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Selling Car Full Settlement
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<blockquote data-quote="ryukeong" data-source="post: 1694707" data-attributes="member: 13614"><p>Hi there everyone,</p><p></p><p>I am ryukeong here, and I have questions that needed help for answers, hope anyone can help.</p><p></p><p>My questions is regarding about car loan settlement, for example;</p><p></p><p>Loan – RM10000 for 2 years</p><p>Interest – 5%</p><p></p><p>Total Interest + Loan = RM11000</p><p>Monthly Installment – RM458</p><p></p><p>Ok, lets say I have paid installment for 12months, and I want to sell my car (and made settlement to the bank), so does the interest for the (balance 12months installment) be deducted or I still have to pay for it too?</p><p></p><p>(Please let me know if I had any mistaken)</p><p></p><p>Another question about selling of my car personally, what do I have to do if buyer wanted to take a loan?</p><p></p><p>Last questions, I notice there are a way for selling car ‘Continuing Installment’, mean buyer will pay the installment balance for the seller right? Any procedure required to do? Coz what if buyer didn’t pay the installment / received any saman, would it come back to the seller? And also how about the insurance?</p><p></p><p>Thanx for reading…..and hope will get some help…</p></blockquote><p></p>
[QUOTE="ryukeong, post: 1694707, member: 13614"] Hi there everyone, I am ryukeong here, and I have questions that needed help for answers, hope anyone can help. My questions is regarding about car loan settlement, for example; Loan – RM10000 for 2 years Interest – 5% Total Interest + Loan = RM11000 Monthly Installment – RM458 Ok, lets say I have paid installment for 12months, and I want to sell my car (and made settlement to the bank), so does the interest for the (balance 12months installment) be deducted or I still have to pay for it too? (Please let me know if I had any mistaken) Another question about selling of my car personally, what do I have to do if buyer wanted to take a loan? Last questions, I notice there are a way for selling car ‘Continuing Installment’, mean buyer will pay the installment balance for the seller right? Any procedure required to do? Coz what if buyer didn’t pay the installment / received any saman, would it come back to the seller? And also how about the insurance? Thanx for reading…..and hope will get some help… [/QUOTE]
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