How does it work?
Al-Ijarah Thumma Al-Bai' (AITAB) is a Syariah-compliant car financing based on the principles to lease (Ijarah) followed by sale (Al-Bai'). Customer during the leasing contract should pay at an agreed rental payment over a specific period. Upon expiry of the leasing period, the customer has the option to purchase the asset from the TCAPM at an agreed price. Non-Muslim customers are also welcome to enjoy this Islamic Automotive Financing Plan for Pre-Owned Vehicles.
Benefits
- A Shariah-Compliant Auto-Financing Product
- Fast processing and approval
- Easy monthly contribution of your instalment via various modes of payment
Financing Terms
| Eligibility |
|
| Margin of finance | Maximum 90% financing, minimum loan amount applicable. |
| Tenure | 9 years |
Fee and charges
| Standard Fees | RM | Optional Fees (if applicable only) | RM |
|---|---|---|---|
| Stamp duty - without guarantor | 10 | Photography cost (used & new reconditioned) | 10 |
| Stamp duty - with guarantor | 30 | Settlement with other financier | 30 |
| Ownership, registration and handling charges | 50 | Inter-branch inspection | 50 |
| Photocopy charges | 10 | Transport charges for inspection | 10 |
| Handling charges for Used Vehicle Inspection | 100 | ||
| Handling Charges and stamping fee for Assignment application | 230 | ||
| After Sales Support Service Fees (if applicable only) | RM | Chargeback Expenses for Recovery (if applicable only) | RM |
| Document retrieval: within branch | 10 | Travelling charges to inspect/trace vehicle (distance based):-
|
10 20 30 40 50 |
| Document retrieval: offsite storage | 30 | Redelivery & disposal of repossessed vehicle | 120 |
| Photocopy of registration card | 10 | ||
| Photocopy of HP agreement | 10 | ||
| Road Tax renewal | 10 | ||
| Any Documents request to deliver via Normal Postage, Courier or Email | 10 | ||
| Consent Letter of JPJ for change of engine | 50 | ||
| Letter to JPJ & Custom for transfer vehicle from East to West Malaysia (vice versa) | 50 | ||
| Letter to JPJ for Duplicate Vehicle Registration Card | 50 | ||
| Letter to JPJ for Interchange of Registration Number | 50 | ||
| Ownership claim upon full settlement of account | 100 | ||
| Reminder and Statutory Notice send by Register Mail :-
|
3/pax 5pax 5/pax 5/pax 5/pax |
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Pre-Owned AITAB FAQs
-
What is Al-Ijarah Thumma Al Bai' (AITAB)?
AITAB is an Islamic Automotive Financing plan which is in compliance with Syariah principles.
- Al-Ijarah means a lease contract that binds the lessor(Toyota Capital Malaysia) and lessee (customer).
- Al Bai means a sale contract wherein the ownership is transferred to the lessee at the end of the leasing period for a specified consideration.
AITAB - in a nutshell - is the Islamic version of "conventional" Hire Purchase whereby the parties enterinto a lease contract for a specified tenure and subsequently enterinto a sale contract at the expiry of the lease tenure. -
What is the prevailing rate now?
We offer attractive and competitive rates to our customers. To find out more, kindly Contact Us. -
What is the margin of finance and term of tenure offered?
We offer a maximum of 90% financing for up to 9 years' tenure. -
Can non-Muslims enjoy this Islamic Automotive Financing Plan?
Yes. Non-Muslims are welcome to experience this Islamic Automotive Financing Plan. -
Are government employees eligible for this plan?
Yes! In fact, we have a special campaign for Government Employees called Jom Drive. Click here.
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OUR DEALERS
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|
Download Product Disclosure Sheet |
| Product Disclosure Sheet AITAB | Download |
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