Keep a look out for WWD 931 in Malaysia - Honda CRZ Forum: Honda CR-Z Hybrid Car Forums
 
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post #1 of 7 (permalink) Old 03-09-2016, 02:19 PM Thread Starter
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Keep a look out for WWD 931 in Malaysia

Hi all CRZ owners,

I am the owner of the white CRZ year 2011 Manual WWD 931. I sold the car on Dec 2012 to a local car dealer and recently find out that the car dealer made it a sambung bayar car.

I am currently trying to find the car and put it back for sales to settle the loan.

If you guys happen to spot the car or know the driver, please PM me or contact 012-2123290(Whatsapp only)

Thank you.
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post #2 of 7 (permalink) Old 03-09-2016, 02:43 PM
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Originally Posted by Benzer View Post
Hi all CRZ owners,

I am the of the white CRZ year 2011 Manual WWD 931. I sold the car on Dec 2012 to a local car dealer and recently find out that the car dealer made it a sambung bayar car.

I am currently trying to find the car and put it back for sales to settle the loan.

If you guys happen to spot the car or know the driver, please PM me or contact 012-2123290(Whatsapp only)

Thank you.
Huh?
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post #3 of 7 (permalink) Old 03-09-2016, 07:30 PM
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from what i could find online, the term "sambung bayar" refers to a used car that is sold to a buyer who takes over payments from the original owner. basically the buyer is taking care of the remaining balance owed (or is supposed to).

so it seems the dealer sold his car to some unsuspecting buyer while the original owner who sold the car is held responsible for paying off the remaining balance of the loan.
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post #4 of 7 (permalink) Old 03-09-2016, 07:30 PM
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Originally Posted by Spdbump View Post
Huh?
It means the used car dealer who bought this owner's car did not settle the balance outstanding in full with the bank to free him of his financial obligation.

This dealer sold the car to the next guy who will continue paying the monthly instalments. But the previous owner is still the registered owner. This can be easily confirmed with a check at the DoT and the bank.

This is dangerous because all liabilities incurred, such as unpaid instalments and/or traffic summonses, is still under the name of the previous owner. It is even worse if the car is involved in something illegal.

"Behind every great fortune there is a crime." ~ Mario Puzo (The Godfather)
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post #5 of 7 (permalink) Old 03-10-2016, 08:05 AM
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Originally Posted by Henry T View Post
It means the used car dealer who bought this owner's car did not settle the balance outstanding in full with the bank to free him of his financial obligation.

This dealer sold the car to the next guy who will continue paying the monthly installments. But the previous owner is still the registered owner. This can be easily confirmed with a check at the DOT and the bank.

This is dangerous because all liabilities incurred, such as unpaid installments and/or traffic summonses, is still under the name of the previous owner. It is even worse if the car is involved in something illegal.
Thank you all for translating for me. I love how this forum provides me an education of all things vehicle related around the world.

It sounds like a very risky thing and destructive to a credit rating/ financial life. Sounds like he needs a repossession agent.
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post #6 of 7 (permalink) Old 03-10-2016, 09:46 AM
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Can you report it stolen to the local police?

A car bought, but not paid for should count as stolen.
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post #7 of 7 (permalink) Old 03-10-2016, 07:08 PM
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Originally Posted by 96firephoenix View Post
Can you report it stolen to the local police?

A car bought, but not paid for should count as stolen.
This is not a case of theft.

Scenario: The owner sold to the car dealer, say at 60,000 and the balance owing to the bank is 50,000. The owner signed all the transfer papers. The owner was paid his 10,000 but the dealer did not settle the 50,000 with the bank for whatever reason.

Under hire purchase terms the bank holds the caveat to the car. The bank will only release the caveat upon full settlement of the loan. So, no settlement, no transfer. Meanwhile the bank doesn't care who pays the monthly instalments.


"Behind every great fortune there is a crime." ~ Mario Puzo (The Godfather)
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