I bought my car under lease agreement (not hire purchase) which is very unfavorable to me. Long story short, the sales man never showed my the T&C of the lease agreement. Yes, it's my fault. I signed the paper. Now that I want to sell the car (COE still 6+ years to go), the leasing company told me the car belongs to them and if I wanted to sell the car, they asked me to settle the full amount + PARF value to be paid to them. As illustration, the total they are asking is S$ 20K above the market price of the car today (05 Aug 2020). I ask them why, they said, it's part of the agreement and normal under car leasing agreement. Anyone has any experience how to resolve this matter with the leasing company? Thanks!
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My car is registered under my friend's company (sole propriety) as a commercial vehicle for Grab. It is expiring in end Feb and I have decided to scrap it after CNY. However, my friend will be overseas during this period of time. Since the car is registered under his company, can he authorise me to scrap the car? What are the steps and documents required?
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