Taking out a Car Loan Through US Bank

Us bank car loans

Outside of purchasing a home, the biggest investment that many people will make is purchasing a car. Since buying a new car often costs tens of thousands of dollars, it would make sense in many instances to take out an auto loan instead of paying for the whole car in cash. When looking to take out an auto loan, a great place to start is with US Bank.

Us bank car loansUS Bank is a Minneapolis-based commercial bank that has been in business for nearly 50 years. The company currently has over 65,000 employees, many of which work in consumer-lending roles, which include providing auto loans. This has helped to make the company one of the largest providers of auto loans in the country.

What makes US Bank one of the top auto loan lenders in the country is their very attractive terms to car buyers. The company is unique in that it will provide up to 115% financing of the purchase price of the car. This should provide you with the capital necessary to pay for all of the title fees and sales taxes that come with buying a new car. Furthermore, the company offers longer-term car payment options, which can extend up to six years. This will greatly reduce the monthly payment that you incur compared to getting a four or five year car loan.

Us bank car loansThe company is currently offering a very attractive loan payment offer. For car loans up to $100,000, the company will provide an interest rate of 2.49%. This will help to ensure that you are able to get a car loan at an affordable level, regardless of your personal income situations. The lowest offered interest rate is currently available to consumers with good credit histories.

If you are looking to take out an auto loan from US Bank, you will be able to do so through any bank branch located across the country. You can also start and finish the car loan application online through the US Bank website.

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Hong Leong Bank Malaysia - Car Loans | Auto Loans

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Us bank car loans

Us bank car loans Us bank car loans

Us bank car loans Us bank car loans

Us bank car loans

Us bank car loans

Say Hello to that new car feeling.

  • Us bank car loans Competitive loan packages
  • Us bank car loans Convenient repayment options
  • Us bank car loans Motor Insurance and Road Tax renewal services

Caters To All New And Used Vehicles

New, secondhand or reconditioned.

Easy Payment Of Your Instalment Online

Hong Leong Connect, interbank GIRO (MEPS IBG), standing instruction facility (CASA auto debit), ATMs, CDMs or Hong Leong Bank branches.

Stay In Control Budget Plan With Ease

Repayment period up to 9 years and up to 90% margin of financing.

Choose between fixed or variable rate financing packages

Fixed Rate Financing

Variable Rate Financing

  • Based on fixed interest rate flat and not exceeding 10% p.a.
  • Based on a margin above the Bank’s Base Lending Rate (BLR) and not exceeding 17% p.a.
  • Amount of each instalment or the number of instalments shall be revised whenever there is a BLR revision

Late Payment Interest

  • 2% above prevailing rate of term charges

Early Loan Settlement

  • No penalty fee
  • Net balance due less statutory rebate for term charges
  • No penalty fee
  • Net balance amount outstanding due plus accrued term charges up to the next payment due date

Car Loan Installment Calculator

  • Individual customers aged 21 to 70 years old
  • Sole Proprietorship Partnership
  • Private Limited and Public Listed Companies

To apply, submit the following documents:-

  • NRIC
  • Driving License
  • Latest 3 months salary slips
  • Latest Borang BE (supported with tax payment receipt)
  • Latest EPF statement with at least 6 months contribution
  • Latest 3 months bank statement / saving passbook
  • Letter of employment
  • NRIC
  • Driving License
  • Latest 6 months bank statements or savings passbook.
  • Latest Borang B (supported with tax payment receipt)
  • Business Registration Form D

Sole Proprietor / Partnership

  • Business Registration Form D
  • Latest 6 months business bank statements
  • Business proprietor / partner(s) NRIC
  • Certificate of Incorporation
  • Form 24 49
  • Memorandum and Articles of Association (MA)
  • Latest 6 months business bank statements
  • Director NRIC

If purchasing a new vehicle - purchase order

If purchasing a used vehicle - registration card

Q: What is this product about?

A: This is a hire purchase facility, offered to you to part finance the purchase of a vehicle. Interest on the facility will be charged at a fixed interest rate or at a variable interest rate quoted at a margin above the Bank’s Base Lending Rate (BLR). Upon full repayment of the amount owing under the Hire Purchase agreement, ownership of the vehicle will then be transferred to you.

A: This product is opened to all individual and company applicants.

  • Individual applicants: aged 21 to 70 years old
  • Company applicants: sole-proprietorship, partnerships, private limited or public listed compaanies

Q: What are the terms of financing?

A: The maximum margin of finance is up to 90% of seller’s invoice with repayment period up to 108 months. All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Hong Leong Bank

Q: What vehicles do you finance?

A: We cater financing for all types of new and used vehicles; inclusive of reconditioned type vehicles.

Q: Can I have a co-borrower on the loan?

A: Unfortunately, this is prohibited under the Hire Purchase Act. However, a guarantor can be provided if required. Under specific circumstances as prescribed by the Bank policies, the Bank may also request for a Guarantor directly.

Q: How will I know the status of my loan application?

A: Finding out if your car loan has been approved can be quite exciting, and we understand that this is something you just can’t wait for. To make sure you receive the news as soon as possible, our staff will contact you once the loan is approved.

Q: How long is the loan approval good for?

A: Approval is good for thirty (30) days. But be aware, if we do not hear from you after thirty (30) days, Hong Leong Bank reserves the right to withdraw the loan approval and /or vary the loan terms and conditions without prior notice.

Q: How do I make my monthly payments?

A: Payments can be made online via Hong Leong Connect, interbank GIRO (MEPS IBG), standing instruction facility (CASA auto debit), ATMs, CDMs or at any of our Hong Leong Bank branches.

Q: What happens if I settled the loan earlier than the date originally agreed upon?

A: For fixed rate financing, you are entitled to a rebate on the term charges for variable rate financing, the settlement amount would be the outstanding amount due plus accrued term charges up to next payment due date. There is no penalty fee for early loan settlement

Q: What if I fail to fulfil my obligations?

A: A penalty is imposed on overdue instalments with interests charged on a daily basis. For fixed rate financing, the maximum charge allowed is 8% on overdue instalment, whilst for variable rate financing; it is 2% above the prevailing rate of term charges.

Q: How can I find out more about your products?

A: For more information on our financing products, leave us your contact information using the “I’m interestedà” button on the website. Alternatively, you may call 1-800-38-8888 or drop by your nearest Hong Leong Bank branch today.