Hire Purchase

Financing for new, secondhand and reconditioned motor vehicles

Margin of finance:
Up to 90%

Loan period:
Up to 9 years

Benefits

Types of goods financed

Who can apply

Terms of financing

Type of vehicleMargin of financeRepayment period
New passenger car, 4WD, MPV and SUV (CBU and CKD units)Maximum of 90% of seller's invoiceMaximum 108 months
Secondhand passenger car, 4WD, MPV and SUVMaximum of 85% of seller's invoiceMaximum 108 months
Unregistered reconditioned (imported) vehicleMaximum of 90% of seller's invoiceMaximum 108 months
*All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Maybank

Fees & charges

List of hire purchase fees for purchase of new and reconditioned vehicles, used vehicles and after sales support services.

Click here for Hire Purchase Product Disclosure Sheet (Conventional).

Click here for Hire Purchase Product Disclosure Sheet (Islamic).

Required documents

ApplicantNew Vehicle / Unregistered reconditionedUsed Vehicle
Individual (Fixed Income Earner)

- Purchased of passenger vehicle

- Purchase of other than passenger vehicle
  1. NRIC
  2. Driving License (applicant only)
  3. Passport and employment / Contract Letter for foreigner
  4. Latest 2 months' Salary Slips /vouchers and
  5. Latest EA or EPF Statement or Employment Confirmation or 3 months Bank / Passbook Statement or ASB/ASN.
  6. Spouse details (NRIC and latest 2 months' proof of income if to support household income)

    * Local guarantor is compulsory for foreigner and guarantor need to submit documents as per item 1, 4 and 5.
  1. NRIC
  2. Driving License (applicant only)
  3. Passport and employment / Contract Letter for foreigner
  4. Latest 2 months' Salary Slips /vouchers and
  5. Latest EA or EPF Statement or Employment Confirmation or 3 months Bank / Passbook Statement or ASB/ASN.
  6. Spouse details (NRIC and latest 2 months' proof of income if to support household income)
  7. NRIC & driving license of seller if the seller is an individual
  8. Registration Card
  9. Performa invoice or invoice

    * Local guarantor is compulsory for foreigner and guarantor need to submit documents as per item 1, 4 and 5.
Sole Proprietorship / Partnership / Self Employed

- Purchased of passenger vehicle

- Purchase of other than passenger vehicle
  1. NRIC
  2. Driving License (applicant only)
  3. Certificate of Business Registration (Form A or Form B plus Form D)
  4. Relevant document as proof of income of business
  5. Trading and Profit Account and Balance Sheet of the firm (except for self employed)
  6. Latest 6 months Bank Statement (Sole Proprietor & Self Employed)
  7. Latest 3 months Bank Statement (Partnership)
  1. NRIC
  2. Driving License (applicant only)
  3. Certificate of Business Registration (Form A or Form B plus Form D)
  4. Relevant document as proof of income of business
  5. Trading and Profit Account and Balance Sheet of the firm (except for self employed)
  6. Latest 6 months Bank Statement (Sole Proprietor & Self Employed)
  7. Latest 3 months Bank Statement (Partnership)
  8. Registration Card
  9. Performa invoice or invoice
  10. NRIC & driving license of seller if the seller is an individual

ApplicantNew Vehicle / Unregistered reconditionedUsed Vehicle
Private Limited Company

- Purchased of passenger vehicle

- Purchase of other than passenger vehicle
  1. Form 9,13, 24 & 49
  2. Latest Company's Directors and Management profile
  3. Latest 3 months' Bank Statement
  4. Guarantor(s) NRIC (if applicable)
  1. Form 9,13, 24 & 49
  2. Latest Company's Directors and Management profile
  3. Latest 3 months' Bank Statement
  4. Guarantor(s) NRIC (if applicable)
  5. Registration Card
  6. Performa invoice or invoice
Public Listed Company

- Purchased of passenger vehicle

- Purchase of other than passenger vehicle
  1. Latest Form 49
  2. Latest Audited Annual Financial Statement (except for Direct Hire Purchase facilities)
  1. Latest Form 49
  2. Latest Audited Annual Financial Statement (except for Direct Hire Purchase facilities)
  3. Registration Card
  4. Performa invoice or invoice

Customer may provide other evidence of income such as rental, investment etc as to strengthen the application

HP Repayments 

Payments via M2U for Hire Purchase or AITAB - ie.car loan/financing must be in complete instalment amount. Please add payments for any other charges eg. overdue interest or compensation fees with your instalment payment. Partial payments or incomplete instalment payment will not be accepted.

Application

Click here to Apply now via our online Application form

For Application Enquiries: 03-2297 2509/2543
For Product Enquiries: kindly contact nearest Auto Finance Centre
Fax : 03 - 2283 2019

HP Loan Enquiry via Maybank2u.com

Hire Purchase Loan Enquiry is available through Maybank2u.com from 4.30am - 12.30am 

 

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