Car selling procedure

[-lanz-]

If i want to sell a car to a person(stranger),what is the procedure?
-Do i need to bring it to Puspakom?
-Need any JPJ approval?

 

[option1978]

Loan still active or fully settled?

Need to go JPJ for the following:

1. Endorse IC for both seller & buyer (need to paste the IC on a JPJ form, fill up the necessary details)
2. Puspakom inspection required prior to transfer

Full details / procedures can be found here http://www.jpj.gov.my/panduan-tukar-hakmilik-secara-sukarela

 

[Izso]

I'm interested to know as well. Puspakom is a definite must from what I understand.

---------- Post added at 08:46 AM ---------- 6 hour anti-bump limit - Previous post was at 08:45 AM ----------

Loan still active or fully settled?

Need to go JPJ for the following:

1. Endorse IC for both seller & buyer (need to paste the IC on a JPJ form, fill up the necessary details)
2. Puspakom inspection required prior to transfer

Full details / procedures can be found here http://www.jpj.gov.my/panduan-tukar-hakmilik-secara-sukarela

When is it "safe" to hand over the ownership of the car? When does the money come into place?

 

[option1978]

I'm interested to know as well. Puspakom is a definite must from what I understand.

---------- Post added at 08:46 AM ---------- 6 hour anti-bump limit - Previous post was at 08:45 AM ----------



When is it "safe" to hand over the ownership of the car? When does the money come into place?

If it's between individual, i guess to be safe, would suggest that after going through the whole process, on the day where final transfer i.e. changing the name on the reg. card takes place, the buyer should be present with amount due (ask for bank draft / banker's cheque since it's not safe to carry so much cash around & personal cheque validity is questionable).

Between individual, a buyer would not agree to deposit huge or full amount to seller, probably only a small amount as deposit while the seller would worry about collecting the balance of payment after the ownership transfer. With that, i guess the best way out would be using bank draft / banker's cheque.

Would usually get runner to do the transfer as the hassle of going through JPJ process can be damn tiring & frustrating. Other than the waiting time, worst would be system down especially of late when their newly introduced computing system seems to be very unstable & keep going down resulting in a lot of back logs.

 

[Izso]

If it's between individual, i guess to be safe, would suggest that after going through the whole process, on the day where final transfer i.e. changing the name on the reg. card takes place, the buyer should be present with amount due (ask for bank draft / banker's cheque since it's not safe to carry so much cash around & personal cheque validity is questionable).

Between individual, a buyer would not agree to deposit huge or full amount to seller, probably only a small amount as deposit while the seller would worry about collecting the balance of payment after the ownership transfer. With that, i guess the best way out would be using bank draft / banker's cheque.

Would usually get runner to do the transfer as the hassle of going through JPJ process can be damn tiring & frustrating. Other than the waiting time, worst would be system down especially of late when their newly introduced computing system seems to be very unstable & keep going down resulting in a lot of back logs.

Thanks for the advice. Do you have any recommended runners?

 

[option1978]

Thanks for the advice. Do you have any recommended runners?

Bro Izso, planning to change car?

My last own transfer was quite a while ago, gotta call up that guy to see if he is still contactable, if so will pass the contact to you.

More recent ones are through car dealers.

 

[Izso]

Bro Izso, planning to change car?

My last own transfer was quite a while ago, gotta call up that guy to see if he is still contactable, if so will pass the contact to you.

More recent ones are through car dealers.

Selling my less favored car. My Wira is staying for now. I don't really trust car dealers unless he's a friend. I know some of the dirty tactics these guys do, especially if their business isn't good to begin with. I prefer to deal direct with buyers.

 

[tangtang22]

Just sold my car so i may be able to help..

So what u need to do is to go puspakom n then to JPJ with seller. Cos now with the mysikap thing, runner may not be able to do it edi. Its really easy n straightforward, n all the forms u need can easily get at JPJ.

 

[DanzEterna]

this is the procedure when i sold my car.
1. car was still under finance, told buyer to go to the bank together & settle my outstanding loan there, bout rm6k++.
2. buyer didnt want to as scared i cheated him.
3. so i paid for full settlement, got the release letter few days later.
4. called puspakom PMI (Premier MObile Service), rm30 if u go to puspakom yourself, PMI costs extra Rm100, total Rm130, they come
to your house to inspect your car, if u have dark tint no choice have to tear it off, cannot kautim as they need to take pic as proof.
5. called buyer told him that puspakom approved.
6. buyer came to house to have a final look at the car & make payment.
7. both of us decided to complete the transaction over at the bank.
8. went to bank, he wired to me the full amount, he sign the acknowledge letter from me, stated that he made full payment etc...
9. handed over the keys to him & drove off.
10. next day met at JPJ to transfer name & thats all.

 

[-lanz-]

Thanks for the info bros
The car no loans(bought cash)

Do Puspakom inspect the car,what kind of inspection?

 

[DanzEterna]

Thanks for the info bros
The car no loans(bought cash)

Do Puspakom inspect the car,what kind of inspection?

check no sambung kereta, tint according to specs & engine # tallies with stated on reg card.
if u are busy & dun wanna spend the whole day in puspakom, i suggest go for PMI.
they are very punctual on their time, my appointment was 1pm, they arrived at 1250pm.
will take bout 20-30 mins from time of arrival to the time u recieve the print out report

 

[Izso]

What if the buyer is getting a loan instead of cash?

 

[Supra_Fanatics]

this is the procedure when i sold my car.
1. car was still under finance, told buyer to go to the bank together & settle my outstanding loan there, bout rm6k++.
2. buyer didnt want to as scared i cheated him.
3. so i paid for full settlement, got the release letter few days later.
4. called puspakom PMI (Premier MObile Service), rm30 if u go to puspakom yourself, PMI costs extra Rm100, total Rm130, they come
to your house to inspect your car, if u have dark tint no choice have to tear it off, cannot kautim as they need to take pic as proof.
5. called buyer told him that puspakom approved.
6. buyer came to house to have a final look at the car & make payment.
7. both of us decided to complete the transaction over at the bank.
8. went to bank, he wired to me the full amount, he sign the acknowledge letter from me, stated that he made full payment etc...
9. handed over the keys to him & drove off.
10. next day met at JPJ to transfer name & thats all.

Acknowledge letter made by you?

What if the buyer is getting a loan instead of cash?

They get the loan and pay to you if not wrong.

 

[DanzEterna]

izso,
if buyer taking up loan, the bank will disburse the money to the seller.


SF,
yes, a simple draft letter will do.

 

[Supra_Fanatics]

izso,
if buyer taking up loan, the bank will disburse the money to the seller.


SF,
yes, a simple draft letter will do.

Can I just use yours as template? :rolleyes:

 

[Izso]

izso,
if buyer taking up loan, the bank will disburse the money to the seller.


SF,
yes, a simple draft letter will do.

Whats the proof that the loan was sorted out and approved?

 

[option1978]

Whats the proof that the loan was sorted out and approved?

Loan documents perhaps. Usually the day after the loan has been approved, the buyer would have made appointment with the bank personnel to sign the documents. Just ask for a copy of the cover letter stating the loan amount, details of the vehicle to be purchased.

 

[DR78]

Latest procedures:

1. Get deposit from seller.

2. Tell him/her apply own loan with the amount minus the deposit. Bank will pay seller full amount and sometimes seller runs away with the deposit.

3. Go to your bank and get your car grant and redemption letter (if u got finance).

4. Seller do puspakom but buyer pays. Then pass all documents to buyer's bank officer.

5. Once his loan approved, go to his bank and sign. I know it can be scary to seller but all transaction and signing done inside a bank is safe. Don't sign anything outside the bank. Legit officers always in the bank.

6. Once received money (call ur bank and find out if ur loan settled) Owner and buyer must go to JPJ personally nowadays for name transfer as need both finger prints. (new rule)

7. After name transfered to new owner, give him the car in agreed condition.