UMW Toyota, in collaboration with Maybank Islamic, has unveiled a new special term financing designed specifically for graduates. The new financing package is applicable on purchases of a new Toyota Vios, Yaris, or Avanza, limited to Peninsular Malaysia.
Dubbed the Murabahah Vehicle Term Financing-i (MVTF-i), the new special term financing package is designed in accordance to the Murabahah principle, and acts as an additional option to the Al Ijarah Thumma Al-Bai (AITAB) Islamic Hire-Purchase.
The combined amount financed with the new MVTF-i package can be up to 100% with takaful contribution of Takaful bundling, and includes other costs such as legal fees and stamp duty.
The offer is available for graduates (degree-holders) aged between 21- and 30-years old, and are currently employed for more than six months (or parents as guarantors). Applicants must have a monthly income of more than RM3,000, although those earning above RM2,000 can still apply provided their parents (as guarantors) have a household income of RM5,000 or more.
UMW Toyota Motor President, Ravindran K. said, “At UMW Toyota Motor, we are always looking for the best ways to work with our business partners for our customers to own a brand new Toyota vehicle.
“With this new financing package, graduates will be able to acquire a Toyota Vios, Yaris or Avanza as the financing package helps to make the down payment more affordable. The support we offer will also make the ownership experience enjoyable for many years to come.”
All three eligible models come as standard with a five-year unlimited mileage Manufacturer’s Warranty. Additionally, customers can also benefit from free 24SEVEN Road Assist breakdown and emergency service assistance if insurance coverage is also purchased from UMW Toyota’s authorised dealers.
