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Floor Stocking

Floor Stocking

A short-term credit facility to finance the purchase of motor vehicles stock by dealers.

  • Margin of finance:

    Up to 100%

  • Loan period:

    Up to 90 days

Features and Benefits


  • Types of goods financed:
    • New vehicles (locally assembled)
    • New imported vehicles (CBU)
    • Second-hand motor vehicles
    • Reconditioned vehicles (imported)
  • Attractive and competitive interest rates.
  • Increased cash flow by converting your stock into cash prior to sales.
  • Flexibility to utilise facility up to approved limit after redemption of Sola.
  • No commitment fee for unutilised portion.
  • Interest is charged daily based on amount utilised only, helping you save on interest cost.
  • Preferential interest rates if hire purchase end-finance is submitted back to Maybank.
  • Easy payment options at over 400 Maybank branches nationwide, or online via Maybank2u.com.

Who Can Apply?


  • Private Limited Companies
  • Authorised motor vehicle dealers
  • Download application form here.

How It Works


  • Floor stocking involves the financing of vehicle stocks from appointed dealers upon presentation of the Sola of Exchange.
  • After the clearance of excise duty by the customs through the Electronic Excise System (ESS), the manufacturer/distributor will forward the financing documents (required for vehicles registration) for the vehicle to Maybank.
  • Upon redemption of the Sola, the financing document will be released to the dealer to facilitate the registration of the vehicle with the Road and Transport Department in the name of the hirer.

   

Documents Required


  • M&A of your company
  • Certified true copy of Certificate of Incorporation (Form 9)
  • Certified true copy of Form 24 (from date of incorporation) & latest Form 49
  • Company's profile and organisation structure
  • Latest 3 years' audited accounts / financial statement
  • Latest 6 months' bank statements
  • Directors' profile
  • Photocopy of Director's Identity Card
  • Letter of appointment of Dealership (if any)

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