Bank Rakyat has announced that it will offer 100% financing services on Proton models, according to Bernama – this includes the recently-launched 2016 Proton Perdana.
The national news agency quoted the bank’s chairman, Tan Sri Abdul Aziz Zainal, as saying that the loan would be offered at all times to employees in both public and private sectors, who meet the loan’s conditions.
“Bank Rakyat always gives priority to customer needs and, as an incentive to help the people own local products, we come up with this offer,” he said.
Proton has long regarded the low loan approval rates as being a major factor in its struggling sales performance. Earlier this year, then-CEO Datuk Abdul Harith Abdullah blamed lacklustre sales of the Iriz – averaging just 2,000 units monthly, around half that of the national carmaker’s 4,000 to 5,000 unit target – on the poor rates, and said that the company was working with financial institutions to rectify the issue.
Looking to sell your car? Sell it with Carro.
Very good, no 1 household debt in the world soon to be
Soon Malaysia will be like Greek thanks to Proton
Get a 100% loan on RM138k getting an outdated accord with Proton emblem and syok sendiri on the road? It is typical sozai behavior.
Noone forces you too buy, if cannot afford dun buy
Later Proton says you not Patriotic how?
Bashers not patriotic, dah la cannot afford proton, then bash pulak.
Topkek
Already no money for downpayment, still wanna die die buy this junk? Considering HP interest rate 3% and 9 years repayment period, the owner still have to pay RM1623 every month. Road tax? Insurance? Maintenance? Toll? Petrol? Parking?
Soon you will see a lot of lelong units at Bank Rakyat lelong…
Proton now playing a role – getting more people filing in bankruptcy.
I would withdraw my money from that stupid bank if I were you…
100% loan is basically suicidal!
Our country is doing stupid things again… Thanks to BN and those who support it
Bank Rakyat is very smart bank indeed. Making money from gullible car buyers. Hahaha!
Different era now. I think SPAD will be the one mostly affected. Why? Because everybody 100% loan Proton, when cannot pay back, just be an Uber driver, confirm can pay back for loan duration <7yrs.
this bank rakyat is very supportive towards PROTON and Malaysian work culture! unlike the outgoing MAS CEO who doesnt know sleeping during working hours is our culture!
Yes! Sleeping is our culture, just like eating Nasi Lemak
The killing part is not loan amount but interest rate and tenure….
full loan but at what rate. beribu ribu tahniah.
SEmi the Value,
I watch a video on mercedes benze car assembly and production.
A German lady worker put the final touches to the Benze by inserting the three star logo,but she display such confidence and dignity…giving the benze a 7 STAR reception by those who appreciate METICULOUS QUALITY.
The same cannot apply for poor Protong.
Up till todate,the power window issue still resurface now and then.
Even the Pondana..I believe defective workmanship will surface during assembly.
Proton’s worker have no more DIGNITY.
They pray very hard that they wont be retrenched or kicked to Tanjong Malim.
Those who wish to buy a Proton,be prepared their demoralised workers may even sabotage the car,as impending layoffs are around the corner,maybe after Raya.
Seriously I never heard any problem with the power window from proton new model like iriz and preve. My friend has use a saga for more than 1 year. So far no problem except for the fuel consumption a bit high.
Power window story sudah basi, even your foreign overlord three star logo company dun give lifetime warranty for it like proton
For many years kunta and i used proton, even our current persona not easy to get loan, this is not a bad ideas from bank rakyat.
Then when the banks are in trouble and full of NPL, they will still use the rakyat’s money to bail the banks out. Like the past 20 years, so many banks had so many problems, very simple, create a bogus organisation like Danaharta and write off all the NPL.
Yes, salary can be deducted as per terms of the loans, but the borrower won’t have money to pay for all his other payments ie house loan, Unifi, TNB, Insurance, groceries, education, healthcare etc etc.
Bank Rakyat, don’t be a babu pondan. Gomen ask you to eat taik, you go eat taik.
Why you replied to your own dupe?
so early give so good deal?? difficult to sell is it?
Wah… so desperate huh…. 100%loan to buy a new used car. Hahaha
LOL …. 100% financing, looks like Potong wanna bankrupt more people by luring those stupid enough to buy this ugly outdate potong turd giving 100% loan and after one year, they try to sell, koyak end up paying back more money to bank or going bankrupt. What a rip off and even bigger failure, just launch and already giving 100% financing…that speaks volumes about trying to sell this potong junk
Yes blame proton for bankruptcy although it is the customer who is making the wrong decision by taking 100% loan. It’s in your choice. It’s not that you cannot take other loan
Totally agreed. It could be less than 6 months, their ‘Punchtaik’ CVT automataik gearbox suddenly ‘Punch’ and koyak (you knowlah, from day 1 their cheapest CVT gearbox already ‘Punch’ many times), try to sell also cannot (need to top up few tens of thousands RM to bank)
Usually Malaysian carbuyers mentality is, even cheap ‘s’crap cars with Punch CVTaik automataik also they will buy, as long it’s not manual cars.
You watch too much DSG kaput, Punch CVT is not problematic
Ini lah prestige car … 100% from bank rakyat
very innovative sales and marketing strategies …everybody can bawak proton now….long live proton. God save proton !
This alone shows how irresponsible Bank Rakyat it. You should not give 100% loans because it is highly risky not only for the bank but also the borrower. Now, the bank here is encouraging bankruptcies.
Malaysia has the highest number of Bankruptcy orders against people due to car loans. People like Bank Rakyat is encouraging people to go bust.
Are you a fool?? It’s not that you cannot take other loan. They just widen the choice for customer. If the customer is bankrupt due to this loan then it is the customer fault by not taking seriously of his expenditure. Yeah blame proton for everything. So much hatred in this comment.
Seriously, do you know how economics work and how incentive works?
Have you heard of subprime lending that causes an economic meltdown? So it’s not the predatory lender that was at fault, it was the gullible consumer who was sold to by these sweet talking incentives with zero consequences?
Do your homework. If there’s an incentives to be had by the Proton sales agent to sell as many Proton as possible, you can be sure they would push it real hard to credit defunct consumer. And do you really think that people who could not afford 10% down can really afford to borrow 100% loan with zero financial replication. Please be real!
Bank Rakyat prefers those for working for the government. And can extend the loan tenure up to 10 years. Even if the debt exposure for an applicant is over 50%, the bank can approve the loan as long as you are a government servant.
Financing is subject to credit worthiness of borrower. All Banks, regulated by BNM, are subject to performing strict credit checks. Not just any tom, Dick and Harry can get their loans/financing approved without proving their ability for repayment first.
I guess bank’s liability and risk already been negotiated lah bro, proton now desperate to show how successful this project … I think next strategy will be 100% loan + cash rebate
suka hati diorg lah nak bagi full loan ke apa..bank tu bukan bapak kau punye lah
If you need 100% loan, better don’t buy.
Well said bro. If no money better don’t buy
True, it’s not a sin to ride a bicycle or motorcycle if you are less loaded. It’s millon times better than showing off with Protaik and also Toyotaik with full loan.
Since proton owners showing off syok sendiri?
It’s all basher’s dream
They said pipu sleep actually bashers who sleep
Inb4 cukurlah ada Bank Rakyat, Proton dapat tingkatkan sales kereta ekzos tiruan
congratulation!!! and good luck. now everyone can drive a Proton.
congratulation!!! Bolehland will be Doomsland…
Able to buy/afford a RM100k above car onwer, who need Bank assistance excepted they’re financial difficulties… Stupid excuses from a Bank!!!
Bank is giving to a bleeding not performing bankrupt firm with bleak future business model? Big joke
If you really need 100% loan , my advice is get a cheaper car .
Yes canai
just out of curiosity, by having a fully 100% loan, dosent that mean that buyers have to pay a bigger monthly fee than usual? And how long will this loan be? And how would this affect the Malaysian citizens who go bankrupt largely due to car purchases.
Also… I honestly did not predict that the iriz sales to be that lacklustre given they only had to compete with mainly the Myvi and Axia, not really a challenge compared to the dozens of alternative that the Perdana has to face in its price brackets, and no matter how low volume, they targeted a annual 3000 sales for the Perdana, a number that is unacchivable by the even better spec and cheaper iriz.
Correction. 3000 per year on the Perdana. Read that wrongly. So they need to average 250 sales on the Perdana a month. Possible.
The Iriz has got better safety spec than its other competitors
It shows one thing, REAL buyers wants cars with quality backed by good after sales service
No point having a car which is good on paper but plagued by quality issues and non existent after sales service
The only way for Proton to turn around is to sell well built cars with an excellent after sales service
Each time they launched a car with good specs I know it wont sell well, because they used up all their resources to make cars that are good on specs only while leaving out quality and after sales service
I might have misunderstood you here, but 2000 is the average monthly sales for Iriz, while 3000 is annual target for Perdana.
Yea I mis-read that slightly and didn’t bother to fact check on the 3000 Annum sale for the Perdana. Thought they were aiming for monthly sales for Perdana.
Thou that puts it seriously low for the Perdana, might as well just skip development of the Perdana
If skipped where got capital to build next gen of perdana?
You mean rebadge? I think it’s few dollars
Yup, that’s why it comes with 3 stages from cheapest option/type of rebadging (gomen fleet) rebadging to platform sharing with new engine
Capital is much needed.
PaulTan, you all nothing better to post it? I know you guys get paid to post on Proton, but there’s no need to post EVERY single thing they do.
Tak suka, u r free to start ur own autoblog without P1. Lets see how many traffic u can get without local news.
May the most relevant blog wins then.
You are the one ask people to leave if dont like,assuming this is own by your father. Can you please ask proton to leave malaysia as malaysian dont like proton.
Only you dun like
typical Malaysian …If no local news said not patriotic now got local news said annoying…wtf with their mind lately ?
What!!!! 100% loan?!! Time are bad…
the monthly installment will be huge. i wonder who will buy a perdana with no downpayment. lmao
No worries…. 30 years loan…. monthly few hundred only…
The different between 90% and 100% loan of RM113,888 for 9 years at 2.7% interest rate is about RM130/month. A typical 4k monthly salaried person could have gotten the loan approved. If your monthly salary is 4k, would you dare to commit to a Perdana with 100% loan?
Good move Bank Rakyat. Giving 100% loan but what is the terms and condition? What is the interest rate? Loan duration? This move will make Malaysian forever in debts.
How can a move that you said “will make Malaysian forever in debts” can be a good move? You sure u r thinking straight or not?
As for the interst rate.. surely within the normal range of auto loan.
Good for the bank, bad for the rakyat. Ironically it’s called Bank Rakyat. Should change to Bank Kroni/Bank Proton
I think most of you has misunderstanding on the FULL FINANCING. It has a terms and conditions before you qualify for the full financing.
One of the terms is via salary deduction by employer for those in private sector and Biro Perkhidmatan Angkasa for government employees and related Koperasi.
Thus, the risk is reduced significantly through this campaign.
Those who misunderstood never reads the fine print terms and conditions before signing anything.
It’s you do not have the logic of financial knowledge instead….
You think bank so free, go deduct from your employer for private sector…gomen don’t have to say lar ….their jobs are secured…private sector…lost job then what !! Terms and conditions will be putting maybe 2 guarantors, putting up your liver or kidney if cannot pay, maybe even your property will be taken into their terms and conditions in case you bankrupt !! Bank also not stupid plus the interest must be through the roof ..end up pay 300K plus for full 100% loan and this pondana will be worth RM50k after 1 year …imagine trying to settle off with the bank !! HAHA Good LUCK !!
Household debt in Malaysia will continue to skyrocket since we’re paying everything with installments from house up to new washing machine. If U can’t afford to even pay the minimum 10% downpayment u have a serious financial issue there.
Buy washing machine also with loan ka? Those who did, definitely have serious financial issue.. loan should be limited to housing, car and kapcai only.. the rest, no money, just look..
I’ll always buy whatever I need (washing machine included) with zero percent installment. Better return for me compared to paying lump sum.
It’s not just washing machine and stuff. Heck even PHONES are now offered in installments. MOST millennials are so focused on having the latest until telcos are sending out lawyer letters to those who racked up to 3-4K in PHONE related bills lmao.
Today going to one of the Proton showrooms, unfortunately the sales person said the new Perdana is not arrive yet. In comparison to Honda Civic that launched last Thursday, their test drive unit is ready after the announcement of the released. Proton really needs to improve their services tremendously!
Agreed with you. It happen to every launch. How stupid proton market their car. Remember tun always said test drive the car. No unit how to test. Proton marketing is really bad which kill the car itself.
What Tun means is to test drive Porsche, not Proton cars. Driving a Porsche is syok you know?
People, please do not over-react. There is a caveat. ….. “who meet the loan’s condition.” Do you think they will give a guy who earns RM 2500 a month a 100% loan to buy a Perdana?
There are many bankruptcies due to unable to service their HP loans. If a person needed 100% loan, the affordability should be questioned. Banks are not charity body. They take calculated risk and approved loans at discretion, and often time not hesitate to put their clients into bankruptcy.
Msian need to learn debt management.. just blaming car manufacturer and loan provider will not solve this issue.. if couldnt afford 10%, just standby 5% and wait for promotion la.. of course, your monthly salary must be more than 10k..
If not, how to sell?
Yes if car loan stretched to 15 years…
In Malaysia, you can get loan even if you got no job lah brader. I know people got no job also can get RM1 mil bank loan.
The Malays in Proton are no different from the Malays in the government. They expect to be paid for shitty work and even sleeping on the job. They cannot be fired because their votes keep the MALAYsian government in power. Pendatangs are not welcomed among them because these unpatriotic Malaysians work too hard thereby destroying the Ketuanan work culture. I weep for my country.
Jackpot
I’m cringing by reading stupid comments here. If you think you are unable to take the 100% loan then take other loan lah. Is it hard to take other loan. And I bet you won’t even buying this car.
We wil have 2 generations car loan scheme coming up next….lol…
From accordana to pondana (what a name we got!) so perfectly describe
Just a rebadge car, not a real 100% luxury proton model n why they looks so excited?? …I mean it based on kuno 8th generation Honda Accord ..
This clearly shows how UNCONFIDENT P1 are with their Pondana. They know they can’t sell this car well that’s why have to find other strategies to push this car’s sales.
Good Luck!
Dahlah nak bankrupt tapi masih nak buat kecoh nak tarik Bank Rakyat bankrupt bersama sama.
Let’s see how well this 100% loan will turn out.
Good luck really good luck!
By the time the car is fully paid, (probably from 9-12 years period) plus with high bank interest, this Pondana would lost 70% of its value, while the car will be plagued with lots of problems.
Worst will be that this Pondana be expensive to run, as others are turbo-ed, hybrids, possibly electric.
Very-very good luck to those Pondana owners…..
100% where got enough? 110% will be a good offer, let give the new buyer a free petrol for 1st year and free services for first 5 years, proton buy back scheme should add more attractive for this perdana.
Bank Rakyat a bank, really. A bank willing to give 100% loan for something depreciating says a lot of their intended “customer”, desperado comes to mind.
Well done proton & bank rakyat. Ignore all these negative comments from keyboard warriors.
Yes, haters won’t get 100% loan to buy a Proton, only supporters will. Oh wai…
Proton are treating his buyer all Zero financial knowledge.. perhaps negative!! No wonder how you run the show and you assume all potential buyer same like you be able to get loan at anytime when you need it..as long as I get what I want…not what I need!!
most haters wont qualify for a 100k car, why bother..
Well done proton..if there is no loan to be offered by the bank..I would still buy proton cars with CASH…because I have guts not like the others…
Malu lah, nanti org ketawa u… apa tidak beli new ori accord yang lebih cantik interior dan exterior. U beli ini p1 perdana macam beli kereta model 2008? Kereta baru yang outdated….. malu….. sedih bila. duduk dalam driving…… tengok betul betul, interior 2008 accord!!!!! Sedih!!! Over 110k? Akai……… civic saja lah… ori Honda, looks better, bawa amoi ada gaya…..
Interior Bimmer 20 tahun sama je tak malu pulak
That is not news. Bought a civic in 2007 with 100 percent loan on 5 years. Submitted loan docs for a fully kitted stupid spoilers and akward skirtings just to justify the extra price but took delivery of a bog standard 1.8S (spolera and skirtings on cars makes the look damn al cheapo). Without paying any down payment I got to keep all proceeds from the sale of a fully paid up Altis in Tabung Haji and earn a decent amount of returns instead of using them as down payment. Now tell me if it wasn’t a wise decision. Sometimes a full loan is not a burden but a bleasing.
If your proceed in taking haji earn u interest about your car loan then I will say it’s a smart move
What nonsense is this? Proton is already a cheap car and still need 100% loan. This people really that broke to not able to afford even a proton?
For 100% loan application, make sure that the car don’t get stolen for at least the first three years. U might end up owing the difference (actual settlement value is usually higher than the market value) to the financier. In event of theft, motor policy policy will only compensate based on market value or the sum insured, whichever is less.
Only loser need 100% loan to buy a car
Now everyone can afford the Premium and Luxury Proton A̶c̶c̶o̶r̶d̶ Perdana.
So you solve the problem of low approval rates by getting a bank to give 100% loan? Bravo.
This is a dumb move by both bank and company, not to mention the government for allowing this to happen.
If you cannot stump up the cash to buy a car what makes you think a 100% loan can? In fact, doing this only allows the bank to profit on the downpayment you cannot make by charging you interest on it! In the end? Biggest loser still the buyer.
Why this simple math escapes the general public is beyond me. Maybe the subpar education system we have here is the main contributing factor.
I do hope that it’s not coming from the bank’s own free will. Otherwise, which commercial bank would make such non sensible and non economical decision. No wonder Bank Rakyat remains in its negligible position in the country. But then again, Bank Rakyat could always seek help from our government like Proton always do, begging for billions when the bank is in trouble.
Malaysians should move from car ownership to car leasing with a guaranteed buyback value by the car company. That way there is no worry on residual or resale value and the headache of selling the car later. Just drive for 5 years and return the car and take on a new one.
Aiya ! No need to kutuk kutuk bank rakyat and proton , if don’t like perdana , go to honda dealer buy stupid civic 1.5 turbo , after turbo rosak you will know , you throw rm 130k to longkang , peace yo
Y need Bank Rakyat give 100% loan to a “PRESTIGE CAR”?
Can Bank Rakyat should consider giving 100% loan to the real prestige car Mercedes/BMW/Audi instead to everyone!
Bila proton dh boleh guna enjin petronas tu, hrp2 perdana ni boleh di ‘tune’ ke lotus handling, tambah jd 6/7 airbag, masukkan keyless entry. MAINTAIN 5 GB AT LEAST. NO CVT. Baru berbaloi.
Thie is outrageous. even 90% loan is scary as After some time some might find out that the cost of car ownership plus hire purchase loan is too much to bear.
Problem is with a 90% loan for most car model, you have to top up to pay off the loan if you want to get rid of the car. Now, if there is a situation wherby the purchaser is struggling to pay back the loan, no easy way out.
Will be even worse with 100% loan.
Need to loan 100% with negative interest rate only can sell
If I am cash rich also I will take up 100% loan. My own money keep in FD and make the monthly FD pay up the monthly finance. I get the car for free.
Friday around Manjalala saw a Pontana test car on the road and seriously the design of outer look is sure better than the accord, putting it from 80k-100k top should able to get some buy…this price 130k? Nah, I happily get a sonata promo with 8 years warranty, Tucson, new accord, or HRV, or 2nd hand c class or 3 series..all provide different purposes of the buying trend if proton have not recognize why consumer buy a car in the first place…
Chill out la guys. Bank business is to make money. You think bank rakyat is so stupid give 100% loan to any tom dick and harry? They may stated 100% to support proton. In actual they will do very strict assessment to each of the applicant.
100% financing for the car?! Proton requesting for that is ridiculous, but the bank approving it is equally or even more ridiculous.
Mark my words…….this is where it start to get seriously interesting for Proton, the Bank, the government and the Malaysian Motor Industry
Why all you people so worked up ??? Think your father money ahh ?? The bank Rakyat want to give 100% loan means their wish laa. Later bank Rakyat also can ask for RM 1.5 billion loan from government next year – problem solved!
If buying a car can get 100% loan, then buying a house at least 150% loan because of appreciation of value.
Bank Negara should seriously implement strict background checks to ensure only credible buyers are allowed to take out a loan. We don’t want buyers getting trapped & being slaves to banks for the next 9 years.
Read PT’s report on bankruptcies due to car purchases.
Bad move Bank Rakyat , you are not helping the Rakyat !!!
It’s not to help the Rakyat, it’s to help the Proton Cronies
Who are proton cronies?
Waaaahhh… good news… 100% loan with 9 year tenure-ship.. Syiok lor… A kid born the day when loan approved, when he is in standard 3 the loan will finish, car will gone kaput, total paid up 2x the OTR price… very good.. thank you Bank Rakyat..you are so smart…protong oso so bijak… rakyat wins… yahooo..
Smart people will take 100% loan with the longest tenure, let say 9 years. Why? Because the cash money better to throw in investment, not for the car’s down payment.
Mahu Invest apa? BOSS…
Bagus P1 kasi harga 80k to 90k…. then ppl no complain… bcos is a 2008 model with new looks only…
Livina Vios etc are also old model with new looks, you dun bash pulak
Topkek
this news is not new. In 2013 i bought a car and ambank gave me 100%loan. I also dont have to put booking fees for that car.
I urge everyone just to be abit careful guys.
Spend within your means and try not to go too high gearing and incur too much household debt, considering credit cards and car loans are the prime causes of bankruptcy in this country.
Is just not worth it to go bankrupt for driving a Proton.
Prestige vs 100% loan. Mana satu ni?
1. FAILURE of Proton
2. FAILURE of automotive industry
3. FAILURE of Govt policies
1.Failure of commenter
2.Failure of comment
3.Failure of brain
Failure to support Proton will result in the above 3
lt is important to know the difference between Reducing Balance Method of interest calculation vs Flat Interest Rate.
HP car loans are a scam so buyers beware.
Don’t get sucked into these ridiculous calculation of interesr payments.
That is why salesman recommend long term loans even 10 years for govt servants & military personnel cos they will get a cut for the total amount of loan X years.
Ever wondered why salesman not keen on cash settlement?
Wise up guys ,
Bank Rakyat will call this “creative banking” !!
keep on pressing the majority of rakyat..
It is optional, how can be pressing?
100% loan? Yeah i want one
Last time, Proton on the verge of bankrupt due to poor sales. All old stock cars unsold, parked under the sun and collecting dust.
Now proton gonna make many other ppl bankrupt with giving 100% loan.
Malaysia economy is bad, Politics sucks, foreign investors packing up their bags leaving the country, recession is coming, barang naik everyday, cost cutting eveywhere, job retrenchment are near……and some idiots want to buy a Pondana becoz of prestige???
Go figure la….
100% full loan with long duration of payment plan should be scrapped. Government should impose maximum 5 years loan for the purchase of any motor vehicle. That is why Malaysian is living luxury in debt. Economy that is based on debt. Housing loan for 35 years?