Brunei Credit Bureau to be implemented this year, 2012
The Brunei Credit Bureau will be in place to assist all the financial institution some time this mid of 2012.
Bank/financial institution lowering value for used cars
The bank and financial institution has recently lowered all used car value. It is likely that some/most cars posted in Bruneiusedcar.com will require a sum of deposit to accommodate with the balance of the loan approved by the bank
BIBD At-Tamwil does not finance older used car
BIBD At-Tamwil will no longer finance older car which are registered in the year of 2000 and below
What is the bank interest rate for used car?
4.75% per annum BIBD / HSBC
Job and criteria that are not allowed to get used car financing from the bank
If you have either one of the jobs/criteria below then it is likely that the bank will not provide you a car loan. (Security: G4S, SPSS, Ravenguard) or (Person earning $800 or lesser a mth)
I’m a foreigner working in Brunei, can I finance a used car for 7 years?
Yes, you can finance a used car for 7 years. However, you are required to use a local guarantor to support your 7 years financing. If you do not have a guarantor, then you can only finance the car based on the length of your employment contract
I have late payment charges and overdue for my current car. Am I still able to trade-in with you?
Yes, you can still trade-in with us as long as you are still eligible to finance at one of the bank or financial institution.
Can you settle my loans, credit card, etc when I buy a car from you?
Yes, we can help you to settle them depanding on the amount you owe the bank and the car you are able to finance. There are many factors to look into before we know if you are able to settle off your loans when you buy a car from us.