Merepek

I have a few more instalments to go for my car so I thought would save some money if I fully settle the loan now. I gave a call to the finance company to ask for the full settlement figure to be faxed to me. Strange, the figure they gave is about RM185 more than the balance of instalments when I thought that it should be less. One more phone call and I was told that I have to pay 'early settlement' charges of RM120 plus another RM65 loan disbursement fee. The RM120 is the penalty for settling your loan early and the RM65 is for stamping of agreement, phone calls & other miscellaneous charges. Wah! Like 'buaya' only this finance company - I think stamping charges is about RM10; I have never got any phone call from them since the day I sign the papers and they are billing me RM65! The officer said these charges are standard in the industry. Checks with a few knowledgeable friends and found that it is not true. I made hell alot of noise and the officer then agreed to waive the RM120 (yippee!!!) but not the RM65. Nevermind, I will try to make some more noise when I go to the finance company before month end.