Quick Summary: Banks reject prime mover financing for many reasons. Low CTOS score, new business, old trucks, self-employment. Ing Heng Credit approves 70% of bank rejections with 0% down payment.
Why Banks Reject Prime Mover Financing
- Low CTOS Score: Below 650 means automatic rejection
- New Business: Less than 2 years trading
- Old Trucks: Vehicles over 5 years old
- Self-Employment: Irregular income documentation
- High Debt Ratio: Existing loans too high
- Past Bankruptcy: 7-year record
Common Bank Rejection Reasons
| Reason | Bank Response | Ing Heng Credit |
|---|---|---|
| CTOS below 650 | Rejected | Considered |
| Business under 2 years | Rejected | Evaluated |
| Truck over 5 years old | Rejected | No age limit |
| Self-employed | Rejected | Accepted |
| Past bankruptcy | Rejected | Case-by-case |
Real Bank Rejection Stories - We Approved
CTOS 580 - Bank Rejected, We Approved
"Applied to 3 banks for prime mover financing. All rejected due to CTOS 580. Credit card defaults during pandemic lowered score. Business profitable, RM120,000 monthly revenue, 3 signed contracts. Ing Heng looked at business health, not just score. Approved RM180,000 truck with 0% down. 6 months later, never missed payment. Score now 610. Banks look at numbers, we look at business reality."
- Ahmed Razak, Transport Owner
8-Year-Old Truck - Bank Rejected, We Approved
"Wanted to finance used prime mover, RM110,000. Truck was 8 years old. Bank policy: no trucks over 5 years. Automatic rejection. But truck engine excellent, only 450,000 km, regular service history. Ing Heng inspected truck, verified condition. Approved 0% down payment. Running 2 years, no major issues. Truck generates RM80,000+ monthly revenue. Age is just a number, condition matters."
- Siva Kumar, Owner
New Business - Bank Rejected, We Approved
"Started transport business 8 months ago. Needed 2 prime movers. Banks rejected - minimum 2 years trading required. But I had 5 signed contracts with logistics companies, proven routes from previous driving experience, RM60,000 monthly revenue already. Ing Heng evaluated business potential, not just age. Approved 2 trucks, 0% down payment. Now 18 months later, 4 trucks running, RM200,000+ monthly profit. Banks missed opportunity."
- Wei Chen, Entrepreneur
Why Ing Heng Credit Approves More
Business Viability Focus
We look at revenue, contracts, profitability - not just credit score.
No Age Limit
Trucks over 5 years? No problem. We finance based on condition.
New Business Welcome
Start-ups with strong contracts get approved.
0% Down Payment
Even if bank rejected, we offer 0% down with 100% full loan.
Get Started Today
Bank rejected your prime mover financing? Contact us. We approve 70% of bank rejections with better terms.