The stagnant wages coupled with both inflation and car-centric infrastructure has forced Malaysians to buy cars they appear to not be able to afford. It seems that having a 9 year car loan is getting more and more common.
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Are Most Malaysians Buying Cars on 9 Year Loans?
This stemmed from a post on X, claiming that a car dealer says their clients are taking 9 year loans. However, many say this has been a trend for quite some time now as the monthly installment rates are cheaper. But, with a longer payment period, the interests in servicing the loan will cost more.
Others state that it is normal to have a longer loan period, but having a full loan for 9 years is something that isn’t exactly recommended. It appears that having a deposit may make servicing a long term loan better.
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