Vehicle Financing

Key Features

Online Approval

Apply through HP Online and get approval within minutes.

Attractive Interest Rates

Competitive financing rates.

Flexible Tenor

Financing period of up to 7 years.

Digital Payment Channels

Payment convenience through Baiduri Finance Mobile App, b.Digital Personal, Standing Instruction and ATM/CDM.

Bonus Points

Earn bonus points for all transactions made with your Baiduri Mastercard Auto Direct Prepaid Card.

Motor Insurance and Road Tax Renewal

Automated renewal services for your convenience.

EASY PAYMENT CHANNELS

Baiduri Finance Mobile App

Auto Direct Prepaid Card

Recurring Billing

Standing Instruction

B.Digital Personal

Automated Teller Machine

Cash Deposit Machine

Benefits

Owning your dream car can be fast and easy. With complete documentation, you can receive instant approval.

Competitive interest rate as low as 4.25% p.a.
Complimentary Baiduri Mastercard Auto Direct Prepaid Card which offers a host of benefits including bonus points.

Eligibility Criteria
Required Documents
Fees & Charges
Terms & Conditions

Eligibility Criteria
Eligibility Criteria
Brunei residents and foreigners with valid employment pass
Between 18 and 60 years of age
Required Documents
Required Documents
INDIVIDUAL

Valid Identity Card or Passport
Valid Brunei Driver’s Licence
Evidence of fixed and/or monthly variable income (payslip)
Latest 3 months bank statement/updated savings passbook or any other evidence of savings
Foreigners must present a valid employment pass

ORGANISATION

For Limited Company (Sdn Bhd); Certificate of Incorporation, Form X, Particulars of Directors, Authorised Signatories Mandate, Board Resolution, Memorandum of Articles and Audited Financial Statement.
For Sole Proprietorship or Partnership;Business Registration Certificate, Section 16 and 17 and Authorised Signatories Mandate.
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Fees & Charges
Fees & Charges
Types
Charges
Early Settlement fee
Hire Purchase facility tenor balance MORE than half of original tenor
2% of the principal amount or max. BND 500, whichever is lower
Hire Purchase facility tenor balance LESS than half of original tenor
1% of the principal amount or max. BND 250, whichever is lower
Overdue Interest
1.25% per month from due date until the final payment
Customer Ledger/Transaction History request
BND 3 per copy
Certificate of Balance
BND 30
Ceased Letter for Hire Purchase
First Issuance
BND 30
Duplicate Copy
BND 15
Hire Purchase Accounts
Assignment
BND 250
Additional BND 10 levied for Collateral Registry System
Variation
BND 150
Additional BND 10 levied for Collateral Registry System
Repossession / Embargo
Minimum of BND 200
Car Yard Storage fee upon repossession
BND 200 per entry
Towing fee upon repossession
Minimum of BND 70
Audit Confirmation Report
Within 12 months
BND 100
Above 1 year to 2 years
BND 200
Above 2 years
BND 300
Bluecard, Insurance & Road Tax renewal
Retention Letter for change of Car Registration Number
BND 30
Insurance Renewal (for instalment)
40% deposit of total insurance amount
Duplicate Bluecard (if original is lost)
BND 250
IMPORTANT NOTE

The above tariffs and fees are valid as at 1 August 2022.
The above tariffs and fees may be revised and varied at the sole and absolute discretion of Baiduri Finance from time to time without prior notice.
Baiduri Finance reserves the right to, at our sole and absolute discretion, from time to time levy or introduce additional tariffs and fees which are not stated above without prior notice.
Terms & Conditions
TERMS & CONDITIONS
The Hirer warrants that the particulars of the Hirer in the Owner's hire purchase credit proposal form to be true and accurate and the truth of such particulars shall be a condition of the Hire Purchase Agreement.

The Vehicle/Goods is and shall be the absolute property of the Owner subject to and in pursuance of the terms of the Hire Purchase Agreement.

The Hirer agrees :-

a) To maintain at all times a Vehicle driver’s or operator’s licence (if and where applicable) or any other licences or relevant registration documents (if and where applicable) and at the Hirer’s cost renew the same in respect of the Vehicle in the Hirer's own name in due compliance with any statutory regulations and/or requirements of any government authority (if applicable) and when requested by the Owner, to promptly furnish a copy of the licence(s) to the Owner.

b) To punctually pay all registration charges licence fees (if and where applicable) and other outgoings payable in respect of the Vehicle/Goods or the use thereof or in respect of any premises in which the Vehicle/Goods may from time to time be placed or kept and produce to the Owner on demand the last receipts for all such payment and in the event of the Hirer making default in payment under this sub-clause, the Owner shall be at liberty but not obliged to make all or any of such payments and thereafter upon making those payment(s), recover the amount thereof from the Hirer forthwith upon demand.

c) To keep the Vehicle/Goods in the Hirer's actual possession and control and provide for its safe keeping (properly housed, sheltered and protected) at all times.

d) To permit any persons authorised by the Owner at all reasonable times to have access thereto for purposes of inspecting and examining the Vehicle/Goods.

e) Not to create or allow any charge incumbrance or lien to be acquired in respect of the Vehicle/Goods whether for repairs or otherwise and the Hirer shall notify any repairer or other person of this prohibition and in the event of any breach of this clause by the Hirer, the Owner shall be entitled (but not bound) to pay to any third party such sum as is necessary to procure the release of the Vehicle/Goods from any charge incumbrance or lien and shall further be entitled to recover all such sum(s) from the Hirer forthwith upon demand.

f) Not without the Owner's prior consent in writing to sell assign transfer pledge mortgage underlet or otherwise deal with or part with possession of the Vehicle/Goods or any interest therein including giving an option to purchase the Vehicle/Goods or the benefit of the Hire Purchase Agreement.

g) Not to use or suffer the Vehicle/Goods to be used contrary to any law or regulation by reason of which the Vehicle/Goods may become liable to confiscation or forfeiture and to obtain all necessary licenses permits and permissions for the use of the Vehicle/Goods.

h) Not to use or permit the Vehicle/Goods to be used or suffer knowingly or otherwise to be used the Vehicle/Goods without there being in force in relation to its user by the Hirer or other person, a policy of insurance against third party risks.

i) Not to use or permit or suffer the Vehicle to be used by any person without a valid Vehicle driver’s or operator's licence (if applicable) or any other necessary documents required by the authorities without the prior written approval of the insurers of the Vehicle and the Owner.

j) Not to remove the Vehicle/Goods from Brunei Darussalam territory without the prior written approval of the Owner.

k) To keep the Vehicle/Goods in good serviceable repair and condition and replace all missing and damaged or broken parts with parts of equal quality and value and in default of so doing, to forthwith at the request of the Owner, deliver the Vehicle/Goods to the Owner at a place determined by the Owner for the purpose of having repairs carried out and repay to the Owner the full costs of such repairs forthwith upon demand. The Owner shall have lien on the Vehicle/Goods until such payment but the exercise of such lien shall not prevent the accrual of rentals and any sums hereunder nor relieve the Hirer from the obligation to pay the rentals to the Owner hereunder.

l) To indemnify the Owner against all loss or damage to the Vehicle/Goods or any part thereof from any cause whatsoever whether or not such loss or damage is caused by the negligence or fault on the part of the Hirer.

m) To repay to the Owner forthwith on demand all expenses costs and charges whatsoever incurred by or on behalf of the Owner in ascertaining the Hirer's address or in recovering possession of the Vehicle/Goods or in inspecting or examining the condition of the Vehicle/Goods.

n) Immediately after the signing of the Hire Purchase Agreement to insure the Vehicle/Goods and keep the same insured during the continuance of the hiring against loss or damage by malicious act riot accident fire theft adverse weather and such other risks as the Owner may require to the full replacement value thereof with an insurance company approved by the Owner under a comprehensive policy of insurance ("the policy") in the respective names of the Owner and the Hirer and the policy shall bear an indorsement recording the Owner's interest in the Vehicle/Goods and stating that no payment is to be made to the Hirer under the policy until the Owner's interest has been discharged and in default of the Hirer so doing the Owner may insure the Vehicle/Goods as aforesaid OR the Owner may, at the Owner’s sole discretion, automatically renew the policy upon its expiry and recover the cost thereof including any unpaid premiums from the Hirer forthwith upon demand with interest thereon at the rate of 1.25% per month to the date of full payment.

o) To punctually pay all premiums payable under the policy and produce the receipts of such payments to the Owner on demand and do everything necessary to maintain the policy in full effect and not to do any act or thing which may invalidate or vitiate the policy.

p) The Hirer hereby irrevocably appoints the Owner or his agent(s) for the purpose of receiving all monies payable under the policy (which monies shall be applied as provided in clause 12 hereof) and of giving any effectual releases and discharge therefor. The Owner may make, institute proceedings or compromise in the Hirer's or the Owner's respective names any claim for loss or damage in respect of any monies payable under the policy and/or relating to the Vehicle/Goods.

q) That in the event of any damage to the Vehicle/Goods, the Hirer shall forthwith and before incurring any costs or expense in connection with the repair thereof notify the Owner who shall be entitled (but not bound) to have the Vehicle/Goods repaired by repairers selected or approved by the Owner.

r) To punctually pay for all works or repairs done to the Vehicle/Goods including the costs of any spare parts and accessories.

s) That any accessories and replacement parts installed on the Vehicle/Goods shall be deemed to be the property of the Owner.

t) To notify the Owner immediately in writing of any change in the Hirer's address and upon request by the Owner forthwith inform the Owner of the location of the Vehicle/Goods.

u) To keep the Vehicle/Goods free from any distress execution or any other legal process.

The Hirer further agrees :-

a) That in the event of the Owner repossessing the Vehicle/Goods, the Owner shall not be liable for any loss or damage to any property or articles left in the Vehicle/Goods. Any property or article found by the Owner in the Vehicle/Goods in such event may be collected by the Hirer within one month of the Owner's notice to the Hirer of its intention to sell such property or article and the same may be sold by the Owner after such period. The net proceeds less all the costs and expenses of such sale shall be credited to the Hirer's account.

b) That, subject to the Owner having given the Hirer a Fourteen (14) day prior written notice of intention to repossess the Vehicle/Goods (“Repossession Notice”) pursuant to Section 15 of the Hire-Purchase Order, the Owner and anyone authorised by it may enter on any premises where the Vehicle/Goods is located or believed to be located for the purposes of serving any notice or legal process in enforcing the rights of the Owner in the Hire Purchase Agreement, including the right to repossession of the Vehicle/Goods.

c) Upon the Owner becoming entitled to immediate possession of the Vehicle/Goods, to deliver up possession of the Vehicle/Goods forthwith on demand by the Owner.

d) The Hirer may, subject to the provisions of clause 6 herein and Section 14 of the Hire Purchase Order, at any time before final payment hereunder falls due determine the Hire Purchase Agreement by giving notice in writing to the Owner and delivering up the Vehicle/Goods to the Owner at such address as the Owner may specify at the Hirer's risk and expense (together with the registration documents, licences, the policy its certificate and other documents etc where applicable) at the Hirer's own cost. The Hirer undertakes to execute, sign all such documents and take all necessary steps as the Owner may require for the purposes of changing any particulars of the said documents etc.

If the Hirer shall make default in payment of any of the sums payable hereunder or shall fail to observe or perform any of the other terms and conditions of the Hire Purchase Agreement whether express or implied or if the Owner shall on any reasonable ground consider itself insecure, the Owner may, without prejudice to any pre-existing liability of the Hirer to the Owner, by giving the Repossession Notice as prescribed in the Fifth Schedule of the Hire-Purchase Order or in the case where the Owner has reasonable grounds to believe that the Vehicle/Goods will be removed or concealed by the Hirer, then without notice, repossess the Vehicle/Goods and/or by notice in writing to the Hirer determine the Hire Purchase Agreement and thereupon the Hire Purchase Agreement and the hiring thereby constituted shall for all purposes determine and thereafter the Hirer shall no longer be in possession of the Vehicle/Goods with the Owner's consent and subject to the provisions of clause 6 hereof and any pre-existing liabilities of the Hirer hereunder, neither party shall have any rights against the other. This entire Clause 5 shall be read subject to Sections 15 to 19 of the Hire-Purchase Order.

6.1 Upon the termination of the Hire Purchase Agreement pursuant to clause 4 or 5 or any other provisions hereunder, the Owner may upon giving to the Hirer the Repossession Notice as prescribed in the Fifth Schedule of the Hire-Purchase Order or in the case where the Owner has reasonable grounds to believe that the Vehicle/Goods will be removed or concealed by the Hirer, then without notice, retake possession of the Vehicle/Goods and for that purpose by itself its servants or agents enter upon any land or premises on or in which the Vehicle/Goods is or is believed by the Owner to be situated and the Hirer shall upon such termination return to the Owner all registration documents and certificates policy and certificates of insurance and licenses relating to the Vehicle/Goods (where applicable) and shall forthwith pay to the Owner the aggregate of:-

a) the Total Amount Payable; and
b) any interest on overdue rentals and other sums (other than rentals) payable in the Hire Purchase Agreement as at the date of termination, less the following sums of:
i) the Statutory Rebates for the Term Charges and insurance as allowed under the Hire-Purchase Order;
ii) all sums previously paid by Hirer under the Hire Purchase Agreement (including the Deposit);
iii) the "net value of the Vehicle/Goods" as at the time of repossession,

PROVIDED ALWAYS THAT the Owner is not entitled to recover any sum in excess of the limit specified in Section 17(2) of the Hire-Purchase Order.

6.2 For the purposes of this clause, "the net value of the Vehicle/Goods" shall mean the best price for the Vehicle/Goods that could be reasonably obtained by the Owner at that time or if the Hirer has introduced a person who has bought the Vehicle/Goods for cash, the amount paid by that person, LESS (i) the costs and expenses incurred by the Owner of or incidental to the repossession of the Vehicle/Goods; (ii) the amount properly expended by the Owner on the storage, repair or maintenance of the Vehicle/Goods; and (iii) (whether or not the Vehicle/Goods has subsequently been sold or disposed of by the Owner) the reasonable expenses of selling or otherwise disposing of the Vehicle/Goods.

6.3 Within fourteen (14) days after the Owner has taken possession of the Vehicle/Goods, the Owner shall serve on the Hirer and every guarantor of the Hirer, a written notice to the Hirer setting out the rights of the Hirer to reinstate the Hire Purchase Agreement if the Hirer wishes to do so pursuant to the form set out in the Sixth Schedule of the Hire-Purchase Order (“Notice to Hirer”). When the Owner takes possession of the Vehicle/Goods, the Owner shall deliver to the Hirer personally a document acknowledging receipt of the Vehicle/Goods or if the Hirer is not present at that time, the Owner shall send to the Hirer immediately after taking possession of the Vehicle/Goods, a document acknowledging receipt of the Vehicle/Goods.

6.4 The Hirer may within fourteen (14) days after the service on the Hirer of the Notice To Hirer, give to the Owner a notice signed by the Hirer or the Hirer's agent to either:- (i) require the Owner to redeliver to or to the order of the Hirer the Vehicle/Goods that has been respossessed subject always to the Hirer having made the necessary payments to the Owner in compliance with the terms of the Notice to Hirer pursuant to Section 18 of the Hire-Purchase Order; or (ii) require the Owner to sell the Vehicle/Goods to any person introduced by the Hirer who is prepared to buy the Vehicle/Goods for cash at the price not less than the estimated value of the Vehicle/Goods as specified in the Notice To Hirer.

6.5 This entire Clause 6 shall be read subject to the provisions of the Hire-Purchase Order including without limitation, Sections 15 to 19 of the Hire-Purchase Order.

The Hirer shall pay to the Owner on demand all costs, expenses and legal cost (including costs on a solicitor/client and party and party basis) on a full indemnity basis incurred by or on behalf of the Owner in enforcing its rights in the Hire Purchase Agreement including but not limited to the costs of any legal proceedings, storage charges, repossession fees and costs of any investigation in determining the location of the Vehicle/Goods.

It is hereby agreed and declared:

a) That all warranties and representations relating to the age condition quality suitability merchantability or fitness of the Vehicle/Goods for any purpose for which the Vehicle/Goods is or may be acquired whether express or implied arising under the Hire Purchase Agreement including any oral or written statements made by or on behalf of the Owner or any person prior to the Agreement are, to the extent permitted by law, hereby expressly excluded.

b) That the Hirer has examined the Vehicle/Goods and accepts it to be free from any defects whatsoever.

No relaxation, forbearance, delay or indulgence by the Owner in enforcing any of the terms and conditions of the Hire Purchase Agreement nor the granting of time by the Owner to the Hirer shall prejudice, affect or restrict the rights and powers of the Owner hereunder nor shall the waiver of any breach on the part of the Hirer operate as a waiver of any subsequent breach thereof.

In the Hire Purchase Agreement words in the singular shall include the plural and masculine pronouns shall include the feminine and neuter and vice versa. In the event of any inconsistency between the English version and Bahasa Melayu version of the Hire Purchase Agreement, the English version shall prevail.

Where the Vehicle/Goods is lost, stolen, destroyed or damaged by the negligence or wrongful act of a third party, the Hirer shall immediately notify the Owner thereof and shall not compromise any claim without the consent of the Owner and shall allow the Owner to take over the conduct of any negotiations (except in relation to claims of the Hirer for personal injuries loss of use of the Vehicle/Goods or loss of or damage to the property of the Hirer unconnected with the Vehicle/Goods) and shall at his own expense take such proceedings (in the Hirer's sole name) as the Owner shall direct, holding all sums recovered (together with any monies received by the Hirer under any policy of insurance taken out by the Hirer pursuant to the provisions of the Hire Purchase Agreement) on trust for the Owner and paying or applying as the Owner may direct all or any such part thereof as is necessary to discharge the Hirer's liability to the Owner at the date of such payment and to compensate the Owner for the loss theft or destruction of or damage to the Vehicle/Goods any surplus being retainable by the Hirer for his own benefit.

i) If the Vehicle/Goods shall be damaged during the currency of the hiring and in the opinion of the insurers it is economic that such damage be made good, all insurance monies payable under the policy shall be applied in making good the said damage.
ii) If the Vehicle/Goods shall be lost, stolen, destroyed or damaged to such an extent as to be in the opinion of the insurers incapable of economic repair, the insurance monies payable under the said policy shall be applied in the order following, that is to say:

a) in paying to the Owner the unpaid balance of the hire purchase price together with any interest and other sums payable by the Hirer in the Hire Purchase Agreement; and

b) in paying any surplus to the Hirer.
If after payment of the said insurance monies to the Owner under the policy, any part of the Balance Originally Payable and interest or other monies payable hereunder remains unpaid, the same shall forthwith become payable by the Hirer. Subject as aforesaid, the loss theft or destruction of or damage to the Vehicle/Goods shall not discharge the Hire Purchase Agreement or affect the Hirer's liability for payment of any Balance Originally Payable interest and other sums due and payable to the Owner hereunder.

If the Hirer (having meanwhile duly observed and performed all the terms and conditions, of the Hire Purchase Agreement whether express or implied) shall pay to the Owner all sums payable under the Hire Purchase Agreement including all rentals as shall with the sum paid for the option to purchase amounting in the aggregate to the Balance Originally Payable and any costs charges expenses and interest hereunder, the hiring thereby constituted shall determine and the Hirer shall become the absolute owner of the Vehicle/Goods but until such time the Vehicle/Goods shall remain the sole property of the Owner and the Hirer shall be a mere bailee thereof and shall not represent or hold himself out to be the owner of the Vehicle/Goods PROVIDED that the Hirer shall be at liberty to accelerate payments under the Hire Purchase Agreement and in the event of his paying before the due date such sum or sums as may be necessary to vest the ownership of the Vehicle/Goods in him pursuant to Section 13 of the Hire-Purchase Order, the Hirer shall be granted the statutory rebates under the Hire-Purchase Order.

All assignment or transfer of the Hirer's rights under the Hire Purchase Agreement shall be subject to the Owner's prior written consent which consent shall not be unreasonably withheld. The consent of the Owner if granted may be made subject to such terms and conditions as are permitted to be imposed under Section 11 of the Hire-Purchase Order. In the event that the Hirer assigns or transfers the Hirer's rights title and interest under the Hire Purchase Agreement to a third party or executes an assignment in favour of third party in respect of the Hirer's rights title and interest under the Hire Purchase Agreement, the Assignor shall notwithstanding such assignment, transfer or execution of assignment, continue to be liable to the Owner under the Hire Purchase Agreement. Without limiting the generality of the above, the Hirer's continuing liability under the Hire Purchase Agreement shall not be affected nor shall the Owner's rights remedies or recourse against the Hirer be in any way prejudiced or affected by any of the following matters :-

a) the provisions of the aforesaid assignment so executed by the Hirer:

b) the Owner's consent to such aforesaid assignment:

c) any dealing by the Owner with the Hirer whether with or without the consent of or notice to the Hirer including without limiting the generality of the foregoing, any time or other indulgence granted to the Hirer, any variation or novation of the Hire Purchase Agreement between the Owner and the Hirer, any consent given to the Hirer as to the place of keeping the Vehicle/Goods or as to the Hirer's assignment of his rights (whether or not the continuing liability of the Hirer to the Owner be preserved) or otherwise Provided only that the Hirer shall not by reason of any dealings or agreement between the Owner and the Hirer, have his liability to the Owner increased beyond what it would be if there had been no such assignment.

It is further agreed and declared :

a) that the terms and conditions contained in the Hire Purchase Agreement in favour of the Owner shall be in addition to and not in substitution for the terms and conditions implied in favour of the Owner under a hire purchase agreement at common law except insofar as such implied terms and conditions are inconsistent with the terms and conditions of the Hire Purchase Agreement;

b) that, subject always to Section 7 of the Hire-Purchase Order, the Owner shall not incur any liability to the Hirer nor shall the Hirer be entitled to rescind the Hire Purchase Agreement if the Vehicle delivered to the Hirer does not correspond to its description as contained in the Hire Purchase Agreement; an

c) that, to the extent permitted by law, no liability shall attach to the Owner either in contract or in tort for loss injury or damage sustained by reason of any defect in the Vehicle/Goods whether such defect be latent or apparent on examination and the Owner shall not be liable to indemnify the Hirer in any way in respect of any claims made against the Hirer by a third party for any such loss, injury or damage.

The Hire Purchase Agreement shall not commence unless and until it has been signed by or on behalf of the Owner and the Hirer has paid the Deposit.

The Owner is hereby is irrevocably authorised by the Hirer to disclose any personal or other information whatsoever regarding the Hirer, any information regarding the status and balances of the Hirer's accounts, the outstanding balance of the Total Amount Payable, the particulars stated in the Schedule and any information relating to or in connection with the depositor's account, to any or all of the following:-

a) any person participating in the provision of services to the Owner (including, but not limited to, debt collection, legal, accounting, auditing, printing or mailing [of cheque book, passbook, stationery or other documents], management, repossession, insurance, delivery, electronic and investigation services) whether in Brunei Darussalam or outside Brunei Darussalam, under or in connection with the Hire Purchase Agreement or the enforcement thereof;

b) the police or other public officers conducting an investigation in connection with any offence or suspected offence;

c) the Brunei Association of Banks, other banks, finance companies, financial institutions or insurance credit or charge card companies;

d) the Ministry of Finance or any other person, entity or authority, having jurisdiction over the Owner, any court of law, in Brunei Darussalam or elsewhere, for any purpose whatsoever;

e) any insurer, guarantor or provider of security in relation to the Hirer or any account(s), or the auditor of the Hirer or any member, partner, director or shareholder of the Hirer;

f) any company body or authority or party to whom the Owner is associated with (including the Owner's parent or holding company, subsidiaries or associated or related companies, Baiduri Bank Berhad), the Owner's head office, branches, represen¬tative offices, in Brunei Darussalam or overseas, for any purpose or purposes whatsoever;

g) any association or body of which the Owner is a member;

h) the Land Transport Department, the Port Authority of Brunei Darussalam or the Marine Department or any other relevant authority(ies) having control and/or power in the licensing, use and/or operation of the Vehicle.

The Hirer hereby irrevocably consents to the above disclosure of information and confirms that the Owner shall be under no liability for disclosing or furnishing such information whether before, on or after the date of the Hire Purchase Agreement.
These general terms and conditions constitute part of the Hire Purchase Agreement and the Hirer hereby confirms and agrees that the Hirer has read and understood these terms and conditions and shall be bound by these terms and conditions stated herein.

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