I am so happy. After 7 years, I settled my car loan with CIMB bank :)
A few days before the due date of my car loan, I called the CIMB Auto Finance Centre in Kuching to enquire about the amount of my last settlement and to enquire about the change of ownership of my car. At the same time, I am also renewing my road tax and car insurance.
After I done my last settlement, renewed my road tax and car insurance, the officer told me to come back the next day to collect my green card and Settlement / Release Letter. So, the next day I went to collect my green card and Settlement / Release Letter. The bank officer reminded me to bring along my green card and Settlement / Release Letter and go to JPJ to change the ownership to my name. He said I can go any time but better not to delay for too long. As many people forgot to change the ownership and problem might arise if they want to sell their car.
So, after a few days, I went to JPJ. I brought along my green card and Settlement / Release Letter from CIMB Bank. JPJ in Kuching is located at 14th Mile, Kuching-Serian Road and the transfer of ownership is at JPJ Block B. Luckily hubby reminded me to go straight to Block B. Else, I might be wasting some time to ask around. The whole process, from waiting time to getting the chop from JPJ only took about 15 mins. Hubby said they just need to confirm from JPJ online system that the settlement is done, then they just put a chop 'DIBATALKAN' where previously was 'Hakmilik Dituntut oleh: Bumiputra Commerce Fin. Bhd...' The officer also sign and stamp her name and position, and with a date at the back of the green card. That's it. Done and the car is fully mine :)
By the way, there is no charges involved. It's FOC.
Additional note: If you are paying runner to do the change of ownership for you, you will be charged between RM8-RM10 as service fee.