Perodua Introduces ‘Flexiplan’ Shariah-Compliant Agility Financing Scheme

Perodua and Maybank Islamic Berhad jointly launched the Shariah-compliant Perodua Flexiplan financing scheme earlier today.

Earlier today, Rawang-based national automaker Perodua launched a groundbreaking new financing scheme called the Perodua Flexiplan. This initiative was borne out of a collaboration between the automaker and leading local bank Maybank Islamic Berhad.

Essentially, the Perodua Flexiplan is based on the existing Maybank Islamic myimpact Drive Financing-i scheme. Besides marking a first for both firms, this Shariah-compliasnt auto financing agreement promises customers a seamless and inclusive vehicle financing scheme.

Perodua president and CEO Datuk Seri Zainal Abidin Ahmad (second from left) with Maybank Group CEO of Community and Financial Service Syed Ahmad Taufik Albar (second from right) at today's launch.

“We believe that with the backing of Malaysia’s biggest bank combined with the trust that we have earned from Malaysians; the Perodua Flexiplan will be well accepted,” expressed Perodua CEO and president Datuk Sri Zainal Abidin Ahmad, who was present to launch the scheme earlier today at the Le Meridien Kuala Lumpur.

“We are proud and excited to provide this innovative approach to all Malaysians alongside Perodua – one that addresses the preferences of modern car buyers and empowering our customers with flexible ownership choices,” adds Syed Ahmad Taufik Albar, Group CEO, Community and Financial Services, Maybank, who was also present at today's launch.

The Perodua Flexiplan appears similar to other Shariah-compliant financing schemes, but the real difference is its unique buy-back promise offered to customers purchasing a new Perodua model.

Firstly, the Perodua Flexiplan is presented as a highly competitive Murabahah Vehicle Term Financing agreement that promises affordable monthly payment terms over an initial five-year term.

Though similar to any other Shariah-compliant auto finance scheme, the real difference comes at the end of said initial five-year term. At which point, the agreement sees Perodua agreeing to buy back the customer’s vehicle at “a competitive price” versus market value for the purchase of a brand new Perodua model.

In other words, Perodua is offering secured residual resale value through this scheme for customers to offset their down payment and refresh the five-year term to purchase a brand new Perodua model. Additionally, there’s the added flexibility stemming from the fact that customers can freely trade-in for a new model or keep their current vehicle.

Presently, the new Perodua Flexiplan is offered exclusively for four models, those being the (clockwise) Axia (except the Axia E), Ativa, Aruz and Myvi.

For the latter, the Perodua Flexiplan lets customers choose between settling their outstanding balance, or by extending the initial financing tenure by up to four years under a revised payment plan. In other words, this scheme sees Perodua offer customers with both short- and long-term benefits.

Presently, this novel and Shariah-compliant Perodua Flexiplan is offered for four key models, those being the Axia (excluding the Axia E @ ‘Axia Rahmah’) supermini, the Myvi hatch, the Ativa compact crossover, and the Aruz SUV.

Customers keen on this scheme can consult with sales advisors at Peordua showrooms nationwide, as well as with any consultants at Maybank branches nationwide.

More details about the new Perodua Flexiplan financing schene can be obtained by consulting with sales advisors at authorised Perodua showrooms and dealerships nationwide. Alternatively, customers can also consult with advisors from any Maybank branch nationwide.

Lastly, at today’s launch, both Perodua and Maybank have also committed to develop attractive financing schemes for the automaker’s upcoming first electric vehicle (EV) offering when it launches later this year.