Direct Lending, Tan Chong introduce Shariah-compliant auto service financing plan
DIRECT Lending recently nnounced its partnership with Tan Chong Motor Holdings Berhad (Tan Chong), to introduce a Shariah-compliant, fully digital auto service financing plan at their Nissan service centres nationwide.
Through this partnership, Tan Chong customers can now have their financial eligibility checked and documents validated via the online platform with immediate financing secured compared to traditional financing options.
This will further facilitate peace of mind for car owners with increased flexibility in managing their car service and repair expenses with a repayment period of up to 12 months.
Applicants can swiftly secure financing by filling in their details, submitting their identification card along with the last three months’ bank statements, and finalising the process by making the first payment, setting up monthly payments and signing the financing agreement – all conducted digitally via smartphone.
To kick-start this initiative, Direct Lending services will be made available at 10 selected Tan Chong’s Nissan service centres. This facility will eventually be expanded nationwide.
Hui Yik Seong, Founder of Direct Lending said the partnership aims to alleviate the financial burden of vehicle maintenance — worn or damaged components can be detrimental to the car’s performance, putting drivers, passengers and other road users at risk.
“We hope that by presenting a more inclusive and user-friendly option for Malaysians, we will enhance their overall vehicle ownership journey and ensure a safer driving experience for all,” he said.
“The safety of our customers is our highest priority. By partnering with Direct Lending, we can ensure that our customers have the financial flexibility to maintain their vehicles in optimal condition, hence contributing to a safer drive,” said Daniel Ho Wai Ming, Group Chief Executive Officer of Tan Chong.
Direct Lending’s car service instalment plan is a Shariah-compliant financing facility fully endorsed by Amanie Advisors, a leading global Islamic Finance Advisory firm, ensuring its accessibility to all. As of 2023, the company has conducted over 130,000 financing eligibility evaluations.
