YOURSAY'Mustapa is perplexing to surprise Malaysians with this inconceivable story that prolonging the amends duration would ease the burden of tall automobile prices.'
'Longer repayments won't compromise tall automobile cost woes'
Kgen:Our 9 years for automobile loans (probably the longest in the world) is already untenable as most monetary institutions have realised.
The reason is that the market worth of the automobile falls below the remaining loan balance after 5 years, so borrowers competence only let the automobile be repossessed instead of continuing to compensate the loan.
And International Trade as well as Industry Minister Mustapa Mohamed is suggesting that the loan duration be increasing further. Either he is dumb, or insensitive, to the predicament of automobile buyers.
How can stretching out repayments be the solution to tall automobile prices? Do we want to compensate twenty years for the car? Shall we nap in the automobile instead of buying the house?
Changeagent:Mustapa competence consider that lengthening the duration for automobile loan repayments can help revoke the burden of tall automobile prices, though the reality is that it will have little disproportion to the student's disposable income levels.
For example, the brand new Proton purchased for RM60,000 paid over 9 year! s during the devalue seductiveness rate of 3 percent would cost the buyer around RM725 in monthly mortgage.
If the amends duration is lengthened to! twelve years, the monthly payments would work out to be RM594. The disproportion is the small RM131 in disposable income per month over the hold up of the loan, though RM7,260 in extra seductiveness payments over the a single some-more three years in amends period.
This frequency sounds similar to the good recipe during all by the supervision for shortening the public's cost of vital pressures.
Aries46:Changeagent, your e.g. of RM60,000 hire squeeze loan during 3% seductiveness would incur the following sums as interest:
Repayment over 9 years would entail an seductiveness of RM18,300, that functions out to 30.5% of the element loan amount, whilst amends in twelve years would entail an seductiveness of RM25,536, that functions out to 42.5% of the element loan amount.
Mind-boggling figures no doubt, though if this is Mustapa's pill to beat the flay of unreasonable supervision automobile taxes as well as prices that snatches away the hard-earned income of poor, he ought to be abashed of himself.
Aries46:Obviously Mustapa is perplexing to surprise Malaysians with this inconceivable story that prolonging the loan amends duration would ease the burden of tall automobile prices.
'Longer repayments won't compromise tall automobile cost woes'
Kgen:Our 9 years for automobile loans (probably the longest in the world) is already untenable as most monetary institutions have realised.The reason is that the market worth of the automobile falls below the remaining loan balance after 5 years, so borrowers competence only let the automobile be repossessed instead of continuing to compensate the loan.
And International Trade as well as Industry Minister Mustapa Mohamed is suggesting that the loan duration be increasing further. Either he is dumb, or insensitive, to the predicament of automobile buyers.
How can stretching out repayments be the solution to tall automobile prices? Do we want to compensate twenty years for the car? Shall we nap in the automobile instead of buying the house?
Changeagent:Mustapa competence consider that lengthening the duration for automobile loan repayments can help revoke the burden of tall automobile prices, though the reality is that it will have little disproportion to the student's disposable income levels.
For example, the brand new Proton purchased for RM60,000 paid over 9 year! s during the devalue seductiveness rate of 3 percent would cost the buyer around RM725 in monthly mortgage.
If the amends duration is lengthened to! twelve years, the monthly payments would work out to be RM594. The disproportion is the small RM131 in disposable income per month over the hold up of the loan, though RM7,260 in extra seductiveness payments over the a single some-more three years in amends period.
This frequency sounds similar to the good recipe during all by the supervision for shortening the public's cost of vital pressures.
Aries46:Changeagent, your e.g. of RM60,000 hire squeeze loan during 3% seductiveness would incur the following sums as interest:
Repayment over 9 years would entail an seductiveness of RM18,300, that functions out to 30.5% of the element loan amount, whilst amends in twelve years would entail an seductiveness of RM25,536, that functions out to 42.5% of the element loan amount.
Mind-boggling figures no doubt, though if this is Mustapa's pill to beat the flay of unreasonable supervision automobile taxes as well as prices that snatches away the hard-earned income of poor, he ought to be abashed of himself.
Aries46:Obviously Mustapa is perplexing to surprise Malaysians with this inconceivable story that prolonging the loan amends duration would ease the burden of tall automobile prices.
He wanting to mention that fluctuating the loan duration would simultaneously hike up the seductiveness payable.
Unlike housing loans, the automobile hire squeeze intrigue is rather infamous in that seductiveness is practical during the really onset during the flat-rate multiplied by the amends term.
For instance, upon the loan of RM100,000 during 4% seductiveness repayable in 10 years, the seductiveness amounts to RM40,000. On day one, the loan of RM100,000 is computed as RM140,000 as well as is mandatorily repayable in 120 monthly installments.
Even if a single decides to have an early allotment he would still be under obligation for the total of RM140,000 reduction the negligible total allowed as rebate for early settlement.
Pray t ell, how this would equivalent the burden of long-suffering Malaysians who have been victimised in the name of safeguarding the national car?
Odin:First, let's get a single thing straight. As I've pronounced before, we am not the supporter per se of Pakatan Rakyat; therefore, any comments we have criticising Umno-BN have been made from neutral ground.
This is nonetheless an additional example of Umno ministers talking pristine rot. Extending the amends duration merely reduces the quantum of the monthly installment.
This strong benefit is negated most folds by the longer duration the patron is the debtor as well as the bigger volume he has to compensate in interests.
You do not have to be the mathematician, conjunction an Economics connoisseur nor an accountant, to figure all this out. What has eaten in to Mustapa's brain?
Mushiro:This was the really dumb answer by our apportion to compromise the tall automobile cost problem. Drag the remuneration duration longer as well as let the bad buyer compensate some-more as well as suffer. He doe! s not want to revoke the excise duties upon cars as Umno cronies will suffer.
Guna Otak Sikit:Longer amends duration to overcome the tall prices of cars? This is the best way to lose even some-more income as well as to use up your future gain now. What the stupid thought from the so-called minister.
The apportion knows entirely well that longer amends duration only adds some-more debt to borrowers. He could not care reduction as long as BN is in power.
Leongan:In calculating monthly amends total for automobile installment, the really simple method is used - (Loan total x no of years x seductiveness rate) / No of months - so the longer we borrowed, the some-more seductiveness we pay.
By prolonging the amends period, a single will end up profitable some-more during the end. Which maths clergyman taught we that we will compensate reduc! tion if we lengthen the loan period?
ThisLandIsMine:BN, we really enjoy to see the miseries of the rakyat in profitable tall taxes when they squeeze cars. These annul all the fuel we subsidise.
Furthermore, banks have been financing the taxed portion that is imposed by the supervision as well as earning substantial interests from this.
This multiplying effect result in silent pang faced by the rakyat whilst the fuel subsidies have been progressively withdrawn. No consternation automobile financing is the tip income earner for banks.
Absalom:How Malaysia continues to survive with such stupid group in assign is a single of those mysteries of life. - Malaysiakini
Read More @ Source For instance, upon the loan of RM100,000 during 4% seductiveness repayable in 10 years, the seductiveness amounts to RM40,000. On day one, the loan of RM100,000 is computed as RM140,000 as well as is mandatorily repayable in 120 monthly installments.
Even if a single decides to have an early allotment he would still be under obligation for the total of RM140,000 reduction the negligible total allowed as rebate for early settlement.
Odin:First, let's get a single thing straight. As I've pronounced before, we am not the supporter per se of Pakatan Rakyat; therefore, any comments we have criticising Umno-BN have been made from neutral ground.
This is nonetheless an additional example of Umno ministers talking pristine rot. Extending the amends duration merely reduces the quantum of the monthly installment.
This strong benefit is negated most folds by the longer duration the patron is the debtor as well as the bigger volume he has to compensate in interests.
You do not have to be the mathematician, conjunction an Economics connoisseur nor an accountant, to figure all this out. What has eaten in to Mustapa's brain?
Mushiro:This was the really dumb answer by our apportion to compromise the tall automobile cost problem. Drag the remuneration duration longer as well as let the bad buyer compensate some-more as well as suffer. He doe! s not want to revoke the excise duties upon cars as Umno cronies will suffer.
Guna Otak Sikit:Longer amends duration to overcome the tall prices of cars? This is the best way to lose even some-more income as well as to use up your future gain now. What the stupid thought from the so-called minister.
The apportion knows entirely well that longer amends duration only adds some-more debt to borrowers. He could not care reduction as long as BN is in power.
Leongan:In calculating monthly amends total for automobile installment, the really simple method is used - (Loan total x no of years x seductiveness rate) / No of months - so the longer we borrowed, the some-more seductiveness we pay.
By prolonging the amends period, a single will end up profitable some-more during the end. Which maths clergyman taught we that we will compensate reduc! tion if we lengthen the loan period?
ThisLandIsMine:BN, we really enjoy to see the miseries of the rakyat in profitable tall taxes when they squeeze cars. These annul all the fuel we subsidise.
Furthermore, banks have been financing the taxed portion that is imposed by the supervision as well as earning substantial interests from this.
This multiplying effect result in silent pang faced by the rakyat whilst the fuel subsidies have been progressively withdrawn. No consternation automobile financing is the tip income earner for banks.
Absalom:How Malaysia continues to survive with such stupid group in assign is a single of those mysteries of life. - Malaysiakini
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