Recently saw many ads on fb..

Not that im considering it . Just curious. How is the premise of sambung bayar? U continue pay loan, after the end will the change name occur? Will the owner honour the deal? Got some enforcable contract to prevent the unwanted occur?

No. Owner can scam buyer


Hence why it's illegal

what if the buyer dont pay and hide the car...?

u help me pay for my car , u drive

buyer pay deposit too. if u hide the car, owner report theft. can claim total loss. buyer on the other hand need find way to hide the elephant.

this is very true. a lot scammers out there, dont believe anyone

lu mao sambung bayar saya punya loan ka? terima kasih ya...
- house loan
- Car loan
pilih satu, 10q

Illegal thing. Buyer wont win. Sambung bayar kereta ada, sambung bayar rumah ada

Scam created by b40 to scam another B40

Only B40 is interested

TS is B40

It's illegal.

My friend sold his F10 5 series for 30k, buyer took the car and supposed to sambung bayar.

After 2 installments buyer stop paying. And don't want to return the car.

My friend make pulis report, pulis say x boleh buat apa2 sebab ini kes sivil.

End up my friend kena bankrupt by bmw credit and lost the car.

This post has been edited by Mr Mercedes: Feb 28 2024, 12:06 AM

Owner: thank you idiot sambung bayar buyer

That's idiotic

Seems like he didn't do any thinking

Lol i dont get it why ur fren dont just sell to 2nd hand shop or sell without sambung bayar?

Also why he bodoh dont he just say car kena curi?

Seller have no money to pay the installment and also no money to settle the loan.

So put the car up for 'sambung', usually upfront X amount and the buyer will have to service the loan for the remainder. eg 5 years left at 3.5k monthly.

Sign one agreement after the loan finished, the seller will then transfer the car to the buyer.

However, in Malaysia law. such agreement is not acknowledged and you can't hold anyone accountable if seller report the car as stolen or buyer go MIA with the car. seller also can choose to not transfer the car to you and take it back when his financial situation get better.

So, don't do it. Only idiots do this sambung bayar thing. Two also biar papa asal bergaya, getting a car beyond their means.

topkek

like that also can bankrupt

A is the car owner. A cannot afford the monthly installment and A try to sell it off.

B is looking for a car but B can’t get a loan from bank to buy car. B stumbles upon A’s car. B offers to pay A’s monthly installment in return for A’s car.

A surrenders his car keys to B. B drives the car anbd pays the month installment. A will transfer ownership to B once B settles A’s loan.

A risks B not paying and running away with the car or B commits crime with A’s car.

B risks A not transferring the car over once B settles the loan.

There are many variations to it. The trend now is a middleman acting as an escrow agent for all documents and both party signs some form of agreement as a form of safeguard. No matter what, if either party backs out, it’s never legal.

This post has been edited by WaterBuffalo: Feb 28 2024, 12:23 AM

to sell a car, you need settle the loan with bank. F10, if the loan still left 250k.

2nd car shop value your car at 200k. you need pay 50k extra and obviously the seller don't have enough money settle it thus 'sambung bayar'.

If can afford 250K car but cannot afford 50K most probably on verge to bankrupt. Might as well all in

I also cannot understand why would anyone want to sambung bayar because the initial deposit is so high.. might as well just take the deposit and buy the car straight from used car and take a loan.

Sometimes I calculate the deposit + balance installment is more expensive than buying the car straight new / used.

Can't get loan probably. Both sides also risky because buyer can dont pay installment and seller also can dont change the name to you after full settlement.