[Art806]

spirit36, what is the settlement process like? just get the settlement sum and pay at counter? i presume we'll get a release letter, so what do we do with it? Do we need to do anything on registration card or sign any other documents?

thanks

just attached the release letter with ur reg card so that the future owner can make the necessary arrangement..

[spirit36]

just attached the release letter with ur reg card so that the future owner can make the necessary arrangement..

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Hi Cheez,
Art is right, attached the release letter with ur reg card and ....

What u intend to do with ur ride?
If u wanna sell and already hv a buyer/car dealer, upon receiving your $$$, hand over the release letter and ur reg. card BUT at the same time u should be getting a release letter fr the car dealer.

If u wanna keep ur ride. Sign ur reg. card and keep it safely, Never know bank might send you another letter saying over due and so on.

If you sell off ur ride, check with JPJ 1 week later to ensure ur old ride 'name' has been change.
Just call the JPJ near ur and give ur particulars, they able to update thru the phone.

Rgds.

[maxjlone]

Hi, My question is i had a car loan with welcome lasting for four years and included several insurances, ppi, shortfall extra, and mechanical breakdown. I traded it back to welcome after paying nearly a grand for a new exhaust after two years deciding the car was too expensive to run and as the children was getting older requiring a smaller car. Having purchased another car from welcome eighteen months ago i now feel the previous car agreement was settled without taking into account any early settlement for both the purchase and insurances.
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[barbiemoor]

Car Loans are like that, unlike Housing loan interest are on balance at yearly rest

regards,
barbie

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[Jumpman23]

If you early settlement also no use! this just enrich the bank now rather than wait till end of loan agreement.

Because the interest for the loan period is already top up into the instalments unlike housing loan where if you settle early the interest will be lower.

It is very strange why till today no Malaysian have the gut to bring this up in the parliament. Some car are more expensive than house, and the repay is much shorter than housing loan.

This is Malaysia BOLEH?

Our govt. very very terror la!

[rikeys]

If you early settlement also no use! this just enrich the bank now rather than wait till end of loan agreement.

Because the interest for the loan period is already top up into the instalments unlike housing loan where if you settle early the interest will be lower.

It is very strange why till today no Malaysian have the gut to bring this up in the parliament. Some car are more expensive than house, and the repay is much shorter than housing loan.

This is Malaysia BOLEH?

Our govt. very very terror la!

u think GOV cares? else we would have cheap cars to change every 5yrs lo