Mach by Hong Leong Bank

Hong Leong Mach Cruise Control Car Loan

Quick car loan. Get great savings on interest charges and lightning fast approval - Mach Cruise Control will get you on the road faster

    • Up to 9 years tenure
    • Full-Flexi loan
    • Variable interest rate
    • Up to 90% margin of finance
    • Excess Repayment
  • ConditionOriginMaximum YearsMargin of FinanceInterest Rate
    NewLocal9 years90%3.1% p.a.
    Foreign9 years90%2.6% p.a.

Fees & Charges

There are always fees but how much are they?

Interest Rate for New Cars
from 2.6% p.a. to 3.1% p.a., depending on car brand, borrowing amount, and period.
Stamp Duty
Early Settlement Fee
Late Penalty Fee
2% above prevailing rate of term charges


Do you qualify for this loan?

Minimum annual income
Minimum age
18 years old
Maximum age
70 years old
Who can Apply
  • Malaysians

Frequently Asked Questions about Hong Leong Mach Cruise Control Car Loan

Things you might want to know

How is the Cruise Control Car Loan different from other car loans?

The Mach Cruise Control Car Loan is a hire purchase facility which offers flexible repayments using your Drive Account. Just like a full-flexi home loan, you can own your car quickly and enjoy huge savings along the way.

Here how it works: whenever you make extra deposit into your Drive Account, the available balance (subject to 30% cap) will be used to offset the outstanding balance in your car loan account, thus reducing your interest payment. Eventually, you can cut short your loan tenor with more payment goes toward reducing the principal amount.

How do I know if I am eligible for this car loan?

Someone as young as 18 years old can apply for this loan. Of course, your application is still dependent on your credit rating. If you think you are not financially sound, it might be a good idea to find someone to go guarantor for your car loan.

If you think getting back to you in three working days is fast, Hong Leong Mach will be able to give you a conditional approval in 15 minutes!

What are my monthly repayments?

Your car loan repayments are calculated based on your borrowing amount and your chosen financing period. You can pay extra on top of your installments to fully benefit from the Cruise Control Car Loan, especially convenient if you compliment it with a debit card from Hong Leong Mach.

Otherwise, it might be better to have a flat rate car loan with a lower fixed interest rate. But bear in mind that to set up the Drive account, you will need to pay a set-up fee of RM200 and a monthly fee of RM10.

And if i do not pay off my installments?

You will be charged an additional 2% above your car loan interest rate. Keep missing your payments and the bank has the authority to repossess your car.

On top of flexible repayments, can I pay a lump sum at any period for early settlement?

Yes you can! And, there's no charge for an early repayment. You might be better off paying extra gradually to reduce interest charges and principal amount, instead of paying it all off in one go!

What documents do I need when applying?

Here are the documents needed, on top of your MyKad and driving license.

Salaried applicant:

  • Latest 3-months salary slip
  • Latest Borang BE (Supported by tax repayment receipt)
  • Latest 6-months EPF statement
  • Latest 3-months bank statement/saving passbook
  • Letter of employment


  • Latest 6-months bank statements/savings passbook
  • Latest Borang B( Supported with tax payment receipt)
  • Latest 6-months commission statements

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