PROTON has officially launched Proton Capital Sdn Bhd, its dedicated automotive financing company aimed at giving eligible customers another option when financing a new Proton vehicle.
Rather than competing directly with existing financial institutions, Proton Capital will work alongside them by focusing specifically on Proton vehicles and collaborating with the brand’s authorised dealer network. The company says this approach is intended to make the financing process more integrated, from application through to vehicle delivery.
The launch also saw 10 dealership groups formally authorised to offer services as the company begins its operations in Malaysia.
Initial Klang Valley Operations
During its initial phase, Proton Capital will serve eligible individual customers buying new Proton vehicles through 12 participating outlets in the Klang Valley.
Applications are open to salaried employees, self-employed individuals and customers with other verifiable sources of income. Each application will be assessed individually based on factors including income, existing financial commitments, credit information and repayment affordability.
For complete applications, Proton Capital aims to provide an initial decision within one working day. Applications requiring additional documents, verification or further credit assessment may take longer.
Financing Options
At launch, Proton Capital will offer conventional hire-purchase financing for new Proton vehicles, including a standard fixed-rate package and a dedicated financing package for the Proton S70 taxi.
The company also plans to expand its range of products, including financing options for e-hailing customers. A Shariah-compliant financing option is targeted for introduction in early November, subject to product availability and applicable terms and conditions.
“Proton Capital adds an important capability to PROTON’s business model. Financing plays a major role in the vehicle-purchase journey,” said Zhang Qiang, Chairman of Proton Capital.
Chief Executive Officer Song Tao said the company will initially focus on standard hire-purchase products before expanding its offerings based on the needs of different customer groups.
There is no application fee for submitting a financing application. However, applicable costs such as stamp duty, statutory charges, insurance or takaful premiums and registration charges will be disclosed before the financing agreement is signed.
Customers can make monthly instalment payments through online banking or DuitNow Transfer using the assigned CIMB Bank account, while direct debit is also available.
PROTON also encourages customers to use the Proton Insurance Program for vehicle protection, subject to successful vehicle registration.
