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Hong Leong Bank

Hong Leong Car Loan FAQs

  1. What are the steps involved in applying for a loan online?
  2. How secure is my online loan application?
  3. Will my personal information be kept confidential?
  4. What is special about Auto Loan Online Application?
  5. Will I face any difficulty in signing up online?
  6. How do I qualify for the Auto Loan Online Application?
  7. How long does it take to process an online application?
  8. What vehicles do you finance?
  9. What is the Loan Term?
  10. Do I have to purchase cars from specific dealers?
  11. What documents do I need to submit to Hong Leong Bank Berhad?
  12. Can I have a co-borrower on the loan?
  13. How will I know the status of my loan application?
  14. How long is the approval good for?
  15. Is there any hidden fee?
  16. How do I make my monthly payments?
  17. Is there an auto debit payment option?

1. What are the steps involved in applying for a loan online?

There are 5 steps involved to apply online. The steps are listed below with some descriptions.

*Guarantor Information.

If you are below 21 years old or are unemployed, we will need you to provide us with a guarantor. You will be able to see two additional steps involved which are Guarantor Personal Information and Guarantor Employment Information, before the Preview and Submit Step.

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2. How secure is my online loan application?

In order to apply online, your browser must support SSL (Secure Sockets Layer) protocol (most browsers do). With the SSL protocol, your application information will be encrypted prior to transfer to us, thereby providing you with an additional assurance of privacy and security.

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3. Will my personal information be kept confidential?

We understand the importance of handling customer's information in a professional and confidential manner. We know that privacy is an important element of our customers' confidence in us and we understand that our customers expect us to retain their personal financial information responsibly.

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4. What is special about Auto Loan Online Application?

Apart from enabling Auto loan applications at users' convenience, users will be delighted with our prompt services, competitive interest rates and many other benefits.

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5. Will I face any difficulty in signing up online?

Users should find this Hire Purchase Online Loan Application easy to fill out. Just complete the loan application form. There are guides throughout the whole process.

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6. How do I qualify for the Auto Loan Online Application?

Hong Leong Bank Berhad will evaluate each loan application based on its merits and demerits. Generally, the approval is based on applicants' personal resources, repayment capabilities, past payment patterns, legislative and Hong Leong Bank Berhad's requirements.

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7. How long does it take to process an online application?

All applications will be given prompt attention and an indicative approval will be granted within 1 working day or even less if criteria are met.

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8. What vehicles do you finance?

Hong Leong Bank Berhad will finance all popular passenger motor vehicles and selected commercial vehicles.

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9. What is the Loan Term?

Loan terms up to 108 months.

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10. Do I have to purchase cars from specific dealers?

No, this is not necessary.

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11. What documents do I need to submit to Hong Leong Bank Berhad?

You are required to furnish their personal and income documents (details of documents needed will be made known upon approval).

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12. Can I have a co-borrower on the loan?

This is prohibited under the Hire Purchase Act. However, a guarantor can be provided if required.

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How will I know the status of my loan application?

You can check their car loan application status via the Internet at anytime and anywhere at you' most convenience.

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14. How long is the approval good for?

Approval is good for 30 days. However, Hong Leong Bank Berhad reserves the rights to withdraw the loan approval and / or to vary the loan terms and conditions without prior notice.

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15. Is there any hidden fee?

No. However, there is a JPJ transfer fee and runner fee, ranging from RM240 to RM300.

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16. How do I make my monthly payments?

Payments can be made through Online Banking, Interbank GIRO (MEP IBG), Automated Teller Machine (ATM), Standing Instruction facility, Cash Deposit Machine, Cheque Deposit Machine or at any of our Hong Leong Bank branches.

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17. Is there an auto debit payment option?

Successful applicants may open a Savings Account and maintain a Standing Instruction (SI) for automatic monthly payments.

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