Finance

HIRE PURCHASE
TC CAPITAL RESOURCES SDN BHD

Corporate Profile

TC Capital Resources Sdn Bhd (TCCR) was incorporated in 2004 as a wholly owned subsidiary of Tan Chong Motor Holdings Bhd (TCMH), a company listed on Bursa Malaysia. The principle activities of TCCR are providing comprehensive Hire Purchase financing packages, especially for Nissan vehicles, leasing and personal loan.

Services

TCCR offers Hire Purchase (HP) Financing for passenger vehicles, commercial vehicles, equipment or machinery with competitive financing rates.

Tailor-made auto-financing packages are offered for Nissan vehicles in Malaysia with the following benefits:-

  • Competitive and often the lowest financing rates available for Nissan cars in the market
  • Hassle-free financing application and processing for faster approval

FAQ

Q1 : What is the maximum margin of finance and loan tenure?



TCCR offers a maximum 90% of financing and up to 7 years term and we can consider for 8 & 9 years on case to case basis.

Q2 : Can I modify the monthly repayment amount if I have financial difficulties?

TCCR is ready and can arrange via a HP Reschedule Agreement on account in-arrears for a lower installment and a longer loan tenure upon request via letter. This is subject to management approval, and usually, this apply to customer have made payments for minimum 1-2 years period only and not for new hirer.

Q3 : When can TCCR repossess my motor vehicle?

TCCR has the authority to take possession of the motor vehicle comprised in Hire-Purchase Agreement in the event that there are 2 successive defaults of payment or a default in respect of the last payment. TCCR will serve on the hirer a notice in writing in the form set in the 4th Schedule to the Hire Purchase Act 1967 and the period fixed by the notice has expired. The period shall not be less than 21 days after service of the notice. In short, TCCR will follow as per HP Act to take repossession for account in arrears after 2 months and 21 days.

Q4 : Do I still have to pay my monthly installments if my motor vehicle is stolen?

Yes. This is because your liability to pay the monthly installments does not cease with the loss of your motor vehicle and you need to lodge a police report and proceed for insurance claims with insurance company. By the way, you can start to discontinue making monthly installment if the amount of insurance claims is able to settle all your HP Loan Outstanding + other charges (if any).

Q5 : If I pay my monthly installment after the due date, will TCCR charge overdue interest?

Yes. You will be charged an interest of 8% per annum for number of days which will be based on the particular monthly installment amount provided in Hire Purchase Act 1967.

Q6 : Can a foreigner apply for the HP Loan?

TCCR is prepared to consider on foreigner application and TCCR will cap at MOF below 70% and usually, a local guarantor is required. The final decision still needs to go through normal credit evalution process. 

Q7 : Can a foreigner who is approved under My2ndHome scheme apply for the HP Loan?

Yes and it similar to Q8. The normal identification document with documentary evidence of participation under My2ndHome program is required. 

Q8 : If I submit a HP Loan and then rejected, can I appeal?

The assigned Credit Evaluation Officer / Executive will contact you and try to get more income documents before rejection. Yes, you can appeal in the event that you have obtained new / addition income documents / personal savings in order to support for our re-evaluation.

Q9 : Can I finance the car purchase with 100% HP loan?

No, it is not allowed via the current HP Act. Maximum MOF is 90 % with 10% down payment is necessary.

Q10 : Can the guarantor of the HP Loan be non-relative eg. Friends?

TCCR prefer family members and qualified guarantor. Non-relative and friends is not encouraged, but can be considered. 

Q11 : Can a Red IC holder with PR card apply for a HP Loan?

PR card holder can enter into HP Agreement and it is valid but not for red IC holder.

Q11 : Can a Red IC holder with PR card apply for a HP Loan?

IC is compulsory but driving license is not necessary but preferably. TCCR will require to know the logic behind for that particular customer for buying a car without a driving license which is regulated under J.P.J rule and regulations.

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