Details

---

Truck Financing Malaysia Guide (2026): Interest Rates, Deposit & How to Get Approved

Planning to buy a commercial truck but unsure about truck financing in Malaysia?

Whether you’re a first-time lorry buyer, logistics startup, or expanding your fleet, understanding how truck loans work can save you thousands in interest and prevent loan rejection.

This 2026 guide covers:

• Types of truck financing available

• Deposit requirements

• Interest rate estimates

• Documents needed

• Tips to increase approval chances

• Where to buy trucks with financing support

---

What Is Truck Financing in Malaysia?

Truck financing (also known as commercial vehicle hire purchase) allows you to:

✔ Pay a deposit upfront
✔ Spread the remaining balance into monthly installments
✔ Use the truck immediately for business operations

Most truck buyers in Malaysia use hire purchase loans offered by banks or financial institutions.

---

Types of Truck Financing Available

1️⃣ Hire Purchase (HP Loan)

Most common option for:

• SMEs

• Logistics companies

• Sole proprietors

Loan tenure: 5–9 years
Ownership transfers after full payment.

---

2️⃣ Company Loan / Fleet Financing

Suitable for:

• Established companies

• Businesses purchasing multiple trucks

Often offers better negotiation flexibility.

---

3️⃣ Islamic Financing (Shariah-Compliant)

Available for buyers who prefer Islamic banking structures.

---

Truck Financing Interest Rate in Malaysia (2026 Estimate)

Vehicle Type	Interest Rate Range
New Truck	2.5% – 4.5% p.a.
Used Truck	3.5% – 6.5% p.a.

Rates vary depending on:

• Credit profile

• Business history

• Bank policy

• Vehicle age

Always compare multiple banks before signing.

---

How Much Deposit Is Required?

Typical deposit:

✔ 10% – 20% for new trucks
✔ 20% – 30% for used trucks

Some cases may require higher deposit depending on risk profile.

---

Documents Needed for Truck Loan Application

For Company:

• SSM registration

• Company bank statements (6 months)

• Latest financial statement

• Director IC

For Sole Proprietor:

• SSM registration

• Personal bank statements

• Income proof

• IC

Preparing documents early speeds up approval.

---

How to Increase Your Approval Chances

✔ Maintain good credit score
✔ Avoid bounced cheques
✔ Prepare stable cash flow record
✔ Provide proper company documentation
✔ Choose realistic loan amount

New businesses may face stricter evaluation — but approval is still possible with proper documentation.

---

Should You Buy New or Used When Financing?

Buy New If:

✔ You want lower interest rates
✔ You prefer warranty coverage
✔ You plan long-term usage

Buy Used If:

✔ You want lower upfront investment
✔ You want faster ROI
✔ Expanding fleet quickly

Working with a professional dealer simplifies financing.

---

Where to Get Truck Financing Support in Selangor

If you are searching for:

• Truck loan Malaysia

• Lorry financing Selangor

• Used lorry installment plan

• Commercial truck hire purchase

TNL Lorry Solution assists buyers with:

✔ Truck selection guidance
✔ Financing consultation
✔ Loan application support
✔ New & used commercial trucks
✔ First-time buyer assistance

Based in Petaling Jaya, Selangor, they help logistics businesses and SMEs secure vehicles with structured financing.

---

Common Truck Financing Mistakes to Avoid

❌ Not comparing interest rates
❌ Overstretching monthly commitments
❌ Ignoring vehicle inspection
❌ Choosing unreliable dealers
❌ Applying without proper documents

Smart planning reduces rejection risk and financial strain.

---

Frequently Asked Questions

❓ Can a new company get truck financing?

Yes, but approval depends on financial documents and bank evaluation.

❓ What is the maximum loan tenure?

Typically up to 9 years depending on vehicle age.

❓ Is financing better than cash purchase?

Financing preserves cash flow for business operations.

❓ Can I refinance later?

Some banks allow refinancing subject to policy.

---

Final Thoughts: Finance Smart, Grow Faster

Buying a commercial truck is a major business investment.

If you want:

✔ Structured monthly payments
✔ Competitive interest rates
✔ Faster approval
✔ Reliable truck dealer support
✔ Professional financing guidance

Work with experienced dealers like TNL Lorry Solution to streamline your truck purchase process.