HLF couldnt loan u directly because there is no such car loan to renew COE.
So there is a way to play around with the car loan. Everyone knows and bank also just keep quiet. because they earn also.
So dealer will take in your car. which mean a transfer to them ,They will mark up your car price way much higher than the market rate. So they sell u at 40k and assumed u have down 30% downpayment and u got a car loan of 25k from bank .
Do note that even u r the only 1st owner of the car, the number of transfers will become 3 if u taking "coe loan"