..hi guys..i would like to know, especially from those who manage to do this, what would be a proper procedure to sell your car (not to dealer unless they pay and get car after that) ?? What steps suppose to be taken, to make sure that whole procedure is smooth and without loss for either side(assuming both sides agreed about price). I would like to know this details, regarding situation when cash is way of sorting out or if byer whats it trough loan. How that would work??
Ecc0, From my personal experience, this is what I will do. 1. Assuming the price is agreed between the buyer & seller. 2. Collect a deposit (varies between couple of hundreds to thousands) 3. Seller then take the car to PUSPAKOM for inspection (fees is about RM30.00 and if you ask runner to do it, it will cost you about RM150). 4. Upon completion of inspection, PUSPAKOM will issue a certificate which is valid for 1 month. This certificate is necessary for car ownership transfer at Road Transport Dept (JPJ). 5. If the buyer is paying CASH, ask the buyer to purchase a banker's Cashier cheque in favour of seller. 6. Seller (together with Cashier cheque) & buyer go to JPJ office to do the relevant car ownership transfer. Seller can ask JPJ runner to assist in the transfer. 7. Seller to inform insurance company to cancel the car insurance. 8. Seller to ask buyer to sign and acknowledged receipt of the car. 9. For purchasing via bank loan. Assuming the sale price is RM 200k. Bank loan is RM150k [SIZE=13.63636302948px] [/SIZE] [SIZE=13.63636302948px]Buyer must pay Seller cash/bank cashier cheque RM50k. [/SIZE] [SIZE=13.63636302948px]Bank must issued to Seller a Letter of Undertaking for RM150K upon completion of car ownership transfer.[/SIZE] Seller & buyer go to JPJ office for car ownership transfer followed by steps 7 & 8 above.
if u are lazy to head to puspakom, they offer PMI, Premier Mobile Inspection, bout RM130-150 (cant remember the price), they will come to your house or office to inspect your car, they are on time also, but u have to make an appointment with them before hand.
Just to add, the buyer and seller need not go to JPJ for the name change. The seller can make plans with the buyer to go to a MYEG authorized agent and they will biometric out the car from the seller and biometric in the car to the buyer which of course comes with an administration fee of if im not mistaken about RM 75.00 But if you ask me, head over to JPJ first thing in the morning and all your troubles will be solved. They are quite efficient now days which is really refreshing
