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TSunemployed
post Jun 6 2011, 01:15 PM, updated 9y ago

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Whats the procedure of buying a car?

What i know is

1. booking
2. SA help to apply for loan


When do we pay for downpayment ?
when to sign the Hire Purchase Agreement?
What to check before pay for DP ?
What details to check before sign the HP agreement?
How and when i can check the chassis no and the engine no?

What is LOU? Letter of Undertaking?
Do you crossed your copies of your IC when giving to SA to apply loan? How did we cross it?

Please Help please!



kenji1903
post Jun 6 2011, 01:25 PM

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for my case...
1. find an SA
2. go to showroom, meet up, ask for discounts and promo
3. everything ok, pay partial/full downpayment (i paid partial)
4. give 3 months payslip and photocopy IC (ask SA to strike)
5. bank will contact you and do verification, a lot of questions...
6. few days later, bank will call saying loan approved/not
7. SA will call to notify you on your allocation and tentative delivery date
8. choose a number plate
9. SA will give you your loan docs to sign, pay remaining downpayment if not, give 2nd driver for insurance if needed
10. wait for car...

This post has been edited by kenji1903: Jun 6 2011, 01:27 PM
qwertyuioped
post Jun 6 2011, 01:36 PM

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sry TS,tumpang ur thread....what if people pay in full cash?

This post has been edited by qwertyuioped: Jun 6 2011, 01:36 PM
TSunemployed
post Jun 6 2011, 03:39 PM

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QUOTE(kenji1903 @ Jun 6 2011, 01:25 PM)
for my case...
1. find an SA
2. go to showroom, meet up, ask for discounts and promo
3. everything ok, pay partial/full downpayment (i paid partial)
4. give 3 months payslip and photocopy IC (ask SA to strike)
5. bank will contact you and do verification, a lot of questions...
6. few days later, bank will call saying loan approved/not
7. SA will call to notify you on your allocation and tentative delivery date
8. choose a number plate
9. SA will give you your loan docs to sign, pay remaining downpayment if not, give 2nd driver for insurance if needed
10. wait for car...
*
why paying dp so early?

I heard ppl paying DP when the car chassis no and engine no is ready and sign HP, proceed to registeration.
kenji1903
post Jun 6 2011, 03:45 PM

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QUOTE(unemployed @ Jun 6 2011, 03:39 PM)
why paying dp so early?

I heard ppl paying DP when the car chassis no and engine no is ready and sign HP, proceed to registeration.
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your going to pay anyway... so doesn't matter earlier or later... unless you don't trust the SA and the car company tongue.gif
overfloe
post Jun 6 2011, 03:55 PM

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1. Book
2. Apply loan
3. If loan approved, sign doc etc
4. Pay d/p
4a. You may give your number plate doc if you buy your own
5. Wait for car & registration at JPJ
6. After registration complete, check condition before sign doc
7. If car is ok, sign doc, key handover etc.
8. Drive home

only pay d/p after your loan has been approved. otherwise, SA might give a lot of excuses to give back ur money if loan not approved.
TSunemployed
post Jun 6 2011, 04:08 PM

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QUOTE(overfloe @ Jun 6 2011, 03:55 PM)
1. Book
2. Apply loan
3. If loan approved, sign doc etc
4. Pay d/p
4a. You may give your number plate doc if you buy your own
5. Wait for car & registration at JPJ
6. After registration complete, check condition before sign doc
7. If car is ok, sign doc, key handover etc.
8. Drive home

only pay d/p after your loan has been approved. otherwise, SA might give a lot of excuses to give back ur money if loan not approved.
*
What doc to sign after registeration completed? Order Delivery form is it?

If SA say chassis no and engine no is ready, then only we go sign the HP agreement by checking the chassis no and engine no match in the HP document right?

rockets
post Jun 6 2011, 04:30 PM

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1. go to showroom
2. talk cock with SA and testdrive
3. get discount/freebies and estimated delivery date(at this point not happy just leave)
4. pay booking fees and make sure it's refundable
5a. go home and ready all necessary documents for loan application
5b. determine your deposit
5c. apply loan, you can do it yourself or have your SA do it for you
6. wait a few days for loan to approve(let your SA know if you're approved if you're DYI)
7. wait for car to arrive
8. sign the loan agreement and pay off the remaining deposit
9. apply for car reg no, can do it yourself or through your SA but he'll makan abit
10. once the cheque for your deposit clears you can take your car
11. drive like bat outta hell
overfloe
post Jun 6 2011, 04:30 PM

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QUOTE(unemployed @ Jun 6 2011, 05:08 PM)
What doc to sign after registeration completed? Order Delivery form is it?
Can't remember.. maybe delivery order.

QUOTE
If SA say chassis no and engine no is ready, then only we go sign the HP agreement by checking the chassis no and engine no match in the HP document right?
*
To be safe, yes. Practical if the car is ready stock. But, if there is a waiting period (car needs to be ordered), normally the bank will ask to sign even before the chassis number is written on the documents. They want the deal to be sealed ma... You may do this to 'lock' the interest rate, provided if its going up later. You can double check the chassis no in the final agreement sent via pos.

for a new car bought from authorized dealer, it is quite safe to sign even before the chassis number is given.. for 2nd hand, you need to be careful with shady seller.

jooku1
post Jun 6 2011, 06:02 PM

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tumpang thread...

What about transferring NCB/NCD from previous car (that I'm still keeping)?
When do we do that? And who does it?

Thanks
BuFung
post Jun 6 2011, 06:05 PM

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QUOTE(jooku1 @ Jun 6 2011, 06:02 PM)
tumpang thread...

What about transferring NCB/NCD from previous car (that I'm still keeping)?
When do we do that? And who does it?

Thanks
*
buy new insurance for the old car....

buy insurance for the new car using old policy....
jooku1
post Jun 6 2011, 06:11 PM

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QUOTE(BuFung @ Jun 6 2011, 06:05 PM)
buy new insurance for the old car.... 

buy insurance for the new car using old policy....
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So can SA do all this for us? Or we need to do ourselves?
BuFung
post Jun 6 2011, 06:12 PM

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QUOTE(jooku1 @ Jun 6 2011, 06:11 PM)
So can SA do all this for us? Or we need to do ourselves?
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they can do it for u... just $..
jooku1
post Jun 6 2011, 06:41 PM

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QUOTE(BuFung @ Jun 6 2011, 06:12 PM)
they can do it for u...  just $..
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u mean we need to pay them some more???
Already getting fat commission from insurance company lor whistling.gif
nicotyne
post Nov 5 2012, 10:16 PM

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QUOTE(rockets @ Jun 6 2011, 04:30 PM)
1. go to showroom
2. talk cock with SA and testdrive
3. get discount/freebies and estimated delivery date(at this point not happy just leave)
4. pay booking fees and make sure it's refundable
5a. go home and ready all necessary documents for loan application
5b. determine your deposit
5c. apply loan, you can do it yourself or have your SA do it for you
6. wait a few days for loan to approve(let your SA know if you're approved if you're DYI)
7. wait for car to arrive
8. sign the loan agreement and pay off the remaining deposit
9. apply for car reg no, can do it yourself or through your SA but he'll makan abit
10. once the cheque for your deposit clears you can take your car
11. drive like bat outta hell
*
wait for car to arrive: what is the proof that we need to check to ensure that the car has arrived before we sign the loan agreement?
owenwong84
post Nov 5 2012, 10:58 PM

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1. Booking fees & sign Purchase order form.
2. Provide necessary documents to apply loan
3. Loan approved, pay downpayment.
4. Inform your favourite car registration number.
5. Sign loan agreement before car deliver.
6. SA will bring your car to inspection, registration, apply insurance.
6. Car deliver to customer.

If pay by cash, skip it to downpayment and no need to sign loan agreement.


Added on November 5, 2012, 11:09 pm
QUOTE(unemployed @ Jun 6 2011, 04:08 PM)
What doc to sign after registeration completed? Order Delivery form is it?

If SA say chassis no and engine no is ready, then only we go sign the HP agreement by checking the chassis no and engine no match in the HP document right?
*
Loan agreement and Deliver order is different. Chassis no and engine no not match don't sign the DO.

QUOTE(jooku1 @ Jun 6 2011, 06:02 PM)
tumpang thread...

What about transferring NCB/NCD from previous car (that I'm still keeping)?
When do we do that? And who does it?

Thanks
*
You can do it during your purchase new or after your purchase.
For new purchase, it can be deducted from your downpayment.
After purchase, you will receive a refund loh by cheque.

You request your insurance agent to do it for you. Cancellation is you sell your old car. Withdrawal is you maintain your old car. Both can be transferred to new car.




This post has been edited by owenwong84: Nov 5 2012, 11:09 PM
yiyonglee
post Jun 28 2013, 01:39 PM

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what about those doing 100% loan? same procedure?
junsyern
post Jun 29 2013, 07:50 PM

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how long does it take normally after paying all the upfront?
mycolumn
post Nov 23 2017, 03:57 PM

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parking. need to refer to this thread.
Ginny88
post Nov 23 2017, 04:45 PM

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QUOTE(owenwong84 @ Nov 5 2012, 10:58 PM)
1. Booking fees & sign Purchase order form.
2. Provide necessary documents to apply loan
3. Loan approved, pay downpayment.
4. Inform your favourite car registration number.
5. Sign loan agreement before car deliver.
6. SA will bring your car to inspection, registration, apply insurance.
6. Car deliver to customer.

If pay by cash, skip it to downpayment and no need to sign loan agreement.

*
Sign loan agreement no need to pay down payment. You only pay the down payment to the dealer when your car is ready to collect. After collecting your down payment the dealer will proceed to register the car with JPJ in your name.
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
*
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...
*
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
*
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
xeon1989
post Jul 13 2018, 05:27 AM

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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
*
QUOTE(terrence_my @ Jun 15 2018, 09:51 PM)
Why it is not good at credit rating? can you elaborate more?
*
Want to know also.
Submit application to a few banks at once will affect rating one? why?
In this case if I want to compare interest rate will gg lor?

This post has been edited by xeon1989: Jul 13 2018, 05:28 AM
ZeneticX
post Jul 13 2018, 10:12 AM

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QUOTE(xeon1989 @ Jul 13 2018, 05:27 AM)
Want to know also.
Submit application to a few banks at once will affect rating one? why?
In this case if I want to compare interest rate will gg lor?
*
there used to be a link to an article but i can't seem to find it right now

but basically, if you apply loan to a few banks at once, its an indicator of someone desperate for money as banks will need to "pull" your record from CCRIS, every request from the bank will impact your score
xeon1989
post Jul 14 2018, 05:06 AM

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QUOTE(ZeneticX @ Jul 13 2018, 10:12 AM)
there used to be a link to an article but i can't seem to find it right now

but basically, if you apply loan to a few banks at once, its an indicator of someone desperate for money as banks will need to "pull" your record from CCRIS, every request from the bank will impact your score
*
ok, didn't expect this.
Maybe I can also confirm with my agent.
terrence_my
post Jul 14 2018, 01:20 PM

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QUOTE(xeon1989 @ Jul 14 2018, 05:06 AM)
ok, didn't expect this.
Maybe I can also confirm with my agent.
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I read through some. CCRIS will have your records for every loan (personal, mortgage and hire purchase) when you submitted application. Regardless it is approved or not and you accept or not, it shows that you are behaving in a way that "need money" so it will lower your score for a period.

The loan application records will stay with you for 12 months.
mushigen
post Jul 14 2018, 01:32 PM

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QUOTE(terrence_my @ Jul 14 2018, 01:20 PM)
I read through some. CCRIS will have your records for every loan (personal, mortgage and hire purchase) when you submitted application. Regardless it is approved or not and you accept or not, it shows that you are behaving in a way that "need money" so it will lower your score for a period.

The loan application records will stay with you for 12 months.
*
To a layman like me, for personal loans, it makes sense.

For car loans, it does not make sense as cars are big ticket items where paying in full is not common. In most cases, taking a loan and investing the rest of the money which you could have used to buy the car in cash makes more financial sense.
ZeneticX
post Jul 14 2018, 03:06 PM

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QUOTE(xeon1989 @ Jul 14 2018, 05:06 AM)
ok, didn't expect this.
Maybe I can also confirm with my agent.
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instead of asking your sales agent maybe asking someone from the banking side would be better, like your loan agent if you planning to apply yourself
xeon1989
post Jul 15 2018, 11:43 AM

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QUOTE(ZeneticX @ Jul 14 2018, 03:06 PM)
instead of asking your sales agent maybe asking someone from the banking side would be better, like your loan agent if you planning to apply yourself
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True, will do so.
vvip
post Aug 5 2018, 11:30 PM

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is it a must to collect the new car on the same day salesman call?
voncrane
post Aug 6 2018, 01:29 PM

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QUOTE(vvip @ Aug 5 2018, 11:30 PM)
is it a must to collect the new car on the same day salesman call?
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No!
ic3kacang
post Sep 3 2018, 04:17 PM

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is there by any chance that the SA will just sell me a showroom car without me knowing?
voncrane
post Sep 4 2018, 07:03 AM

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QUOTE(ic3kacang @ Sep 3 2018, 04:17 PM)
is there by any chance that the SA will just sell me a showroom car without me knowing?
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Yes.. Chance is very high if one dealt with an unethical salesman. I would know, been there. Don't always trust what they say. There are those who would blatantly lie or misrepresent a vehicle despite you strictly telling you do not want a display vehicle. All to close the sale. Worse than unscrupulous roadside used car salesmen.
JakkReaper
post Nov 20 2018, 10:39 PM

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QUOTE(voncrane @ Sep 4 2018, 07:03 AM)
Yes.. Chance is very high if one dealt with an unethical salesman. I would know, been there. Don't always trust what they say. There are those who would blatantly lie or misrepresent a vehicle despite you strictly telling you do not want a display vehicle. All to close the sale. Worse than unscrupulous roadside used car salesmen.
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How to ensure one don't get display car then?

Also, can I apply for loan without 3 mths payslip?
voncrane
post Nov 20 2018, 10:59 PM

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QUOTE(JakkReaper @ Nov 20 2018, 10:39 PM)
How to ensure one don't get display car then?

Also, can I apply for loan without 3 mths payslip?
*
If you are one easily pleased and won't bother about such.. Then it's better not to bother and not know.. Just continue living in lala land. Else, check everything.. VIN, Tags, look for scratches or wear and tear that shouldn't be there on a new vehicle.. Ask for delivery or factory release docs, etc.. Up to you to know how much fuss you want to put up.. of course, be polite about it, don't be that a$$hole and watch out for signs of deception. Once the SA says he/she doesn't know this or that about the car's origins (things they should know), one too many times? I'd bounce. You can't walk into a showroom and walk out without paying for a car and getting documents.. Similarly, they must have paper trail of the car in question. These are things I know now to do, that I didn't do earlier cuz I trusted too much.. Next time, it's my cash, my rules..

Yes, there are other ways.. but based on your financial profile and the bank. You are not limited to only applying to one bank or through the SA for a loan. You can shop around yourself and try to score a better rate. Going with the SA's suggestions or they run for you, is just to make it more convenient for you..is all.

This post has been edited by voncrane: Nov 20 2018, 11:02 PM
toneking
post Jan 12 2019, 12:11 AM

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Is there another 'agreement' (not booking one) to sign with SA stating that you now confirmed that you are buying a car of which model/color with how much down payment & loan amount before the SA apply car loan with bank(s)?
Because that is what I heard from my parents who bought 4 cars before this
But the latest car they bought was 7 years ago
Wondering if this procedure has changed? As the SA never do this for me
crusher
post May 18 2019, 02:16 PM

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Joined: Jun 2006


Hi guys,

Done got my loan application approve.

Just receive the SMS notification from Proton saying the booking request got on the same day.

Banker and car seller asked me sign the loan agreemrnt first before the car arrive.

Is it safe to do so? I scare if sign already car dont know when only arrive..
Archemedia
post May 18 2019, 08:47 PM

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QUOTE(crusher @ May 18 2019, 02:16 PM)
Hi guys,

Done got my loan application approve.

Just receive the SMS notification from Proton saying the booking request got on the same day.

Banker and car seller asked me sign the loan agreemrnt first before the car arrive.

Is it safe to do so? I scare if sign already car dont know when only arrive..
*
Why scared? the car belongs to the bank now... the bank should worry more
voncrane
post May 18 2019, 11:14 PM

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Joined: Oct 2011
From: Wakanda


QUOTE(crusher @ May 18 2019, 02:16 PM)
Hi guys,

Done got my loan application approve.

Just receive the SMS notification from Proton saying the booking request got on the same day.

Banker and car seller asked me sign the loan agreemrnt first before the car arrive.

Is it safe to do so? I scare if sign already car dont know when only arrive..
*
While it's fairly "harmless".. I would not sign any such agreement without actually setting eyes on or at minimum a car waiting (at the branch/dealer) to be registered in your name. Just to be safe. Of course, this tactic depends on how sought after the car in question. Cuz, some sales agents will take those who've gotten loan approval more seriously than those that just placed a booking and refused to commit further.

QUOTE(Archemedia @ May 18 2019, 08:47 PM)
Why scared? the car belongs to the bank now... the bank should worry more
*
AFAIK, he should be scared.. He could be signing that he must begin loan repayments even without getting the car first. In most cases, yes the car belongs to the bank, but the loan belongs to you. The car is only a collateral in-case you aren't able to continue servicing the loan. This only works if the car is worth more than the loan balance, should any issues occur. Else, must topup the difference to the bank.
crusher
post May 19 2019, 10:36 PM

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QUOTE(Archemedia @ May 18 2019, 08:47 PM)
Why scared? the car belongs to the bank now... the bank should worry more
*
Just being careful and understand better how it works.

QUOTE(voncrane @ May 18 2019, 11:14 PM)
While it's fairly "harmless".. I would not sign any such agreement without actually setting eyes on or at minimum a car waiting (at the branch/dealer) to be registered in your name. Just to be safe. Of course, this tactic depends on how sought after the car in question. Cuz, some sales agents will take those who've gotten loan approval more seriously than those that just placed a booking and refused to commit further.
AFAIK, he should be scared.. He could be signing that he must begin loan repayments even without getting the car first. In most cases, yes the car belongs to the bank, but the loan belongs to you. The car is only a collateral in-case you aren't able to continue servicing the loan. This only works if the car is worth more than the loan balance, should any issues occur. Else, must topup the difference to the bank.
*
Since I have received SMS from Proton itself, i think can verify with proton directly right
voncrane
post May 20 2019, 08:00 AM

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Joined: Oct 2011
From: Wakanda


QUOTE(crusher @ May 19 2019, 10:36 PM)
Just being careful and understand better how it works.
Since I have received SMS from Proton itself, i think can verify with proton directly right
*
Yes, you can verify from the branch you booked. A car is just a car.. Don't rush it, there's going to be stock today or next year biggrin.gif.. As with any items purchase, when one rushes into things, you tend to overlook stuff and open yourself to being cheated by a dishonest salesman. As long as you have a good financial record, banks will be willing to loan you money anytime. So take your time, double check all is good with the car before they plan to register it in your name. Then only agree. Most loan officers can come to your workplace to get your signature. They want your money after all..

This post has been edited by voncrane: May 20 2019, 08:01 AM
kogilah93 P
post Aug 31 2019, 12:08 PM

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hi , i have signed public bank car loan agreement on 2 july 2019. And i still not pay deposit because i have told to the car finance im in a hard situation and i need time to settle down and will come and pay the deposit , so he said alright no problem . My question is when will the car loan expire if i didnt pay the deposit ?
voncrane
post Aug 31 2019, 12:48 PM

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From: Wakanda


QUOTE(kogilah93 @ Aug 31 2019, 12:08 PM)
hi , i have signed public bank car loan agreement on 2 july 2019. And i still not pay deposit because i have told to the car finance im in a hard situation and i need time to settle down and will come and pay the deposit , so he said alright no problem . My question is when will  the car loan expire if i didnt pay the deposit ?
*
AFAIK, that loan offer would last for about 3 months. And as you've experienced.. You can back out of it. Return when you are ready again. Can reapply again with the same or different bank if the current offer has expired.
trapezohedron13
post Aug 31 2019, 11:32 PM

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QUOTE(toneking @ Jan 12 2019, 12:11 AM)
Is there another 'agreement' (not booking one) to sign with SA stating that you now confirmed that you are buying a car of which model/color with how much down payment & loan amount before the SA apply car loan with bank(s)?
Because that is what I heard from my parents who bought 4 cars before this
But the latest car they bought was 7 years ago
Wondering if this procedure has changed? As the SA never do this for me
*
You can request for a sales order with all the details such as price, insurance, reg fees etc before SA apply the loan. It would be the same details that the SA use to apply from banks

 

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