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More Vehicles With Outstanding Loan Use 'Protection' Stickers

Anis

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download-(6).jpeg Car repossession has long been a source of contention among Malaysians. With rising living costs, many people have been unable to pay their vehicle loans on time, or have missed payments long enough for the car to be repossessed.
However, when you miss a payment, the repossession process does not begin immediately. Typically, a repossession notice will be issued only after you have missed two consecutive payments. 20200828_InfographicMalaysia-Car-Repossession.jpg
Photo: imoney.

Some individuals somehow believe they are "privileged" to use their "protection" sticker to legally operate a vehicle with a significant outstanding loan.
According to NST's Focus column, there are over a hundred "protection stickers" issued by vehicle repossession syndicates and secret societies. The stickers, which cost between RM100 and RM2,000 per month, are sold to buyers of ‘ kereta logo’, claiming that they will be protected from legal repossession agents on the road.


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Among them are Double Seven, Triple Seven, Four Seven, Pekida, Tiga Line, Along 85, 21 Repo team, 31 Repo team, 08 Repo Team, King 36 and 8686 repo teams.

These gangs claim to be powerful enough to protect irresponsible owners from repossessions in certain areas, particularly in sub-urban areas such as Kuantan, Terengganu, Kelantan, and Perlis.  Is it true that having protection stickers grants you the right to drive a car with an outstanding loan?

According to an anonymous repossessor interviewed by NST, the number of vehicles with protection stickers he encountered was rapidly increasing. At least ten of the 40 vehicles recovered by his team in a single day had these stickers. 


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These stickers have caused so much trouble for legal repossessors like him because there is nothing he can do when he sees a car with the protection stickers because they are protected by the 'secret society'.
This has been a long-running issue, but is there something else the authorities could do to stop these gangs?

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Written By

Anis

Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........

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