Based on current market rate of P1.6M Forester car with 30% downpayment and 60 months term, the most attractive Interest Rate I received is ~9% with an Add-On Rate of ~24%. While I'm good with Forester, the upcoming release of Montero/Forester/Everest vehicle makes me think twice. Assuming the cost of money is the primary consideration to purchase now or wait, what would be the future interest rate? With factors such as Christmas and election coming, will the cost of borrowing increase or go down in the next 3-6-9 months?
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August 7th, 2015 01:25 AM #1
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Dalek
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August 10th, 2015 03:23 PM #3Interest rates aren't expected to change significantly in the coming year. Even if there's a pending US rate hike, global interest rates are still low.
Banks will charge you an annual interest rate of around 7-8% for a 5-year loan.
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Hoosier'ed Hotspur
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August 10th, 2015 04:45 PM #4Oh wow. And the total interest for the full amortization period, realized upfront on the (full) principal.....
Originally Posted by jut703
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Originally Posted by jut703
