‘At the time, she was an intern and needed a car, but she wasn’t eligible to apply for a loan herself. She promised she would make all the repayments.’
TAKING out a loan under your own name for someone else is almost always a risky decision, whether it’s for a family member, a close friend or, even more so, a romantic partner.
A Malaysian car sales agent recently shared the story of a customer who found himself blacklisted and burdened with RM25,000 in debt after taking out a car loan under his own name for his ex-girlfriend, who allegedly stopped making repayments after they broke up.
She shared that customer earned a salary of around RM7,000 which would normally mean the car loan would be approved within three hours.
“But suddenly, the bank rejected his application because he had been blacklisted. It turned out he had an outstanding debt of nearly RM25,000 after three years of not making payments on a car loan.
“When I asked him what happened, he told me that four years ago, he had bought a Myvi under his own name for his ex-girlfriend.
“At the time, she was an intern and needed a car, but she wasn’t eligible to apply for a loan herself. She promised she would make all the repayments.”
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Initially the girlfriend paid the monthly car loan. However when the relationship ended, she paid for a few more months before stopping completely.
To make matters worse, she had blocked his number, he no longer knew where she lived, and he couldn’t contact her.
“He did receive letters from the bank, and repossession officers even came to his house looking for the car, but the vehicle was with someone else.
“The problem is that his credit record is now ruined, and he is the one who has to settle the debt because the loan is under his name.”
Using the incident as a cautionary example, the sales agent advised people not to assume a dating relationship would necessarily lead to marriage, saying financial commitments should have clear boundaries.
“Guys, don’t take on the responsibilities of a husband too early. You have every right to say no. Don’t be swayed by girls who talk about wanting a “provider” when they may actually be taking advantage of you.
“A husband’s responsibility to provide is for his lawful wife, not a girlfriend. There should always be boundaries in a relationship. Otherwise, you’ll be the one who ends up bearing the consequences.”
