Purchasing a new vehicle comes with a significant set of responsibilities especially when it comes to repaying your hire purchase loan. In Malaysia, it’s commonly known that if an individual fails to pay their monthly instalments, the bank may repossess the vehicle and auction it off at a much lower price.
Recently, this exact situation happened to a fellow Malaysian. In a Facebook post by Selangor Auction Property, it was revealed that a brand-new Proton S70 was being auctioned off, and it was quite a steal.
The post, captioned “2025 buy, 2025 auction”, quickly caught the attention of many.
According to the listing, the black 2025 Proton S70 was put up for auction after the owner failed to keep up with monthly payments. The vehicle was initially listed at RM66,000, and was successfully auctioned off the very next day for RM70,000.
For context, the Proton S70 Flagship variant typically retails for around RM92,464, meaning the new owner managed to save over RM20,000 on a nearly brand-new car.
For a vehicle purchased and sold off within the same year, that’s definitely a huge bargain!
What are your thoughts on this? Let us know in the comment section below!
