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RHB Bank Car Loan Refinance

 


Whether you are an individual wishing to improve your monthly cash flow, or a business owner planning to raise capital for new ventures, RHB Bank have the solution to get you going. You can refinance your existing car loan from other banks with salient benefits :

• Free moving cost
• Customer can improve their cash flow with lower monthly conditions
• Enjoy prevailing new car rate
• Extended loan repayment of up to 108 months

Customer with a brand new car when first purchase with at least 1 year good track record are eligible to refinance their car loan. Used car / second hand car / re-condition car are not eligible.

Financing tenure of the car are up to 12 years at the end of tenure of refinancing or maximum tenure is 9 years (108 months) whichever is lower and margin of financing are up to 90% of the vehicle appraised value (where market value of the car is higher than the outstanding amount) or up to 100% of the balance outstanding with the existing financier.

 
 

There are 2 types of car loan refinancing packages offer by RHB, Non Cash Out and With Cash Out. For non cash out type, the facility is extended solely to take over the existing auto loan facility with no incremental amount. For the cash out type, the facility redeems the existing auto loan and provides additional line amount up to 90% of the estimated market value of the motor vehicles, or the facility provides cash for unencumbered cars.

A penalty fee equivalent to the free moving cost shall be charged on early settlement within 2 years of disbursement. Interest rate are at par with the actual market rate quoted for financing of new cars.

Please refer to RHB Auto Finance Centres for the latest rates offered.


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