I will be collecting my new vios next week.
So I can tell you from my experience...
First, most importantly, MUST get a good, recommended Sales
Engineer.
I have seen a number of those arrogrant, senior SE from Ubi
Showroom.
I got my SE recommended from someone, and luckily I am recommended
one good SE from Leng Kee..
You cannot use the PARF of 10K as downpayment, since in this case
it's car scrap due for 10 years. But you can use it to offset part
of ur new car price.
Downpayment for vios is $6300
Depending on ur intended loan amount & loan period from HSBC,
your SE normally provides you some cash rebate, in range of $300 to
$400.
Dont book if ur SE claims there is no such thing as cash rebate,
and claims that their commission is low..
SE earns commission too from HSBC car loan and AIG insurance.
To be entitled to HSBC rebates of $1500 from car price, need to
loan minimum 20K with loan period 1 year. But if you go for minimum
loan amt and loan period, then likely wont get much for the cash
rebate.
Currently HSBC has the 12mth interest rate rebate loan package
until 31 jan,
Where it's minimum 7 years loan, with minimum 70% loan of car
price.
Then only pay for total 6 years amount of interest over 7 year
period.
Effectively it's 1.89% rate over 7 years. But this requires loan
lock-in period of 2 years. If break the loan agreement within 2
years, not only there is the standard rule of 78 penalty, also
additional interest penalty.
So it's better off to take normal loan at 2.2 %, with lock-in
period 1 year.
Talk to your friend who bought Toyota, very important to get a good
Sales Engineer first.
