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.