KUALA LUMPUR, April 24 -- Banks approved the highest amount of car loans in December 2025, exceeding even levels seen during Covid lockdowns, when interest rates were low and manufacturers offered heavy discounts to sustain demand amid a global economic slowdown.

Data published on OpenDOSM, the website operated by the Department of Statistics Malaysia, showed lenders approved RM10.7 billion in hire purchases in December 2025 - roughly RM400 million more than the previous peak in March 2023, when the world was recovering from the Covid crisis.

This figure reflects hire purchases approved. In the same month, the total value of car loan applications surged to RM18 billion. Total hire purchases disbursed in January 2026 stood at RM6.2 billi...