Recently, I traded in my 10 years old Perodua Myvi for a new Perodua Alza and I just want to share with you the steps of how to do that as I was very blur and had to ask around many people before getting it all done.
- Monday May 9. Visit a Showroom. For me it was Perodua Sales Sdn. Bhd. (Kajang) No 35, Jalan Prima Saujana 1/1A, Taman Prima Saujana Section 1, 43000, Kajang, Selangor. There are 3 Perodua Showrooms in Kajang but the other 2 are authorised resellers. It really doesn’t matter if you want to trade in a Toyota to Honda it can also be done. At the showroom, a valuator will be present to check and test drive your car on the spot to give you a price, so make sure you bring your car in a clean and nice condition to get a good pricing. Anyways, my 10 year old car was valued at RM10500. On the spot within the hour, I also made the booking for the new car and being a manual car, I was told it would take longer, around 3 weeks. I will hand over the old car on the same day of getting the new car so it’s all very convenient. Now on to the documentation part. I signed some forms and decide on the downpayment etc.
- Prepare documents for loan application. Your good agent will arrange everything for you, On my part, I only needed to submit my salary slips at least 3 months, EA Form and EPF letter as well as Confirmation letter from Employer. However, my agent managed to get the loan for me without the EPF and confirmation letter, she was really speedy, by the way she I mean is Ida her name.
- Tues May 10. The bank already called me for interview, I got my hire purchase from Maybank even thought the interest was higher than some other banks but somehow they processed faster or whatever, I’m not sure.
- By Wed May 11, my loan was approved. Loan is approved, I need to bank in my down payment agreed and also to sign agreement of the hire purchase with the bank officer. I made appointment with the bank officer to meet at the Perodua showroom itself. The bank officer was also very speedy, on the day itself he met up with me to sign the agreement. Very fast service.’
- Meanwhile, I went to my old car’s bank to get the registration card, yes I actually just left the card at the bank all the years after settling payment. I had to go there two times as the card was in the safe and they needed a day to retrieve it so I had to go back the day after. After that I passed the card (geran) to the Perodua showroom as my old car will soon belong to them, so they can wrap it using Fleet Wrap HQ for marketing perposes, etc.
- So my funds was not in, I waited till May 17 before there was enough cash in my account for the down payment. Take note that the old car value of RM10500 was automatically taken as down payment for the new car, it was just that I wanted to top up more to lessen the loan interest. I also opt for 7 years instead of 9 years also to reduce the interest. So I whatsapped the transfer receipt to my agent. Nowadays, everything is done online. You don’t consider Myinstantoffer scam, do you? They are legal and have many benefits.
- After that it is just waiting for the car to arrive which the timeline will vary according to the model you booked. For me it took less than 3 weeks from booking day to the final day.
- So by June 3, I went to get my car. Just to be nice, I washed the old car and make it nice for the hand over. At the showroom there were more documents to sign and even thumb printing.
You would think that’s the end of it? Drive off the new car? Well not so. There’s the insurance of the old car that I can get a rebate for. For example, I paid insurance for the old car till Dec 2016, why not get my money back right since now I also paid for the new car? I was advised by the agent that I need to go the the bank office of the insurance and even to JPJ to cancel the road tax and to cancel the insurance, in the end I managed to get it all done without leaving the office.
How to Cancel Road tax and Old Car Insurance
- Ask the agent for the Tukar Milik Sementara Slip.
- Email the bank of your car insurance, for me it was Etiqa, According to the reply from Etiqa I need to first cancel the road tax at JPJ and then return the original certificate of insurance together with the confirmation of road tax cancelation to any nearest Etiqa Branches. However, I had a problem, I do not want to visit JPJ with the neverending queue nor do I have my original certificate of insurance, I only have the one they sent me via email. So, I told them so and they replied this: You may provide us a written and signed request to cancel the policy stating that the policy was never delivered to your address. I do not know why they need the original in the first place when they can actually work with the digital one. So anyways I just emailed them my written letter signed and scanned. Together with it I submitted the Tukar Milik Sementara Slip that was given to me by the car sales Agent at Perodua that proved the car was being changed to them and also the PDF Ecovernote which is the certificate of insurance.
- Timeline, from the time I sent the first email on June 14 to the time they told me yes my insurance is now cancelled and that the money is transferred to my bank account, it was Aug 16, so all in all about 1 month. By that time, I needed a confirmation letter from Etiqa that I can submit to my agent to get another refund from Perodua side. I asked for the letter from Etiqa on email as they were going to send it via snail mail as well, so that I can hasten the process.
- I whatsapped the letter from Etiqa back to my Perodua Agent to get back that NCD. That was Aug 17. She then submitted to my current car insurance to process the refund and told me the usual time line is 2-3 weeks.
- However, by Monday 22 Aug, I was told it was already processed and the money would be in by today Aug 24, which in fact it was true. Thanks to my agent Ida who connected directly to the insurance officer, they managed to get it done really quickly. A good relationship with the agents is super important.
Extra story here regarding my hire purchase loan
I forgot that I already have a standing instruction to pay my car loan every month on the 30th which was agreed with the bank officer when I signed the agreement. I paid the car loan manually on the first month, and by second month I was not supposed to pay it manually anymore as then the standing instruction will take effect. Forgetting that I paid manually again the 2nd month and then I created my own standing instruction thinking that is to start on the 3rd month. The bank system doesn’t know that so in the end I was paying 3 times in the second month and when I opened my transaction, I was super shocked that all my money was gone! Ok never mind so let me share with you the steps how to get that money transferred back to my savings account.
- First I called the bank customer service to check, but apparently it cannot be done through the phone as I do not my access number which is also the ATM card number. I had cancelled my ATM card for this bank account a long time ago. They asked me to go the the branch where I opened my bank account.
- So I went to the branch which thankfully is where I live. Imagine I had opened the account in Sarawak, matilah. Anyways, I went and the officer was very helpful and tried to solve the puzzle of the 3 times transaction. She also gave me my access number which is the crucial number for making any telephone banking in future. She finally told me to write in to the bank if I want the money transferred back else I have to wait 7 years and not pay the last 2 months!
- So I got back and back to the computer, emailed the bank after logging in to the online banking. That’s the only way they can send the request to the relevant department.
- I sent that first email on Aug 11. After that, no news at all. On Aug 22 I emailed them again, and today Aug 24, I received a call to say the money is transferred back to my account already. The officer did apologise about taking too long for some reason, I think she was not around on holiday or something like that. Nevertheless, I was thankful this was all finished and done with within the month.