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Shafiah asked about Buy Car
almost 8 years ago
1,069 Views 1 Answer
Pros of BANK Loan are as such:
1) Very low or fixed interest rates (As low as 5%, or maybe lower)
2) Predictable monthly payments
3) Available for many users
4) Professional banker relationship
Cons:
1) Has a stringent and hassle process in loan application
2) Longer waiting time for approval
3) For employees, you will need to meet the basic wage requirement in order to be eligible for the loan.
4) A lot of documents needed for verification and approval.
Pros of IN-HOUSE Loan:
1) Does not requires much paperwork
2) Higher chances of loan approval
3) Convenient
1) Higher interest rate
2) Shorter loan settlement period
I hope this helps (:
over 7 years ago
Pros of BANK Loan are as such:
1) Very low or fixed interest rates (As low as 5%, or maybe lower)
2) Predictable monthly payments
3) Available for many users
4) Professional banker relationship
Cons:
1) Has a stringent and hassle process in loan application
2) Longer waiting time for approval
3) For employees, you will need to meet the basic wage requirement in order to be eligible for the loan.
4) A lot of documents needed for verification and approval.
Pros of IN-HOUSE Loan:
1) Does not requires much paperwork
2) Higher chances of loan approval
3) Convenient
Cons:
1) Higher interest rate
2) Shorter loan settlement period
I hope this helps (: