Affin Bank – Special Conditions of Sale

By bidding on any Affin Bank repossessed vehicle or equipment, you confirm that you have read, understood and agreed to the following conditions:

1. Full payment within 10 days
The successful bidder must fully settle the purchase price within ten (10) calendar days from the auction date. Any approved extension will be subject to a penalty charge of RM500.

2. Payment method and location
Payment must be made at an Affin Bank Hire Purchase Hub by cheque or bank draft. All payments must be cleared within the 10-day settlement period.

3. Defective or cut-and-joint vehicles
Any vehicle identified as defective or cut-and-joint will be sold without documents.

4. Vehicles sold “as is, where is”
All vehicles and equipment are sold in their existing condition. Buyers are responsible for inspecting the item and conducting their own checks before bidding. Affin Bank and the Auction House are not required to disclose defects, missing parts, documentation issues, blacklists, summonses, ownership-transfer difficulties or discrepancies in the vehicle’s identification details.

5. PUSPAKOM VR1 inspection before collection
Successful bidders may arrange a PUSPAKOM VR1 inspection at their own cost. The inspection must be completed while the vehicle is still at the storeyard and before it is released.

6. Limited refund eligibility
A refund may only be considered if:

• The vehicle fails its VR1 inspection due to a full floorboard cut, major structural pillar cuts or chassis reconstruction, or a tampered chassis number; or
• JPJ or PDRM rejects the ownership transfer due to a blacklist imposed by JPJ or PDRM.

The buyer must submit a written refund request with the required supporting documents within thirty (30) calendar days from the auction date.

7. When no refund will be provided
No refund will be provided if:

• The VR1 inspection was conducted after the vehicle left the storeyard;
• The refund request was submitted after the 30-day period;
• The VR1 result is “Lulus Bersyarat”;
• The issue involves non-structural repairs, engine changes or tampering, ex-taxi status, missing parts, traffic summonses or the death of the original hirer; or
• The defect or issue was discovered only after the vehicle was collected.

8. Refund amount
If a refund is approved, Affin Bank will refund the auction deposit and the Auction House will refund the buyer’s premium, where applicable. Repair, towing, inspection, storage and other related expenses will not be refunded.

9. Ownership transfer
The buyer must complete the ownership transfer within three (3) months from the auction date through an involuntary transfer or double-transfer process. All arrangements and costs are the buyer’s responsibility. Affin Bank will not provide new identity documents, signatures or assistance from the original hirer.

10. Mandatory acknowledgement documents
Every successful bidder, whether bidding physically or online, must complete and sign:

• Appendix I – Addendum to Contract of Sale;
• Appendix II (A) – Pre-Release PUSPAKOM VR1 Inspection Election Form; and
• Appendix II (B) – Acknowledgement of Receipt upon collection.

Failure to complete the required documents may result in the deposit being forfeited and the vehicle or equipment being re-auctioned.

Buyer’s acknowledgement: By placing a bid, you confirm that you have read, understood and accepted these Special Conditions of Sale and the accompanying appendices.