Hi Bros,
Like to check anyone took up HongLeong Finance car loan in late 2006 from TC? At that time, the SE told me there are 2 loans packages from UOB and HongLeong Finance at 2.85%. Special tie-up between TC and the banks as the market interest then was 3.25%. I took up the UOB loan as the SE told me both loans was having the same penalty and clauses.
Recently, was thinking of redeeming the car loan now after 1.5yrs and was told by UOB (took up 10yrs loans), I need to pay early redemption penalty of 20% more on top of the Rule of 78 interest rebate. Lately, my friend highlighted to me that HLF does not has the 20% rebate, went to their website and found it's true that HLF calculated based on just Rule of 78 interest rebate.
Will like to confirm any bros here who took up the HLF in late 2006 whether is there any 20% penalty in their contract. Coz if there isn't, I'm gonna go to CASE to lodge a complaint on mis-information given by the TC SE!
Advise for new car buyers, only HLF compute based on just rule of 78 interest redemption. If HLF offer the same interest of say 2.38% or 2.5% which the other local big banks is offering now. Common sense tells us. GO FOR HLF!
