Just became a friend of a taxi driver about 3 months ago..he wanted to borrow RM25K from me because he wants to buy a kereta sambung bayar..I wonder why he buy that car rather than making a bank loan..I suspect he is blacklisted by bank..but is there any other possible reason why people buy kereta sambung bayar??

Never know what it is all about. I'm curious to know too.

Person A buys a wira with 5 year loan. After paying 2 years, he cannot afford it anymore... he gives to Person B to sambung bayar.

Person B continues paying the loan.(sambung bayar). Person A benefits because he doesnt default and get black listed, Person B benefits cos he doesnt need to put downpayment, and the car already paid 2 years out of the 5 year loan.

Its dangerous to do this because the car is STILL under Person A name. If Person B stops paying the loan after 6 months, bank will go after Person A

This post has been edited by jwrx: Mar 21 2015, 12:14 AM

i think he just want to borrow your rm25k with a lame excuse.

but person A will not ask for rm25k from person B. else person A is just selling his car to person B.

isnt there any legal regulation for this kind of deal..I know why people sell it for sambung bayar..but what makes people buy it??i don't think kereta sambung bayar is cheaper. There must be somthing about buyer's background that makes them resort to this kind of deal

This post has been edited by n3m3s1s: Mar 21 2015, 02:17 AM

What's stopping seller from reporting his car as stolen?