Tan Chong To Introduce A Shariah-Compliant Auto Service Financing Plan In Malaysia
Tan Chong Motor Holdings Berhad will be doing this in partnership with Direct Lending
Today marks a significant milestone as Direct Lending, a distinguished Malaysian digital lending platform, unveils its collaboration with Tan Chong Motor Holdings Berhad (Tan Chong) to introduce an innovative Shariah-compliant, fully digital auto service financing plan across Nissan Service Centres nationwide.
In perfect harmony with Tan Chong’s steadfast dedication to delivering seamless experiences for Nissan car owners at their service centres, customers can now effortlessly assess their financial eligibility and authenticate documents online, securing immediate financing in contrast to traditional avenues.
Moreover, this groundbreaking initiative is designed to instil tranquillity in car owners, empowering them with greater flexibility in managing service and repair costs, offering repayment periods extending up to 12 months.
The process is streamlined into three simple steps,where applicants provide necessary details, submit identification alongside the latest three months’ bank statements, and conclude the process by initiating the first payment, establishing monthly payments, and digitally signing the financing agreement, all facilitated through a smartphone.
On top of that, Direct Lending’s services will initially be accessible at 10 designated Tan Chong Nissan Service Centers, with ambitious plans for nationwide proliferation. Mr. Hui Yik Seong, Founder of Direct Lending, expressed heartfelt appreciation for the opportunity to offer an instalment plan meticulously aligned with Shariah principles.
This is a move that significantly benefits Tan Chong’s esteemed clientele. This collaborative venture aspires to alleviate the financial strain associated with vehicle maintenance, thereby enriching the overall vehicle ownership journey and fostering safer driving practices.
Mr. Daniel Ho Wai Ming, Group Chief Executive Officer of Tan Chong, reaffirmed the Tan Chong’s unwavering commitment to prioritising customer safety above all else. Through the strategic alliance with Direct Lending, customers are endowed with the invaluable gift of financial flexibility, enabling them to uphold their vehicles optimally and thereby contributing to an environment of enhanced road safety.
Endorsed by Amanie Advisors, a preeminent global Islamic Finance Advisory firm, Direct Lending’s car service instalment plan guarantees Shariah compliance and inclusivity for all segments of society. With a commendable track record of conducting over 130,000 financing eligibility evaluations by 2023, Direct Lending stands resolute in its mission to serve Malaysian customers with unparalleled effectiveness and integrity.
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