Procedure for selling my car?

[Biglittlebean]

I am thinking of selling my car directly. Don't feel doing trade in or sell to dealers as the returns are low. Let's say after I find a buyer, what should I do? Do I need to also arrange a loan for the buyer? My car's fully paid off. Thanks!

[Darrenlee]

what color and model?

[Simpleman]

No need to arrange anything for your buyer. That's his work.

Ensure you get full payment, preferably cashier's order.

Cheque could take some time to clear. Or worse......

[Biglittlebean]

Chevrolet Aveo Sedan Manual, black.

[Sfhuang]

Conversely if I were the buyer, how should I arrange the payment, especially if I want to take loan from bank?

[Spurman]

Let say I wan2 sell my getz 1.1m, bought in 2005, Dec at 40k at COE 14k...

What would be the value now?

I still have 6.8yrs loan but I made a 10k downpayment also backthen..

 

Let say I wan2 change to Lancer, what would the procedure be like..

[Fondue]

as simpleman said, the buyer need to settle the loan himself.

 

Just need to agree on price, get the buyer to issue a cashier's order and go LTA to do the transfer paperwork. Transfer fee usually paid by the buyer, which, if I'm not wrong, is 3% of the PARF value. After that, call your insurance co to terminate your insurance and hopefully get some money back

 

However, if you do know of some finance institution who gives out 2nd hand car loan, you could recommend it to the buyer and get some comission from the finance institution

[Fondue]

go to the used car section on sgcarmart and you'll get a rough idea what's the value of your car.

 

if you are changing t a new car, trading-in to the AD will be the most convenient, but if you are willing to source amoungst the used car dealers and do with a bit of inconvenience, you could save a few thousand bucks.

 

I got almost 2k more for my previous ride by selling to used car dealers instead of trading in to AD, but had to go without car for almost a week.

Edited February 20, 2007 by Fondue