CIMB introduces first-of-its-kind First Car Solution for new car owners

19 June 2026

The programme includes two years of complimentary road tax renewal, comprehensive financing, Purchase Price GAP protection and credit card benefits

Kuala Lumpur: CIMB Bank Berhad (“CIMB” or “the Bank”) has announced its “First Car Solution” (“the Programme”), aimed at providing first-time car owners automotive financing with competitive financing rates, complemented by essential financial protection facilities, including insurance and Takaful protection, as well as CIMB credit cards. The comprehensive ecosystem is designed to assist customers aged 18 to 30 years old in effectively managing their finances through tailored financing and protection options. With this initiative, CIMB reinforces its position as the preferred banking partner for lifestyle and mobility needs, delivering affordable and flexible solutions for aspiring car owners.

First-time car buyers will enjoy complimentary road tax renewal for two years amounting to RM240, making CIMB the first bank in Malaysia to offer this value-added facility. Competitive financing rates make the car‑buying process more convenient and accessible. The inclusion of insurance and Takaful protection through Bancassurance Financing offers a safety net against unforeseen circumstances such as accidents or life events that may impact financial commitments, offered at a minimal cost to deliver greater peace of mind. A key benefit includes full payout of purchase price for a car in case of total loss, available with Purchase Price GAP (“PPG”) insurance. PPG covers the difference between motor insurance payout and the original purchase price of the vehicle. The First Car Solution reflects the Bank’s brand promise of “Moving You Forward”, enabling customers with access and opportunities so that they can progress to achieve their long-term goals.

Gurdip Singh Sidhu, Chief Executive Officer of CIMB Malaysia and CIMB Bank Berhad said, “Car ownership in Malaysia requires careful consideration, particularly for first-time buyers navigating competitive vehicle prices and balancing rising living costs. Beyond access to financing, buyers should ensure monthly commitments remain manageable over time. CIMB’s First Car Solution reflects CIMB’s approach to responsible lending by incorporating features that help reduce common cost pressures associated with car ownership, such as road tax and insurance protection. By addressing these practical considerations upfront, we aim to support customers in making informed ownership decisions that are financially sustainable.”

Meanwhile, credit card privileges promote responsible spending habits and provide added value to customers including cashback on petrol and car related expenses of up to RM1,200 per annum, as well as groceries and dining cash rebates. These offerings help alleviate the financial obligations associated with car ownership, ensuring first-time car owners focus on their mobility needs without worrying about additional expenses, while empowering them to cultivate sound financial practices for the future.

Haniz Nazlan, Chief Executive Officer of Group Consumer Banking, CIMB Group, said, “We understand that, for young adults it is not just about owning a car, but it is also important to build a foundation for financial independence and security. The Programme is designed to make that goal happen through a well-structured car ownership programme to help the buyer in planning for long-term financial wellbeing. By combining lifestyle benefits and protection plans, we’re helping the next generation build financial resilience and make sustainable financial choices whilst staying committed to our broader purpose of advancing customers and society.”

For more information about the Programme, please visit https://www.cimb.com.my/firstcar. Terms and conditions apply.