hours to keep track over again.

 

Yes, bottomline I am a lazy son of a gun..........

 

 

Since u say u have sufficient funds to settle full immediately, just put that in yr bank account fr the monthly GIRO deductions n forget about it.

 

Why so much hassle? U already took the loan for the agreed period at the agreed interest so just stick with it.

 

Unless u need to urgently sell yr car then u got no choice but to settle yr loan immediately so u can transfer the car to the new buyer. Then u hv to accept the penalty cos u r the one who want to change the terms of the loan.

[Pisces69]

Yes, dear..... I know now

 

 

This penalty is standard with most if not all finance companies n banks.

 

 

[Pisces69]

hahaha me too under Maybank...

 

 

Ya my current car also I loan tru Maybank. I never had any problems. Paid up all swee swee.

[Mllcg]

When I bought my car, the dealer also dun wan me to pay full cash.

 

They penalise me the amt same as the interest I hv to pay fr a 5 year loan so I just might as well take the loan.

 

The dealer wil get a commission from the finance company fr arranging the loan n the dealer dun want to lose this money.

 

i will walk away sia.

 

pay cash same price as loan?

[Pisces69]

i will walk away sia.

 

pay cash same price as loan?

 

 

Ya several dealers also same. Some wan to sell insurance together cos ty earn a commission on all these deals.

 

Anyway I was happy with the car n price so I just took the blardy loan but now its all paid up.

 

I admit I did squeeze the price quite a lot so ty had to earn something from somewhere lah. I not so bad. Let them earn a little lah.

[Mllcg]

Ya several dealers also same. Some wan to sell insurance together cos ty earn a commission on all these deals.

 

Anyway I was happy with the car n price so I just took the blardy loan but now its all paid up.

 

I admit I did squeeze the price quite a lot so ty had to earn something from somewhere lah. I not so bad. Let them earn a little lah.

 

i will do the "take it or leave it". for the loan.

 

insurance nvm. sometimes also a pain in the a$$ to get quotations. that one i dont mind getting dealer to help

[Bluecollar]

If there is no pressing reason to settle early, just carry on paying till the loan is fully paid. Why u wan to settle early?

 

Days of hardship because of credit card debts and other debts have given me a very good lesson.

Always clear my debts as soon as I financially can.... am sure most here people practice this as well.

Same here...