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Hire Purchase Loans

Hire Purchase

Financing for your new, secondhand and reconditioned motor vehicles

  • Margin of finance:

    Up to 90%

  • Loan period:

    Up to 9 years

Terms of Financing


 

 

Type of vehicle Margin of finance Financing period
New passenger car, 4WD, MPV and SUV Maximum of 90% of seller's invoice Maximum 108 months
Secondhand passenger car, 4WD, MPV and SUV Maximum of 85% of seller's invoice Maximum 108 months
Unregistered reconditioned (imported) vehicle Maximum of 90% of seller's invoice Maximum 108 months

*All terms and conditions are subject to the financing guidelines by Bank Negara Malaysia and Maybank

How to Apply


Applicant New Vehicle / Unregistered reconditioned Used Vehicle
Individual (Fixed Income Earner) 1. NRIC 1. NRIC
- Purchase of passenger vehicle 2. Driving License (applicant only) 2. Driving License (applicant only)
- Purchase of vehicles other than passenger vehicle 3. Passport and employment / Contract Letter for foreigner 3. Passport and employment / Contract Letter for foreigner
4. Latest 2 months' Salary Slips /vouchers 4. Latest 2 months' Salary Slips /vouchers
5. Latest EA or EPF Statement orEmployment Confirmation or 3 months Bank / Passbook Statementor ASB/ASN. 5. Latest EA or EPF Statement orEmployment Confirmation or 3 months Bank / Passbook Statementor ASB/ASN.
6. Spouse details (NRIC and latest 2 months' proof of income if to support household income) 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. 7. VOC(Vehicle Ownership Certificate)
8. Pro forma 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 1. NRIC 1. NRIC
- Purchase of passenger vehicle 2. Driving License (applicant only) 2. Driving License (applicant only)
- Purchase of vehicle other than passenger vehicle 3. Passport and employment / Contract Letter for foreigner 3. Passport and employment / Contract Letter for foreigner
4. Latest 2 months' Salary Slips /vouchers 4. Latest 2 months' Salary Slips /vouchers
5. Latest EA or EPF Statement or Employment Confirmation or 3 months Bank / Passbook Statementor ASB/ASN. 5. Latest EA or EPF Statement or Employment Confirmation or 3 months Bank / Passbook Statementor ASB/ASN.
6. Spouse details (NRIC and latest 2 months' proof of income if to support household income) 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. 7. VOC(Vehicle Ownership Certificate)
8. Pro forma invoice or invoice
* Local guarantor is compulsory for foreigner and guarantor need to submit documents as per item 1, 4 and 5.

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

Financing, Fees and Charges


Hire Purchase Financing

Easy Road to your Repayment

Zoom through our fast and convenient banking channels for high speed servicing of your monthly repayments:

Pay via M2U

  • Go to "M2U"
  • Select "Pay & Transfer"
  • Select "Pay"
  • Select "Payee"
  • Select "Maybank Hire Purchase"
  • Key in “Amount and Effective Payment Date”
    “Set Recurring” & select “Effective Start & End Dates” if you want your payment to be automatically deducted on a monthly basis for subsequent months.
  • Request for :
    • "Secure Verification", You will receive a notification on your phone to authorize this transaction on the new Maybank app; or
    • "Secure TAC", Enter the 6 digit TAC number generated from your new Maybank app; or
    • "SMS TAC", Receive the 6 digit TAC via SMS to authorize the transaction
  • "Transaction Successful"

*Click 'Add as Favourite Payee' link to register your bill as a favourite


Perform Payment via ATM/CDM Machine

ATM

  • Select "Other Transaction"
  • Select "Payment"
  • Select "Express Payment"
  • Select "Loan/Financing"
  • Select "Vehicle Loan/Hire Purchase"
  • Enter "Acc.No. or Vehicle no."
  • Enter "Amount"
  • Select the "Account" you wish to make payment from
  • "Confirmation" screen displayed
  • "Transaction completed"

CDM

  • Select "CDM"
  • Select "Cash Payment"
  • Select "Maybank Cash Payment"
  • Select "Loan/Financing"
  • Select "Vehicle Loan/Hire Purchase"
  • Enter "Acc.No.or Vehicle No."
  • "Insert Cash"
  • "Confirmation" screen display
  • "Transaction completed"


Apply for Standing Instruction

  • Complete the "Standing Instruction Form"
  • "Submit" to your "Auto Finance Centre"
  • Payment will be automatically debited from your account on a fixed schedule every month

Alternatively, you may walk in to any of our branches to make payment. 

Payments via Maybank2u for Hire Purchase or Al-Ijarah Thumma Al-Bai (AITAB) - ie.car loan/financing must be in the exact/full instalment amount. Please add payments for any other charges eg. overdue interest or miscellaneous charges with your instalment payment. Partial payments or insufficient instalment payments will not be accepted.


Fees and charges

Click here for a 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)

 

Title Five A

Contact Us

We are ready to listen. Our Customer Care Hotline at 1300 88 6688 or 603-7844 3696 (overseas) is open 24 hours a day, 7 days a week.


Title Five B

Locate a Branch

Find a Maybank branch nearby to you

 


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