[newbie7]

Hi sifus and experts,

I plan to buy a second hand car and the owner has decided to just clear out the loan i.e. I will pay only the full settlement through a new loan. The owner has already called the bank and asked for the full settlement. What should we do next? Do I need to call the bank as well?

Kindly advice. Thank you in advance.

[fkmfkm]

Hi sifus and experts,

I plan to buy a second hand car and the owner has decided to just clear out the loan i.e. I will pay only the full settlement through a new loan. The owner has already called the bank and asked for the full settlement. What should we do next? Do I need to call the bank as well?

Kindly advice. Thank you in advance.

last time when i sell..the buyer and me just sign the transfer form. and i just pass him the key and the registration card.

[newbie7]

last time when i sell..the buyer and me just sign the transfer form. and i just pass him the key and the registration card.

Is it that simple? First thing I need to find a loan to cover the full settlement right? How do I do that? Do I need to bring the full settlement letter from the seller and go to bank to ask for loan?

I think the transfer form will be later right?

[newbie7]

Anyone here who can help? Urgent.

[newbie7]

Done. Already got the car with 100% loan from Maybank.

Steps that you need to do when buying second hand car from owner:
1. Finalize the price of the car with the owner.
2. Apply loan for the asking price (if you are lucky, you can get 100%).
3. Documents required for loan application - 3 months payslip, bank statement, EA/EC, a copy of grant, IC and driving license.
4. Ask the owner to go to the nearest PUSPAKOM for inspection (specifically B5 and B7).
5. Go to JPJ to sign the TMAB part (just a part of the transfer form). Both seller and buyer need to be there to sign the document.
6. After loan is approved, bring along all the required document (B5 B7, original grant, TMAB) and also the car to the bank.

Hope this info is useful.

[AX82]

Done. Already got the car with 100% loan from Maybank.

Steps that you need to do when buying second hand car from owner:
1. Finalize the price of the car with the owner.
2. Apply loan for the asking price (if you are lucky, you can get 100%).
3. Documents required for loan application - 3 months payslip, bank statement, EA/EC, a copy of grant, IC and driving license.
4. Ask the owner to go to the nearest PUSPAKOM for inspection (specifically B5 and B7).
5. Go to JPJ to sign the TMAB part (just a part of the transfer form). Both seller and buyer need to be there to sign the document.
6. After loan is approved, bring along all the required document (B5 B7, original grant, TMAB) and also the car to the bank.

Hope this info is useful.

HI Newbie7,

Thanks for info on this. I was about to post & ask this question on the correct procedures as i'm going to sell off my car.
I understood that we need to go for Puspakom on B5 & B7 inspection, but may i know if
1) my 2 point front & rear ultra racing strut bar must be removed before inspection or it's ok for them to inspect even it's installed on my car?
2) All windows including front & rear windshield must be removed totally to original glass condition?

Kindly advise.
Thanks!

[vr2turbo]

Done. Already got the car with 100% loan from Maybank.

Steps that you need to do when buying second hand car from owner:
1. Finalize the price of the car with the owner.
2. Apply loan for the asking price (if you are lucky, you can get 100%).
3. Documents required for loan application - 3 months payslip, bank statement, EA/EC, a copy of grant, IC and driving license.
4. Ask the owner to go to the nearest PUSPAKOM for inspection (specifically B5 and B7).
5. Go to JPJ to sign the TMAB part (just a part of the transfer form). Both seller and buyer need to be there to sign the document.
6. After loan is approved, bring along all the required document (B5 B7, original grant, TMAB) and also the car to the bank.

Hope this info is useful.

Good info.....

[vr2turbo]

HI Newbie7,

Thanks for info on this. I was about to post & ask this question on the correct procedures as i'm going to sell off my car.
I understood that we need to go for Puspakom on B5 & B7 inspection, but may i know if
1) my 2 point front & rear ultra racing strut bar must be removed before inspection or it's ok for them to inspect even it's installed on my car?
2) All windows including front & rear windshield must be removed totally to original glass condition?

Kindly advise.
Thanks!

Not sure of the strut bars but should be okay, if not just remove them.
Window tint, if within JPJ specs can leave them. Front 70% VLT and all others 50%

[newbie7]

Not sure of the strut bars but should be okay, if not just remove them.
Window tint, if within JPJ specs can leave them. Front 70% VLT and all others 50%

Yep. Agreed. They are very much particular about the tint. Rectify it before going to PUSPAKOM unless you want to waste your time.

[vr2turbo]

Yep. Agreed. They are very much particular about the tint. Rectify it before going to PUSPAKOM unless you want to waste your time.

Yup, got people who fail, they ask go and rectify then come back and check again.....