Car Loan Question (Public Bank)

Jackkid — Fri, 07 Mar 2014 23:58:32 +0800

Hi all,

I'm just buying my own first car (used car), just did a car loan from Public Bank few days ago and the loan was approved.
Hi!

Here's the reply message i got from my Sales Agent and the message details actually from the Banker:

Peugeot 308 app Public Maluri, 55k, 3.42%, 9 years condition SI pbb a.c., hp life RM394.90.

My question is:

1. What is the purpose for the HP Life? And is this a COMPULSARY fees that i have to pay? (i asked my SA and he says because i purchase a 2nd hand car and loan below 60k, so i must pay for this...)

2. And there's another RM10 fees for activate an Auto Debit acc, is this also the one i must do?

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Car Loan Question (Public Bank)