How much monthly car loan do you need to pay for a Proton X50 when you can buy one with a monthly income of RM2,000?
A car salesman successfully helped a customer with a monthly income of RM2,000 to apply for a bank loan to buy a Proton X50, which resulted in the owner having to pay RM1,070 per month to pay for the car, leaving him with less than RM1,000 per month to support his wife and children.
If you are planning to buy a Proton X50, here is how you can figure out how much you need to pay for the car loan every month.
There are 4 trim levels of Proton X50, namely 1.5T Standard, 1.5T Executive, 1.5T Premium and 1.5 TGDI Flagship, and the prices in West Malaysia are RM86,300, RM93,300, RM101,800 and RM113,300 respectively.
Here is a simple calculation of the monthly car loan for the Proton X50 based on the price of the car in West Malaysia. The car loan interest rate is calculated at 3.00% p.a. with a 90% loan.
Proton X50
1.5T Standard
Loan for 7 years: RM1118
Loan for 9 years: RM913
1.5T Executive
Loan 7 years: RM1209
Loan for 9 years: RM987
1.5T Premium
Loan 7 years: RM1319
Loan 9 years: RM1077
1.5TGDI Flagship
Loan 7 years: RM1468
Loan 9 years: RM1199
The information is for reference only, the actual car loan installment needs to be determined based on the interest rate of the car loan obtained by the borrower, the amount of car insurance and the first period of car purchase.
