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Buying Car-bank Interest Rate?

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  1. #1

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    Buying Car-bank Interest Rate?

    Planning to buy a car, around HKD200,000. What would be a good financial institution / bank to borrow from and what are the interest rates now? Loan period planned around 48mth to 60mth.

    In a related topic, anyone has any review/ comments on Benz A150?


  2. #2

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    3-6% interest per year maybe depending on which bank you get the HP from. If your going to be buying from a dealer then they will sort it out for you and you should get a better price as they get comission from the bank.

    A150 looks weird in my opinion, it really doesnt look like a Benz, why are you going for a small car that costs so much. Why not get a C class or E class, they look much better. Anyways thats just my opinion. 2007 A150 are going for 148K - 170K (FYI)


  3. #3

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    Can't help with loan advice but the A series is good and the B series is better. They are compact and easy to park which is important when you've seen some of the multi-storey car parks. I guess everyone has there own preferences. But true, for the same cost you could get a C or E class model.


  4. #4

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    Thanks for your kind advice.
    Are you sure a C200K of around the same year (2006-2007) costs the same? I think for C200K at HKD150-170k, it's already 2002/3 model.
    I am currently driving a C200K provided by my company and this car is the use of my wife actually. Still, I think the A Class does looks nice though I prefer C class and so does she. Just that we want a Benz but new as possible (hopefully less maintenance, trouble-free etc)

    Any agent/ dealer to reco? Which banks are good?


  5. #5

    Join Date
    Jul 2006
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    hi wholsome,

    just wondering if you find any good dealer or know any bank which provide good interest rate for new car now? as we r oso in midst of souricng for me car, but prob b Toyota.

    thanks!


  6. #6

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    Hi Chubbysan,
    Still have not... let's keep in touch and share notes when we have more info. Either here or my email
    Cheers

    Last edited by shri; 08-01-2009 at 06:02 PM. Reason: Would recommend not using email addresses

  7. #7

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    Don't take a loan on a car... you borrow on items you expect to appreciate, not on items which will depreciate.


  8. #8
    Mat
    Mat is offline

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    Quote Originally Posted by shri:
    Don't take a loan on a car... you borrow on items you expect to appreciate, not on items which will depreciate.
    the voice of reason!

  9. #9

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    I agree with you.. but I do not want to put up so much cash on a car
    Are there different rates between new cars and 2nd hand cars?


  10. #10

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    Quote Originally Posted by shri:
    Don't take a loan on a car... you borrow on items you expect to appreciate, not on items which will depreciate.
    When buying a car from a dealer whether its new or 2nd hand, most people dont take a loan, its basically hire purchase type, you put 10% down and the rest of the balance is paid monthly, if you default, you loose your car thats all and get a bad credit report.

    or try this bank they have HP as well but for cars less than 6 years old.
    http://www.winglungbank.com/ibanking...ff_language=En

    or try this
    http://www.hitachi-capital.com.hk/eng/index.asp

    I have used both before for my cars but it was through a dealer.

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