Down Payment

The difference between the car price and the loan amount.

Effective from 26 May 2016, minimum down payment will be dependent on Open market value (OMV) of the car. Cars with OMV exceeding $20,000 will be entitled to a maximum loan value of 60% of car price (minimum 40% down payment) whereas OMV $20,000 and below will be 70% of car price (minimum 30% down payment).

The loan term is a maximum of 7 years.

These financing restrictions does not apply to loans for purchase of commercial vehicles (not including goods-cum-passengers vehicles).