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Car Refinance & Get Ready Cash

at 3.75% for 9 years

No Guarantor, No extra Liabilities on legal loan

e-tunai Car Refinancing Scheme lets you reschedule your existing fixed monthly car instalment commitments to enjoy better long term cashflow.

You can take advantage of its current low interest rates and longer period for lower monthly repayments. You'll also get a higher margin of financing while maintaining your vehicle ownership.

Designed to comply with the provisions of the Hire Purchase Act 1967, it allows you to enjoy complete peace of mind too.

What do I get?

  1. Easier cashflow - lower monthly loan repayments
  2. Immediate cash
  3. No added liabilities
  4. Retained ownership - your name remains on the JPJ - Jabatan Pengangkutan Jalan registration card. Use same Permit Name.
  5. Insurance, retain NCD
  6. Opportunity to switch to lower profit rates
  7. An alternative offer to repackage your existing loan to Islamic based financing
How does it work?
Ownership is transferred from the current hirer (individual or company) to e-tunai and hen back in the hirer's name in a double transfer process with JPJ. As such, the transfer fee is charged twice.


Normal HP Transaction:
Customer A --> e-tunai --> Customer B

e-tunai Car Refinancing Scheme:
Customer A --> e-car --> e-tunai --> Customer A

Insurance must be for no less than 1 year, with all vehicles insured with comprehensive insurance.

Administration Fee ranges from RM850 to RM1,550 or flat rate of 1% of the loan amount.

Road Tax can be:-

  1. Renewed at customer's request
  2. Deducted from Net Sales Proceeds
Settlement of outstanding loan balances with any financier or other organization will be done by e-tunai.

Processing Time varies. Completion takes 2 weeks for unencumbered vehicles and 3 weeks for encumbered vehicles.

E-tunai, which manages the Car Refinancing Scheme. Is the authorized agent of Bank Negara. All cases will exclusively be submitted to e-tunai for consideration. This makes payment of monthly instalments so easy, since you can do it on Internet, globally worldwide.


Loan application -
Upon decision e-tunai will contact you to arrange for loan execution and vehicle inspection
Signing of loan
documentation and
Inspection of vehicle
Loan Execution:
You must be present with all the original documents

Insurance coverage:
Relevant insurance must be paid and documents is provided

Settlement with other Finance Company:
If there is any outstanding balance on the vehicle, you are to provide a copy of the settlement amount, which is valid for at least 14 days.

Loan settlement
(for encumbered vehicle)
e-tunai will settle the existing loan upon completion of documentation and inspection.
JPJ (RTD) transfer Upon obtaining the release letter, e-tunai will forward all transfer documents to JPJ for a double transfer.
Cash to you Upon completion of the transfer, e-tunai will refund the balance to you.
Monthly instalment
/ renewal of road
tax and insurance
Customers undertake these on Internet www.oocities.com/etunai/ecar.htm

Terms And Conditions

Margin of financing & tenure As per e-tunai Hire Puchase standard guidelines
Interest rate Ranges from 3.75% to 5%
Age of vehicle eligible for refinancing Up to 13 years old
Eligibility of Hirer Individual or coprporations not blacklisted by any financial institutions for unpaid debts.

Malaysia citizen aged between 18 to 55. A guarantor is required for foreign applicants or those above 55 years. Corporate bodies must be incorporated in Malaysia.

For individual applicants, the monthly repayment must not exceed 1/3 of the applicant's gross income ( as evidenced by proof of income). Corporate applicants must conduct genuine and legal business with sufficient cashflow to meet current liabilities.

Fees and Charges

Loan amount (RM) Administration fees
20,000 and below RM850
21,000 and above Between RM950 ~ RM1,550 or 1% of loan amount, whichever is higher

Transfer fee RM
Local 400
Outstation 450
Refinance with a leader
An agent of Bank Negara, e-tunai is Malaysia's leading car loan refinancer. We are backed by Bank Negara with an extensive network worldwide on Internet.

Most importantly, e-tunai gives you the most competitive rates at the lowest possible closing cost and attractive hire purchase terms and conditions.

How to apply?
Option 1 Phone or meet up 0128328587 0128282799
Option 2 Fax or email 088.237358 print89@yahoo.com
Name, Contact No., loan amount, existing financer, settlement amount
Option 3 SMS 0128328587 0128282799

FAQ - Frequently Asked Questions

How does the e-tunai Auto Refinancing Scheme work?
e-tunai will purchase your vehicle from you. You will then appoint e-tunai to arrange for a new hire purchase financing facility on your behalf. With the purpose of hiring back the vehicle. E-tunai will then sell the vehicle to e-tunai, which will hire the vehicle to you over a period. The hire purchase agreement will include an option for you to purchase the vehicle at the end of the hire purchase term.

What are the benefits?
This Scheme allows you to reschedule your existing financial commitments. You may choose to stretch your existing hire purchase loan up to a maximum of 108 months, which means that your loan repayment is reduced and you have additional cash flow with which to manage your expenses. You may also choose to unlock cash from your vehicle by applying for maximum allowable financing ( i.e. 90% of the sale price ) after selling your car to e-tunai.

Do you refinance consumer goods?
No. We arrange for refinancing of motor vehicles only, not items such as air-conditioning units or sewing machines.

Do you refinance lorries, buses, heavy equipment and machinery?
The Scheme has yet to be extended to these.

Can I apply of my car is being financed by another company?
Yes. Once we agree to purchase your car and e-tunai agrees to extend a hire purchase loan to refinance your car, we will fully settle your existing hire purchase loan and perform all the necessary transfer transactions at the JPJ.

The family car is registered in my wife's name. Can I refinance it under my name?
No. We can only refinance the car under its currently registered owner. In this case, your wife.

Isn't it better to refinance my car by selling it to a third party?
Contrary to popular belief, this is not a very good way to refinance your car. By selling it to a third party and continuing to use the car, you might run foul of statutory requirement under the Hire Purchase Act 1967, which requires you to update your finance company of the place where the car is kept. Although you continue using it, the car does not legally belong to you anymore. Are you willing to take such a risk?

I heard refinancing packages are illegal. Could I get into trouble?
We obtain top-notch legal advice during the design stage of the Scheme. By sharing our expertise and experience, we managed to design a car refinancing package that abides by the provisions of the Hire Purchase Act 1967 and adheres to the requirements set by Bank Negara Malaysia.

Can my company refinance its company car?
Most definitely! We would be happy to assist your company in rescheduling its commitments and improving its cashflow management.

Why refinance with e-tunai and not others?
We are backed by Bank Negara Malaysia and provide low interest rate.

What are the costs?
We charge a handling fee for purchasing the car from customers. This varies according to the refinancing loan amount that the customer applies for. The handling charges range from RM850 to RM1,550 or a flat rate of 1% depending on the loan amount. Customers will also have to pay a fee of about RM400 for registration and transfer of ownership at JPJ. These charges will be deducted fron the balance due to you from the sale of your car to e-tunai.

I reside outside the Klang Velley. Can I apply for a refinancing package from e-tunai?
We do extend our refinancing package to those residing outside the Klang Valley. We will soon be opening more branches at strategic locations in Malaysia to serve you better.

Margin of financing

Can I refinance my car at 100% of the market value?
We are bound by the provisions of the Hire Purchase Act 1967, which requires a hire purchase financier to provide a maximum of 90% of a vehicle's market value.

How can I be sure your quoted market value is fair?
The market value quoted by us is based on our Internal Pricing Committee Guidelines, a comprehensive compendium of the average market value of almost all cars on the road today. The price adopted is based on recommendations made by our vehicle evaluation experts who regularly analyze the current used car market. You can check in the market for the accuracy of our valuation. Due to the rigorous process that we go through, it is usually accepted as the benchmark for used car pricing in the market.


What is the minimum tenure for refinancing my car?
24 months

What is the maximum tenure?
108 months, depending on the make, model and age of the car


What is the refinancing profit rate?
Depending on the make, model and age of the vehicle, we can offer rates as low as 3.75% to our customers.

Is the rate negotiable?
Yes. We take into account each customer's credit track record before offering the best possible rate.


Who can apply?
Malaysia citizens aged between 18 and 55 years or companies incorporated in Malaysia, who are not blacklisted by any financial institution for unpaid debts.

Can a foreigner apply?
Yes, provided that a Malaysian stands as guarantor for his refinancing application.


Is a guarantor required?
A guarantor is required in the following circumstances.
If the borrower is:
An individual
- whose income is less than 1/3 of the incoome criteria
- whose age exceed 55 years
- whose credit evaluation shows that a guarrantor is needed to substantiate the application.

A foreigner - The guarantor must be a Malaysia citizen.
A Company - A director may stand as guarantor.


What documents are required for an application by an individual?
  1. Photocopy of your IC and driving licence ( both sides )
  2. Income supporting documents
  3. Utility bill such as electricity or water bill
  4. Copy of registration card ( for used car financing only )
  5. Repayment slips if available
  6. Supporting documents by eligible guarantor/s ( required in the event the application does not meet the credit standard )
What documents are required for an application by a company?
  1. Copy of business registration
  2. Form B ( for sole proprietorship only )
  3. Form D ( for partnership only )
  4. Form 24, 44, 49 and M&A ( for private limited companies / Sdn. Bhd. )
  5. Financial statements / audited accounts for private limited companies/ Sdn. Bhd.
  6. Latest 3 months' bank statements
  7. Repayment slips if available
  8. Supporting documents by eligible guarantor/s ( at least 1 guarantor must be a director of the company and a Malaysia citizen )
What documents are required for an application as a guarantor?
  1. Copy of IC and driving licence
  2. Latest 3 months' salary slips
  3. Form J and EA Form
  4. Copy of bank statement and savings passbook

Approval & Disbursement

How soon can my loan application be approval?
Within 1 week after we receive your completed application form and all required documents from you, and upon passing the necessary credit checks.

How soon can the loan be disbursed?
The net sale proceeds will be released to you as soon as transfer of ownership and endorsement of e-tunai's ownership claim at JPJ have been affected. It may take between 2 to 3 weeks.


Can e-tunai arrange the necessary motor insurance coverage?
If you do not have a personal insurance agent, we can arrange for your motor insurance to be covered by e-tunai, for the purpose of refinancing package.

Pinjaman e-Car
P.O.Box : 13257, 88836 Kota Kinabalu
Sabah, Malaysia
Pejabat : Likas Square, KK Plaza, Bandaran Berjaya, Damai Plaza
Email : print89@yahoo.com
Handphone : +6.0128282799 / +6.0128328587

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Launched on 1998 & updated on July 2005