Originally posted by JuzSab:
pls advise as i m in the mist of buying a 2nd hand car, was dicussin the detail and was shock to found out tht there was so many misc. charge..need advis frm senior froum user out there.
1) the car tht i intend to buy is 2yr 1 mth old. loan for 7 yrs . let say i want to drive till before the 5th yr (abt).is it true tht there is penalty charges of 20% if i terminate before the 7 yrs of loan frm the bank? this was told by the S.E, therefor i have to verify 1st...was unsure abt it.
2) understn ther was a transfer fee, ok ,tht i accept coz tht was frm LTA. BUT there was again a agreement fee of $500 . What was tht? is this a procedure fee and a must in buyin 2nd hand car?
pls help....
thxs
Depends on the bank, some of them offer loans tat when u do a full settlement there is no penalty. So best is read thru all the small wordings doc b4 u commit urself. As for the agreement fees, i think its 4 admin that they do 4 u, eg, get the loan, go LTA do the transfer , get the insurance done up and so for.