MyTukar to provide RM300million financing scheme to support used car dealers with CapBay.

Authorised dealers will receive a RM100,000 pre-approved revolving credit line to purchase cars


Alfred Lee 8 Jul, 2020

MyTukar to provide RM300million financing scheme to support used car dealers with CapBay.

MyTukar has teamed up with CapBay to offer a "one-click financing" option for used car dealers – the MyTukar Dynamic Dealership Programme

The new financial program aims to provide a hassle-free financing experience for over 1900 authorised dealerships in Malaysia, with a total financing of up to RM300 million. 

Authorised dealers will receive a RM100,000 pre-approved revolving credit line to purchase cars from their platform and up to RM500,000 revolving facilities for inventory management, trade financing, and working capital. 

 "Our priority at this point of time is to support our authorised dealers in reducing financial impact and business risks. Through MyTukar, we aim to simplify the process of selling pre-owned cars through digitalisation and to serve our customers with better transparency through an efficient online Car Selling platform." said Fong Hon Sum, CEO of MyTukar.com Malaysia.

Moving forward, MyTukar aims to collaborate with a wider range of partners to provide more authorised dealers to grow their businesses.

CapBay has also started accepting financing applications from MyTukar auto dealers since 1 June 2020. 

Dealers who wish to sign up for MyTukar’s exclusive dealership program can find out more via the official website.

Alfred LeeAuthor

Journalist at BEAMSTART. I write about breaking business news in the region.

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