Selling a Car with an Outstanding Bank Loan in Malaysia
You can still consign a car that has a bank loan. Here is how the settlement and payout work at PCC.
Yes, you can consign a car that still has a bank loan with Philip Car Consignment (PCC). When the buyer's loan is approved, we contact you for the thumbprint and the loan settlement. If there is a balance after your bank is paid, we pay it to you on the spot once the eBatal completes.
- You can consign a car that still has a bank loan.
- When the buyer's loan is approved, we contact you for the thumbprint and the loan settlement.
- If there is a balance after your bank is paid, we pay it to you on the spot once the eBatal completes.
- You are paid on handover, once the buyer's payment or financing has cleared and the ownership transfer is done.
1. How the settlement works
You do not need to settle the loan before you consign. We find the buyer first.
When the buyer's loan is approved, we contact you for the thumbprint and the loan settlement. The bank is paid from the sale.
2. Your payout
If there is a balance after your bank is paid, we pay it to you on the spot once the eBatal completes.
If you are unsure whether the sale will cover your loan, ask our team about your case before you start.
Frequently Asked Questions
Can I sell a car with an active bank loan?
Yes. When the buyer's loan is approved, we contact you for the thumbprint and the loan settlement. If there is a balance after your bank is paid, we pay it to you on the spot once the eBatal completes.
When do I get paid?
On handover, once the buyer's payment or financing has cleared and the ownership transfer is done. Our team will walk you through the exact timing for your case.
Get a Free Valuation
Get a free valuation and ask about your loan.
