[niceguy]

My uncle was cheated by this glamour look used car shop in Serdang Raya.
He traded in his volvo s40 for Mercedes W210. Then, the sales person
called to check the settlement, it was 43k. The car resale value is 57k.
very low. Any how he doesn`t want to pay anything for the mercedes. so the
car tested and booking fee is given. The next day, my uncle was curious
about the settlement, so he called the bank to check, and the result was
53k. this gave him a shock. whereas the dealer told him it`s 43k. then he
called the dealer again, the dealer said it`s his mistake. so, my uncle
immediately cancel the booking. and no refund. He lost rm500 for that.
According to the calculation, my uncle didn`t get 14k to take the
Mercedes. If he had taken the car. He think he still have to pay the 14k
settlement as it was reported wrongly by the car dealer. Beware of CYK!!!


P.S: New tactic in used car dealers, better check ur settlement urself!!!

[AE101rulez]

CYK? kindly tell loc...

[niceguy]

Serdang Raya, Seri Kembangan. Huge Used car Shop with nice smiling u come
to them. Then, try all the tactics to get u a car....

[oldmanalex]

always check the full settlement yourself,nowadays trust no one.

[advanza]

yes, i'm totally agree...

[invisible]

sorry noob here, what is settlement? thanks

[acheong7]

full settlement ... refers to amount one needs to pay to the financial institution to fully settle your outstanding loan on your car
as car owners, we should personally find out the settlement amount and therefore, also find out how much rebate is available
this rebate can sometimes be relatively substantial and can go towards the downpayment/instalment/repairs of the car you plan to next take

financial institutions might impose lock-in period of 1-2 years on vehicle hire purchase
full settlement during this period will incur penalty
after lock in period one may opt to settle in full
one may pay more than stipulated monthly instalment during lock-in period

unfortunate malaysian fact of life: malaysian HP is a ripoff and considered illegal in some other countries

[AC19]

unfortunate malaysian fact of life: malaysian HP is a ripoff and considered illegal in some other countries

should have disclaimer clauses to protect the interest of your uncle when he signed/paid the MYR500 deposit...