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 bank at an agreed price. Non-Muslim customers are also welcome to enjoy this Islamic Automotive Financing Plan.
- A Shariah-Compliant Auto-Financing Product
- Fast processing and approval
- Easy monthly contribution of your instalment via various modes of payment
|Eligibility||Individuals age 18 years old and above only for Private registrations|
|Margin of finance||Maximum 90% financing subject to minimum loan|
- 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 enter into a lease contract for a specified tenure and subsequently enter into 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?
No minimum length of time required, except that you should be able to produce 1 month's payslip (that includes the name of your employer in the civil sector/government). Click here to explore our Jom Drive Campaign!.
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