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    Sambung Bayar - means what?

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    bigbug

    Number of posts : 43
    Age : 44
    Location : Hairenmakeester
    Registration date : 2009-02-05

    Sambung Bayar - means what?

    Post by bigbug on Mon Feb 16, 2009 10:57 pm

    Sometimes you find bikers looking for bikes 'sambung bayar'.

    Does the term mean the new owner just continue the original HP monthly instalments, or got new set of instalments set by the seller, or how?

    Recommended to buy a bike that is still in such a situation?

    scratch
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    danielleo

    Number of posts : 23
    Age : 37
    Location : Kuala lumpur
    Registration date : 2009-02-05

    Re: Sambung Bayar - means what?

    Post by danielleo on Tue Feb 17, 2009 4:20 pm

    sambung bayar usually means you continue the loan under the ex owners name. and name transfer only done when amount is fully paid up. Usually a crappy letter is drafted and signed by both parties. This situation usually happens when the blance loan amount is higher than the market price of the bike or its a crap bike and no one will pay deposit fo it.

    This procedure is not advisable.

    Disadvantage to new buyer.
    - Ex Owner wants his bike back, deals go sour. He lodges a report that the bike is lost. You in deep shit.
    - after you about to make the final payment, he reports the bike loss and make a handsome ammount from insurance claim. This is when you really feel your rear end has been violated Very Happy
    - Ex owner has summons on other vehicle. you cannot renew your bike road tax. you're screwed.
    - half way thru, you decide to sell the bike off. cant locate owner. HP dibatalkan. you're screwed

    Happy buying.
    Very Happy

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