Funding Societies is partnering PROTON to provide credit facilities for PROTON dealers to finance the purchase of cars for floor stocking.
Chai Kien Poon, Country Head, Funding Societies Malaysia, “Demand for personal vehicles saw an increase since the second half of 2020. With Funding Societies’ revolving credit facility, PROTON’s dealers can tap into that growth by increasing their inventory for sale across by increasing their floor stocking inventory of used cars.”
“In line with Funding Societies’ mission to provide financing facilities to underserved, creditworthy SMEs, this revolving credit facility provides PROTON’s dealers with a more seamless experience. They may utilise the facility anytime and anywhere upon its activation. Additionally, dealers will have access to our online supply chain financing system to manage their financing facility with us,” added Chai.
“Through the dealer financing service provided by Funding Societies, our dealers can finance the purchase of floor stocks to enable the trade-in transaction,” said Wan Ahmad Fadzli Wan Mustafa, General Manager, Proton Edar.
“Dealers who wish to apply for financing may do so via Funding Societies’ online platform. They will be able to provide financing for up to 85% of the transaction value with repayment periods of up to 90 days. With this financial facility, our dealers can grow their business by raising short-term capital to manage their cash flow and even use it for new car purchases from Proton Edar as well,” concluded Wan Ahmad Fadzli.
Vehicles sold under the PCPO programme undergo a thorough 201-point inspection and are assured to be free of any flood or major accident damage. Customers also enjoy 1-year extended warranty which covers the engine and transmission as well as a one-time free basic service after 6 months from date of registration.
With the increasing shift to online platforms, UCM has also set up a dedicated PROTON used car website (http://used-cars.proton/com) to attract tech-savvy buyers. Consumers can view stocks without walking into showrooms and browse through the website to get an estimated used car’s market price.