Financial Institutions in Malaysia Offer Hire Purchase Facilities (Car Loan)

Purchasing a car through hire purchase (HP) is a widely used method to gain car ownership. This entails renting goods with an option to purchase them at the conclusion of the hire purchase term. If you decide to pursue HP financing, you will be the hirer while the financier acts as the owner.

The hirer is required to make payments to the financier throughout the agreed-upon period while the vehicle is in their possession. Upon completion of all payments, ownership of the vehicle is then transferred to the hirer.

It's important to note that in Malaysia, only domestic banks are authorized to provide personal hire purchase (car loan) services.

Below is a list of financial institutions that offer car loans:

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