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Tuesday April 3, 2012 MYT 12:00:00 AM
Monday May 27, 2013 MYT 9:49:58 AM
by lim wey wen
PETALING JAYA: Car owners will now be able to transfer the ownership of their vehicles temporarily to used car dealers through the online Interim Ownership Transfer System or Sistem Tukar Milik Sementara (STMS).
This would prevent car owners from getting fines and summonses, and instalment notices from financial institutions after they had sold their cars to used car dealers, said Transport Minister Datuk Seri Kong Cho Ha, who launched the system yesterday.
He said that fines and summonses issued for cars that were still registered under the owner's name before being sold to a new buyer had often caused many problems.
About 192,000 used cars were sold in the past two months, he added.
With the STMS, people who sell their cars through used car dealers will be able to register their vehicles and obtain a receipt as proof that they have transferred the ownership temporarily to the dealer.
If the vehicle is not sold after six months, the used car dealer will be given permanent ownership. This is done after the used car dealer has paid the seller the agreed amount for the car and taken over the seller's outstanding loan.
Both the seller and the dealer will be authenticated by the system by their MyKad and thumbprint.
The vehicle will then be registered under STMS, which is monitored by the Road Transport Department.
“We are not making it mandatory for all used car dealers yet as we are still awaiting feedback from consumers and the dealers,” said Kong.
Kong said the STMS might be extended to used motorcycles.
According to system service provider eAuto Sdn Bhd, the car dealer would be able to post the used cars to the eAuto website (eAuto.my) to reach out to consumers.
Its chief executive officer Ganesh Kumar Bangah said the system had been tested by 115 car dealers in Kuala Lumpur and Selangor.
Federation of Motor and Credit Companies Associations of Malaysia president Datuk Tony Khor said the STMS would help dealers ensure the cars they bought were free from unsettled fines and summonses.
“This is a system that protects both the consumer and the seller,” he said.
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