Proton – through its Proton Commerce (PCSB) subsidiary – has announced a car financing campaign specifically for fresh graduates. The Fresh Graduate Campaign, which runs until December 31, aims to provide those entering the workforce with the opportunity to own their first car at low hire purchase (HP) loan rates.

The interest rate starts at 2.98%, which the company says is presently one of the lowest in the segment. The basic requirement for a new graduate (minimum qualification, diploma) is that they be aged between 18-30 years and have a job with a minimum salary of RM1,500, and all that’s needed to qualify for the loan is a letter of employment or a month’s salary slip.

The company says the campaign is designed to help address the issues of mobility for those entering the job market in quicker fashion by providing the ability to obtain a HP loan without having to wait to furnish proof of income for three months, a common requirement for most HP loans.

“In today’s connected economy, mobility is important for young adults just entering the workforce. It provides a sense of empowerment and autonomy to these graduates. We are confident that this package will assist fresh graduates to own a car, as monthly repayments start from as low as RM239 per month,” said PCSB CEO Mooi Fi Phang.

He added that the HP industry is projected to experience a surge in the near future as a result of recent reduction in the reduction of the overnight policy rate (OPR) and the exemption of sales tax for passenger vehicles. Find out more about the campaign here.