thx for the reply..
btw, if i was to sell a car to a 2nd dealer which is still under bank loan, how to ensure that they will clear up the remaining balance with bank instead of sambung bayar?
For me, if I am in that situation, I will find ways to clear off the loan myself first. Borrow from parents, bro/sis, b/f, g/f, sugar-daddy, etc. Then get the clearance letter from finance.
When sell to 2nd hand car dealer, dealer will ask you got outstanding loan ? You say don't have, show the clearance letter.
I will ask for
banker's cheque or
bank draft (not normal personal/company cheque).
Also, JPJ now has a new "transfer form" for car dealers, ensure that is done. Else car dealer will give you their own letter to confirm you sell the car to them on XXX date, time, signature, etc.
Also, always get photocopy document that you need to pass to 2nd hand car dealer (better prepare yourself first, as car dealer normally use those blur photo-copier to ... well ... make things blur)
Remember, once sell, straight go cancel insurance. Otherwise, if accident, then it is still claimable.
"When Columbus started out he didn`t know where he was going. When he got there he didn`t know where he was and when he got back he didn`t know where he had been." - Anonymous