Sambung bayar vehicle transactions may seem tempting but can lead to serious financial and legal consequences for both buyers and sellers

1. Legal Status Issues

The original hire purchase agreement remains legally binding on the registered owner despite any informal transfer. The seller remains fully responsible for all payments even after handing over the vehicle to a new user. No third-party arrangements can override this legal obligation.

2. Financial Risks for Sellers

If the new user stops making payments, you as the registered owner will still be liable for the full loan amount. This can severely damage your credit rating and ability to obtain future loans. Banks may also take legal action against you to recover the outstanding amount.

3. Problems for Buyers

As an informal buyer, you have no legal ownership of the vehicle despite making payments. The registered owner can report the vehicle as stolen at any time. You also cannot legally sell or transfer the vehicle to anyone else. Insurance claims may be rejected since you're not the legal owner.

4. Documentation Difficulties

Without proper transfer of ownership through banks and JPJ, buyers face challenges with road tax renewal, insurance coverage, and vehicle maintenance records. This creates additional costs and complications that could have been avoided.

5. The Right Way Forward

Instead of sambung bayar, consider these legal alternatives:

Settle the existing loan first before selling
Work with the bankfinancier for proper loan settlement and vehicle transfer
Get a new hire purchase loan under your own name
Purchase from authorized dealers with proper documentation

Protect yourself by avoiding informal vehicle transfers that can lead to serious problems later. Always follow proper legal channels when buying or selling vehicles under hire purchase agreements.

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