Topic
#kpdn
2 articles
Car Loans in Malaysia 2026: The Early Settlement Rebate Is Gone, and a 3% Car Loan Is Really 5.5%
The Hire-Purchase (Amendment) Act 2026 came into force on 1 June 2026 and quietly deleted the two things every Malaysian thought they understood about a car loan. The flat rate is gone, replaced by an effective interest rate on a reducing balance. And the statutory early settlement rebate is gone with it, which sounds like a loss and is not. Bank Negara Malaysia's own consumer guide works the arithmetic: borrow RM100,000 over nine years at a flat 3% a year and you pay RM1,175.93 a month and RM27,000 in interest, exactly the same as a loan quoted at an effective 5.5%. The catch is timing. Providers have until 31 March 2027 to switch their systems, so a loan signed today may still be an old one, and the only way to know is to ask.
Tribunal Tuntutan Pengguna 2026: Claim Up to RM50,000 for RM5, With No Lawyer in the Room
A shop keeps your deposit. A contractor takes the money and never finishes. A phone comes back from repair worse than it went in. Most Malaysians write it off, because the alternative sounds like hiring a lawyer. It is not. The Tribunal for Consumer Claims Malaysia, set up in 1999 under the Consumer Protection Act, hears claims of up to RM50,000 for a filing fee of RM5, registers the claim the same day it is filed, aims to hear and settle it within 60 days of the first hearing, and hands down the award on the hearing day itself. Lawyers are not allowed to represent either side. The award counts as an order of the Magistrates' Court, and ignoring it for 14 days is a criminal offence. Here is how it works, and the list of disputes it cannot touch.