by danielleo 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
- 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.