I saw this advertisement at Ambank @Puchong branch.
What is AMCB Car Refinancing Scheme? I thought we are only refinance housing loan. Why we need to refinance car loan? The word of ‘Refinance’ always links me to ‘lower interest rates save more money’ and ‘use other people’s money to grow money faster’. Does the car refinancing scheme meets the same objectives too?
Here are some of the benefits of AMCB car refinancing scheme:
- To get fast cash
- Ownership in JPJ registration card remains
- Insurance NCD / NCB rates remains
If you are interested to know how much money you can get by refinancing your car, try Ambank Refinance Car Loan Calculator. The results will show you the loan particulars, expenses/charges and cash amount to you.
Notes: Refinancing Interest Rates below 4.8% p.a. are negotiable. Please visit the nearest Ambank branches and negotiate for the best interest rates.
Basically, the interest charged (4.8%) is not an attractive rate. It might be even higher than your initial car loan package. Therefore, it doesn’t make sense if you refinance car loan to save interest. Unless, you need extra money urgently to:
- Help your child to pursue education at overseas
- Grab a golden investment/business opportunity
- Restructure your financial planning by reducing the car loan installment
- and etc.
Anyway, car refinancing is still an option to source for extra money.
