10% down payment for all new cars?
We just got a news about this. Would it be true? Government is trying to implement a new hire purchase act in which the car buyer will be required to pay 10% down payment for any new cars. How sad it could be, if this is meant to be true, for those who could not afford having to pay a big lump sum of down payment.
It will definitely affect the entire Malaysian auto industry. People will have to wait and accumulate their savings before they can even purchase a new car. It will also be sad for fresh graduates with a low income as they need to find a new alternative to solve this matter.