CIMB Introduces First-Of-Its-Kind First Car Solution For New Car Owners

KUALA LUMPUR, June 19 (Bernama) -- CIMB Bank Berhad (“CIMB” or “the Bank”) has announced its “First Car Solution” (“the Programme”), aimed at providing first-time car owners automotive financing with competitive financing rates, complemented by essential financial protection facilities, including insurance and Takaful protection, as well as CIMB credit cards. The comprehensive ecosystem is designed to assist customers aged 18 to 30 years old in effectively managing their finances through tailored financing and protection options. With this initiative, CIMB reinforces its position as the preferred banking partner for lifestyle and mobility needs, delivering affordable and flexible solutions for aspiring car owners. 

First-time car buyers will enjoy complimentary road tax renewal for two years amounting to RM240, making CIMB the first bank in Malaysia to offer this value-added facility. Competitive financing rates make the car‑buying process more convenient and accessible. The inclusion of insurance and Takaful protection through Bancassurance Financing offers a safety net against unforeseen circumstances such as accidents or life events that may impact financial commitments, offered at a minimal cost to deliver greater peace of mind. A key benefit includes full payout of purchase price for a car in case of total loss, available with Purchase Price GAP (“PPG”) insurance. PPG covers the difference between motor insurance payout and the original purchase price of the vehicle. The First Car Solution reflects the Bank’s brand promise of “Moving You Forward”, enabling customers with access and opportunities so that they can progress to achieve their long-term goals.