Outline ·
[ Standard ] ·
Linear+
After down payment only can confirm car allocation, Is it normal or? For limited car
|
dares
|
 Jun 23 2016, 09:33 PM
|
|
QUOTE(Fukatsu @ Jun 23 2016, 08:39 PM) Hello guys, What is the process of buying a limited car in Malaysia? Here's my past event : 1) Go to showroom and make booking - Done. 2) Sales man apply my loan - Done. 3) Loan approved - Done. 4) Down payment - *Going to make tomorrow. What the sales person told me is that I have to make down payment first before he can allocate the car, still not sure is it available yet. Is this really normal? If I make down payment and fail to allocate the car for me, how long normally they take to refund? You signed the loan agreement? By right, car is allocated before you sign the loan agreement. And after signing only you pay the d/p. This post has been edited by dares: Jun 23 2016, 09:34 PM |
|
|
|
|
|
dares
|
Jun 23 2016, 09:48 PM
|
|
|
QUOTE(Fukatsu @ Jun 23 2016, 09:42 PM) Tomorrow sign the loan agreement and make d/p, what he told me is the car still not sure is it available yet. Not normal right? How should I do, any smart way advise. What I did when I bought my previous 2 cars, was that I told the SA upfront that I will not sign the loan agreement without a chassis number. Tell them to allocate to you your car, else you will not sign the agreement nor pay the D/P, and you shall take your business elsewhere. This post has been edited by dares: Jun 23 2016, 09:48 PM |
|
|
|
|
|
dares
|
Jun 23 2016, 09:51 PM
|
|
|
QUOTE(eyerule @ Jun 23 2016, 09:45 PM) the car is allocated only when full payment is made (agreement signed and balanced paid). loan approved doesn't mean they will allocate, if they do that then when customers cancel they are stuck why would they be stuck? By right the car should already be in their stockyard. If the customer cancel then just take the 10% of the booking fee that they are legally entitled to, then sell the car to someone else. |
|
|
|
|
|
dares
|
Jun 24 2016, 08:38 AM
|
|
|
http://www.consumer.org.my/index.php/perso...otect-consumers http://www.sharesinv.com/articles/2011/07/...e-purchase-act/QUOTE The issue that sparked the most debate was the restriction to allow dealers to collect a maximum 1 percent of total selling price booking fee mandated by the amended Act. They would also have to refund 90 percent of the amount back to customers if the deal failed to materialise. In the past, car dealers collected a booking fee before a loan application is made to the bank. Under the amended law, car sellers or dealers cannot accept booking fees before the car buyer is served with a Second Schedule notice.
A Second Schedule notice can only be completed and served in practice, on the car buyer usually after the hire-purchase loan application is approved. Therefore, the remaining 9% down payment on the car can only be paid when the hire-purchase agreement has been prepared, with details such as the car’s chassis number included. In addition to this, banks are only allowed to prepare the hire-purchase agreement after the actual car unit has been allocated to the dealership. To enable this, car dealers would have to cough up their own money to book the cars from the principal. This is the main worry for dealers and the reason why many have complained about the new amendments. The 2011 amendment to the HP Act was enacted to protect consumers, many dealers prey on the customer's ignorance on this matter to secure sales even without stocks. Feel free to bargain with your dealer to ensure a car is allocated to you ASAP, but understand also dealers need to cari makan so maybe you can give or take a bit so both parties are happy. This post has been edited by dares: Jun 24 2016, 08:45 AM
|
|
|
|
|
|
dares
|
Jun 25 2016, 12:46 PM
|
|
|
QUOTE(SonnyCooL @ Jun 25 2016, 12:24 PM) How bank do u a car loan with out car ? When you apply for loan, you only need to state the amount and for which car model you intend to apply the loan for. Once the loan is approved, the bank will issue the letter of undertaking (LOU). After you agree to the terms of the loan (interest rates etc.), then only the HP agreement is prepared. It is in the HP agreement that the chassis number must be present. |
|
|
|
|
|
dares
|
Jun 25 2016, 02:11 PM
|
|
|
QUOTE(SonnyCooL @ Jun 25 2016, 02:01 PM) That what i wonder, no chasis how HP work ..... You'll have to ask those banks and dealers who let their customers sign the HP agreement without a chassis number. |
|
|
|
|
Quote
0.0693sec
0.98
7 queries
GZIP Disabled