Islamic Products
Islamic Vehicle Financing
Eligibility Criteria
- the financing is created in connection with the purchase/refinancing of private and non-commercial vehicles:
- the initial amount financed must not exceed RM400,000;
- the original financing period must not be more than seven years prior to the purchase date;
- the maturity date of the financing must not be less than six months from the purchase date;
- the vehicle has a valid and comprehensive vehicle takaful policy covering not less than the outstanding balance (being the outstanding amount) at the time of purchase;
- the Originator’s interest as the financier has been duly endorsed on the registration card/document of title of the vehicle; and
- comply with other criteria as per Cagamas’ requirements