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.
Prosedur Pinjaman kereta by KDI
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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. =)
dekat 2 mggu sya tggu. .bank sudah call tpi pending aprove. .klu xllus bagi tau la. .jgn buat org trtggu. .
hi, saiful and kdi… i’m a car agent from penang and dealing with bank for loans (new and 2nd hand cars).. i had done for few of my customer with same prob.. if dont mind pls contact me @ 0197117123, i will try me best to solve the prob..
if foreigner student but working part time, possible or not to loan?
Hi, I want to sell my car. I have loan from maybank. Buyer asks me to arrange loan for him. Is this normal? Why can’t he arrange it himself? And how do I arrange loan for him? Do I lose anything by doing this? Thanks
hi kdi, i want loan a car. but im also just get a job. can u advise me? tq
Hi i want to know can i buy a car with my learning license…please let me know, do insurance company accept it.
Hi, I am holding learning license can i buy car in malaysia.
anyone interest to buy new car..pls contact me..01133323791 ebby
got more discount..more free gifts..
hi , i m fresh graduate , i have all document but not have car licence .
can anyone help me to buy 2nd car ? any way to process without car licence ?
i not have any guranto .
hi, may i ask after get approval by the bank. Is that any possible can get the car within 3 days? because i very urgent for working outstation.
Hi, may i know when is the first hire purchase installment upon loan approval, is it after 1 month or immediately once we get the car..
Hi, may i know wat requirement must give for guarantor for car loan… if guarantor previous got SPECIAL ATTENTION CASE in bank but now all payment is very good no any outstanding loan, so got any problem for tis.
What are the procedured to buy a car from a direct seller (owner)… . The process is so complicated, no bank are giving loans to buy directly from seller(owner). Any suggestions on banks that will do it.