I was going to get Mazda 3 1.6 2008 second hand car soon by second hand car loan. Just wanted to share my experience because I found out there wasn't any latest update (2014) about getting second hand car loan for Mazda 3 1.6 2008 so here is what I been through. Hope I can help :
1) Date 10.05.14 : I was going to get a car and was looking at some website www.mudah.my and www.carlist.my. Been looking for valuable Mazda 3 with interesting price and I found a direct owner selling his Mazda 3 1.6 2008 for RM36000 so I give him a call and set up a meeting (Date 17.05.14) to view the car and bargain. I was quite satisfy with the car because it was well taking care of and he is willing to bring me to Bermaz 214 Jalan Ampang and after viewing the car and the staff over there open up a data for all his service that he had done. Everything seems fine. So we make a deal of RM42500
2) Date 19.05.14 : I called two bank for second hand car loan, Public Bank and Alliance Bank and they offered almost the same deal which is : Public Bank offer RM36000 loan 85% of RM42500 at 3.3% loan interest for 5 years loan which is RM 699 per month while Alliance Bank offer 85% as well (at first they offer 90% but being slash) 3.35% loan interest for 5 years, RM701 per month and the document the bank wanted from us is :
a ) IC of the buyer (photocopy)
b ) 3 Month Pay Slip
c ) Driving License (photocopy)
d ) Geran of the car that already being 'batal' (photocopy)
e ) IC of the Seller (photocopy)
3) Date 02.06.14 : We decided to take Alliance Bank because the person incharge (female) called me first and give me a very detail of what I should do (The Public Bank person called me and told me just to sign the agreement and when I asked what document I should do, he just said 'sign sahaja', I was like WTF !) and this is what she had email me :
Buyer
1)Deposit of RM6,500 (Selling price-Loan) by issue cheque payable to ALLIANCE BANK MALAYSIA BERHAD
2)RM350(Transfer fee and runner fees) by issue cheque payable to ALLIANCE BANK MALAYSIA BERHAD
3)RM20(sumpahan fees) cash
4)Insurance covernote (sum insured min RM38,300) Hire bank: ALLIANCE ISLAMIC BANK BERHAD
Seller
1)Puspakom B5 (original)
2)Puspakom B7 (original)
3)Original registration card
4) Date 02.06.14 : It seems so detail but I facing a lot of problem ! I actually regret for signing the agreement ! After signing the agreement and settle the deposit plus transfer fee & runner fees, we going to Pacific & Orient at Floor 11, Wisma Bumi Raya and the counter person told us me need the grant that already 'batal' and the previous insurance by seller must be 'batal' as well by then we can issue Insurance covernote so we have to wait for seller to do it.
5) Date 03.06.14 : The seller told me that he haven't settle the document for B5 and B7 yet and the grant can only be 'batal' once we do the transfer first ! So the my only part (Insurance Covernote) still can't be settle yet and can be only settle after we do the transfer. The seller told me that he will be free and ready on Thrusday (05.06.14) but the bank lady (Alliance Bank) is on leave on that day ! WTF ! So I got no choice but to wait until Friday (06.06.14). I hope everything will be ok.
6) Date 04.06.14 : The bank lady told me I need the covernote for the insurance because it was the part of the transfer procedure so I need a letter of the insurance cancellation from the seller and bring along the grant of that car to bring over to Pacific & Orient to do it. I got no choice but to do it tomorrow (Thrusday)
7) Date 10.06.14 : I facing a lot of problem with the Insurance Covernote. I called Uni Asia General Insurance and they told me the same thing what Pacific & Orient Insurance Co. Bhd. told me. They couldn't do the insurance cover note if the seller didn't 'batal' the road tax. I discuss with the bank lady and the seller, lucky me they helped me and gave me a runner a.k.a Multi Purpose Insurances named Mr N. Mr N told me he can settle it ! Phew, finally. The sum insured was RM38300 comprehensive and total amout is RM1,290.00 and he gave me the policy thru email. The payment is needed to be pay later by either bank in or bank transfer to Multi Purpose Insurans Sdn. Bhd. within 7 days on the date of the insurans being endorse. I pass all the document to the bank lady (make sure 'Hire Purchase Owners / Employer Loan' is being fill as which bank you had applied) and everything seems fine ! She forward all the document to HQ and what I need to do is to wait for her to call to do the car name transfer at JPJ.
8) Date 12.06.14 : The bank lady text me and the seller to inform that the document is with the runner (bank runner that we paid RM350) and I called the runner to set the name transfer straight away. The runner told us to go to JPJ at Maju Junction, Level 2 to do the process. We went there and the seller was there as well, it took only 20 minutes to settle it ! Fast ! The seller told us he will deliver the car to us tomorrow (Friday, 13.06.14) because he wanted to clean it and make sure it satisfy him before he hand over it to us. Then I went over to Multi Purpose Insurance building (which is near Maju Junction) to settle the insurance that had being given by Mr N. Settle it then I am all set. Looking forward for tomorrow!
9) Date 13.06.14 : Got the car from the seller ! So that all, my story. Hope can help.
Will update again when everything is settle and PLEASE give me some respond and maybe some of you agree or disagree with me. Thanks. Oh, I was looking for a place to do wax and polish in either KL or Kajang area. Any suggestion ? Haha~ Yalah, must make it look like brand new so the feeling is like a brand new car. Thanks !
Edited by hnh, 13 June 2014 - 02:39 PM.
