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Understanding CCRIS & CTOS: Can You Still Get a Motorcycle Loan?
A low credit score doesn't have to be a dead end. Learn how credit reporting works in Malaysia and what options are available to you.
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5 Things to Check Before Signing a Hire Purchase Agreement in Malaysia
Understanding the fine print of your HP agreement can save you from unexpected costs. Here are the key things every buyer should verify before signing.
Read MoreFrequently Asked Questions
Everything You Need to Know
It is a contract where you 'hire' the motorcycle from the Owner (First Class Credit Sdn. Bhd.) and ownership transfers to you upon full settlement. You become the legal owner only after the final instalment is paid.
Yes. All our motorcycle financing is governed by the Hire Purchase Act 1967, which protects you as the Hirer.
Generally, you must be a Malaysian citizen aged 18-65 (at the point of application). You'll need a minimum monthly income of RM1,500.
Once we receive your complete documentation (NRIC, latest 3 months' salary slips, and EPF/bank statements), pre-approval typically takes 24 to 48 hours.
Yes, we look at more than just a score. We consider your current employment stability and downpayment capability. While traditional banks might decline, we specialise in finding solutions for varied credit profiles.
All motorcycle financing in Malaysia is governed by the Hire Purchase Act 1967. This protects you by regulating term charges, repossession rules, and your rights as a Hirer.
A fixed flat rate of 10.00% per annum (≈ 0.833% per month). The rate is locked in for the full tenure.
We use a fixed flat rate. Total term charges = Amount Financed × Rate × (Tenure in years). The full amount is then divided into equal instalments over the tenure.
Here is a typical representative example for a hire purchase loan:
Representative Loan Example
*Both instalments are inclusive of the transaction fee.
Minimum 1 year (12 months) and maximum 5 years (60 months).
Under the Hire Purchase Act 1967, you can finance up to 90% of the motorcycle's value.
Per the PDS: Stamp Duty RM20 (without guarantor) or RM60 (with guarantor), e-Hakmilik Charges RM3, and Postage RM10. All fees are disclosed up front — no hidden charges.
Yes. Comprehensive Insurance/Takaful coverage is mandatory under the Hire Purchase Act 1967 for the full tenure of the HP facility.
1. Auto-debit or post-dated cheque 2. Cash Deposit Machine available at all banks (24-hour service) 3. MEPS interbank GIRO at any participating banks 4. Internet banking
Yes. You receive a statutory rebate per the Hire Purchase Act 1967, calculated as: Rebate = [RP × (RP + 1)] / [OP × (OP + 1)] × Total Term Charges, where RP = Remaining Period (months) and OP = Original Period (months).
First Class Credit finances a wide range of motorcycles, both new and used.
A late payment penalty of 8% per annum on the amount in arrears, calculated daily, will be charged. Contact our Collection Team early if you face hardship so we can discuss a workable plan before further action.
By law, repossession can only occur after you have defaulted on two (2) successive instalments and have been served a Fourth Schedule notice (21-day notice).