Do you have debt? Do you have a certain amount money? If you have a car, still under monthly instalment and have a certain amount of money as your saving plan, don’t you think to have a early settlement for your car? If yes, I think you should settle your car debt by cash. Maybe you think that you will loss your saving. What about if I say that you will save your money by have avoid any interest that imposed to you if you paid your instalment regularly.
It is OK if you want to pay your car monthly instalment regularly. Me too. But what I’m trying to say are, if you have many cash on your saving account, why not you make an early settlement for your car. Before this, I’m trying to pay my car monthly instalment and I go to seek the clerk at the desk(Bank) to know my car instalment balance. After done it, I ask the clerk about this matter. I ask if I can have early settlement and got any rebate or discount if I to do. Clearly there is a way to pay lump sum and have a discount for it.
Car Loan Early Settlement Malaysia
If you make a car loan contract for 9 years. Usually in Malaysia, a car loan can up until 9 years. And you already made a payment for 4 years. There a balance for 5 years to go. If you have a cash to make lump sum, you should try this. For example base on the above criteria. Your car loan total is $30K. You already pay for 4 years. You got another 5 years to go. Today you want to make full settlement. So your car loan balance total are $24K. The total amount that you must pay if you regularly pay for 9 years are $42K base on car interest loan at 4% annually. Do you know if TODAY you want to pay full settlement, you only pay for $20K instead of $24K. So you got save up $4k. For Malaysian, you got save for $4K is a big money yahh.
So how this calculation has been made. Is the any calculator to do so? The answer is YES. The calculator is called Car Loan Settlement Calculator. This calculator is create to help payer to pay car loan early full settlement and to know how mush money that they can save. For those who want to try and to know how much money that they can save by doing car loan early settlement can visit this site {Car Loan Calculator}