Car Loan | Auto Loan

Car Loan | Auto Loan

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Auto Loan Car Loan

Apply for our Car Financing and say Hello to that new car feeling.

Apply Now
I’m interested

Features & Benefits

  • Features & Benefits
  • Available Car Financing Plans
  • Loan Calculator
  • Eligibility
  • Fees & Charges
  • Frequently Asked Question
  • Terms & Conditions, PDS & Application Form

New, Used & Recond Vehicles

A financing plan suitable for new, used and reconditioned vehicle.

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Repayment Period & Financing

We offer loan repayment period up to 9 years and margin of financing up to 90%.

 

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Easy Payment Options Available

Hong Leong Connect, interbank GIRO (MEPS IBG), standing instruction facility (CASA auto debit), ATMs, CDMs or Hong Leong Bank branches.

 

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Choose between fixed or variable rate financing packages

 

Fixed Rate Financing

Variable Rate Financing

Term Charges

  • Based on fixed interest rate flat and not exceeding 10% p.a.
  • Based on a margin above the Bank’s Base Lending Rate (BLR) and not exceeding 17% p.a.

Instalment

  • Fixed monthly instalment
  • Amount of each instalment or the number of instalments shall be revised whenever there is a BLR revision

Late Payment Interest

  • 8% p.a. on overdue instalment
  • 2% above prevailing rate of term charges

Early Loan Settlement

  • No penalty fee
  • Net balance due less statutory rebate for term charges
  • No penalty fee
  • Net balance amount outstanding due plus accrued term charges up to the next payment due date

I want to know...

How much do I pay monthly?

How much do I pay monthly?

I would like to know how much I have to pay every month.

What car price should I go for?

What car price should I go for?

I would like to find out the estimated car price that is suitable for me.

I would like to know how much I have to pay every month...

*This calculator is intended as a guide for reference only.

Ready to drive home with your new car?

RM

0
/month

3 Years

RM

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/month

5 Years

RM

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/month

7 Years

RM

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/month

9 Years

I would like to find out the estimated car price that is suitable for me...

*This calculator is intended as a guide for reference only.

Ready to drive home with your new car?

RM

0

3 Years

RM

0

5 Years

RM

0

7 Years

RM

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9 Years

N/A - not available

 
  • Individual or Sole Proprietor aged 21 to 70
  • Non-individual (Business Applicant)
To apply, submit the following documents: 
Individual Applicant:
Employed Self-Employed
  • NRIC and Driving License; and
  • Latest 3 months’ salary slips;

 

AND

 

Any ONE of the following documents:

  • Latest Form BE and tax payment receipt; or
  • Latest EPF statement with at least  6 months’ contribution; or
  • Latest 3 months’ bank statement/saving passbook transaction; or
  • Letter of employment
  • NRIC and Driving License; and
  • Latest 6 months’ bank statement/saving passbook transaction; and
  • Business Registration and Form D
Business Applicant:

Sole Proprietor / Partnership

Private Limited/ Public Listed

  • Business proprietor/partner(s)’s NRIC;  and
  • Latest 6 months’ bank statement/saving passbook transaction; and
  • Business Registration and Form D
  • Certificate of incorporation; and
  • Forms 24 and 49; and
  • Memorandum and Articles of Association (M&A); and
  • Latest 6 months’ business bank statements; and
  • Director (Guarantor(s)’s NRIC

Note : Other form of income substantiation may be considered on a case to case basis. 

 

Refer to the below for Fees and Charges applicable to Car Loan/-i.

Description / Service

Charges / Fees*

Late Payment charges

Car Loan Fixed Rate : 8% p.a. on overdue instalment

Car Loan Variable Rate: 2% above prevailing rate of term charges

i. e-Ownership transaction fee for registration of ownership claim

RM3.00

Stamp Duty for Hire Purchase Agreement

i. Hirer

RM10.00

ii. Guarantor

RM10.00 per guarantor

iii. Supplemental Agreement/ Letter of Set-Off/ Charge over Cash Deposit/ Assignment Agreement

RM10.00

Ad-hoc services

i. Duplicate HP agreement/ Duplicate AP Documents/ Invoice/ Insurance Cover Note/ Puspakom report/ Guarantee agreement/ Supplemental agreement/ Letter of Set-off (LOSO)/ Charge Over Cash Deposit

RM2.00 per page; min RM10.00

ii. Duplicate registration card/ vehicle ownership certificate (VOC)

RM2.00 per page; min RM10.00

iii. Consent letter to Authorities - transfer of vehicle to East M’sia or vice versa

RM20.00 per request

*Subject to Government Tax, if applicable

Q: What is this product about?

A: We finance new and used vehicles that are for passenger and goods carrying. 

Q: Who can apply?

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 compaanies

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?

A: For more information on our product, you may leave your contact with us by  clicking the “I’m Interested” button on the right hand side of this webpage.  Alternatively, you may refer to our Product Disclosure Sheet by clicking the following links:

Product Disclosure Sheet Fixed Rate

Product Disclosure Sheet Variable Rate

English

Terms & Conditions

Product Disclosure Sheet Fixed Rate

Product Disclosure Sheet Variable Rate

Code Of Ethics On Reposession

Application Form

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