Question about buying used car

[nasi_lemak]

Dear Bro & sis,

I jz bought a car from a direct owner thru a Toyota sale agent.....so, the sale agent will gao dim everything for me including loan & inspection...

Just to check with you all, once the loan is approve and LOU is issue and puspakom ispection is done, then i have to pay the balance of downpayment to the sale agent...

can i know, after make the payment, is it mean i can take the car?or i still have to wait until my bank settle the balance sum to seller's bank?

i am worry that if i pay the balanc eof downpayment to the SA & i cant take the car, many problem will arise...

any expert here?

Bump: any one know r?

Bump: any one know r?

hehe......scare

Bump: any one know r?

hehe......scare

Bump: any one know r?.........................................................

hehe......scare

 

[EvolutionZ]

dear nasilemak,

when u buy a car thru an agent, did u manage to see the owner?
normally if u do loan under direct submission to finance without going thru any used car dealers, the deal is very simple.
once loan approved, the seller will need to do the puspakom inspection and you need to raise insurance policy.
then both the seller and buyer have to go to the bank to sign documents.
after signing, you have to pay the difference between the loan amount and selling price to the owner

example:
car bought at 50k, loan 40k, then u need to pay the difference of rm10k DIRECT TO THE OWNER!
but if the seller still owe bank, its diff story already, e.g car bought at 50k, loan 40k but seller still owe bank 45k, then u only pay the seller rm5k and the balance rm5k to the bank which approve yr loan...they will do the settlement for u. after that u can take the car.

all finance charges, inspection fee etc are paid by u coz u r the buyer.

what i explained above are for direct cases, buying direct from owner....if thru used car dealers is diff procedures......so do not pay to the broker (sales agent)...all direct to owner unless the owner ask u to pay to him then u proceed.....anyway good luck in yr purchase...:)

 

[nasi_lemak]

thanks thanks,,,,i have met the owner...the car was introduce to me by fren's fren who are a toyota dealer...so, he is helping me gao dim everything....from loan to inspection...

what i am worry is: if i pay the differential amount to the dealer and he might not pay to the owner an di might not get my car..

so i think, the best way should be i pay the differential sum to the owner directly with everyone is there to witness and once pay, i will take the car......

i hope everything is smooth la..then can get my car next week sicne loan already approved.

 

[EvolutionZ]

good....always deal direct to owner if owner is there...unless u r buying from used car dealer then insist on receipts....good luck