UMW Toyota Motor (UMWT) has announced a special financing package for graduates in collaboration with Maybank Islamic. The scheme is for those looking to purchase a new Toyota Vios, Yaris or Avanza.
The Murabahah Vehicle Term Financing-i (MVTF-i) is an additional financing option for graduates besides the Islamic Hire-Purchase (HP) financing in accordance with Al Ijarah Thumma Al-Bai (AITAB). This financing package is only available in Peninsular Malaysia.
Murabahah financing follows Islamic financing principles and the combined amount financed can be up to 100% with the bundling of takaful contribution and other costs (legal costs, stamp duty, etc).
The financing is available to degree-holders aged between 21 and 30. One must be currently employed and earning at least RM3,000 a month. The graduate has to be employed for a minimum of six months to be eligible, but for those with less than half a year under their belt, parents can act as guarantors, subject to terms and conditions.
Those with a salary of between RM2,000 to RM3,000 can also apply, provided their parents act as guarantors and have household income of above RM5,000.
The Toyota Vios and Yaris are B-segment sister cars powered by a 1.5 litre engine and CVT gearbox. The former is a sedan that needs no introduction, while the Yaris – launched in April 2019 – is a trendier-looking five-door hatchback. The Avanza also has a 1.5L engine, but the budget MPV packs in three rows of seven seats. The latest facelift has a Vellfire-style face. All come with five years of unlimited mileage factory warranty. Compare the three Toyotas with their rivals on CarBase.my.
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Kudos to Toyota. Now everyone can drive …
…drive to financial ruin, no thanks to Toyota.
Ok la.
Parents can buy car under kids’ name.
old car let the kids drive.
The kids can use the brand new Toyota for Grabcar job as side hustle to earn extra rezeki.
UMW as usual,with slowing sales and high pricing will come out with some marketing gimmicks.
The question is,” DO U REALLY NEED TO BUY A NEW CAR”?
IF you have parental guarantee and plan B in case of employment loss,then go and buy.
If not…just forget the special financing arrangements to entice you.Buying a car is never an investment.It starts depreciating the moment the salesman give u the car keys.
Fresh grad just can’t Toyota.. UMW and banks are just setting up financial trap to those fresh grad..
Saddling grads with 100% loan before start to work, bravo Toyota & Perodua.
UMW toyota trying to lure gaji ciput fresh grad to buy toyota. UMW toyota and maybank is not corporate socially responsible and it is not ethical to offer cars above their salary grade. these fresh grads will be tied for up to 9 years with a car and has no money to buy a house or some may even start to default their PTPTN.
Local fresh grads hav Mama&Papa Bank acct
I like yaris, but the lime color..seriously??who want that..And why vios dun have dark grey color option?
Many might not know that the 9 years loan tenure was introduced in the aftermath of the 1997 financial crisis. It was to “help” the automotive industry. This step in return has dragged so many people into debt buying something they cannot afford at the first place. And now this move by UMW, things just begin to get bad, the worst is yet to come.
Now abang abang and kakak kakak graduates can drive to work conveniently and handsomely. Hujan tak basah, panas tak peluh.
Sure handsome, bergaya and great for dating and outing. Colleagues sure jealous.