{"id":3099,"date":"2026-01-20T17:47:32","date_gmt":"2026-01-20T17:47:32","guid":{"rendered":"https:\/\/malaysian-business.com\/wptest\/2026\/01\/20\/fastest-growing-used-car-trading-platform-mytukar-teams-up-with-capbay-to-provide-rm300million-financing-scheme-to-support-1900-used-car-dealers\/"},"modified":"2026-01-23T17:46:31","modified_gmt":"2026-01-23T17:46:31","slug":"fastest-growing-used-car-trading-platform-mytukar-teams-up-with-capbay-to-provide-rm300million-financing-scheme-to-support-1900-used-car-dealers","status":"publish","type":"post","link":"https:\/\/malaysian-business.com\/portal\/2026\/01\/20\/fastest-growing-used-car-trading-platform-mytukar-teams-up-with-capbay-to-provide-rm300million-financing-scheme-to-support-1900-used-car-dealers\/","title":{"rendered":"Fastest growing used car trading platform MyTukar teams up with CapBay to provide RM300million financing scheme to support 1,900 used car dealers"},"content":{"rendered":"

Kuala Lumpur, 25 June 2020\u00a0<\/b>\u2013\u00a0MyTukar, the fastest growing used car trading platform\u00a0has\u00a0teamed up with\u00a0Malaysia\u2019s leading Supply Chain Financing and P2P platform, CapBay to\u00a0offer a seamless integrated one-click financing programme for used car dealers \u2013 the\u00a0<\/span>MyTukar Dynamic Dealership Programme<\/b>. This innovative dealership financial services programme aims to provide a hassle-free financing experience\u00a0for all their authorised dealerships in\u00a0Malaysia, with a total financing of up to RM300 million. CapBay\u2019s strong technological expertise in executing end to end digitization and automation of financing processes\u00a0enables\u00a0the online car bidding platform\u00a0to effectively drive\u00a0its Dealer Management System.\u00a0This in turn allows MyTukar to support used car dealers with a comprehensive financial ecosystem.<\/span><\/p>\n

“We are pleased to introduce <\/span>MyTukar Dynamic Dealership Programme,<\/b> our new dealership financial services to support our 1,900 nationwide authorised dealers with a convenient and integrated purchasing experience. We believe that this programme will further strengthen our dealership ecosystem while supporting our authorised dealers’ used car business through this challenging time,” said Fong Hon Sum, CEO of MyTukar.com Malaysia.\u00a0<\/span><\/p>\n

He added, “Our priority at this point of time is to support our authorised dealers in reducing financial impact and business risks. Through MyTukar.com, we aim to simplify the process of selling pre-owned cars through digitalisation and to serve our customers with better transparency through an efficient online Car Selling platform.”<\/span><\/p>\n

The <\/span>MyTukar Dynamic Dealership Programme<\/b> is a comprehensive financial services facility that provides MyTukar authorised dealers with an effective and convenient ‘one-stop-solution’ to operate and grow their dealership business. Fong who has experience in the used car dealer business shared, \u201cWith the\u00a0addition\u00a0of CapBay\u2019s broad range of financial\u00a0facilities\u00a0to the programme, authorised\u00a0dealers\u00a0will receive a RM100,000 pre-approved revolving credit line to purchase cars from our platform and up to RM500,000 revolving facilities for inventory management, trade financing, and working capital. This enables MyTukar\u2019s authorised dealerships to better manage their cash flow by giving a higher margin of finance for all\u00a0drawdowns.\u201d\u00a0<\/span><\/p>\n

\u201cAt CapBay, we put a strong emphasis on technology because we want to provide a hassle-free digital financing experience for our customers and our partner MyTukar shares that vision. Through this initiative, we hope to help kickstart and speed up the recovery of the used vehicle market. We are delighted that our financial solutions are able to offer support within minutes to pre-approved car dealers who are facing cash flow pressure through these uncertain times and also present them with an opportunity to grow their dealership,\u201d said Ang Xing Xian, co-founder of CapBay.<\/span><\/p>\n

The revolving facilities enable MyTukar’s authorised dealers to procure vehicles and list it\u00a0on MyTukar’s online car bidding platform to fetch a higher price for their inventories. The new<\/span> MyTukar Dynamic Dealership Programme<\/b> offers hassle-free financing within seconds to further complement the car purchasing experience\u00a0on MyTukar’s platform.\u00a0Dealers can\u00a0pay for the financing\u00a0margin balance using this facility. In other words, authorised dealers can\u00a0receive short-term financing without cash outlay for\u00a0purchases and free up cash flow for other investments or business opportunities.\u00a0<\/span><\/p>\n

CapBay has started accepting financing applications from MyTukar auto dealers since\u00a01 June 2020.\u00a0For more information, please visit:\u00a0<\/span>www.capbay.com\/mytukar<\/span><\/a>.\u00a0To sign up for MyTukar\u2019s exclusive dealership program, please visit\u00a0<\/span>https:\/\/mytukar.com\/dealership-program<\/span><\/a>.<\/span><\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Kuala Lumpur, 25 June 2020\u00a0\u2013\u00a0MyTukar, the fastest growing used car trading platform\u00a0has\u00a0teamed up with\u00a0Malaysia\u2019s leading Supply Chain Financing and P2P platform, CapBay to\u00a0offer a seamless integrated one-click financing programme for used car dealers \u2013 the\u00a0MyTukar Dynamic Dealership Programme. This innovative dealership financial services programme aims to provide a hassle-free financing experience\u00a0for all their authorised dealerships […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-3099","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/3099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=3099"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/3099\/revisions"}],"predecessor-version":[{"id":3591,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/3099\/revisions\/3591"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=3099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=3099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=3099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}