Daily Markup

Daily Markup #570: Carsome & CIMB team up to launch Malaysia’s first auto financing app for dealers with one-minute approval times, and more

August 18, 2022 · 2 min read
Credit: Digital News Asia

Car financing speeds up

  • Dealing with financial paperwork is tedious, boring, and stressful. It’s also the least exciting part about getting a car, and 500-backed Carsome and CIMB clearly think so too! The two companies have partnered to launch the CIMB Auto Dealer App, a platform that speeds up the car financing process for car dealers.
  • According to CIMB, the app is the first auto financing platform of its kind in Malaysia and its one-minute approval time is the fastest in the market today!
  • The app enables automotive loan approval upon complete submission of required documents, empowering dealers to execute fast, secure, and seamless digital applications for auto financing. They can submit applications anytime and anywhere, and view their status at every stage of the process in real-time.
  • Eric Cheng, Co-founder & Group CEO of Carsome said, “We are excited to work with CIMB to introduce Malaysia’s first Auto Dealer App for vehicle financing. Our partnership will enable more efficient financing approval for customers to purchase cars on Carsome’s platform, providing them with a seamless and hassle-free experience. This is another step forward in our commitment to building the most trusted end-to-end ecosystem in the automotive industry.”
  • Read the full story on Digital News Asia.

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