Proton Savvy, Booking Fee RM1k, Interest Rate: 2.9%. Book Now!

[John Smith]

I see another Proton Tiara in the horizon...

A quick check (today, 9/6/05, late afternoon) with 20 or so major
branches/dealers in town shows that the average booking is in the range of
0-5 units, shocking huh!!! this is more so considering MyVi booking
collection has already exceeded 30,000 (thirty thousand) units

Hmm.. Savvy just doesn't cut it.

[LSG]

suggest don't rush to place order. make more survey. i ask some forman and
they are terribly scared to handle renault car. (savvy using renault engine)

jangan jangan macam tiara first gen problem.

Post by John Smith
I see another Proton Tiara in the horizon...
A quick check (today, 9/6/05, late afternoon) with 20 or so major
branches/dealers in town shows that the average booking is in the range of
0-5 units, shocking huh!!! this is more so considering MyVi booking
collection has already exceeded 30,000 (thirty thousand) units
Hmm.. Savvy just doesn't cut it.

[SWC]

I thought this is a design jointly with VW???

Post by LSG
suggest don't rush to place order. make more survey. i ask some forman and
they are terribly scared to handle renault car. (savvy using renault engine)
jangan jangan macam tiara first gen problem.

Post by John Smith
I see another Proton Tiara in the horizon...
A quick check (today, 9/6/05, late afternoon) with 20 or so major
branches/dealers in town shows that the average booking is in the range
of 0-5 units, shocking huh!!! this is more so considering MyVi booking
collection has already exceeded 30,000 (thirty thousand) units
Hmm.. Savvy just doesn't cut it.

[news.tm.net.my]

I checked the car out yesterday, small lar compared to MyVi.I think MyVi is
a much better buy.

Post by SWC
I thought this is a design jointly with VW???

Post by LSG
suggest don't rush to place order. make more survey. i ask some forman
and they are terribly scared to handle renault car. (savvy using renault
engine)
jangan jangan macam tiara first gen problem.

Post by John Smith
I see another Proton Tiara in the horizon...
A quick check (today, 9/6/05, late afternoon) with 20 or so major
branches/dealers in town shows that the average booking is in the range
of 0-5 units, shocking huh!!! this is more so considering MyVi booking
collection has already exceeded 30,000 (thirty thousand) units
Hmm.. Savvy just doesn't cut it.

[michael]

Post by news.tm.net.my
I checked the car out yesterday, small lar compared to MyVi.I think MyVi is
a much better buy.

As usual with Proton, only the manual transmission version is currently available.

That will cut off 75% of interested buyers.

regards,
michael ... ***@afn.org

[jimi]

MyVi is much advanced technology than Savvy with lots of warranty. I love
it, it is so cool.

Post by michael

Post by news.tm.net.my
I checked the car out yesterday, small lar compared to MyVi.I think MyVi is
a much better buy.

As usual with Proton, only the manual transmission version is currently available.
That will cut off 75% of interested buyers.
regards,

[dave chiew]

Post by jimi
MyVi is much advanced technology than Savvy with lots of warranty. I love
it, it is so cool.

Someone called my car??? Hehehe. Did you hear I logged 15.49km per
litre (about 44 mpg) for the last tank using 80% city & 20% highway!

-dave chiew

[pluto]

"On Thu, 01 Sep 2005 17:26:45 +0800, dave chiew
<***@noplace.like.home> wrote/and/or quoted:
"

Post by dave chiew

Post by jimi
MyVi is much advanced technology than Savvy with lots of warranty. I love
it, it is so cool.

Someone called my car??? Hehehe. Did you hear I logged 15.49km per
litre (about 44 mpg) for the last tank using 80% city & 20% highway!
-dave chiew

geeeeeez k dave chiew,

Post by dave chiew
litre (about 44 mpg) for the last tank using 80% city & 20% highway!

that is "good" news especially the price of petrol is shooting up ;-)




cheers
pluto

[Bangsar_Village]

The Bank's fixed deposite is 3.0%
Car loan is 2.9%
Does that means, when buy car,
take loan is better than use cash?

-----------------------------
posted from Bangsar Village shopping, Tmnet wifi hotspot

[Bangsar_Village]

Post by Bangsar_Village
The Bank's fixed deposite is 3.0%
Car loan is 2.9%
Does that means, when buy car,
take loan is better than use cash?

EPF has even higher interest rate
(anyone know the rate?, 5.6% I guess?)
it is better to put all your money into EPF
to earn interest.

-----------------------------
posted from Bangsar Village shopping, Tmnet wifi hotspot

[winxp]

Post by Bangsar_Village
The Bank's fixed deposite is 3.0%
Car loan is 2.9%
Does that means, when buy car,
take loan is better than use cash?
-----------------------------
posted from Bangsar Village shopping, Tmnet wifi hotspot

Not really! if you make some calculation for say a period of 7 years.

The money you earn at 3.0% is much less than the money you pay at 2.9%.

Uncle Yap should be able to explain it better :-)

winxp

[Uncle Yap]

Post by winxp

Post by Bangsar_Village
The Bank's fixed deposite is 3.0%
Car loan is 2.9%
Does that means, when buy car,
take loan is better than use cash?

Not really! if you make some calculation for say a period of 7 years.
The money you earn at 3.0% is much less than the money you pay at 2.9%.
Uncle Yap should be able to explain it better :-)

Wow! so much faith eh in Uncle Yap?

Actually when people who make a 7 year hp (hire purchase) loan to you
at 2.9% p.a. they do not give you what is called in the financial
world, a rest ..Better to illustrate with an example

Let's say you borrow RM30K for 7 years.
They will add 7 x 2.9 = 20.3 % or RM6,090
The total 36,090 is divided by 7x12 to give RM426.64 for each of the
monthly instalments in the next 7 years.
Someone with a better calculator can work out that the effective
interest rate is somewhere in the region of 5% p.a. since towards the
end, the principal outstanding becomes progressively smaller but the
"no rest" clause means you continue to pay 2.9% on the initial loan
amount.

Then, you must factor in the other costs. As long as you remain
indebted, the financial institution can and often does force you (as
per their h.p. agreement) to maybe leave your registration book with
them, maybe buy motor insurance from their panel (so you cannot shop
around for a better deal or opt for a smaller insured figure as the
value of your vehicle gets depreciated year after year)

After all that, I still think motorists get a much better deal than in
the 70's and 80's when the hp interest was 10% ( the Hire Purchase Act
1967 does not impose any limit). It was only in the 90's that
competition between the financial institutions started pushing down
the hp rate from 10 to 9 to 8 to 7 to 6 to 2.9* now and the maximum
term from 3 years (for new vehicles and 2 for used vehicles) to 7 and
even 9 years now.

*At 2.9%, I think the car vendor will compensate the finance company
with maybe a cash commission as this seems rather low when you impute
tha amount of clerical work involved in the collection i.e. for 7
years, they must monitor your account, issue receipts, etc
Maybe someone who is currently in this industry can share their
experience



*************From Uncle Yap**************
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[winxp]

Post by Uncle Yap

Post by winxp

Post by Bangsar_Village
The Bank's fixed deposite is 3.0%
Car loan is 2.9%
Does that means, when buy car,
take loan is better than use cash?

Not really! if you make some calculation for say a period of 7 years.
The money you earn at 3.0% is much less than the money you pay at 2.9%.
Uncle Yap should be able to explain it better :-)

Wow! so much faith eh in Uncle Yap?
Actually when people who make a 7 year hp (hire purchase) loan to you
at 2.9% p.a. they do not give you what is called in the financial
world, a rest ..Better to illustrate with an example
Let's say you borrow RM30K for 7 years.
They will add 7 x 2.9 = 20.3 % or RM6,090
The total 36,090 is divided by 7x12 to give RM426.64 for each of the
monthly instalments in the next 7 years.
Someone with a better calculator can work out that the effective
interest rate is somewhere in the region of 5% p.a. since towards the
end, the principal outstanding becomes progressively smaller but the
"no rest" clause means you continue to pay 2.9% on the initial loan
amount.
Then, you must factor in the other costs. As long as you remain
indebted, the financial institution can and often does force you (as
per their h.p. agreement) to maybe leave your registration book with
them, maybe buy motor insurance from their panel (so you cannot shop
around for a better deal or opt for a smaller insured figure as the
value of your vehicle gets depreciated year after year)
After all that, I still think motorists get a much better deal than in
the 70's and 80's when the hp interest was 10% ( the Hire Purchase Act
1967 does not impose any limit). It was only in the 90's that
competition between the financial institutions started pushing down
the hp rate from 10 to 9 to 8 to 7 to 6 to 2.9* now and the maximum
term from 3 years (for new vehicles and 2 for used vehicles) to 7 and
even 9 years now.
*At 2.9%, I think the car vendor will compensate the finance company
with maybe a cash commission as this seems rather low when you impute
tha amount of clerical work involved in the collection i.e. for 7
years, they must monitor your account, issue receipts, etc
Maybe someone who is currently in this industry can share their
experience

Good explanation Uncle! I think is time for me to get a better calculator :)

But what surprise me is that your response is 4 hours earlier than my post
:-)

Thanks anyway !

winxp

[winxp]

Post by winxp

Post by Uncle Yap

Post by winxp

Post by Bangsar_Village
The Bank's fixed deposite is 3.0%
Car loan is 2.9%
Does that means, when buy car,
take loan is better than use cash?

Not really! if you make some calculation for say a period of 7 years.
The money you earn at 3.0% is much less than the money you pay at 2.9%.
Uncle Yap should be able to explain it better :-)

Wow! so much faith eh in Uncle Yap?
Actually when people who make a 7 year hp (hire purchase) loan to you
at 2.9% p.a. they do not give you what is called in the financial
world, a rest ..Better to illustrate with an example
Let's say you borrow RM30K for 7 years.
They will add 7 x 2.9 = 20.3 % or RM6,090
The total 36,090 is divided by 7x12 to give RM426.64 for each of the
monthly instalments in the next 7 years.
Someone with a better calculator can work out that the effective
interest rate is somewhere in the region of 5% p.a. since towards the
end, the principal outstanding becomes progressively smaller but the
"no rest" clause means you continue to pay 2.9% on the initial loan
amount.
Then, you must factor in the other costs. As long as you remain
indebted, the financial institution can and often does force you (as
per their h.p. agreement) to maybe leave your registration book with
them, maybe buy motor insurance from their panel (so you cannot shop
around for a better deal or opt for a smaller insured figure as the
value of your vehicle gets depreciated year after year)
After all that, I still think motorists get a much better deal than in
the 70's and 80's when the hp interest was 10% ( the Hire Purchase Act
1967 does not impose any limit). It was only in the 90's that
competition between the financial institutions started pushing down
the hp rate from 10 to 9 to 8 to 7 to 6 to 2.9* now and the maximum
term from 3 years (for new vehicles and 2 for used vehicles) to 7 and
even 9 years now.
*At 2.9%, I think the car vendor will compensate the finance company
with maybe a cash commission as this seems rather low when you impute
tha amount of clerical work involved in the collection i.e. for 7
years, they must monitor your account, issue receipts, etc
Maybe someone who is currently in this industry can share their
experience

Good explanation Uncle! I think is time for me to get a better calculator :)
But what surprise me is that your response is 4 hours earlier than my post
:-)
Thanks anyway !
winxp

Oops! correction, it should read 2 hours.

That damn calculator :(

[T-Junction]

Savvy looks fine but is it small and the price does not warranty buying the
product.

Post by John Smith
I see another Proton Tiara in the horizon...
A quick check (today, 9/6/05, late afternoon) with 20 or so major
branches/dealers in town shows that the average booking is in the range of
0-5 units, shocking huh!!! this is more so considering MyVi booking
collection has already exceeded 30,000 (thirty thousand) units
Hmm.. Savvy just doesn't cut it.