What are the rights of my banking institution as an owner under a hire purchase agreement?

The rights of your banking institution include:

  • To repossess the motor vehicle when you default in payment.

  • To ask you to insure the motor vehicle.

  • To charge you any fees relating to the enforcement of the hire purchase (HP) agreement.

Back to Hire Purchase (HP)'s Contents

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

Back to the top

Sponsored Links

Share this page

Knowledge Base ID :   1313
Last Reviewed :   May 22, 2014
Source :   BankingInfo
Tags :  

Related Knowledge Base Issues