Nissan Car Lounge - Almera, Juke, Latio, Qashqai, Sylphy, Teana Owners > Latio
Anyone took up HongLeongFinance Car loan for Latio in late 2006 ?
amazon:
Hi Bros,
Like to check anyone took up HongLeong Finance car loan in late 2006 from TC? At that time, the SE told me there are 2 loans packages from UOB and HongLeong Finance at 2.85%. Special tie-up between TC and the banks as the market interest then was 3.25%. I took up the UOB loan as the SE told me both loans was having the same penalty and clauses.
Recently, was thinking of redeeming the car loan now after 1.5yrs and was told by UOB (took up 10yrs loans), I need to pay early redemption penalty of 20% more on top of the Rule of 78 interest rebate. Lately, my friend highlighted to me that HLF does not has the 20% rebate, went to their website and found it's true that HLF calculated based on just Rule of 78 interest rebate.
Will like to confirm any bros here who took up the HLF in late 2006 whether is there any 20% penalty in their contract. Coz if there isn't, I'm gonna go to CASE to lodge a complaint on mis-information given by the TC SE!
Advise for new car buyers, only HLF compute based on just rule of 78 interest redemption. If HLF offer the same interest of say 2.38% or 2.5% which the other local big banks is offering now. Common sense tells us. GO FOR HLF!
FamilyManz:
I suggest u call up HLF to check.....
cos when i took my loan in Oct 2006.... i think i checked abt 3 banks.... all have the 20% thingy inclusive.
anyway, u sign black & white.... even mis-information... its ur own liability.....
maverick1975:
All car loans have the standard rule 78...
amazon:
--- Quote from: maverick1975 on May 20, 2008, 06:49:27 AM ---All car loans have the standard rule 78...
--- End quote ---
Only HLF followed strictly the Rule of 78 now. All the other "Bank Sharks" calculate interest rebate based on Rule of 78 + 20% interest rebate penalty! In the US, rule of 78 is deemed illegal.
amazon:
--- Quote from: FamilyManz on May 19, 2008, 11:01:29 PM ---I suggest u call up HLF to check.....
cos when i took my loan in Oct 2006.... i think i checked abt 3 banks.... all have the 20% thingy inclusive.
anyway, u sign black & white.... even mis-information... its ur own liability.....
--- End quote ---
You mean you did checked up HLF in late 2006 and it offered the same 20% penalty deal? If that is so, they may have tweaked their loans contracts and remove the 20% penalty now.
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