Speaking from what I think and will be going through next week, the transfer at JPJ is to the bank as the hire purchase rightful owner will be the bank.

Bank will release the fund right after the completion of name transfer.

You will need to bring the B5 and B7 Puspakom result together when visiting JPJ as the owner and the buyer to do the name transfer.

Hi I am recently selling my used car which I already have finished paying and have the geran with me. I'm selling privately to another buyer which is taking a hire purchase loan but he does it through a dealer which helps him apply the hire purchase with the bank.

Recently, he has gotten his approval and has sent me a picture of the letter of undertaking that the bank has issued to his dealer. I need to ask what is the correct measures needed to be taken from here.

1. Take car to Puspakom to get B5 & B7.
2. Do I now proceed to cancel my insurance and bring the car to JPJ for ownership transfer?

This is where I am very cautious. I do not want to do any transfers until I have been given the money for the car purchase. Does the transfer come first or the money first? Does the bank disburse the money to the dealer which then transfers the money to me? This doesn't seem very trustworthy as the dealer can run away with the money after we transfer the car even if the buyer is genuine.

So far, neither the bank or the dealer has called me up, I am worried that I will get cheated.

Really appreciate your advise guys.