Islamic financing Archives

Two more financing schemes available for new Toyota purchases

Those who are planning to buy the latest Toyota Hilux or any Toyota model have a choice of various schemes from UMW Toyota Motor (UMWT) to help them with financing. These are the Toyota EZ Beli Plan, Jom Drive, AITAB, Toyota Drive, Toyota Flexi Plan as well as conventional Hire-Purchase and Vehicle Lease financing schemes which are available from all authorized Toyota dealerships and UMWT branches nationwide.

Two new schemes
UMWT, in collaboration with Bank Islam Malaysia Berhad, now offers another two more which are Shariah Compliant Term Financing schemes to its customers – Vehicle Financing-i and Vehicle Financing-i GradHitz.

Vehicle Financing-i is available for all customers aged up to 60 years old with a minimum income of RM2,800 or more. Vehicle Financing-i GradHitz is a special package tailored for newly employed young graduates, aged less than 30 years, with a minimum qualification of a diploma degree from a recognized institution under Malaysian Qualifications Agency (MQA). For this scheme, they can apply for up to 100% margin of financing (terms and conditions apply).

Both schemes are based on term financing under the principle of Murabahah to the Purchase Order as a cost-plus profit financing contract. The financing tenure is up to 9 years, with fixed profit rates from 2.35% to 2.55% per annum. Customers will be eligible for Ibra’ (rebate) if full settlement is made before the maturity period of the financing.

The two Bank Islam financing schemes are applicable for all new Toyota models sold by authorized Toyota dealerships throughout Malaysia (including the Labuan and Langkawi duty-free zones).

Takaful coverage for peace of mind
Auto Financing Takaful Plan (AFTP), a takaful coverage, is also offered to customers. The plan covers the outstanding financing amount in the event of death or permanent disability within the financing period. The AFTP contribution is calculated based on financing amount and age of the applicant.

Customers who require more information may contact any authorized Toyota dealership in Peninsular and East Malaysia. Locations of the dealerships can be found at www.toyota.com.my.

100% financing packages to buy new Toyota or Lexus models

Special financing package for graduates who wish to own a Toyota

For those who are starting their journey into the working world after graduation, having personal transport might be something they have been looking forward to. To help graduates acquire a new car,

UMW Toyota Motor Sdn Bhd (UMWT), in collaboration with Maybank Islamic Berhad, has a special financing package just for graduates who wish to purchase a new Toyota Vios, Yaris or Avanza.

The Murabahah Vehicle Term Financing-i (MVTF-i), in accordance with the Murabahah principles, will provide an additional financing option to the graduates besides the Islamic Hire-Purchase (HP) financing in accordance with Al Ijarah Thumma Al-Bai (AITAB). This financing package is only available in Peninsular Malaysia.

Murabahah financing also follows Islamic financing principles and the combined amount financed can be up to 100% with takaful contribution of Takaful bundling and other costs (legal costs, stamp duty, etc).

“At UMW Toyota Motor, we are always looking for the best ways to work with our business partners for our customers to own a brand new Toyota vehicle. With this new financing package, graduates will be able to acquire a Toyota Vios, Yaris or Avanza as the financing package helps to make the downpayment more affordable. The support we offer will also make the ownership experience enjoyable for many years to come,” said Ravindran K., President of UMW Toyota Motor.

The financing is available to graduates (degree-holders) who are aged between 21 and 30 years old and are currently employed. They should be earning at least RM3,000 a month and have been employed for a minimum of 6 months. For those with less than 6 months of employment, their parents can act as guarantors (subject to Terms & Conditions).

Should their income be less than RM3,000 but more than RM2,000, it is still possible to apply for the financing package provided their parents (as guarantors) have a household income of RM5,000 or more.

*Full aftersales support is available from the network of authorised Toyota service centres nationwide.*

The Toyota Vios, Yaris and Avanza are among the best-selling models in the non-national segment in the Malaysian market. With their compact size, ease of driving, economical performance from 1.5-litre engines, and low cost of maintenance, they would be ideal for those who are just starting out in the working world.

Features such as the Blind Spot Monitor (BSM) with Rear Cross Traffic Alert (RCTA) and of course standard items like airbags and ABS ensure that safety aspects are covered.

For peace of mind, the Manufacturer’s Warranty is 5 years and as there is no limit on mileage travelled, this means that warranty coverage is for the full period of time. Additionally, if insurance coverage is purchased from UMW Toyota Motor’s authorized dealers, owners receive free membership to 24SEVEN Road Assist breakdown and emergency service assistance available 24 hours a day, 7 days a week.

Authorized Toyota dealers nationwide can provide more information or visit the Toyota Malaysia website at Toyota.com.my.

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