KUALA LUMPUR, 20 June 2026 (The Capital Post) – CIMB Bank Berhad has introduced its First Car Solution, a comprehensive financing programme designed to help first-time car buyers aged between 18 and 30 years old manage vehicle ownership costs through tailored financing, protection plans and lifestyle benefits.
The bank said the programme offers competitive financing rates alongside insurance and Takaful protection, Purchase Price GAP (PPG) coverage and CIMB credit card privileges, creating an integrated ecosystem aimed at supporting young Malaysians in making sustainable financial decisions.
As part of the initiative, first-time car buyers will receive complimentary road tax renewals for two years, valued at RM240, making CIMB the first bank in Malaysia to provide such a benefit.
The programme also includes Bancassurance Financing options, offering insurance and Takaful protection against unforeseen circumstances such as accidents or life events that may affect borrowers’ ability to meet their financial commitments.
A key feature of the package is the Purchase Price GAP insurance, which covers the difference between a motor insurance payout and the original purchase price of the vehicle in the event of a total loss.
Chief Executive Officer of CIMB Malaysia and CIMB Bank Berhad, Gurdip Singh Sidhu, said car ownership in Malaysia requires careful planning, particularly for first-time buyers navigating rising living costs and increasing vehicle prices.
He said the programme reflects the bank’s approach to responsible lending by incorporating features that help reduce common ownership expenses, including road tax and insurance protection.
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“By addressing these practical considerations upfront, we aim to support customers in making informed ownership decisions that are financially sustainable,” he said.
The programme also offers CIMB credit card benefits, including cashback of up to RM1,200 annually on petrol and vehicle-related expenses, as well as rebates on groceries and dining.
CIMB said these incentives are intended to help ease the financial burden associated with vehicle ownership while encouraging customers to cultivate responsible spending habits.
Chief Executive Officer of Group Consumer Banking, CIMB Group, Haniz Nazlan, said the programme goes beyond enabling car ownership by helping young adults build a foundation for long-term financial independence.
She said the initiative combines lifestyle benefits with protection plans to help customers strengthen their financial resilience and make sustainable financial choices.
The launch of the First Car Solution reinforces CIMB’s “Moving You Forward” brand promise by expanding access to affordable and flexible mobility financing solutions for aspiring car owners. – The Capital Post
