As the economy downturn, many industry and factory closing down, people been fired, consumer spending power become less, property left unsold, car production and demand become less, investor afraid to do investment, bank saving interest rate become less…What else?
No country is safe now. Those industrialized countries have all officially declared they are in recession for e.g. USA, UK, Germany, Japan, Hong Kong, China…Thus, developing countries aren’t doing too great either.
Why I Say China Great Future?
Previously, local car interest rate has risen up to 4.1% and above. For foreign cars, interest rate was around 3.5%-3.7%. But car prices will be adjusted down to counter the rate increase.
Will Malaysia car price drop? I think it’s a great time to buy car as many manufacturer have giving discount & great promotion to clear stock. The reason, economic crisis, consumer’s spending power become less, thus they need to reduce car price to attract people to buy.
Some people said that due to weakening economy as the banks is losing money they will increase the interest rates. Yet, I feel that world economy is bad, and many other countries have reduced their interest rates. I’m guessing that the Malaysian banks won’t increase the interest rates this year.
I just want to become a potential owner of a new car, i would suggest saving more cash that can increase your down payment, thus reducing the amount and duration of loan, hence reducing the interest that you have to pay.
How You Calculate Your Car Interest Fee?
Singapore is a small country but they got lot of money, so they can develop their country in just 10 years while Malaysia is a big country so we need more than that to develop and become rich. Singapore is rich in human resources and good in financial management whereas Malaysia “NO”. If the natural resources in Malaysia are well managed, the situation would be quite different.
Singapore does not have any natural resources and only limited space for building. They even do not have enough water and buy from us. Singapore government is very clever and know to make money from people. Haha…Singapore buy only 3 cents per 1000 gallons of water from Malaysia, after “clean ” it up and sold to people for 50-60 cents per 1000 gallons, very easy to be rich, right?
Other Points: Why Singapore More Richer ?