Interest rates charged on Toyota, Honda and other cars.

As always, there must be a lot of misunderstanding between the salesman and the buyer in the process of purchasing a car. To clarify each one of them is pain in the neck, but we will list down the most common misunderstanding, which are:

  1. Interest Rate Charged
  2. Promotion availability
  3. Delivery Time

Fyi, interest rates charged on imported cars, for example, Toyota and Honda are not fixed to a specific number. To be clear on this issue, if your document is “strong”, you have a higher chance to get lower interest rate OFFERED by CERTAIN bank only.

For example: Current interest rates for Honda City are:

  1. 3.20% for 5 years
  2. 3.40% for 7 years
  3. 3.50% for 9 years

If you have “strong” documents, your interest rate for 9 years could possibly be 3.20%, again, depending on the bank itself.

Another issue is about delivery time and promotion availability. To give you a general idea on this, we call these two as variables. They are subjected to change through time. If you ask your salesman about the delivery time today, they will not be able to give you the exact date of your car delivery. Please understand that inventory availability is beyond salesman’s expectation.

Also, sometime, there’s a lack of flow of information between the company and the salesman, or between the bank and the salesman or etc. We believe that this issue needs to be fixed in order to maintain the higher level of satisfaction among buyers. If you notice there’s a difference on promotion at any other places, talk to your salesman directly, give him/her chance to find out the best deal for you. Not just run away! 🙂 Keep in mind that sometime your salesman could offer a better promotion.

Let’s solve this issue and understand each other and we wish all the best to all salesman and car buyers in Malaysia.


Thank you for reading!