Under what circumstances can a banking institution repossess my car? When can a bank repossess my car?

Your banking institution can repossess the motor vehicle hired to you when:
  • You default in two successive monthly instalments or the final instalment;

  • or
  • In the case where the hirer is deceased, defaults in four successive monthly instalments.

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Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)

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Knowledge Base ID :   1307
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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