Hong Leong Auto Loan

Hassle free car loan that puts you straight in the driver's seat - great rates and convenient payment options

Hong Leong Auto LoanInsurance & Road Tax Renewal
up to 9 years
Loan Type
Fixed Financing loan
Interest Type
Margin of finance
Up to 90%
Excess Repayment
Not applicable
Early Settlement Rebate

Interest rates

How much the bank charges you based on your loan amount & loan period

ConditionMaximum YearsMargin of FinanceInterest rate
New9 years90%3.24% p.a.
Used7 years90%3.78% p.a.

Fees & Charges

Interest Rate for New Cars
from 2.8% p.a. to 3.24% p.a., depending on car brand, borrowing amount, and period
Interest Rate for Used Cars
from as low as 3.78% p.a., depending on car brand, borrowing amount, and period
Stamp Duty
Early Settlement Fee
Late Penalty Fee
8%  p.a on the outstanding balance


Minimum Annual Income
Minimum Age
  • 21 to 70 years old
Who can apply
  • Malaysians

More Information

What is this product about?

A hire purchase facility where you can use to part-finance your dream car. Once you have made full repayment, Hong Leong will transfer the vehicle ownership title to you.

Hong Leong Bank offers 2 types of interest rates: fixed or variable interest rate (quoted at a margin above the bank's Base Lending Rate and not exceeding 17%) that you can choose under this hire purchase facility.

How much can I borrow to finance my car?

That really depends on the type of car and it's current condition. Hong Leong can finance up to 90% of seller's invoice with repayment up to 108 months. You can use this facility to purchase all types of new and used vehicles; inclusive of reconditioned ones.

ConditionFinancing MarginMaximum Tenure
New90%Up to 108 months
Up to 5 years85%Up to 84 months
6 to 10 years85%Up to 108 months

As an added benefit, Hong Leong also has their own insurance and road tax renewal services, which can save precious time when you're rushing to get everything organised.

Convenient payment options you say?

Yes, we are all rushed for time, that is why the bank allows for alternate ways to pay monthly installments such as the Hong Leong's very own online banking service, interbank GIRO, or even over-the-counter at your local Hong Leong branch.

Your repayments are based on a flat interest rate, which means you do not have to worry about your payments changing over the course of your loan.

What if I somehow forget to pay?

That would prove to be detrimental to your wallet! You'll have to pay 8% penalty on the overdue amount for your forgetfulness. For variable rate, 2% charges will be imposed on your outstanding balance. 

Not only that, if you are super forgetful, the bank could repossess your car if it's found that you defaulted on your payments for two consecutive months. So please stay up to date with your loan bills!

Scary, but how about early settlement?

Yes, you may choose to pay off your loan at anytime if you think you will have enough funds for the months ahead after paying off all your debts in one fell swoop. You will be entitled to an interest rebate on the remaining financing period.

What documents do I need to apply?

Salaried Applicant:

  • NRIC
  • Driving License
  • Latest 3-months salary slips
  • Latest Borang BE (supported with tax payment receipt)
  • Latest EPF statement with at least 6 months contribution
  • Latest 3-months bank statement / saving passbook
  • Letter of employment

Self-employed Applicant:

  • NRIC
  • Driving License
  • Latest 6-months bank statements or savings passbook
  • Latest Borang B (supported with tax payment receipt)
  • Business Registration & Form D
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