I'm only telling you what i've seen, but do assess it at ur OWN RISK on the issue...
There are quite a lot of sambung bayar cars out there. There are even people who do it as a business. They will prepare argreement with lawyer, then file a police report to state that this car is now being driven by 'new driver' and the responsibility is on him on any related cases. Onwers will also usually ask for like 3-4 months instalment up front, maybe more (as deposit) over and above the selling price minus settlement amount, just in case 'buyer' misses instalment instalment, etc. On seller side, he usually has to sign jpj form k3 up front. Also seller doesnt surrender spare key... seller puts buyer as name driver in insurance....
Thats abt it from what i've seen.... again assess at OWN RISK... safest is still settle loan...
There are quite a lot of sambung bayar cars out there. There are even people who do it as a business. They will prepare argreement with lawyer, then file a police report to state that this car is now being driven by 'new driver' and the responsibility is on him on any related cases. Onwers will also usually ask for like 3-4 months instalment up front, maybe more (as deposit) over and above the selling price minus settlement amount, just in case 'buyer' misses instalment instalment, etc. On seller side, he usually has to sign jpj form k3 up front. Also seller doesnt surrender spare key... seller puts buyer as name driver in insurance....
Thats abt it from what i've seen.... again assess at OWN RISK... safest is still settle loan...