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FAQs (Frequently Asked Questions)

Q1. What is fixed flat rate hire purchase facility?

Under the fixed rate hire purchase facility, you are required to:

1. Pay a down payment or "deposit".
2. Pay fixed monthly installments over the repayment period of the facility.

Upon full settlement of the hire purchase loan, the title of the vehicle will be transferred to you.

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Q2. How are monthly installments determined?

Your monthly installment will depend on:

1. Price of the vehicle.
2. The amount of down payment paid upfront.
3. The repayment period.
4. The applicable interest rate.

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Q3. What are the main obligations under a hire purchase facility?

1. Pay your installments on time.
2. Keep the road tax & radio licence current at all time.
3. Cover the vehicle with comprehensive insurance policy, at all time.
4. Maintain the vehicle in good and running condition.
5. Not to use the vehicle in contravention with any statutory regulations and the insurance policy.

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Q4. What should you do, in case of a motor accident?

  1. If someone is injured, call the police to the scene. Do not move the vehicle until the police has arrived, as exact measurements have to be taken. You need to lodge a police report within 24 hours of the accident.
  2. Note the following :

    *Particulars of the drivers involved
    NAME
    ADDRESS
    CONTACT NUMBER
    DRIVING LICENCE NUMBER

    *Particulars of vehicles involved
    REGISTRATION NUMBER
    MAKE & MODEL
    COLOUR

    *Particulars of insurance company
    NAME OF INSURED
    CERTIFICATE OF INSURANCE / POLICY NUMBER
    EXPIRY DATE

    *Particulars of independent witnesses
    NAME
    ADDRESS
    CONTACT NUMBER

  3. Make a sketch plan of the site of the accident.
  4. Note the street name and location.
  5. If possible, take pictures of the scene of accident.
  6. You must lodge a report with your insurer even if you do not intend to make a claim.
  7. Since May 1999, the Traffic Police does not require a report if it is a non-injury motor accident.
  8. Do not admit Liability to the accident before consultation with your insurer. If you do so, this will prejudice you and your insurer's rights of recovery against the third party.
  9. Inform your insurer immediately if any claim, Writ of Summons or Notice of Intended Prosecution is served on you.

Q5. How to get your vehicle repaired if it is damaged?

You may send your vehicle to our Service Centre.

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