Car Loan

We assist you with everything, including application and paperwork filing, so you can get the best loan for your ideal car.

A car loan pre-approval occurs when your auto financing loan is approved before you choose a vehicle. You may lock down an acceptable interest rate and loan amount with CARCO’s pre-approved vehicle loan before you start looking for a CARCO Certified car.

Simply send your Identification Card (IC) and monthly income details over WhatsApp to receive a CARCO Pre-approval Certificate. After that, you can browse our website for a CARCO Certified automobile, take a test drive, and simply show us your CARCO Pre-approval Certificate when you’re ready to buy. After that, we’ll start the process of completing your purchase, and you’ll be able to pick it up.

In Malaysia, the car is used as collateral in a car loan deal. If the bank believes the car is worth less than the loan, the loan’s chances of approval may be reduced because the car’s value may not be sufficient to repay the debt. This is critical because if you don’t pay your monthly instalment and fail on your loan, the bank will seize your vehicle.

Yes. You can inquire about the loan balance on your car by contacting the bank or loan provider. You can also check it using your loan provider’s online banking portal. The car loan statement, which includes loan details, is normally available for download

Please review the eligibility requirements for a loan listed above. Your creditworthiness will also be assessed by the financial providers, who will look at your income level and the documentation you have submitted, among other things.

In most cases, the maximum loan amount on an automobile is 90 percent of its value. That implies you’ll have to put down a 10% deposit on the vehicle. A 20% down payment is typically required for used autos, with an 80 percent loan amount. Please contact a CARCO Consultant to discuss the best terms for your situation.

The monthly payment for your car loan is determined by the total loan amount, the interest rate, and the term of the loan.

CARCO works with a variety of loan financiers who offer a range of auto loan interest rates. CARCO can aid you in selecting the right financier for your needs in order to help you receive a decent deal.