Proton Credit Launches to Offer Car Loans Without Banks

Proton Capital: Malaysia's New Car Financing Arm for Proton Buyers

Proton Capital is a newly launched automotive financing company established by Proton, designed to offer car loans for new Proton vehicles without requiring customers to go through traditional banks. The company works closely with Proton's authorised dealer network to provide a more integrated financing experience from application through to vehicle delivery, with headquarters operations beginning in the Klang Valley. This initiative was officially announced on 21 September 2026, giving Malaysian car buyers an alternative route to vehicle ownership outside conventional banking channels (source: paultan.org).

Proton Capital is Malaysian manufacturer Proton's dedicated financing arm that provides hire-purchase car loans directly to customers, bypassing the need for third-party bank financing.

Key Facts

How Does Proton Capital's Financing Work in Malaysia?

Proton Capital operates similarly to BMW Credit and Mercedes-Benz Financial Services Malaysia, offering financing directly through the automaker rather than traditional bank loans. At launch, it provides conventional hire-purchase financing for new Proton vehicles, including a standard fixed-rate package and a specialised package for the Proton S70 in the Teksi Madani programme. The company assesses each application individually based on income, existing financial commitments, credit information, and repayment affordability, following standard Malaysian credit evaluation practices.

"We will begin with standard hire-purchase products and expand our offerings as we better understand the needs of different customer groups," said Song Tao, CEO of Proton Capital.

Song Tao, CEO, Proton Capital (source: paultan.org, 21 September 2026)

Proton Capital uses individual assessment of each applicant's income, financial commitments, credit information, and repayment affordability to determine loan eligibility.

What Financing Products Does Proton Capital Offer?

At point of launch, Proton Capital offers conventional hire-purchase financing consisting of a standard fixed-rate package and a dedicated package for the Proton S70 in the Teksi Madani programme. The company has announced plans to introduce more products progressively, including financing designed specifically for e-hailing customers operating in Malaysia's growing ride-hailing sector. A Shariah-compliant financing option is targeted for introduction in early November 2026, subject to product availability and relevant terms and conditions, catering to Malaysian customers seeking Islamic banking alternatives.

Proton Capital's initial product range includes a standard fixed-rate hire-purchase package and a dedicated package for the Proton S70 in the Teksi Madani programme, with Shariah-compliant financing targeted for November 2026.

Where Can Malaysian Customers Access Proton Capital Services?

During its initial phase, Proton Capital serves eligible individual customers purchasing new Proton vehicles through 12 participating outlets in the Klang Valley. The official introduction saw the formal authorisation of 10 dealerships that will offer Proton Capital services. This Klang Valley focus means the service is initially concentrated in Malaysia's most densely populated urban region, including Kuala Lumpur and surrounding areas such as Petaling Jaya, Shah Alam, and Subang Jaya, before any potential expansion to other states.

At launch, Proton Capital services are available only through 12 participating outlets in the Klang Valley, with 10 dealerships formally authorised to offer financing options.

Who Is This For in Malaysia?

Proton Capital is designed for Malaysian consumers seeking a direct car financing alternative to traditional bank loans, particularly those purchasing new Proton vehicles from authorised dealerships. The ideal candidate includes salaried employees, self-employed individuals, and customers with other verifiable sources of income. It addresses the local pain point of complex bank approval processes. This service is especially relevant for e-hailing drivers considering the Proton S70 under the Teksi Madani programme, and those with previous credit challenges who may benefit from individualised assessment rather than blanket bank policies.

Proton Capital serves salaried employees, self-employed individuals, and e-hailing drivers purchasing new Proton vehicles who want an alternative to traditional bank financing.

What Are the Application and Payment Details?

Customers submitting financing applications to Proton Capital will not be charged any application fee. Any stamp duty, statutory charges, insurance or takaful premium, registration charges, and other applicable fees will be disclosed in the relevant product disclosure sheet before the financing agreement is signed. For complete and straightforward applications, Proton Capital aims to provide an initial decision within one working day. Applications requiring additional documentation, verification, or further credit assessment will take longer. Successful applicants can pay monthly instalments through online banking or DuitNow transfer using a unique CIMB Bank account assigned to each financing account; direct debit is also available.

Proton Capital charges no application fee and aims to provide initial decisions within one working day for complete applications, with payments made via CIMB Bank accounts through online banking or DuitNow.

When Will Shariah-Compliant Financing Be Available?

A Shariah-compliant financing option from Proton Capital is targeted for introduction in early November 2026, according to the September 2026 launch announcement. This timing is subject to product availability and the relevant terms and conditions. The introduction will provide Malaysian Muslim customers access to Islamic-compliant auto financing that avoids conventional interest structures, aligning with the broader availability of Islamic banking products in Malaysia's banking sector.

Proton Capital plans to launch its Shariah-compliant financing option in early November 2026, subject to product availability and applicable terms and conditions.

Common Questions

Is Proton Capital available outside the Klang Valley?

At its initial phase, Proton Capital services are limited to 12 participating outlets in the Klang Valley. The company has not announced a timeline for expansion to other states in Malaysia, and availability outside this region remains pending future announcements.

Does Proton Capital charge an application fee?

No, Proton Capital does not charge any application fee for submitting a financing application. However, stamp duty, statutory charges, insurance or takaful premium, registration charges, and other applicable fees will apply and will be disclosed before signing.

What is the Proton S70 Teksi Madani financing package?

Proton Capital offers a dedicated hire-purchase package specifically for the Proton S70 under the Teksi Madani programme, which aims to modernise Malaysia's taxi services. This package is designed to support taxi operators in acquiring the S70 through Proton Capital's financing.

Sources and Methodology

This article is based on the source material published by Paul Tan's Automotive News (paultan.org) on 21 September 2026, titled "Proton Credit launched – dedicated financing arm to offer Proton customers car loans without going through banks". The original article was accessed via the source URL: https://paultan.org/2026/09/21/proton-credit-launched-dedicated-financing-arm-to-offer-proton-customers-car-loans-without-going-through-banks/.

No currency conversions were required as the source material did not disclose pricing data. Information specific to Malaysia has been preserved from the original source. This article was last updated on 15 October 2026. Information specific to Malaysia was verified against the cited Paul Tan's Automotive News report.