Q: What is this product about?
A: We finance new and used vehicles that are for passenger and goods carrying.
A: This product is opened to all individual and company applicants.
- Individual applicants: aged 21 to 70 years old
- Company applicants: sole-proprietorship, partnerships, private limited or public listed companies
Q: What are the terms of financing?
A: The maximum margin of finance is up to 90% of seller’s invoice with repayment period up to 108 months. All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Hong Leong Bank
Q: What vehicles do you finance?
A: We cater financing for all types of new and used vehicles; inclusive of reconditioned type vehicles.
Q: Can I have a co-borrower on the loan?
A: Unfortunately, this is prohibited under the Hire Purchase Act. However, a guarantor can be provided if required. Under specific circumstances as prescribed by the Bank policies, the Bank may also request for a Guarantor directly.
Q: How will I know the status of my loan application?
A: Finding out if your car loan has been approved can be quite exciting, and we understand that this is something you just can’t wait for. To make sure you receive the news as soon as possible, our staff will contact you once the loan is approved.
Q: How long is the loan approval good for?
A: Validity of the approval is subject to the validity of our Undertaking Letter to the vehicle seller.
Q: How do I make my monthly payments?
A: Payments can be made online via Hong Leong Connect, interbank GIRO (MEPS IBG), standing instruction facility (CASA auto debit), ATMs, CDMs or at any of our Hong Leong Bank branches.
Q: What happens if I settled the loan earlier than the date originally agreed upon?
A: For fixed rate financing, you are entitled to a rebate on the unexpired term charges. For variable rate financing, the settlement amount is the outstanding amount due plus accrued term charges up to the next payment due date. There is no penalty fee on early settlement.
Q: How can I find out more about your products?