Hire purchase loans in Malaysia are governed by the Hire Purchase Act 1967. Click on the link to learn more about your legal rights under a hire purchase agreement. Some terms worth highlighting are as follows:

• You don’t legally own your vehicle until you have made all your repayments on your loan.
• A bank can only repossess your vehicle if you fail to make two successive repayments on your loan and the repossession needs to be done under specific guidelines. 
• You can’t sell your car without first settling the hire purchase arrangement with the bank and the new purchaser.