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;
- In the case where the hirer is deceased, defaults in four successive monthly instalments.
Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)
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