Varero

Selling A One Year Old Car

7 posts in this topic

Is it easy for a owner to sell a car by himself because of the paperwork involved like paperwork with Finance, LTA, new owner Finance company, transfer of ownership, etc? what is the hassle or amount of work to go through? Bside SG car mart, what other portals have good hit rate and success rates especially direct owners sales?

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Can try those dealer to sell on consignment basis

 

dealer no need to buy off the car, they will just charge you the admin fees.

depends on the car make and pricing, my experience says: 1.5k sub 50k and 2k for above 50k

 

you can choose your own price,

so if you are not happy with certain offer

you can forgo that and wait til someone who agrees on your pricing

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That will be another option. Any reputable dealers u can recommend? Thanks alot for the suggestion

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I sold 3 cars with Nordad at Keppel road

can look for damian the boss

 

check out their car selection on sgcarmart

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Hi Varero,

I sold my previous car i.e. BMW, direct to a direct buyer and below is briefly how i go about doing it.

1) read up on the necessary admin in onemotoring (matters concerning transfer of ownership & transfer PIN).

2) read all the neccessary admin from sgcarmart (they do all paper works FOC).

3) search through all competitors in sgcarmart, decide on asking price.

4) post in sgcarmart at very low price (expect calls from firm asking for consignment).

5) wait it out and have patience.

If after viewing, potential buyer wants to test drive (better prearranged as money can be involved), remember the following:

1) For test drive, collect a few thousand in cash, refundable after test drive OR collect deposit in cash or cashier's order (no cheques).

If no money, advise is only you drive while potential buyer as passenger... u may decide otherwise.

2) Fill in all info and sign "test drive" form provided by sgcarmart. Remember to state no "pedal to the metal" if you don't want it tested in that manner.

If deposit is collected, there's another form to sign by both parties.

3) Go with potential buyer for test drive.

If buyer confirms intention to buy (of course deposit taken in cash or cashier's order):

i) Both go to sgcarmart for all the admin. They can advise and do neccessary stuff buyer/seller behalf.

ii) If buyer wants to sort out on their own (insurance & loan)... u have to provide seller's info required by finance e.g. vehicle log car & NRIC (dont give original, give photocopy).

iii) You personally go LTA get the vehicle transfer pin, dont allow buyer or his agent to do it... unless admin all done at sgcarmart office.

iv) Once all stuff is settled, u need to find an agent that has the "trading account system" to settle transfer with LTA with your vehicle transfer pin... less hassle if done at sgcarmart. A fee is expected.

Hope the above info helps althgh not in 100% detail of what i go through... its a hassle, its an experience and ride sell for more.

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Thanks Retief and BabyA. For consignment, its the dealer who will arrange with the buyer for an appropriate time for both buyer and seller to meet and see the car?

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Thanks Retief and BabyA. For consignment, its the dealer who will arrange with the buyer for an appropriate time for both buyer and seller to meet and see the car?

For consignation, if u do not leave the ride with them, they will arrange a time convenient for both but generally seller has the say unless seller desperate to let go asap.

You can also give them a schedule of possible time windows for viewing the ride.

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