Edaran Otomobil Nasional Berhad (EON) has teamed up with Bank Muamalat and myTukar to offer a tiered vehicle financing scheme that makes it easier to purchase a brand-new Proton or Mitsubishi.
Called Muamalat Step Up Auto Financing-i, it offers lower instalments for the first 3 years to assist customers in reducing the early financing cash flow burden. Under this program, monthly instalments can be up to 33 percent lower compared to conventional financing, depending on the model.
The scheme is offered for financing periods of 5, 7, and 9 years. Bank Muamalat is the first bank to introduce a vehicle financing package that allows customers to enjoy lower and flexible monthly payments with a guaranteed buy-back value.
“It is different from a conventional vehicle financing plan which requires the customer to pay the same monthly instalments throughout the financing period. The lower instalments offered can help customers reduce their cash flow burden, and provide savings and additional cash for investment and other purposes,” said Khairul Kamarudin, President and Chief Executive Officer of Bank Muamalat.
After three years of ownership, customers can choose to either continue monthly payments at a new instalment rate or exchange and resell the vehicle for a new unit through myTukar, which offers a guaranteed high resale value. Customers have the option to trade in their car, upgrade to a newer one or receive cash-back for their car.
“We are thrilled to be working with EON and myTukar to offer financing solutions to our customers. Our vision has always been to create an end-to-end integrated on-line vehicle ecosystem; our partnership brings us one step closer, as we are able to make auto financing more affordable,” said Khairul.
Chief Executive Officer of EON, Akkbar Danial said that the launch of such an innovative financing scheme will be able to meet the needs of customers who want more value and solutions to meet their financial needs.
“In line with EON’s direction to lead and become an excellent automotive service provider, we believe the collaboration will further improve our market share. Being the largest Mitsubishi and Proton network operators nationwide, EON is able to offer a variety of cars from the two renowned brands to our customers through all EON branches. EON is offering two Mitsubishi vehicles and six Proton models for customers to choose and participate in this scheme,” said Akkbar.
Keyword: EON introduces an affordable way to purchase a brand-new Proton or Mitsubishi