Document background
The Car Finance Contract is a fundamental document used in Malaysian vehicle financing transactions, essential for both financial institutions and consumers seeking to finance vehicle purchases. It must comply with the Hire-Purchase Act 1967, Financial Services Act 2013, and other relevant Malaysian regulations. The contract typically includes detailed terms covering the vehicle specifications, purchase price, financing amount, interest rates, payment schedule, insurance requirements, and ownership conditions. This document is crucial for protecting the interests of both the finance provider and the purchaser, ensuring clear understanding of obligations, and maintaining regulatory compliance in the Malaysian automotive financing sector. It serves as the primary legal framework for the entire vehicle financing relationship, from purchase through to final payment.
