CAR LOAN PROCEDURE – REQUIRED DOCUMENT CAR FINANCING – HOW TO BUY A NEW CAR / USED CAR – Pinjaman kereta
By kdi • Oct 28th, 2008 • Category: ! DAILY LATEST INFO, Tips
CAR LOAN PROCEDURE – REQUIRED DOCUMENT – HOW TO BUY A NEW CAR / USED CAR
Here is the car loan procedure and the required document for you to buy a new car or a used car from the car seller. You must have Driving License, Pay slip and Guarantor to get better interest rate for car loan in Malaysia. Procedure To Appy Loan & To Buy A Car in Malaysia is a bit complicated. To make it easier for you, refer to your car seller about the Loan approval for hire purchace agreement and car registration. You can check the latest plate number and choose your own desired car registration number in Malaysia. ”Pinjaman kereta” by Ambank Hire Purchase Car Financing is a better choice. Also check out the Islamic based financing for your car.
Required Document for Loan
Application (Copy)
Applicant:
1) Identity Card
2) Malaysian Driving License
3) Pay slip (3 Month Latest)
Supporting Document (if Any):
1) Bank Statement (3 Month Latest)
2) EPF Statement
3) EA Form
4) Offer Letter
5) Certificate/Diploma/Degree
Guarantor: (If Required by Bank)
1) Identity Card
2) Pay slip (3 Month Latest)
Applicants are encouraged to submit all document needed support by extra
documents in order to get better interest rate and approval chances…
Procedure To Appy Loan & To Buy A Car
Here is the procedure and steps or flow when you buy a new car in Malaysia:
1) Buyer choose model
2) Contact car seller, arrange for appoinment
3) Ready all required documents
4) Appointment with consultant at your door step
5) Documents submitted for loan processing (1 – 2 working days)
6) Interview by bank (1 – 2 working days)
7) Loan approval by bank manager (1 – 2 working days)
8) Hirer sign hire purchace agreement (one working day)
9) E-perolehan and chasis no process (1 – 2 working days)
10) Car allocation from showroom / headquarters (1 – 2 working days)
11) Car registration (one working day)
12) Car delivery to hirer
CHECK THE LATEST PLATE NUMBER IN EACH STATE IN MALAYSIA HERE
For Car Financing, Ambank Hire Purchase is the no.1 Car Financier in Malaysia with fast loan approval. It consist of 3,000 appointed car dealers with complete auto solutions. Ambank offers a 90% car financing for up to 9 years with easy repayment via Internet Banking or Electronic Banking nationwide.
For Car Refinancing, Ambank offers additional cash to ease cash flow. Cash can be unlocked without creating additional liability to settle financial woes and name still remains on JPJ registration card. Refinancing with Ambank also will ensure enjoyment of current Insurance NCD. There is also opportunity to switch to lower profits rates. Lastly, Ambank offers an alternative to re-package existing loan to Islamic based financing.
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hi i need to know the tables as according to monthly salary what is the max amount one can apply/get.
the rules of thumb for the max amount is,
your monthly repayment is less than 1/3 of you basic sallary,
but this is just a rough estimation
hihi.. i just wana ask if d bank reject our loan. so usualy when they will inform us ?? 1 day or 2 day ?? or after 1 week ? thank ..
simon,
it’s depend on how frequent your SA followup with bank officer …
myself hv xperienced where today submitted docs, tomorrow rec call from SA asked to go to bank to sign docs … not even got interview by bank …. wat a superb SA … huhuuu
Simon,
Basically it will take around 1 week for them to respond. If late more than one week, you must push your SA. Contact him to know the status. But if you have a very good SA, the respond will be around 1-3 days only.
Hi kdi,
I’m getting a 2nd hand car from a buyer directly. I’ve signed the Hire Purchase Agreement and awaiting response from the bank to settle the seller’s pending loan. Would you know anyone at the bank I can speak to in regards to my current loan status?
Hi,
i am sorry we dont have any contacts of any bank personnel
ic, anyhow.. thank you for your prompt reply kdi.
Can I add some reminder?
Here is the procedure and steps or flow when you buy a new car in Malaysia:
1) Buyer choose model
2) Contact car seller, arrange for appoinment
3) Ready all required documents
4) Appointment with consultant at your door step
5) Documents submitted for loan processing (1 – 2 working days)
6) Interview by bank (1 – 2 working days)
7) Loan approval by bank manager (1 – 2 working days)
8) Hirer sign hire purchace agreement (one working day)
9) E-perolehan and chasis no process (1 – 2 working days)
10) Car allocation from showroom / headquarters (1 – 2 working days)
11) Car registration (one working day)
12) Car delivery to hirer
After car delivery, check the whole car for any scratch or defects. Don’t accept the car before you are fully satisfied with the car. If any defects found, ask the person to repair.
i really need loan to buy a used car.. but, im working on a contract based.. basically, i dont have any payslip.. i just have a pay voucher.. came along with the check.. so, how do i make a loan? i really dont like this unfair requirement.. i have money what..
Saiful,
your case, same with me.. have money but no proof.. hik2.. anyway, you can try to find someone with big salary in her/his payslip to be your guarantor and try to find a good car dealer that may sincerely help you. in some cases, they will accept if you have a proper documentation even if you work on your own with contract based. Just try and try again and i believe one day you’ll get one of your dream car like me. =)
Saya masih ada loan kereta dengan Ambank baru je 3 tahun. Soalan saya bolehkah saya trade-in kereta saya itu untuk beli kereta yang baru?
mmg boleh….
ari2 ak bru gne kete 3 bln pas2 trade in….rugi2 mmg x dpt nk dielakkan..
kire kdai yg smbung bayar loan…
Hi, I am 53 and want to purchase a new car…will I be able to get financing without a guarantor?
hai .. i’m frm penang .. nak buat pinjaman kereta .. bukan blacklist ,..cuma ada late payment untuk loan rumah dimana saya jadi penjamin.. minta sesiapa yang boleh tolong untuk dapatkan pinjaman bank .. help pls
my no is 016-4221679
i’ve jzt started working this month ..so if thy needs latest 3 months payslip..is it means must 3 months working on same company?
I have payslips for
- Company A ( Dec , Jan ) , Company B ( March )
can apply?
nak bli krta baru sangkut.ada sapa ble tolong saya nak wat loan krta guna nama istri saya,mail kat saya kalau ada option
gmn info loan murah..?
Saya apply kete baru…setelah hantar semua doc…dealer ckp dia dah submit 2 bank..later few days…bank A call…ambil info…then the next day…dealer notify loan lulus…but in bank P..(bank P never call)….now the dealer…said just wait for the bank to prepare the surat perjanjian.
My kemuskilan is….bole macam ni….?….dealer tu menipu ke….(Saya tiada keluar satu sen pun untuk deposit).
Apa pendapat rakan 2
ady2480, most of the time the sales person will know best which bank can easy approve based on your financial track record and the documentation you gave. So since it is approved, just find out whether the terms and condition is ok to you-ie interest rates, down payments required, loan period, etc.
I suggest after you have check, and if it is ok..just take it. Nowadays banks are very strict in their processing and you are the lucky few to have their loan approved.
kdi status saya contract swasta. cane nk wat loan
ApisZ, please state what sort of loan you want..is it personal loan, housing loan, car loan, credit card? If you are referring to car loan please give more information like what car, used or new, loan size. Then we’ll try to help you.
hi..bank mana senang lulus kalau nak cuba apply loan sendiri tak guna dealer..thanks
V, bank’s loan processing officers also must adhere to the bank’s loan processing guidelines as laid out by the bank’s risk management committee. And they are not immuned from auditing that being conducted from time to time to check for any irregularities. Loan’s that being processed outside the guideline will be questioned. It’s even worse if the loan that being approved defaulted and the person who took the loan MIA within 12 months from date of approval and disbursement.
So your claim that a 3rd party can help in getting the loan approved ‘easier’ (senang) is baseless. However I agree if it is ‘faster’ since the dealer can ask the favour of the loan officer to ‘jump queue’ and process his application first.
Hi, I’ve got a Personal Loan amounting to x amount.
Now I’ve gone thru the necessary application and provided with required documentations.
However, Bank A (Hire Purchase) advised that my the amount i have to pay fmonthly or both (car & P Loan) will go more than 1/3 of my pay.
Question is, shouldn’t that be 1/3 of my pay for the payment of the car only and not to include my P Loan amount as well?
To support this, I have previously taken numerous amounts of P Loan and Credit Cards that could possibly be more than 2/3 of my pay and it was released without any problems. How so?
Please advise.
Thanks.
Al Z Boe,
In your case I think the bank sees the HP loan you gonna take is unsecure to them, since you have other loans needs repaying like P Loan which is fixed monthly repayment and your credit cards. Am I correct to assume that your P Loan is auto deduct from your salary? If that the case, I think this will lead to your application being declined.
I understand in many circumstances one of the spouse will bear the bulk of the loan since either he or she has all the valid documentations and is working with the govt sector. Govt servant has auto deduction facility, and this is a preferred form of payment by banks. I dunno whether you fall into this scenario, if it is you need to rope in a guarantor for your HP since you’ve not much left after all the deductions.
In fact banks will have all your financial record dealings with financial institutions via the CCRIS check, they can calculate what’s your current commitment.
Or otherwise, try get the car salesmen to try another bank, which I think wouldn’t help much either since bank B will know your application being declined by bank A.
Many Thanks Niemans for the quick reponse.
I was in the assumption that having PLoan deducted directly from salary, would have been a more secure choice for banks to provide better facility and guarantee. Guess I was wrong after all.
Also, I’m having only 1 PLoan at the moment… With the combination of both (HP n PLoan ) amount, it is then the amount will go above the 1/3 by on a mere RM 117 monthly. But yet again, procedure being procedure… can’t really do much but wait a couple of months more before purchasing anything of such.
Thanks a bunch again for the big help.
Much Appreciated.
Al Z Boe
Salam bro,untuk pengetauan saya dah sain agreement pada hari pertama puasa. tapi sampai sekarang masih belum dapat kereta…..dah kol banyak kali,tapi jawapan mengecewakan…..apa yang boleh dibuat sekarang