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Car Sold For 2 Years Pending Payment


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#1
BCat

Posted 04 May 2009 - 10:21 PM

BCat

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Dear all,

I really need to seek your advise/ help. I had sold my car 2 years ago to a car dealer (act as a middleman). All the documentation had to go through them and i had sign all the documentation. They had sold my car less than a month. Till date they had yet to settle my car loan.

I had made a police report and even issue 3 lawyer letter but that didn't help. They not even reply the lawyer letter. I had call them almost every 2 weeks and they keep on giving the same reason. Bla bla bla.

My question:

1) is it possible to change ownership without settle my car loan?

2) What action should i take now? The bank had asked me to repossess the car but that will give me a bad name in the bank system for 2 years.

My advice for those who are planning to sell their car:

Please make sure that the dealer settle the outstanding bank loan and transfer the ownership before releasing the car and registration card to them.

#2
bOROi

Posted 12 May 2009 - 01:00 PM

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QUOTE (BCat @ May 4 2009, 10:21 PM) <{POST_SNAPBACK}>
Dear all,

I really need to seek your advise/ help. I had sold my car 2 years ago to a car dealer (act as a middleman). All the documentation had to go through them and i had sign all the documentation. They had sold my car less than a month. Till date they had yet to settle my car loan.

I had made a police report and even issue 3 lawyer letter but that didn't help. They not even reply the lawyer letter. I had call them almost every 2 weeks and they keep on giving the same reason. Bla bla bla.

My question:

1) is it possible to change ownership without settle my car loan?

2) What action should i take now? The bank had asked me to repossess the car but that will give me a bad name in the bank system for 2 years.

My advice for those who are planning to sell their car:

Please make sure that the dealer settle the outstanding bank loan and transfer the ownership before releasing the car and registration card to them.


This is an interesting case.....You cannot transfer ownership if the previous financier or bank still have ownership claim endorsed on the grant. If the new buyer took a loan on the car then the new buyer's bank will require for the ownership claim of the previous bank to be cleared and the previous bank will only agree after they receive full payment of the loan outstanding.

I think what is happening is the buyer of the car told the car dealer that he is buying it on the basis that he continues payment of your instalments and will only transfer once all payments have been settled by him and the bank gives a letter of clearance. In this case its difficult for you to take action as the car dealer will claim that you have agreed to that arrangement when you sell him that car, you will have to prove that you never agreed to that arrangement.....word of mouth cannot use, must be documented evidence. Without it I doubt any lawyer can help you.

I am in the dark as to why the bank ask you to reposses the car and then you will have bad name in the system for 2 years????? In the first place if you have already sold the car, you have no right to take it back as you have signed it off, if anybody it should be the Bank that can repossess and even then only if the car instalments already outstanding for more than 2 months, if the new buyer is prompt then the Bank cannot issue notice to repossess and even then the notice to reposses will be sent to you because the other buyer has no agreement with the Bank. Always remember that when you buy a car on HP, you are just the Hirer and the true Owner is the financing Bank, if you are prompt in your payment etc etc then everythings fine but if you defaults then you find that the Bank has the right to take back the car..
Myah United Rules!!!!

#3
wanida

Posted 12 May 2009 - 01:47 PM

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If you have the "Bills of sale" or any undertaking from dealer to show proof that you'd already sold the vehicle..then u r considered as safe. If not, you'd already been conned.. smile_blackeye.gif

Can PM me the dealer's name ar??

#4
darreltian

Posted 13 May 2009 - 02:59 PM

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QUOTE (wanida @ May 12 2009, 01:47 PM) <{POST_SNAPBACK}>
If you have the "Bills of sale" or any undertaking from dealer to show proof that you'd already sold the vehicle..then u r considered as safe. If not, you'd already been conned.. smile_blackeye.gif

Can PM me the dealer's name ar??


...not really 100% safe. If the dealer tapau and close shop, then u will be in a very difficult situation. There are a lot of similar cases reported and JPJ shd perhaps come out with something like "temporary dealer ownership" to assure full settlement of prior financier

#5
BCat

Posted 15 May 2009 - 10:53 PM

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Now i am really dont know what to do?

Although i had sold my car buy legally i am still the owner cos they didnt transfer the ownership. End of the day i am still liable for the outstanding loan. Darreltian you are right if the company tapau then i got into big problem.

Really thinking hard to take legal action against the car dealer. I dont know that if i win the case can i claim back all the legal fees, damage (reputation-blacklist by the BNM) from the car dealer? Do anybody know?

#6
bOROi

Posted 18 May 2009 - 02:35 PM

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QUOTE (BCat @ May 15 2009, 10:53 PM) <{POST_SNAPBACK}>
Now i am really dont know what to do?

Although i had sold my car buy legally i am still the owner cos they didnt transfer the ownership. End of the day i am still liable for the outstanding loan. Darreltian you are right if the company tapau then i got into big problem.

Really thinking hard to take legal action against the car dealer. I dont know that if i win the case can i claim back all the legal fees, damage (reputation-blacklist by the BNM) from the car dealer? Do anybody know?


To take legal action got to see whether worth it or not, especially when you went into the arrangement with eyes wide open and not forced into it, you may or may not win, but sure thing you will have to pay lawyers fee, win or lose. the only way as I see it is for you to inform officially JPJ and the Police that you have sold your car, but do attach all the copies of the documentations, at least if any traffic offence they may be lenient a bit. Then just pray hard that the buyer settles all the payments to your Bank.

You see, if you sue also, in what capacity? You are only a hirer in an HP arrangement, its the bank thats the owner,and if you are not the owner you want to sue what. Yes you sign the transfer form but legally that form is only effective after the Financing bank has agreed to remove its ownership claim and the car theoritically becomes yours, then can effect the transfer, but until the Bank gets 100% of their money, the car is legally theirs. You may want a lawyers opinion on this matter, but as I see it nothing can a lawyer do.
Myah United Rules!!!!

#7
BCat

Posted 21 May 2009 - 07:32 PM

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QUOTE (bOROi @ May 18 2009, 02:35 PM) <{POST_SNAPBACK}>
To take legal action got to see whether worth it or not, especially when you went into the arrangement with eyes wide open and not forced into it, you may or may not win, but sure thing you will have to pay lawyers fee, win or lose. the only way as I see it is for you to inform officially JPJ and the Police that you have sold your car, but do attach all the copies of the documentations, at least if any traffic offence they may be lenient a bit. Then just pray hard that the buyer settles all the payments to your Bank.

You see, if you sue also, in what capacity? You are only a hirer in an HP arrangement, its the bank thats the owner,and if you are not the owner you want to sue what. Yes you sign the transfer form but legally that form is only effective after the Financing bank has agreed to remove its ownership claim and the car theoritically becomes yours, then can effect the transfer, but until the Bank gets 100% of their money, the car is legally theirs. You may want a lawyers opinion on this matter, but as I see it nothing can a lawyer do.



Hi Boroi,

Thanks for your advice. That mean there is nothing i can do except to beg this people to settle my car loan? This is really not fair for us as a seller...... Do all the car seller do it this way?

#8
bOROi

Posted 22 May 2009 - 10:25 AM

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QUOTE (BCat @ May 21 2009, 07:32 PM) <{POST_SNAPBACK}>
Hi Boroi,

Thanks for your advice. That mean there is nothing i can do except to beg this people to settle my car loan? This is really not fair for us as a seller...... Do all the car seller do it this way?



BCat, I am sorry the truth hurts, but I do not want you to use good money to chase after bad money. If you really think you have a case, Get advice from a solicitor, if he says there is a good case, tell him to go ahead with the case and let him get his fees from the award for legal fees, see if he is keen with that proposa, if not then dont pursue as he is now worried you might not winl. There will always be rouge car traders but they are a minority, and to make it worse, times now is bad, so even the good traders sometimes got caught and do it also.
Myah United Rules!!!!

#9
matchip

Posted 02 June 2009 - 10:18 AM

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have you tried Kementerian Perdagangan Dalam Negeri Dan Hal Ehwal Pengguna? ask for the hak pengguna section. hope this helps.

#10
bOROi

Posted 02 June 2009 - 07:26 PM

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QUOTE (matchip @ Jun 2 2009, 10:18 AM) <{POST_SNAPBACK}>
have you tried Kementerian Perdagangan Dalam Negeri Dan Hal Ehwal Pengguna? ask for the hak pengguna section. hope this helps.


I may sound sceptical but even with straightforward cheating like scratch and win and control of price of essential goods also the Kementerian cannot do much in this case I dont think theres much that they or even the Tribunal can do for you. You can of course try if you have the time to waste. This is because the buyer agreed to releasing the car etc etc etc to be handled by the secondhand shop, now not to your liking want to go to tribunal?? Unless you have all what you agreed is in printed form even the best lawyers also cannot do much. And the Pengguna Ministry???

Myah United Rules!!!!