Peugeot distributor Nasim and Kuwait Finance House collaborate to provide Islamic auto financing

Kuwait Finance House (KFH), Malaysia’s first foreign Islamic bank, has entered into an Automobile End-Financing Agreement with Peugeot distributor Nasim Sdn Bhd to provide auto financing based on the Shariah concept of Al-Ijarah Thumma Al Bai (AITAB) to Nasim’s customers.

The finance package will be made available to current and future Peugeot models. You can find detailed information about the finance packages at Nasim showrooms nationwide, where KFH representatives will be present to deal with queries. Adding to that, KFH will also engage Nasim dealers to provide attractive rates for banking facilities to customers.

“We are pleased to be entering this partnership with KFH. With this partnership, we will be able to extend the range of financing options offered to Peugeot customers to include these Islamic financing packages from KFH which offer attractive rates,” said SM Nasarudin SM Nasimuddin, Nasim CEO and joint group executive chairman of the Naza Group.

Do share your findings here if you’re checking out this Nasim-KFH scheme!

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Jacob Alexander

Jacob Mathew Alexander has been a motoring nut for as far as he can remember and has recently turned his passion into writing. After spending some time in the same industry in the UK, Jacob's work is from a slightly different perspective.

 

Comments

  • Francis on Aug 10, 2010 at 6:31 pm

    Do anyone thinks they will offer less than 3% for loan interest? missed those time where banks offering 2.8%

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  • 308_must_buy on Aug 10, 2010 at 7:25 pm

    hope they give good package to pug for pug lover

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  • MazdAstina on Aug 11, 2010 at 12:50 am

    The best financing in history Is the deal tat nazim gave for the pug 206. Zero percent interest for 9 years.

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    • lolypop on Aug 11, 2010 at 7:21 am

      all this term is just marketing gimmicks.. for sure ur interest had added into car purchase price..

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    • azman on Aug 11, 2010 at 3:18 pm

      it’s actually 0% interest for 12 yrs. for those non-finance ppl, for 0% interest loan, the longer the period, the better the deal.
      and also for muslims, it’s best to choose the 0% interest deal to avoid interest/riba’.

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  • y.c.low on Aug 11, 2010 at 8:48 am

    It is very welcoming and that means many Malaysians can now enjoy to drive Peugeot cars. I once owned a Peugeot 204S and it served me 20 years! It is still the best cars I have ever owned. Peugeot cars are both beautiful inside and outside. The technology is advance and the comfort – no other can beat!

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    • naim jonn on Aug 11, 2010 at 1:03 pm

      Yup agreed, their value depreciation ‘technology’ is 1st too

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  • actually for 12 years. but then they reduce the price to 4xk from 6xk. u do the maths.

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    • intermilan on Aug 16, 2010 at 9:33 am

      60K – interest free for 12 years vs 44K – with interest for 9 years

      The RM44K is slightly better, as it represent a saving of around RM4.5K over the loan tenure i.e. 9 years. or RM500 per year or RM41.66 per month or RM1.39 per day.

      Thing is, with the 12 years interest free loan, the monthly repayment is much lower. RM429 per month for the automatic. quite hard to resist that. but then 12 years loan for a car seems rather irresponsible. even 9 years loan seems wrong.

      Either way, both packages/prices were viewed as win-win situation for everyone involved. This car were sold for RM68.8K prior to that.

      Overpriced. That’s why it sale sunk and at last had to be discounted to clear all stock before its turn to rust.

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  • vee-dub on Aug 11, 2010 at 9:42 am

    so whats new about this?

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  • intermilan on Aug 13, 2010 at 3:43 pm

    No one know the rates or packages that KFH offers?

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