Bank Loan Or Direct From Car Dealership?

[RebelRed]

Hi

I am looking to buy a car from Chevrolet in Ubon Ratchathani. The dealership are offering 3.6% interest p.a. which would mean a hefty 21% over 6 years. The car value is 587k but I will end up paying close to 700k!!!

I was wondering if getting a loan from my bank instead would work out cheaper? Information I have been getting is that the banks charge the same.

Thanks

Liam

[timber]

We are talking to chev and they are talking rates of less than 3%

[Sharp]

Go with the dealership my friend....

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[Bpraim1]

Try another dealership, each sets it's own interest/finance

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[Tafia]

Try a bigger deposit to negotiate the interest down, I bought Mitsubishi and got 1.5% interest

[CharlieH]

be careful too ! as they will often lump everything up front and so there is no benefit whatsoever if you want to pay off early.

Edited August 4, 2012 by CharlieH

[Spoonman]

At that interest rate you are getting stooged, Chev don't even list a loan term of 6 years on their website.

http://en.chevrolet.co.th/pricing-and-offers/estimate-payments/index.html

[timber]

The chev dealer we went to have 6 year terms

[Pib]

Beware of loans which don't allow early payoff or extra payments without penalties--they are common in Thailand especially on cars. One of my in-laws recently found that out in buying her car.

Edited August 5, 2012 by Pib