CIMB Partners with Carsome to Deploy Car Dealership App That Offers One-Minute Auto Finance Approval

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CIMB announces that it has deployed the CIMB Auto Dealer application (iOS, android) that they say “allows auto loan/finance approval within one minute after complete submission of required documents”. CIMB claims that it is also the “first car finance platform of its kind in Malaysia”.

What is the CIMB Auto Dealer app?

The CIMB Auto Dealer app is for car dealerships, giving them a way to simplify and speed up the auto finance quote process. The app has a real-time quote tracking feature that notifies dealers of the status every step of the way.

It also boasts a “1 minute InstaApproval” feature, as long as you can provide complete documents like the client’s MyKad for salaried professionals with a payslip and/or EPF statement. After approval, customers and dealers will be informed by SMS in real time “immediately”. However, there are conditions to this, such as CIMB could cancel the funding if there is a misrepresentation in any form. You can read more through their website.

According to CIMB, the quick approval method via the app means there is no lengthy paperwork required. This means the process would be “quick, stress-free and efficient”, and the reduction in paper usage makes it more “environmentally friendly”.

For existing CIMB car dealerships, you can simply download app immediately and register with your dealer code. But for unregistered dealers, you need to contact CIMB auto service center first to register by post a message here.

“With the success of this partnership, we look forward to onboarding other auto dealerships nationwide to make the auto finance process more convenient and seamless with a fully digital process and real-time status tracking. The app reflects our commitment to continuously improve and simplify the banking experience for our customers and partners through digital innovation…” said Samir Gupta, CEO, Group Consumer Banking at CIMB Group.

The CIMB Auto Dealer app is available for new and used car financing. You can currently register as a car dealer via Carsome, but the paperwork can be a tricky part of the business. You can read the terms and conditions before registering for the CIMB service.

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