Car Hire Purchase Agreement Sample Malaysia

Ownership of the goods remains in the hands of the financial company until the tenant has fully paid the price agreed in the lease. At the end of the 21 days following the tenant`s notification date of the notification to tenants in accordance with Section 16. The most common type of rental-sale contract in Malaysia is for the purchase of motor vehicles. The lease, commonly known as the H.P. Agreement, must be written and then printed in a font size that is no less than 10 points. You should also note that any form of verbal agreement is not valid in the rental agreement. If you will recover them within 21 days, if you request in writing the notification that you are signing the delivery of the goods, and within 21 days of the announcement that you are re-entering the lease-purchase by paying the late interest and all interest due on payment of the late, repair or maintenance, storage, delivery and refund of the goods. Before the property described in the lease can be taken possession of the property, the financial company must first disclose to the tenant the name and address of the financial company to which they belong. If the financial company has sent an agent to the takers of the merchandise, the broker is required to present to the tenant the documents attesting to their status, usually issued by the financial company, as well as the identity card. 6. If the tenant is late, the monthly amount that must be paid by indicating it is the ……… days after they have expired or do not meet or do not meet any of the conditions of this agreement; The landlord may, without prejudice to his right to a late rental or compensation (if any) for violation of this Agreement, terminate the tenancy without notice and resume physical possession of the vehicle himself or through his agents or agents, and the tenant does not object to the owner or his agents or agents taking possession of the vehicle and/or deciding in writing to the tenant of the agreement and classification.

In the event of termination of this type, the tenant must immediately return the vehicle in question to his place of residence and the tenant pays the owner a sum of Rs…………… each month until the vehicle is returned to the owner. Would you like to sign up for a car loan or a car rental purchase? Look at Malaysia`s only auto credit reconciliation package. This agreement was reached at … ……………