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Leaving Hong Kong - financed vehicle and sale of vehicle without being in HK

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  1. #1

    Join Date
    Jan 2008
    Posts
    894

    Leaving Hong Kong - financed vehicle and sale of vehicle without being in HK

    An update to my sale of vehicle when leaving Hong Kong:

    I had a Tesla Model S that I have been financing with Orix. Since I left HK over a year ago, I had left my vehicle with a trusted friend who kept it charged up and utilized. Originally I was not going to sell it until I'm 100% sure I will not return to Hong Kong. Previous year, I had my mail forwarded to my friend by HK Post so he received the annual road license renewal paperwork from Orix and submitted payments and documentations on my behalf without advising Orix that I'm actually not in the country anymore. I had added my friend as a named driver to my insurance policy. But this year since my 6 months mail fowarding service expired (HK Post will no longer do mail forwarding for more than 6 months when I asked), I emailed Orix and told them the full situation that I'm not in HK but they can mail the renewal paperwork to my friend's address. LOL I was immediately forwarded to a new team at Orix who told me "based on my situation", the remaining 1 year of financing amount is due immediately and once I paid they will release the Vehicle Registration Document to my friend (with a signed pick up authorisation letter from me). I guess they were scared I'd just abandon the car payments, which made no sense since I've been paying them out of my HK bank account for the past year anyway and was intending to keep doing it, and wouldn't have contacted them.

    So I sent funds for the balance amount to them, a BOC account, and they had the VRD released to my friend at their office. I had asked around a few dealerships, including Hybrid Pro in Kwun Tong that I highly recommend for hybrids/EVs servicing, to put my car on consignment with them. But in the meantime, my friend had found me a buyer. The process we went through was the buyer had a viewing of my car in HK with my friend, confirmed on the price, I couriered my remaining key to my friend and handled the payment as well as transfer of ownership at Transport Dept with him. The documents I had to provide were an address proof, a signed HKID photocopy/scan, and the transfer of ownership document signed by me (also couriered to HK as it needed to be an original).

    Just info for thought.

    emx, shri and jgl like this.

  2. #2

    Join Date
    Jun 2010
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    That's a good friend you have in Hong Kong.

    Titus, Mr Chips and bak875 like this.

  3. #3

    Join Date
    Jan 2008
    Posts
    894
    Quote Originally Posted by huja:
    That's a good friend you have in Hong Kong.
    One of the few things I will truly miss, the relationships I made with people for 15 years of my life. Cities are lifeless buildings, it's the people that makes a home
    Jillypots, Mr Chips, dfc and 5 others like this.

  4. #4

    Join Date
    Jun 2011
    Posts
    564
    Quote Originally Posted by huja:
    That's a good friend you have in Hong Kong.
    If anyone leaving HK would like to leave their car with me to keep charged and utilized I will be more than happy to oblige depending on the vehicle obviously.
    Editor likes this.

  5. #5

    Join Date
    Feb 2009
    Posts
    8,280

    I've got about 5 mortgages/loans/overdrafts/credit to cash facilities/tax loans in HK at the moment, borrowed up to my neck cheaply at 1%-2% interest rates to finance my lifestyle in Australia now and don't need to borrow much from Australian banks these days.

    I guess I better not tell all these HK banks I've left HK, I use my HK office address as correspondence address on most of these or just set all the bank statements etc to email now and slowly paying them off. A couple of them will be paid off in the next 12 months, but the big $7m mortgage I took out (on a $14m flat in HK) at the end of last year just before I buggered off still has another 29 years to run

    Editor and Mr Chips like this.

  6. #6

    Join Date
    Aug 2017
    Location
    Beautiful Britain
    Posts
    2,089
    Quote Originally Posted by bdw:
    I've got about 5 mortgages/loans/overdrafts/credit to cash facilities/tax loans in HK at the moment, borrowed up to my neck cheaply at 1%-2% interest rates to finance my lifestyle in Australia now and don't need to borrow much from Australian banks these days.

    I guess I better not tell all these HK banks I've left HK, I use my HK office address as correspondence address on most of these or just set all the bank statements etc to email now and slowly paying them off. A couple of them will be paid off in the next 12 months, but the big $7m mortgage I took out (on a $14m flat in HK) at the end of last year just before I buggered off still has another 29 years to run
    I did similar when I left the UK for HK. Couldn't be bothered with officialdom and the hassles it would cause so just had a friend look after my mail and kept all my accounts/mortgage at my home address in UK.

  7. #7

    Join Date
    Jan 2010
    Posts
    6,452
    Quote Originally Posted by bdw:
    I've got about 5 mortgages/loans/overdrafts/credit to cash facilities/tax loans in HK at the moment, borrowed up to my neck cheaply at 1%-2% interest rates to finance my lifestyle in Australia now and don't need to borrow much from Australian banks these days.

    I guess I better not tell all these HK banks I've left HK, I use my HK office address as correspondence address on most of these or just set all the bank statements etc to email now and slowly paying them off. A couple of them will be paid off in the next 12 months, but the big $7m mortgage I took out (on a $14m flat in HK) at the end of last year just before I buggered off still has another 29 years to run
    The "Report Post" button is to report you to the banks, right?
    Mr Chips and bdw like this.

  8. #8

    Join Date
    Oct 2019
    Location
    Silver Coast
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    780
    Quote Originally Posted by mrgoodkat:
    The "Report Post" button is to report you to the banks, right?
    What happens on Geo. stays on Geo...
    Skyhook and mrgoodkat like this.