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- Sep 6, 2006
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I plan to buy a used car directly from seller. This car is currently still on loan with Bank A with balance 20K. Let say I purchase the car at 20k and my approved loan with Bank B is 15K. As I know, Bank B will deal directly with Bank A for the 15K and seller will only need to top up the 5K to settle the 20k loan right?
Cause based on personnel from Bank B(Bank that I applied loan with), he said current new JPJ rule (effective from the 1st of June), bank cannot direct deal with bank. Which means seller will need to fork out 20K first to settle the loan with Bank A before Bank B cause issue the 15K payment.
Is this true??? Cause I think this is ridiculously unreasonable. This is only a 20K car, how bout 200K car? Impossible to ask someone to fork out that amount of money right?
I am currently stucked. Can any sifu please clarify on this?
Cause based on personnel from Bank B(Bank that I applied loan with), he said current new JPJ rule (effective from the 1st of June), bank cannot direct deal with bank. Which means seller will need to fork out 20K first to settle the loan with Bank A before Bank B cause issue the 15K payment.
Is this true??? Cause I think this is ridiculously unreasonable. This is only a 20K car, how bout 200K car? Impossible to ask someone to fork out that amount of money right?
I am currently stucked. Can any sifu please clarify on this?