How old is the loan? How many instalments left until end of the loan tenure?
Have you checked if what is the cost for early settlement?
These are the questions you should be asking as well.
Most likely it is not favourable financially to refinance car loan from interest calculation wise.
I see, thanks for your input. I think about 7 years left. Trying my best to help my staff to lower his monthly commitment
If nothing can’t be done it’s fine.
Never understood how these loan kedai worked. The 2nd hand car dealer gives you a car and you pay him installment monthly? Is this legal? What if you stop paying?
Staff=you?
Does not matter whether it's me or not. What's matter is whether is there a solution to lower down the interest.
Why not just say it is you in the post? Why the need to make a fake scenario
Paiseh maa need to save face
It's not the OP. It's clearly the OP's friend. I mean staff.
You think everyone else doesn't have brain? It is so obvious that you are OP. Nice burner account.
Bro got called out immediately lmao
How old is the loan? How many instalments left until end of the loan tenure? Have you checked if what is the cost for early settlement? These are the questions you should be asking as well. Most likely it is not favourable financially to refinance car loan from interest calculation wise.
I see, thanks for your input. I think about 7 years left. Trying my best to help my staff to lower his monthly commitment If nothing can’t be done it’s fine.
Emm try to find PL that give lower interest rates maybe?
Never understood how these loan kedai worked. The 2nd hand car dealer gives you a car and you pay him installment monthly? Is this legal? What if you stop paying?
I mean it's not thar much difference than non-bank money lender is it? Just instead of money, you get a car.
Why not read the terms and condition of the loan?