CIMB partners with Carsome to roll out a car dealer app which offers one minute auto financing approval

CIMB announces that it had rolled out the CIMB Auto Dealer App (iOS, Android) that they say “enables automotive loan/financing approval within one minute upon full submission of required documents”. CIMB says that it is also the “first auto financing platform of its kind in Malaysia”.

What is the CIMB Auto Dealer App?

The CIMB Auto Dealer app is for car dealers, giving them a way to simplify and expedite the auto financing submission process. The app has a real-time submission tracking feature that updates dealers on the status at every stage of the process.

It also prides in a “1-minute InstaApproval” feature, as long as you can provide complete documents like the customer’s MyKad for salaried professionals with a payslip and/or EPF statement. Upon approval, customers and dealers will be notified via real-time SMS “immediately”. However, there are terms to that—like CIMB could cancel the financing if there is any misrepresentation in any form. You can read more into it through their site.

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

For existing CIMB auto dealers, you could just download the app straightaway and register with your dealer code. But for unregistered dealers, you’d need to first contact CIMB’s Auto Service centre to sign up by dropping a message here.

“With the success of this partnership, we look forward to onboarding other car dealers nationwide to make the auto financing process more convenient and transparent 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 of CIMB Group.

The CIMB Auto Dealer App is available for both new and used car financing. You can currently sign up as a car dealer through Carsome, but paperwork might be a tricky part of the business. You can read the app’s terms and conditions before you sign up for CIMB’s service.

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