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Can my bank claim any amount from me after the repossessed vehicle is sold?

Yes.

If the proceeds from the sale of the repossessed motor vehicle are not enough to cover your liabilities, your banking institution can claim the amount outstanding from you.

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


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Knowledge Base ID :   1323
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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