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> Buying Car procedure?

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anekuwa
post May 18 2018, 09:58 PM

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When they will issue tax invoice? Tax invoice date would based on completion of which step/stage?
artadi
post May 20 2018, 05:57 AM

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Hello guys,
I will trade in my old car for new car. I have checked with the bank for the early settlement amount and SA of new car evaluated my old car and inform me the car value. I found out that I still need to topup to settle my loan with the bank.

Questions:
1. Will used car dealer pay to me or to the bank?
2. Should I pay topup to the bank directly or to SA of new car?
3. After loan balance is settled, the ownership will be transferred to used car dealer? Is there a document I should receive to confirm tranfer of ownership?
4. What are the documents I need to get to ensure that loan with the bank is settled.
5. Is it okay to leave my old car with SA when I collected my new car?

Please share and advise if nyone experience this situation.

Thanks in advance.
terrence_my
post Jun 15 2018, 08:14 PM

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Hi guys, I am currently in a procedure on buying car, so my understanding in the procedure will be:

1) Go to Showroom and talk to SA
2) Submit doc to SA apply loan (multiple bank)
3) bank calls interview
4) bank offer loan after interview
5) sign Agreement
6) SA receives LOU and allocate stock
7) register Car plate
8) Sign HP loan doc, pay the rest of amount and get car

is this means that buyer can actually cancel the purchase before step 8, even buyer signed loan agreement at step 5?
ZeneticX
post Jun 15 2018, 09:01 PM

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One thing for new car buyers to take note, especially those applying loan through SA, make sure to clarify with your SA how they gonna apply for your loan

Some SA actually submit your application to a few banks at once, this will not be a good record on your credit rating and score

This post has been edited by ZeneticX: Jun 15 2018, 09:01 PM
terrence_my
post Jun 15 2018, 09:51 PM

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QUOTE(ZeneticX @ Jun 15 2018, 09:01 PM)
One thing for new car buyers to take note, especially those applying loan through SA, make sure to clarify with your SA how they gonna apply for your loan

Some SA actually submit your application to a few banks at once, this will not be a good record on your credit rating and score
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Why it is not good at credit rating? can you elaborate more?
kkkw80
post Jun 17 2018, 04:34 PM

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I submitted myself to 2 banks only and both approved
vvip
post Jul 10 2018, 09:59 AM

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Is it OK if just bank in booking fee to the showroom? Since done by bank in, no official receipt given to me...
mushigen
post Jul 10 2018, 01:22 PM

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QUOTE(vvip @ Jul 10 2018, 09:59 AM)
Is it OK if just bank in booking fee to the showroom? Since done by bank in, no official receipt given to me...
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One Honda SA told me the dealer will issue booking receipt upon receiving the banked in money. I didn't try it.
WaCKy-Angel
post Jul 10 2018, 01:24 PM

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QUOTE(vvip @ Jul 10 2018, 09:59 AM)
Is it OK if just bank in booking fee to the showroom? Since done by bank in, no official receipt given to me...
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booking receipt issued immediately as long as payment can be verified. nowadays got inter-bank immediate transfer just RM0.50 dont tell me u didnt use that option

QUOTE(mushigen @ Jul 10 2018, 01:22 PM)
One Honda SA told me the dealer will issue booking receipt upon receiving the banked in money. I didn't try it.
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mushigen
post Jul 10 2018, 01:25 PM

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QUOTE(WaCKy-Angel @ Jul 10 2018, 01:24 PM)
booking receipt issued immediately as long as payment can be verified. nowadays got inter-bank immediate transfer just RM0.50 dont tell me u didnt use that option
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Er, many banks have waived the 50sen.
WaCKy-Angel
post Jul 10 2018, 01:26 PM

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QUOTE(mushigen @ Jul 10 2018, 01:25 PM)
Er, many banks have waived the 50sen.
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some still have, but the point is receipt issued immediately
Rushy
post Jul 10 2018, 01:28 PM

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QUOTE(vvip @ Jul 10 2018, 09:59 AM)
Is it OK if just bank in booking fee to the showroom? Since done by bank in, no official receipt given to me...
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Your booking fee should be bank in to the company and not any personal account. Normally once they verify, they will will issue your receipt.

mushigen
post Jul 10 2018, 01:29 PM

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QUOTE(WaCKy-Angel @ Jul 10 2018, 01:26 PM)
some still have, but the point is receipt issued immediately
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Yup, the SA said will issue upon seeing the money. He will then whatsapp me the photo while waiting fir me to collect. I didnt book with him.
ZeneticX
post Jul 10 2018, 03:02 PM

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QUOTE(vvip @ Jul 10 2018, 09:59 AM)
Is it OK if just bank in booking fee to the showroom? Since done by bank in, no official receipt given to me...
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If no receipt at least ask for the VSO from your SA
vvip
post Jul 12 2018, 09:52 AM

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Loan approved, once signed the loan documents, does it mean I need to start paying for installment even though still waiting for the car? Currently the queue is kinda long since without gst
akira87
post Jul 12 2018, 10:51 AM

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QUOTE(vvip @ Jul 12 2018, 09:52 AM)
Loan approved, once signed the loan documents, does it mean I need to start paying for installment even though still waiting for the car? Currently the queue is kinda long since without gst
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I sign the loan documents last week, from what the bank officer told me, the monthly instalment will start within one month after the SA send the documents to the bank which includes a document that stated that we already received the car.
vvip
post Jul 12 2018, 11:07 AM

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QUOTE(akira87 @ Jul 12 2018, 10:51 AM)
I sign the loan documents last week, from what the bank officer told me, the monthly instalment will start within one month after the SA send the documents to the bank which includes a document that stated that we already received the car.
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Which means regardless how early u sign the loan agreement, u will only start paying for installment after u received the car, right?
akira87
post Jul 12 2018, 11:19 AM

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QUOTE(vvip @ Jul 12 2018, 11:07 AM)
Which means regardless how early u sign the loan agreement, u will only start paying for installment after u received the car, right?
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Yes, that is what i was told and understand.
vvip
post Jul 12 2018, 01:20 PM

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QUOTE(akira87 @ Jul 12 2018, 11:19 AM)
Yes, that is what i was told and understand.
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Make more sense to consumers in that way...
Thanks Akira
TanMing
post Jul 12 2018, 02:25 PM

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Testing

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