Car loan deposite

[rinagi]

Hi ZTH forumer,

Kindly enlighten me on below mentioned case.

I've paid deposite with cheque for a car directly to owner and got the "car reg card without AP papers" for loan. No black and white agreement only verbally.
The owner lost the AP papers but he got the "stamp" from MITI. Car manufactured in year 99.
12 years old imported car.

Loan has been submitted to Public bank. Rejected due to "car age".
Tried other bank (maybank & cimb), do not offer loans to car above 10yrs.


In this case,

1. any other bank that offer loan for above mentioned car?
2. will I be able to gain back my deposite paid if no loan available?

Appreciate your advises.

Thank you very much

 

[Kevin Lee]

try ambank or rhb perhaps, ambank is more car friendly

 

[rinagi]

bro, if really cant get loan,
will i be able to get back the deposite ?

i need public voice on this.
thanks

 

[EvolutionZ]

how much is the deposit paid?
usually without AP, bank will not give loan
non national car, usually bank will give loan up to 12years....
if cant, go to credit company for loan....interest will be 9-10% per annum

 

[rinagi]

deposite paid RM 1,500 for a RM 63k car. i dun dare to go credit company.
so in this case, it's the car problem that made it not able to get loan.

does this means - i should b getting back my deposite ?

 

[EvolutionZ]

usually u should get back. if u get the seller to assist in loan, then u should compensate some to him for his time while waiting for yr loan approval.
but it still depends on mutual discussion and agreement.

 

[sir. 3S-G]

Bro why don't you just get yourself nominated for a personal loan?

 

[rinagi]

the problem is it doesnt worth the interest to be paid.
9-12% interest for an 12 yrs old car.
and how much can the personal loan offer? 6month? 1 year? 2 year?
i'll rather to pay more for another newer same car model (newer in yr of manufacture) than that piece of "junk"

dear all,

is it too much to request back rm 1000 out of rm1500 for his 1 month time wasted?
(i've taken 1 month of his time for doin the loan myself)
fyi, the owner blocked my calls and not answering.

shall i proceed with police or legal actions?
at least this could make him miserable, and not to take advantages on others and hopefully no other victims.

i have all his details and except his zth nickname.
i even hav her gf/wife working address and number.

 

[DanzEterna]

u should get back your deposit as the seller cannot produce the AP.

 

[D7zul]

no AP?

keta curi ke?

i won't buy any car without papers..

if the owner is genuine, he should produce the AP..

even if it's lost.. he can still get a new one from MITI..

the AP is like the I/C of a car.. more or less..

GET YOUR DEPOSIT BACK!!!

Gudluck..

 

[dr_snape_79]

emm.. very difficult. First, your "agreement" is by verbal. Second, no AP. This is same like you just "give" your rm1500 to that guy for free. How u gonna lodge police report without any physical prove. Afraid that that guy also might be lodge a police report that claim you accuse him without any prove

As i know, Ambank also max can give loan if car is less that 10 yrs old. Unless you go proceed with personal loan.

 

[karl_razlie]

what car?? iziiit NA silvia S15??.....if no AP..something fishy here...maybe he buy b4 this using cable...now hard to sell...coz all the custom officer get caught red handed d....

 

[rinagi]

not NA silvia S15.

 

[karl_razlie]

on the road right now got alot cars like this..entering malaysia land without proper channel....some using correct channel some just fake it out...

 

[rinagi]

now that i got back only rm 500 out of rm 1500 from him.
wonder if i should post it up the forum to warn others about this fellar...

:hmmmm: