Keeping Safe on the Road for Chinese New Year 2015
- By CompareHero.my
- February 18, 2015
Stay away from accidents and remember these road safety tips when you go on a trip for Chinese New Year 2015.
Do you have plans to hit the road and travel for the Chinese New Year break? Well, you’re not alone. Many are also planning to go on road trips to get-together with friends and family and welcome the new Lunar Year together.
The good news is that many toll road operators here in Malaysia plan to give a discount to drivers in time for the Chinese New Year 2015. A total of 18 highways will give fare discounts over the holidays. If you drive on the North-South Expressway (PLUS) and the North-South Expressway Central Link (ELITE) on Feb 16 and Feb 23, you can get a rebate of as much as 30% if you exceed 100 kilometers and use the electronic toll collection system.
The holiday break and the discounts are incentives for people to go out on the roads for Chinese New Year. While this is great news, a greater number of cars expected to populate the roads comes a greater risk for accidents to happen. Here are a few tips on how to stay safe on the road for Chinese New Year.
Be Mindful of Pedestrians
On average, 562 pedestrians die annually in traffic accidents every year here in Malaysia. The deaths are caused by hit-and-run accidents, jaywalking, crossing busy roads, and dangerous driving. While you can argue that the pedestrian can be at fault in these accidents, especially if they jaywalk or cross busy roads, you can still prevent fatal accidents by driving at a safe speed especially in urban areas.
Avoid Driving When Tired
You may be rushing home to get back to work after the holidays even after you haven’t had enough sleep after all the festivities. If you can, have another driver as backup so that he can replace you if you’re feeling sleepy on the road.
If you suddenly find yourself feeling very sleepy on the road, take the time to rest or sleep in your car until you’ve had enough rest and you feel you can drive safely again. It’s better to be late or to be absent from work than to get into an accident.
Keep Your Car in Good Shape
From turn signals to brake lights, make sure that these are all working before you go on a long drive. Check your brakes and your headlights too before you get on the road. Bald tires need to be replaced as these don’t have as much grip on the road especially when the road is wet.
The upcoming Chinese New Year should be a time to enjoy the holiday with friends and family. It can mean driving long distances to reunite with loved ones but before you get in that car, please remember to drive safely. And remember to keep a petrol credit card in your wallet to get more rewards when you gas up at your favourite petrol service station. Have a smooth trip ahead!
Use our free comparison tool on our site to find the best personal loan that suits your needs, the best credit card for cashback, rewards, air miles or best deals, and the best broadband plans!
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Differences Between Syariah and Conventional Financing
- By CompareHero.my
- November 20, 2014
Consumers of financial products in Malaysia now have more loan options, thanks to syariah financing.
Syariah financing, like conventional financing, is available for anyone in need of additional funds for consumption goods or capital.
And almost all large banks now offer syariah financing, so consumers don’t have to worry about the level of professionalism in the management of funds.
Still, there are several differences between syariah and conventional finance which you should consider before choosing between the two.
1. Interest vs No Interest
In conventional financing, the bank charges interest on the loan, and customers are required to repay the loan along with the interest.
However, Islamic banking considers interest as riba, and hence, doesn’t allow it. Syariah financing applies akad murabahah (buy-sell), ijarah wa iqtina (leasing with the option of ownership), and musharakah mutanaqishah (capital sharing) instead of interest.
In murabahah, the bank “buys” the item the customer intends the loan for. Then, the bank sells the item to the customer with a certain margin. For example: A customer wants a loan for a new car. The bank will buy this car and sell it back to the customer for a minimal profit. The total amount including the margin will be paid in installments over a period of time customers. The margin is the bank’s profit.
In ijarah wa iqtina, the bank will buy the desired object and the customer will lease or rent the object for a certain period of time. However, after using the object for that period, the customer can choose to fully buy the object.
In mutanaqishah, the bank and customer share the capital costs and hence, ownership. For example, the bank finances 60% of the car purchase, and customer finances the other 40%. Later, the customer can the bank’s share to fully own the car.
2. Risk Sharing
In conventional financing, the customer bears all the risk of paying back the loan. However, in syariah financing, the banks bear some risk because of the loan principles involved.
For example, if a customer borrows capital to start a business, the customer still has to pay back the loan principal and interest even though the investment turns out to be a loss and only brings back a smaller return than the original capital.
However, if a customer borrows the same principal as capital from syariah financing based on mutanaqishah, the bank will bear some of the losses if the investment is a loss and the customer only gets a smaller amount back.
3. Halal
Syariah financing is meant to support halal purposes. So, consumers must inform banks on the intended use of the loan, and once they receive the loan, must use it as promised.
Because of the differences that exist, you are advised to talk to banks about their syariah and conventional financing structures. Careful calculation will help you get the best product that meets your financial needs.
Compare personal loans in Malaysia and see which local banks make syariah financing available.
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Top 5 Fuel Efficient Cars in Malaysia
- By CompareHero.my
- November 6, 2014
Investing in a fuel-efficient car is a great way to save money. Fuel-efficient cars are usually hybrids: cars that have both a gas engine and an electric motor. These cars have less carbon dioxide emissions, as well as a better fuel consumption.
When ranking cars to find which ones are the best, we looked for their fuel efficiency (km/l), their carbon dioxide emissions, as well as their engine’s fuel displacement. We’re also looking at affordability in the rankings, as well as the total costs for a full tank of gas.
5. Kia Rio
The Kia Rio has a 1.4-litre DOHC engine, with a full tank capacity of 43 litres and CO2 emissions at 130g/km. It has a fuel efficiency of 17km/l, thus taking you up to 640km at a full tank. It costs approximately MYR 74,000, and MYR 98.90 to fill the tank.
4. Toyota Vios
The Vios is a fuel efficient hybrid vehicle with a 1.5-litre 4-cylinder DOHC VVT-i engine, and a fuel efficiency rating of 19km/l–plus it has an ECO drive indicator. At a full tank, it can carry up to 42 litres, which costs you MYR 96.60. The Vios has CO2 emissions of 145g/km. A brand new Toyota Vios costs approximately MYR 88,500 up to MYR 93,000.
3. Honda Jazz
The Jazz Hybrid costs about MYR 89,000. It has a 1.3 litre, i-VTEC+IMA engine, and a fuel efficiency of 17.8km/l. Its CO2 emissions are at 104g/km. A full tank has a max capacity of 40 litres, which can cost MYR 92 to fill.
2. Toyota Prius c
With its 1.5-litre 4-cylinder, 16-valve DOHC VVT-i engine, the Prius c is a hybrid car that has a fuel efficiency of 25km/l. It has an ECO monitor so you can check on how much you’ve been saving on gas. The tank has a max capacity of 36 litres, and CO2 emissions of 91g/km, based on the European Emissions Standards. The Prius c costs MYR 153,170 and will cost about MYR 82.80 for a full tank.
1. Mitsubishi Mirage
This hatchback has a 1.2-litre, 12-valve DOHC engine using MIVEC technology, producing less than 100g/km of CO2. Its max fuel tank capacity is 35 litres, and will cost MYR 80.50 for a full tank. The Mirage has a fuel efficiency of 21km/l and also boasts of a maximum range of 740km-travels in a single full-tank of petrol. This car costs approximately MYR 64,000, including taxes and other fees.
All data was taken from official brochures and specifications taken from the car manufacturer’s website.
Buying a car is definitely a significant investment but you don’t have to go broke on maintenance as well. Choose fuel-efficient cars and save money on gas. On top of that, you also help the environment and get the best driving experience.
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Car Loan or a Personal Loan: Which is Better for You?
- By CompareHero.my
A car is one of the biggest long-term investments you can make, going a long way into making your daily commute and leisure trips more convenient. However, not everybody can afford to just drop cash on a car like they would for a Starbucks frappuccino. When the money in your bank account is not enough to cover the full list price for your dream car, your only other alternative is to go for car financing.
In many places, banks and car dealerships provide car loan options tailor-made for paying off the cost of your vehicle. Most car dealers have their own in-house financing schemes, but these tend to be higher when compared to more competitive prices of bank loans. Less widely known is the option of taking out a personal loan, usually offered by banks for a wider range of expenses ranging from a new house to vacations abroad.
So, should you go for a car loan or a personal loan?
Contents
First, the essentials
In either case you would need to pay attention to vital details like the cost of your monthly payments, interest rates, and payment terms. Usually, the first thing you look for in car financing is a monthly payment/ interest rate combo low enough to fall within your budget. Online auto loan calculators by AutoWorld, Calculator.com, and other similar sites can help you figure out the cost of your monthly payments. Never dive into a deal without factoring in the actual full amount you’re paying for your intended vehicle.
Payment terms are also an important factor: you may be tempted to go for a longer time period so you would pay lower monthly fees, but a shorter term means you pay less piled-up interest over time. Would you stay comfortable paying the same rate for the same vehicle five to seven years in, when the “new car” high has long worn off?
Types of Loans
Car loans are actually a variation on personal loans, structured to factor in the depreciation of a car’s value over time. Car loans often require you to make a sizable down payment early into the term. The bigger your deposit, the lower your succeeding monthly payments.
Personal loans, meanwhile, can be either secured or unsecured: the former is backed by assets you already own for the lender’s security, while the latter is determined solely on the basis of your credit status.
Interest Rates
Interest is what you pay your lender in exchange for letting them finance your car, and can make a huge difference in the ease of your payments. Interest rates are calculated based on the car’s list price and your current financial situation. Personal loans tend to have higher interest rates than car loans, but can be lowered in the case of secured loans. Whenever you can, opt for a loan with a simple interest scheme over compound interest.
New vs. Used
Most car loans are packaged especially for brand-new or Certified Pre-Owned (CPO) vehicles. When doing research on the car you wish to buy, always check which car loan alternatives are most applicable to your planned purchase. When buying secondhand, work closely with the original owner to see if car loans are an option for your transaction. If you are planning to buy a much older vehicle or if no dedicated car loan options are available, consider getting a personal loan. Learn more about deciding whether to buy a brand new or used car.
Your Credit Score
If you choose to apply for a personal loan, lenders are likely look into your credit score rating. This is their assurance that you have the ability to make your payments on time. Should you have a less-than-ideal credit score, you will have better chances in getting a car loan than you would a personal loan. Either way, poor credit means you get saddled with a much higher interest rate. Ideally you should settle as much of your outstanding credit debt as you can before you begin applying for any kind of loan.
The Repossession Question
Obviously, you want to minimise the likelihood of defaulting on your loan whenever you can. In the event you’re unable to make your payments, what happens afterward varies depending on the loan you get. When you default on a car loan or an unsecured personal loan, the lender seizes your vehicle.
Applying for a secured personal loan gives you more options on what personal assets are at stake if you default, allowing you to keep your car. Just whatever you do, do NOT stake your house in a secured personal loan for your vehicle.
No matter what kind of loan you apply for, it’s important for you to shop around for lenders with better prices or more flexible terms that work with your current income. The same bank may offer completely different rates for a friend or a colleague, depending on their circumstances. If you can, make all your inquiries within a two-week period to prevent any further damage to your credit score. A car may be a huge commitment, but your wallet doesn’t have to suffer for it.
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Hunting for Great Bargains? Asia’s Top 5 Fashion Shops Online
- By CompareHero.my
- October 22, 2014
There’s something to be said about the benefits of shopping in your pajamas in the comfort of your own home. Thanks to the Internet, you can not only do just that, you can also buy great fashion items at lower prices compared to buying from stores!
Enjoy a laid-back weekend shopping online for great fashion finds. We found the top 5 fashion shops online in Asia offering the best fashion collections and the greatest bargains just for you!
Contents
1. Asia Fashion Inc. – www.asiafashioninc.com
Founded by Timothy Chen and Aidan Yeoh, Asia Fashion Inc. aims to lead the Asia Fashion Revolution by promoting various designers from all over the continent. They have fashion designers from Thailand, Malaysia, and Indonesia, as well as the Philippines, Hong Kong, Korea, and Japan. Some of the designers that work with Asia Fashion Inc. are Albert Andrada, Angela Chung, Min Khant, Paul Nathaphol, and Rosenthal Tee.
With different fashion designers from Asia, you’re sure to find different styles: office chic, minimalist, party wear, even runway-worthy fashion items that cater both to men and women. Asia Fashion Inc. delivers across Asia, and accepts all major credit cards.
2. Zalora – www.zalora.com
Founded in 2012, Zalora is one of the youngest online fashion outlets that’s been consistently rising in the ranks of the Southeast Asian fashionista’s go-to sites! They have an extensive collection from over 500 local and international fashion brands from both menswear and womenswear, and even have selections for shoes, bags, and accessories. Zalora has different payment methods, including debit cards, credit cards, even PayPal, and they offer speedy deliveries within 1-3 days from a successful online shopping trip.
3. Dressabelle – www.dressabelle.com
Dressabelle is an online fashion boutique for girls by girls, founded in 2008 by Joelle Pang. They offer the latest fashion trends for clothes, shoes, bags, and accessories for the working woman. They also have a line of bridesmaid dresses for that important day.
Dressabelle is based in Singapore and delivers absolutely free to Singapore, Malaysia, Indonesia, as well as internationally. Dressabelle accepts payment from major credit cards, as well as bank transfers and deposits.
4. YesStyle – www.yesstyle.com
The fashion arm of YesAsia.com, YesStyle offers quality Asian fashion brands at affordable prices. They offer womenswear, menswear, shoes, bags, accessories, even kidswear and various other lifestyle and beauty items. YesStyle also has a blog that updates shoppers with the latest styles and trends, so they know what’s in and what’s out for this season! The best part is: they ship internationally and accept all major credit cards, including Visa, MasterCard, American Express, and JCB.
5. Coco Fashion – www.coco-fashion.com
Coco Fashion boasts an affordable collection of trendy styles from Japanese, Korean, Thai, and Chinese fashion. They have a great selection of casual styles, working styles, and formal styles for both men and women, from top quality Asian brands like Sweet Girl, XianWei, JK2, YOCO, Vivicam, UGO Korean, and EGO. Coco Fashion ships around the world, and accepts major credit cards, as well as PayPal.
So get your shopping gears ready for a weekend of fashion shopping from the comforts of your own home! Get your credit card at the ready to make these online purchases easy and fast!
If you have a MasterCard or Visa, be sure to avail of secure payment services beforehand to help protect yourself online: MasterCard has SecureCode, and Visa has Verified by Visa. To know more about credit card security, click here!
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