Dealer Financing

Dealer Financing is a tailored financing solution specially designed for used car dealerships in Malaysia. This method of financing is ideal for dealerships in need of optimising their cash flow by financing their purchases. 

With Funding Societies, you may be approved a facility limit of up to RM500,000 which you may utilise at any time.

The interest of 1% per month is calculated on a daily basis, which means that you will only be charged for the number of days your financing is ongoing with us.

Additionally, you will have access to our online supply chain financing system, Silk Road, to manage your financing facility with us.

With Funding Societies Dealer Financing, every utilisation is subject to a tenure of 90 days from the date of disbursement. 

Just like any other financing product, the following fees/charges will be applicable:

• Facility Fee / Up-Limit Fee: Up to 2% of the approved/increased limit of the financing facility (one-off)

• Utilisation Fee: RM 300 per motor vehicle

• Variation Fee: RM 500 per amendment or variation of the Letter of Offer or Facility Agreement

• Panel Fee: RM 500 per annum, payable every 31st March (calendar year basis)

   

Please take note that the above are the common fees/charges of Dealer Financing which serves as a guide, subject to change from time to time.

For more accurate and updated fees/charges, kindly check with us. 

If you are late in making your repayments, the following fees/charges will be imposed: 

• Late Penalty Fee: RM250 per 7 calendar day

• Late Interest Fee: Up to 0.1% per day (non-compounded) on the amount in arrears

Of course! If you choose to settle the financing early, there are NO early settlement fees or charges imposed!