Saturday, January 28, 2023

Motorcycle shop in Terengganu names and shames customers who failed to repay instalments on Facebook

Social NewsMotorcycle shop in Terengganu names and shames customers who failed to repay...

Social media is a powerful tool that allows users to spread their message quickly. This also means that all good or bad news will spread like wildfire.

Recently, a motorcycle shop in Seberang Takir, Terengganu decided to name and shame those who defaulted their instalments by posting a whole list of borrowers and vehicle plate numbers.

The list contains more than 160 names of ‘debtors’ listed along with their model and amount of arrears.

Source: Facebook

Meanwhile, the motorcycle shop also made no effort to hide its disappointment.

“There are some of us who do not know how to appreciate when they were given a good opportunity.” it wrote in the comment section.

The Facebook post has since gone viral with many netizens expressing sympathy to the motorcycle shop and condemning those who disappear without paying up their instalments.

Netizens pointed out that the motorcycle shop had been very patient with these borrowers compared to typical financial institutions.

They added that debt is an obligation that needs to be fulfilled, whether in Islam or other religions.

Source: Facebook

Why do motorcycle shops provide financing?

According to Motor Mok Mung, not everyone who works can produce a payslip or a bank statement to borrow from banks or third-party financial institutions.

In addition, some applicants were unable to borrow due to their bad credit ratings.

Thus, they can only rely on dealer or ‘shop’ financing, which is a type of loan underwritten by a retailer for its customers. This makes financing quicker and more accessible for them.

However, they may not always get the best terms and conditions. Some buyers even claimed that dealerships are pushing customers to borrow because they make more money that way.

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