Car loan application 2012

2012 is not a good year to start off. Bank is setting up a new set of rules and regulations that would strictly control the disbursement of loan. It’s no longer easy to get a loan approval these days. Previously, they would use basic income as part of the calculation to get the maximum of loan one could apply, however, they are now using the net income as a point of reference. This would significantly decrease the chance of getting loan approval if you have a high commitment. In addition, they would also take your marital status into account.

PS: Hmmmmm. For example, one who has a basic salary of RM 1,500 could purchase a Perodua Myvi, but now, that person might not be able to get it. If his basic is around RM 2,00o, then he might have a chance.