Direct Lending Partners Tan Chong Motor Holdings To Introduce Shariah-Compliant Auto Service Financing Plan In Malaysia

Direct Lending, a leading Malaysian digital lending platform has partnered Tan Chong Motor Holdings Berhad (Tan Chong), to introduce a Shariah-compliant, fully digital auto service financing plan at their Nissan Service Centres nationwide.

In line with its commitment to providing Nissan car owners a seamless experience at their service centres, Tan Chong customers can now have their financial eligibility checked and documents validated via the online platform with immediate financing secured compared to traditional financing options. This will further facilitate peace of mind for car owners with increased flexibility in managing their car service and repair expenses with a repayment period of up to 12 months.

With just three easy steps, applicants can swiftly secure financing by filling in their details,  submitting their identification card along with the last three months’ bank statements, and finalising the process by making the first payment, setting up monthly payments and signing the financing agreement – all conducted digitally via smartphone.

To kick-start this initiative, Direct Lending services will be made available at 10 selected Tan  Chong’s Nissan Service Centres. This facility will eventually be expanded nationwide to all Tan  Chong’s Nissan Service Centres.

Mr Hui Yik Seong, Founder of Direct Lending said, “We are honoured to offer an instalment plan that adheres to Shariah principles, benefiting everyone including valued customers of Tan  Chong Motor Holdings Berhad. This partnership aims to alleviate the financial burden of vehicle maintenance — worn or damaged components can be detrimental to the car’s performance, putting drivers, passengers and other road users at risk. We hope that by  presenting a more inclusive and user-friendly option for Malaysians, we will enhance their  overall vehicle ownership journey and ensure a safer driving experience for all.”

“The safety of our customers is our highest priority. By partnering with Direct Lending, we can ensure that our customers have the financial flexibility to maintain their vehicles in optimal condition, hence contributing to a safer drive,” said Mr Daniel Ho Wai Ming, Group Chief  Executive Officer of Tan Chong.

Direct Lending’s car service instalment plan is a Shariah-compliant financing facility fully endorsed by Amanie Advisors, a leading global Islamic Finance Advisory firm, ensuring its accessibility to all. As of 2023, the company has conducted over 130,000 financing eligibility evaluations.

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