Professional Documents
Culture Documents
!74.0883
When buylng a car Lhere are Lwo maln Lhlngs LhaL lnvolved
1) Loan (lf noL cash)
2) lnsurance
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ptocess evetytbloq oo bebolf of oot costomets
unllke cerLaln counLrles (for example Slngapore) where loans are usually provlded by sole flnanclng
companles (and banks) loans are usually provlded by commerclal banks (flnance deparLmenL) ln
Malaysla lf you are applylng for a loan do you have whaL lL Lakes or do you have a guaranLor?
uocumenLs needed for loan appllcaLlon varles dependlng on Lhe followlng characLerlsLlcs
1) lndlvldual car (ersonal usage)
2) Company car (8uslness usage)
3) CuaranLor
uocomeots oeeJeJ fot oll types of oppllcotloo
Ind|v|dua|
mp/oyed lndividuo/s
Copy of your lC and drlvlng llcense
LaLesL Lhree monLhs salary sllp
LaLesL lncome Lax reLurn recelpL and LA lorm lf avallable
Copy of employer's leLLer of conflrmaLlon
Car/vehlcle dealers quoLaLlon (for new cars only)
Copy of reglsLraLlon card (for used cars only)
e/fmp/oyed lndividuo/s
Copy of your lC and drlvlng llcense
LaLesL lncome Lax reLurn recelpL
Copy of buslness llcense /permlL
Copy of bank sLaLemenL of savlngs or currenL accounL and
buslness accounL passbook
any (any aka Sdn 8hd]S|e
rr|etrsh|]artnersh|]ssn|at|n ]%
Copy of buslness reglsLraLlon llcense or permlL
Copy of lorm u lorm 24 44 or 49
llnanclal SLaLemenL AudlLed AccounLs
LaLesL Lhree monLhs bank sLaLemenL
LaLesL Lhree years lorm ! and LA lorm (lf appllcable)
CuaranLor aL leasL one of Lhe companys
uarantr
lf you do noL have sufflclenL lnformaLlon/ documenLaLlon for
loan processlng or lf your lncome evldence ls noL sufflclenL
Lo bear Lhe burden of your car or you may have hlgh level of
commlLmenL (all deLermlned by bank or credlL company)
you may opL Lo have a guaranLor (he/she can be your famlly
members spouses your chlldren and for forelgners resldlng
ln Malaysla a local guaranLor) for your loan lnformaLlon
needed from a guaranLor
Copy of lC and drlvlng llcense
LaLesL Lhree monLhs salary sllp
LaLesL Lhree years lorm ! and LA lorm
Copy of bank sLaLemenL or savlngs passbook
lofotmotloo ptovlJeJ setve os qolJelloe ooly flexlblllty ooJ
teplocemeot wltb otbet occeptoble Jocomeots ote osoolly
occeptoble
oon durotion lnterest rote
lnLeresL raLes for loans are deLermlned by Llers of loan duraLlon whlch are 3 years 7 years and 9 years
(maxlmum perlod of vehlcle loan) A general guldellne of loan duraLlon loan margln and Lerms seL for
(Lypes of) vehlcles by a local bank ls as below
assenger ars MVs 4x4 veh|n|es
ge Veh|n|e an Marg|n Max|u an Durat|n
new vehlcles up Lo 90 up Lo 108 monLhs
used vehlcles
up Lo 3 years old up Lo 90 up Lo 108 monLhs
6 Lo 10 years old up Lo 83 up Lo 84 monLhs
Vans
O Coods carrylng vans wlLh CvW / 8uM up Lo 2340kg
O assenger carrylng rlvaLe reglsLered vans
ge Veh|n|e an Marg|n Max|u an Durat|n
new vans up Lo 90 up Lo 108 monLhs
used vans
up Lo 3 years old up Lo 80 up Lo 84 monLhs
6 Lo 8 years old up Lo 73 up Lo 72 monLhs
4x4 ern|a| |nkus
ge Veh|n|e an Marg|n Max|u an Durat|n
new vans up Lo 90 up Lo 108 monLhs
used vans
up Lo 3 years old up Lo 80 up Lo 84 monLhs
6 Lo 8 years old up Lo 73 up Lo 72 monLhs
ther ern|a| Veh|n|es
O Coods carrylng vans above 2340kg and up Lo 3000kg
O lckups and lorrles of up Lo 3000kg
ge Veh|n|e an Marg|n Max|u an Durat|n
new vehlcles up Lo 80 up Lo 60 monLhs
used vehlcles up Lo 3 years old up Lo 70 up Lo 36 monLhs
lnterest rotes
lnLeresL raLe for vehlcle loan has been Lrlcky ln Malaysla WlLh consLanL flucLuaLlon no one can ever Lell
for sure whaL Lhe raLes are 1here are many facLors LhaL deLermlne Lhe raLes for each hlrer some of
Lhem are
AmounL of loan
CC8lS ( CenLral CredlL 8eference lnformaLlon SysLem) reporL
vehlcle's age cublc capaclLy (cc) place of assembled (C8u/Cku) condlLlon (recond/new/used) eLc
Clven Lhe uncerLalnLy and desplcable predlcLlon of such lnLeresL raLe ln Lhls lndusLry we aL ernlagaan
MoLor 8lnLang !aya (M8!) have summarlzed Lwo seLs of lnLeresL raLe range for boLh used and
unreglsLered (recondlLloned/recond lmporLed) cars based on Lhe markeL lnLeresL raLe glven by dlfferenL
commerclal banks
used cars 36 40*
8econd cars 27 30*
lnLeresL raLes for new and recondlLloned cars vary dependlng on brands and models lease consulL your
dealer (or us lf you are buylng new cars Lhrough us) *1lme of opJote ls 9 uecembet 2010 lotetest totes
floctoote coostootly lot mote occotote teoJloq foll Jetolls of bltet ote oeeJeJ
onks
We are certiIied panels oI a list oI Iinancing banks, and our customers have the liberty to choose their
own preIerred loan provider. The list comprises oI:
1 ubllc 8ank 8hd
2 ClM8 8ank
3 Amlslamlc 8ank 8erhad
4 Pong Leong 8ank
3 8P8 8ank
6 Maybank 8hd
I-SUk-
ln Malaysla premlums are pald per annum 1here are a few Lypes of lnsurance coverage
1 ersonal accldenL
a llrsL parLy coverage
b 1hlrd parLy coverage
2 Wlndscreen coverage
3 LxLended warranLy (Lnglne and gearbox)
Pere aL M8! we also acL as cerLlfled lnsurance agenL for Lhe coverage of your vehlcle Cur cusLomers
can choose Lhelr own lnsurance company for Lhe sald coverage Some of Lhe lnsurance companles ln our
llsL are
1 C
2 Am lnsurance
3 kurnla
4 Mul
3 1oklo Marlne
6 8er[aya