- Dealers are only allowed to accept a maximum of 1% of the car's price as booking fee, eg. For a RM150k car, the dealer cannot accept more than RM1.5k as booking fee. They can accept less than 1%, of course.
- Booking fee is only paid when the loan application is approved. Understandably, customers will want to pay earlier to secure their purchase especially for a hot-selling models, and sales agents are more keen to serve customers who are willing to pay earlier rather than later. You are advised to proceed with caution.
- Upon cancellation of the booking NO MATTER THE REASON, the dealer must refund to you a minimum of 90% of your booking. If you paid RM 1k as booking, then the dealer must refund to you a minimum of RM900. There is no such thing as "We'll only refund you if your loan x approve..."
- The remaining 9% for the downpayment is only paid upon signing the hire purchase agreement. In the HP agreement there must be the chassis number of the vehicle allocated to
you. You are advised to duly request that the dealer furnish you with a chassis number before agreeing to sign anything. - If the dealer say "we'll only order your vehicle after you paid the booking/signed the HP agreement..." look for another dealer. They are not even suppose to accept booking fees for cars that are not yet in their stockyard.
sos 2
Again, feel free to correct me if I am wrong on any of the above points or if I missed anything.
This post has been edited by dares: May 17 2016, 10:41 AM