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Hire Purchase
Hire purchase involves the sales of goods by the
dealer to the financier (bank), which becomes the
owner, in return for an immediate payment, which is
the cash price less deposits paid by the consumer
(hirer). The ownership of the goods passed to the
hirer upon completion of the full instalment payment.
Terms of Financing
| Type of Vehicle |
Margin of Finance |
Repayment Period |
| New passenger car,
4WD, MPV and SUV (CBU and CKD units) |
Maximum of 90% of
seller's invoice |
Maximum of 108 months |
| Secondhand passenger
car, 4WD, MPV and SUV |
Maximum of 85% of
seller's invoice |
Maximum of 108 months |
| Unregistered Reconditioned
(imported) vehicle |
Maximum of 90% of
seller's invoice |
Maximum of 108 months |
* All terms and conditions are subject to the financing
guidelines by Bank Negara Malaysia and Maybank.
Contact Us
For more details, please visit your nearest Maybank Auto Finance
Centre today.
Al-Ijarah Thumma Al-Bai' (AITAB) - Islamic Financing
Under the Syariah principle, there are two contracts
involved in the Islamic hire purchase financing, the
Ijarah contract (leasing/renting) and Bai' contract
(purchase), which are undertaken concurrently.
The facility is to finance the purchase of new and
used passenger vehicles, where customer enters into
the Ijarah contract and leases the car from the owner
(the bank) at an agreed rental over a specific period.
Upon expiry of the Ijarah contract, the Bai' contract
will come into effect, which allows the hirer to purchase
the car at an agreed price.
Terms of Financing
| Type of Vehicle |
Margin of Finance |
Repayment Period |
| New passenger car,
4WD, MPV and SUV (CBU and CKD units) |
Maximum of 90% of
seller's invoice |
Maximum of 108 months |
| Secondhand passenger
car, 4WD, MPV and SUV |
Maximum of 85% of
seller's invoice |
Maximum of 108 months |
| Unregistered Reconditioned
(imported) vehicle |
Maximum of 90% of
seller's invoice |
Maximum of 108 months |
* All terms and conditions are subject to the financing
guidelines by Bank Negara Malaysia and Maybank
Repossessor’s Code of Conduct
A repossessor must act in a professional and reasonable manner in discharging his duties.
You may find the guidelines, which regulate the conduct of the repossesser in the "Guidelines on the Appointment and Conduct of the Repossessor", issued by the Association of Finance Companies of Malaysia. Some of the rules are as follows:
- As far as possible the number of authorized repossessors must be minimized unless circumstances warrant any additional assistance.
- Repossessors should only gain entry into premises with the knowledge and consent of the occupant.
- Repossessors should be well mannered and dress decently. They should ensure the practice of professionalism and dignity in carrying out their work.
- The use of ‘strong arm tactics’ of any kind is strictly prohibited in the performance of their work.
- At the time of repossession, the repossessors should give a standard notice to the hirer informing him of the following:
- The address and telephone number of the finance company and the authorized officers he/she can contact immediately to resolve any problems.
- The repossessors must give a reasonable time to the hirer to inspect the vehicle and remove his personal items and belongings.
- As far as possible repossession should be undertaken in the presence of the hirer or any person authorized to that car.
- A police report on the repossession should be lodged as soon as practicable and preferably within 24 hours but in exceptional circumstances, not later than 48 hours from the time ofrepossession.
- Repossessors should at all times act in accordance with the laws and regulations in the performance of their work.
- All reposssessors should be given and briefed on the Code of Ethics On Repossession and abide by its terms. They should also observe any other Code Of Ethics introduced by the Association of Hire Purchase Companies Malaysia, the Association of Finance Companies Malaysia and the Ministry of Domestic Trade and Consumer Affairs from time to time.
Contact Us
For more details, please visit your nearest Maybank Auto Finance
Centre today.
Maybank Graduate Banking Program - Car Ownership
Plan
Car Ownership Plan under the Maybank Graduate Banking
Program is a plan specially designed for graduates
through Hire Purchase which is flexible and affordable.
| Eligibility |
| • |
Graduates aged 20
to 28 years old |
| • |
Minimum monthly income of RM1,500 |
| Broad
Financing Plans |
| • |
One of the best financing
terms in town for both new and secondhand cars |
| • |
Longer financing tenure of up to 9 years |
| • |
90% financing for
most models |
| • |
Speedy approval time |
| • |
Also available under
Islamic financing |
| Special
Features and Benefits |
| • |
Free gift with motor
insurance under Mayban General Assurance Berhad |
| • |
Choice of dealers
located nationwide |
| • |
Easy payment accessibility
through Maybank2u.com online banking |
| • |
Extensive distribution
network nationwide |
Contact Us
For more details, please visit your nearest Maybank Auto Finance
Centre today.
HP
Refinancing
A plan designed to refinance your existing
vehicle for the purpose of:- |
| a) |
Cash drawdown for
household expenses or emergency |
| b) |
Down payment for another vehicle |
| c) |
Lower instalment
payment than existing repayment |
| Special
Features and Benefits |
| • |
Competitive valuation for existing vehicle |
| • |
Up to 85% financing
of the vehicle's current market value |
| • |
Up to 7 years refinancing
period |
| • |
NCD on motor insurance
remains unchanged |
Contact Us
For more details, please visit your nearest Maybank Auto Finance
Centre today.
Corporate Auto Scheme
A scheme that provides HP financing for employees
of established companies to purchase motor vehicles
from selected dealers in Maybank panel.
| Scope |
| • |
New vehicles of acceptable
models |
| • |
Secondhand popular vehicles of acceptable models
aged not exceeding 10 years |
| • |
Terms and conditions
are subject to arrangements with the respective
dealers |
| Other
Terms & Conditions |
| • |
Competitive financing
terms for both new and secondhand cars |
| • |
Up to 90% margin of finance |
| • |
Up to 9 years financing
period |
Contact Us
For more details,
please visit your nearest Maybank Auto Finance
Centre today.
For further enquiries on special financing packages,
you can also contact:
Retail
Sales Department,
Level 5, Tower A,
Dataran Maybank,
No. 1, Jalan Maarof,
59000 Kuala Lumpur.
General Hotline: 03-2297 2543 / 2150 / 2509
Corporate Auto Scheme Hotline:
03-2297 2494 / 2497 / 2499 / 2500 / 2501
/ 2502 |
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