Graduate Scheme – 100% loan for new cars
Below is a compilation of common questions regarding Graduate Scheme loan:
Q1: Is it possible to pay 0% down payment?
A1: Yes, it is possible under graduate scheme loan
Q2: Does it apply to Perodua and Proton only?
A2: No, it applies to all brands.
Q3: What is the term and conditions?
A3: The applicant graduated with a degree/diploma, age less than 30 years old and this is the first car under his/her name.
Q4: What is the interest rate charged under this scheme?
A4: The rate is fixed at 2.98% (local cars) and 2.88% (non-local cars).
Q5: Do I need to pay anything prior to receiving the car?
A5: Yes, you need to pay one month advance payment. Instead of paying your first monthly installment one month upon receiving the car, you have to pay it at the time of signing the loan agreement. Therefore, your second payment should start after 2 months.
Q6: Is there any other additional fees involved?
A6: Yes, there is another one-time insurance payment that you are required to pay. This should depend on the value of the car as it would insure in the event of death and disability.
Q7: What is the benefit of having this scheme?
A7: You are not required to pay any down payment. You don’t need a guarantor in the event that your net salary does not meet the minimum requirement (minimum net salary > RM 1,500).
Q8: Is this an islamic loan?
A8: Yes, it is.
Q9: Is it applicable for a used car?
A9: No, it only applies to a brand new car
Below is an illustrative table of the amount of loan you are able to apply under this scheme. Terms and Condition apply:
| Net Salary | Loan Amount | Monthly Payment (9 years) |
|---|---|---|
| RM 1,500 – RM 1,750 | Up to RM 50,000 | < RM 585 |
| RM 1,750 – RM 2,000 | Up to RM 65,000 | < RM 760 |
| RM 2,000 – RM 2,500 | Up to RM 80,000 | < RM 940 |
| RM 2,500 – RM 3,000 | Up to RM 100,000 | < RM 1,170 |
may i know this grad scheme that say “it is applicable for all brands” is from which bank? I went to Maybank this morning and they said that their grad scheme is only applicable for proton, produa, toyota and honda.
This is from our Bank Islam panels. Please let us know if you would like to use our services. Thanks!
what i see is you do services for proton, produa, Ford Fiesta, Honda City Facelift, Kia Optima K5, Naza Forte, and Toyota Vios, am I right? if I would like to use your services, can I request other car than what you have listed? I am looking for options. sorry for asking so many questions.
Yes, which model are you referring to? Please email us your contact number if you would like to use our services. Thanks!
im still a student n i’ve 2 sem to go before i graduate.is that possible for me to make car loan under this scheme? and is there any car that require only bout <400 monthly payment?
You need to have a job and work for at least a day. If you would like to purchase a car, you need to have your parent to be your guarantor.
tqvm.btw,my friend interested in purchasing a double cab (either triton/commonrail/ford ranger) under this grad scheme. his basic salary is RM1600 per month. how much will it be for the monthly payment?
His basic salary doesn’t meet the minimum requirement. Having a guarantor also might not be helpful in his case.
I wish to buy mitsubishi mirage.My salary is 2.5k..
Hi arthur, you should be fine. Are you planning to pay 0% down payment? Could you please call admin at 019-6577890? Thanks ya!
what document i need to ready?because i start working on dec.i only have offer letter.i might pay 10% downpayment.i need to know about the interest
Since you haven’t started working yet, you need to have a guarantor. Is that possible? You can provide your job offer letter, copy of IC, and license. Your guarantor should provide a copy of IC, bank statements 3 months, pay slips 3 months.
Hmm.i thought no need to get guarantor?since im fresh graduate
The scheme only applies for those who have started working (at least one day). If you have a guarantor, you can get the loan approval so much easier.
Yup..i already work for few days.how do i apply this?
Our dealer will contact you shortly.
I’m planning to buy chevrolete cruze/ mitsubishi lancer/toyota altis, does graduate scheme applicable for me? I already have a proton persona under my name. My salary is about 4.2k
We only sell mitsubishi lancer and toyota altis. The graduate scheme will no longer apply if you have made a loan before. However, we can try to get the maximum loan possible, please contact us at 019-3559448 for more info.
I am really interested in this, who do i contact and which institutions are offering these services? Thanks
Hi, I’m a chambering student (basically a lawyer trainee), I was thinking to get myself a new car after i completed my pupilage. My target is a car with either around 120k imported car or about 50-60k second hand imported car. I wonder, can I apply to this scheme?
By the time i call to the bar (a qualified lawyer) my salary will be around 4k. what source of documents that you need? btw, i’m finishing my chambering in june, so most probably i apply for it in july or august.
many thanks.
Hi there,
Are you planning to purchase a car with 100% loan? We would recommend you to take either honda city, toyota vios, naza forte, ford fiesta or Mazda 2. You need to be working for at least a day to be eligible for the loan application.
Hi Mybestcardealer,
Ya. I’m thinking of buying a car with 100% loan.
Besides the cars that u recommended, can I choose other car? let say, i buy ford focus instead of fiesta?
I will be able to produce my salary slip and employment letter if you wish… is that enough?
many thanks.
What do you mean by produce? Is it a dummy or an original piece?
Produce means give. Its the word that we used to use in court or legal field. Either original or photocopy. Dummy tu false documents la… Illegal la bro… Haha…
You work at the legal firm, you should know better. hehe. Alright, once you have all the documents, you can email them to us. It should consist of your job offer letter, ic, license, pay slips 3 months and bank statements 3 months.
Hi bro,
Can I choose other car besides those that u recommended? I’m interested in ford escape 2013 version or focus. Can I take loan for that?
Thanks.
Hi there, we’ll see if your net salary is sufficient. If your net salary is around RM 3,500, You may be able to apply loan up to RM 100,000 -RM 110,000
Hi. I wish to buy the Ford Focus Titanium. My salary is 3.5k. Can you list down what might the monthly installment be if I were to take 100% loan or if I were to pay 10% downpayment.
Many Thanks.
Salam Rahim, we have emailed you the quotations for both conditions. Kindly let us know if you are interested. Thanks!
Hi. I am a seaman who works around 9 months per year with a monthly salary of 2700 usd per working month. Am I eligible for this loan? Is it only parents who are able to be guarantors?
Hi Lawrence, anyone can be your guarantor. Do you have a pay slip? Which car model are you planning to purchase?
Hey guys. I’m planning to get a ford fiesta. Fresh grad with a salary of 3k. Could you please list down what will the monthly installment be if I were to take the 100% loan or if I were to pay 10% downpayment.
Which model are you referring to? Sedan or hatchback? Are you planning to get the 2013 or 2012 stock?
Hi. What about secondhand cars? Does this scheme apply to secondhand cars as well?
No it doesn’t apply to used cars.
Hi.. i seriously intrested of buying VIOS 1.5 under the graduate scheme. my salary is 2.5k. roughly how much do i need to pay monthly?
hi there, we have sent you the quotation. Please check your email.
i don’t have a license. can i buy a car?
Yes you can, but need to provide your parent/sibling’s license.
Im still under 6months probation. This is my 4th month working in the company. My salary is 3k. Am I eligible for any loan if I like to buy a used car? Im interested to but the 2008/2009 peugeot 207cc.
Hi there, yes you can. But the interest rate is much higher compared to buying a new car.
Greetings! I’m planning to get a ford fiesta 1.4 (manual) or a swift sport (manual). Fresh grad with a salary of 4k, net about 3.5k. Could you list what will the monthly installment be if I were to take the 100% loan or if I were to pay 10% downpayment, please? Tq
Hi Daniel, please check you email. We have sent you the details. Thanks
Thanks for the 10% downpayment quotation of the fiesta! But what about the graduate scheme?
We would recommend you to pay 10% and use the rebate as part of your down payment. The interest rate for grad scheme is higher as compared to normal loan. Please call us for more details on this.
I see. OK Thanks for the great advice! đŸ™‚
Morning mybestcardealer,
I don’t have basic income since my income is based on commission ,thus it is quite difficult to me to provide 3 months salary slip,so my question is,is it necessary/compulsary to provide the salary slip?
Thank you
What’s your average income? Which model are you planning to purchase? Do you have a guarantor?
average income around 5-6k,i prefer toyota/subaru..can my sister be the guarantor?
thanks
Are you planning to do 0% down payment? It is only applicable for a brand new car only. Yes, your sister can be your guarantor. Are you OK with Vios?
What I know so far,if paying downpayment,the interest is lower right?if toyota,I prefer trd or gt86,but I don’t know if I can afford that car,another car make I have in mind is audi,but also not sure if I am qualified to apply a loan for it..
Thank u
Based on your commission based salary, is quite hard for you to get a loan higher than 100k. TRD sounds much more reasonable. Please let us know if you are interested.
okay…may i know your show room?
thank you
Sri Petaling & Shah Alam, please call us to arrange an appointment.
please email me more info on this. btw, just wondering about this “The applicant graduated with a degree/diploma, age less than 30 years old and this is the first car under his/her name.” but I do have a used car under my name is it still applicable ?
Is it financed under your name? If yes, then you are no longer eligible.
Hi, I’m keen in getting either:
i. Ford Fiesta 1.4L (M)
ii. Ford Fiesta 1.6L
with Graduate scheme, my net income is about 3k. Appreciate if you could send me a quotation with the best promotion for each model? Thanks in advance.
Hi tan, please check your email for more info. thanks!
Hi Tan, quotation sent. Please check your email for more details. Thanks!
sy nak tanya gaji minimum untuk beli honda hybrid n honda civic 1.8s/2.0s
sy br je kerja..
Gaji minimum kalau boleh lebih daripada RM 4,000
Hi,i’m planning to get Honda City(S). I graduate with diploma cert and currently i been working three months above but my salary is base on commission. Salary roughly RM3000. Would i eligible for graduate scheme? Kindly drop me some information because i do need a transport for work . TQ.
Hi Eddy, please check your email. Your salary is not fixed and you may need to provide a guarantor. Please call us for more info.
i checked my mailbox but there no email from urside. can u pm again ? What is ur contact ya ?
Kindly check your email again
hi, I’m planning to buy a mitsubishi mirage. I have a degree, have been working for few weeks now. My basic salary is rm2,500.
can you send me the quotation if i want to use this scheme. and how long will the process be until i get the car? it is urgent for me to have a car since i have to travel a lot.
Hi there, the stock for 2013 will only come in March. 2012 is very limited and we’d recommend you to get a Perodua Myvi instead. It has greater resell value and lower maintenance cost
Okay thanks.
What documents that I need to prepare if I want to use the graduate scheme? and I am without a guarantor.
Oh, by the way, I just started working so I don’t have 3 months pay slip yet. And I don’t have a guarantor. Am I applicable to this scheme?
Just provide your IC, license, job offer letter and degree/diploma slip. You can email us the documents at admin@mybestcardealer.com
kalu gabung gaji hsbd& wife blh ke untuk bli honda civic 1.8? gaji 3k mmg xpass ek?
Hi Moshi, gaji lepas gabung 3k ke? Kalau gaji you 3k, yes, you perlukan penjamin or buat joint income loan.
hi, I’m planning to buy a mitsubishi mirage. i had work for 2 months ago. may i know that, how much installment every month if i use this scheme? and my basic salary is 2.2k btw im fresh grad.
Hi Kidanzo, we have emailed you the details. Please call admin at 019-6577890 for more info.
Hi, i need quotation on hyundai elantra 1.6AT btw my net salary is 3.2k. Thanks.
And polo sedan as well
Hi Sean, we don’t sell any VW sir. Are you interested in getting the hyundai?
Yes I am. But before that I need to offload my proton savvy. How much can I get for a proton savvy (m) 2005, white colour?
Hi Sean, the trade in value is less than 10k, we have checked that. If you still have any outstanding loan for this model, it would be best for you to find a direct buyer.
Can you provide me with exact value? Because I want to change my car by next week, no time to find direct buyer. Thanks
We can check it for you. Please contact us tomorrow sometime at noon if possible.
How to contact?
019-3559448 is our number. Please contact us after 10 am-5pm.
Hi..
Saya nk trade in myvi premium 1.3 auto (white) plat sabah.. Nk tukar dgn preve premium auto 1.5.. Hutang myvi ada dlm 30k lg.. Sy gov servant dgn basic gaji 2.5k… Bole ke..?
Hi there, apakah model kereta myvi tersebut? Sila hubungi kami jika you berminat utk trade in
Hey guys. I’m a fresh grad and have already started work with a salary of RM3k/month. I’m looking at buying a new car with the graduate scheme as i find it very convinient for me. I’m only looking to spend a maximum of RM500 a month on my loan. I wouldn’t mind paying a downpayment if it helps decrease the monthly installment of the car. Could you please send me a list of cars that fall in my budget? Please also leave a number that i can call if i’m interested. Thanks for the help,guys!
Hi Raghu, sorry for the delay. You can either get Perodua Myvi, Viva or Proton Saga. Please get your quotation at http://mybestcardealer.com/quotation
hi, I’m planning to buy a mitsubishi mirage. may i know that, how much installment every month if i use this scheme? and my basic salary is 2.2k. thanks.
Hi Saiful, we have emailed you the details. Please let us know if you are interested. Call admin at 019-6577890 for any questions you may have.
please email me about graduate scheme
Which car model are you planning to get?
hi..
I wish to buy a unregistered recond Honda Stream RSZ (2008) worth around RM100000-RM110000 and trade my Proton Persona Elegance AT (2010). My basic salary is RM3200. My questions are:
1. What is the interest loan rate for the Stream?
2. What is the trade value of the Persona?
3. Is it possible for me to get full loan for the Stream?
Your reply is highly appreciated.
Hi there, you might need a guarantor if you would like to apply for the specified loan amount. What’s your outstanding loan balance for the Persona?
Based on your calculator:
Loan Settlement Calculator
Loan Amount : RM 49500
Interest Rate : 4.0%
Total Installment Period : 108 months
Installment Period paid to date : 30 months
Monthly installment you pay : RM 630
Total rebate if you settle your loan : RM 9091.70
Total amount that need to be paid as settlement : RM 39328.30
Kena check dengan bank juga. Kalau maybank, dia ada autofinance center number yang you boleh call.
hi..i wish to buy proton preve premium by using graduate scheme..i just work for two month with basic 2k. can u give the price quotation monthly for 0% down payment and also with 10%. is it possible for me to get the 100% or 90% bank loan?
Ahmad, we have emailed you the price quotation. You should be entitled for 100% loan. Please submit your documents whenever you are ready.
saya adalah graduan yg baru berkonvo dan akan bekerja tidak lama lagi. bolehkah saya memohon skim graduan ini sekiranya salah satu kereta ibu bapa saya adalah di atas nama saya sendiri? kereta tersebut sudah habis dibayar.
Adakah saya perlu jual kereta tersebut dahulu, utk memohon skim graduan ini?
mohon penjelasan. TQ.
Hi nur, kalau you ingin dapatkan loan before you start bekerja, you perlu ada penjamin. Boleh?
i have a car under my name but i took it cash..now im graduate.. can i grab this opportunity to buy peugeot 207..kindly reply thana_007@hotmail.com
Sure you can. Provide us all necessary documents and we can proceed with the loan application. See your email.
Hye, i’m a fresh grad n i’ll be working in middle of May with a basic salary of RM2700. Planning to buy Mitsubishi Mirage with the graduate scheme, monthly payment around RM500-RM550. Is it possible? What is the pros and cons of between buying a Mitsubishi Mirage and Myvi anyways? How long does it take to get the car. Please email me the details. Tq
Hi Sufee, we have emailed you our response. Please check your email. Thanks! We have ready stock for this model and just call us asap.
If I already have a used car which is registered under my name but I didn’t apply any car loan for this used car, am I still eligible for this graduate scheme? ?? ? Thanks
Hi David, you are still eligible to apply for this scheme. Kindly let us know if you are interested. Please check your email for more info.
Hi, im 25, just moved to new job, and june is my third month. graduated in 2011 with degree, basic salary 3000. am i eligible? Can you suggest any hatchback car? (proton or perodua not preferred),im currently driving kelisa year 2008 (if not mistaken) have been paying loan for about 4 years already (not exact). Appreciate if you can give a bit info on forte / peugeot 308, price and monthly installment with 100% loan to my email. thanks
oh forgot to mention, wondering if you can settle trade in for the kelisa.
Hi Nurul, we have sent you the details but we haven’t received any replies from you. Please call us if you would like to proceed.
hi..would like to know..ive grad year 2007 n hav been working till today..n i do hav a car under my name but i dint take loan coz my dad transfer the ownership to me…do i still able to apply this grad scheme?
Still eligible and please check your email for more info.
I am planning to buy a new car. I am already 21 and working. My monthly salary is about RM1600.00. Am I qualified to apply this scheme? What is the document I need to have if I want apply? pay slip or guarantor?
Hi there, you need a guarantor if you would like to proceed. Check your email for the quotation.
hi..can i use graduate scheme for new polo sedan?the price is rm87k++..
You mean second hand? It does not apply to 2nd hand model.
I just graduated and just employed now about 2 weeks with basic salary of 1800… I still waiting for transcripts but employed after industrial training. .. I really interested to have a mitsubishi mirage…do I eligible? I once tried to apply but the salesman says I need to pay 500 for booking fee..is it necessary? Please advice. …
We have emailed you the details. Please let us know if you are interested but based on your basic salary, you may not be eligible for the loan amount. Would you be interested in getting Perodua Myvi?
If that not possible… how about proton preve premium spec? Grad scheme…I already work for almost 3 month
Preve Premium spec is priced higher. do you have a guarantor by any chance?
Hi, my basic salary is just RM2K per month, but after add up some allowance it will be like RM4K++. I’m interested in Honda Civic 1.8s. Can you emailed me all the necessary things and quotation. Thanks in advance.
Salam, we have emailed you the latest Honda Civic quotation together with the promotion.
hi.. is this scheme still available? my net salary is 4.6k… im looking to have toyota vios rtd sportivo… can you please email me the details and feedback.. thank you in advance sir
Hi Ahmad, the scheme is still available and we have sent you the details as requested.
Hi.. I would like to apply for proton preve premium spec… with grad scheme… I already work for three month and need car urgently
Skim graduan blh beli ford ranger x?
Boleh cuba jika you berminat.
constantly i used to read smaller articles that also clear their motive, and that is also happening with
this post which I am reading here.
Hi..do u have 100% loan for all new honda city?ang which bank that available. Can u email me.
Hi Ana, let us know if you need further assistance ya?
Hello Mybestcardealer.com I’m a fresh graduate, just appointed in gov sector with basic 2.7k but with allowances and all, it’ll settle at around 4.3k++ monthly. Interested in taking Honda Civic Hybrid, or Toyota Altis 2014. Am I eligible for the cars stated? Please do PM me the details. Thanks
Hi there, you need to provide a guarantor should you be interested to proceed.
hi, just want to ask is someone over 30 still eligible for this scheme if they fit all other requirements (basic salary 1.9k, no previous car loan records)? Thanks!
Hi, we can help you with this but not under graduate scheme.
Specifically, what defines graduate in graduate scheme? Is it applicable to person who graduated last 2 or 3 years as well although he aged below 30?
As long as you are aged 30 and below, you are ok
Hi, i just wanna know what kind of car that suitable with me.. my age is 27 and my current salary is RM1, 500 per month and I have been worked at Kuala Lumpur almost one year and half.. I am prefer with suprima s and satria neo r3 gti.. but somehow, i just wanna know, is my current salary fit with the car’s price if i wanna have one of the cars that i have state.. and with that salary, do i need to make the full loan? and can i still apply the graduate scheme to buy my first car?
Do you have a guarantor by any chance? Otherwise, the maximum loan you can apply is around 25k only.
Hi, im currently working at a law firm as Chambering student with basic 2.7k. Interested in getting Preve Premium or Honda City. am i elligible for the graduate scheme since my position here is being paid as allowance and not salary (no official payslip). and can you please give me the quotation thanks
Hi, you need to provide a guarantor based on your current condition. Is that possible?
is it a must to have a guarantor? if possible can it be done if i just ask my office to produce the employment letter?
Hi, did you have any agents at penang? I still haven’t start working, but i have a guarantor and already consider finish degree study just haven’t pass convocation. so is it possible to apply full loan?
How to apply and contct?
Hi. Please provide us with the your details (i.e.: current salary, downpayment, guarantor, etc.). Call us at 019-6577890 if you need further clarification or assistance.
Hi, i’m looking for suzuki swift (prefer GL/GLX models) under graduate scheme with dp 6-10k. My salary is 2300. I wish if i could get the best deal in this hari raya promotion with low monthly payment. Can you emailed me all the necessary things and quotation. Thanks in advance.
Please call us at 019-3559448 for Hari Raya Promotion on Suzuki Swift model. Quotation and documents necessary sent. Tq!
Hi, i’m looking for suzuki swift (prefer GL/GLX models) under graduate scheme with dp 6-10k. My salary is 2300. I wish if i could get the best deal in this hari raya promotion with low monthly payment. Can you emailed me all the necessary things and quotation. Thanks in advance.
emel umie.syuhada129@yahoo.com
please call me ASAP to hear more details to my number 018-6627685
We’ll call you the soonest.
HI, which bank provide graduate scheme and accept license L ?
Which car model are you planning to get?
Hi, I’m looking to buy a honda city 1.5 e under the graduate scheme. I have been working for 1 year. The problem is that I would change job and I plan to take 1 month break in March before continuing to work in April at a place far away from where I currently work. Can I still make use of the scheme this way?
Can I apply this loan with L license .. ??
Yes you can.
hi, I would like to buy KIA Picanto under graduation scheme with 0 Down payment. my basic salary is RM1500 + fixed transport allowance RM450 + 300 fixed allowance. So could u advice me on this. Can i afford this car without a garantor and 100% loan approve?
Hi Suresh, do you have a guarantor by any chance?
Hi, I’m planning like to buy a Volkswagen polo/vento under graduation scheme with 0 Down payment. my basic salary is RM2800. Am I eligible for a 100% loan approval?