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The Cancellation Letter For Car Loan Application is a crucial document used in the Malaysian financial services sector when a loan applicant needs to formally withdraw their application for vehicle financing. This document becomes necessary when circumstances change after submitting a car loan application, such as finding better financing terms elsewhere, changes in financial situation, or decisions not to proceed with the vehicle purchase. The letter serves as official documentation of the cancellation request and helps protect both the applicant and the financial institution. Under Malaysian banking regulations and the Hire-Purchase Act 1967, proper documentation of such cancellations is essential to avoid future complications and ensure clear communication between all parties. The letter typically includes specific reference numbers, vehicle details, and the reason for cancellation, which helps financial institutions process the request efficiently.

1. Recipient Details: Full name and address of the bank/financial institution, including relevant department and loan officer if known

2. Reference Information: Loan application number, customer reference number, and any other relevant identification numbers

3. Subject Line: Clear indication that this is a cancellation request for a car loan application

4. Vehicle Details: Information about the vehicle for which the loan was applied, including make, model, and year

5. Cancellation Request: Clear statement of intention to cancel the loan application

6. Reason for Cancellation: Brief explanation of why the loan application is being cancelled

7. Request for Confirmation: Request for written confirmation of the cancellation

8. Contact Information: Your complete contact details for further communication

9. Signature Block: Formal closure including full name, signature, and date