Nt30 Neutral Newbie March 8, 2009 Share March 8, 2009 My friend just sold his car to a used car dealer at AML, #03-xx, upon handing over on the third day, he requested for casher's order, but the dealer told him that they dun issue C.O. only cross chq to be issued. My friend's car got no finance outstanding, PIN number has been taken by the dealer. So he LL got no choice to accept the cross chq, but only can hand over car after 4 pm why can't hand over before 3pm? Any bro come across same problem? ↡ Advertisement Link to post Share on other sites More sharing options...
Fcw75 Hypersonic March 8, 2009 Share March 8, 2009 Some dealers do. My fren sold his car to a used car dealer at Turf City and the dealer gave him a cashier order when he handed over the car. After that, they went to LTA together to do the transfer. Link to post Share on other sites More sharing options...
Ghostrider 3rd Gear March 8, 2009 Share March 8, 2009 They may wanna hold your cash over for another day. Better insist that they give the cross cheque immediately once you hand over the car. If not....call the deal off. Link to post Share on other sites More sharing options...
Ultramega 1st Gear March 8, 2009 Share March 8, 2009 My friend just sold his car to a used car dealer at AML, #03-xx, upon handing over on the third day, he requested for casher's order, but the dealer told him that they dun issue C.O. only cross chq to be issued. My friend's car got no finance outstanding, PIN number has been taken by the dealer. So he LL got no choice to accept the cross chq, but only can hand over car after 4 pm why can't hand over before 3pm? Any bro come across same problem? You mentioned "PIN number has been taken by the dealer".... What PIN? Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged March 8, 2009 Share March 8, 2009 (edited) when dealer need to full settle a car with the banks, they need CO. So i think your fren been fooled. good luck. Maybe you can ask your friend call LTA to stop the transfer. But pls inform the dealer first, say chq clear liao then can do transfer Edited March 8, 2009 by Galantspeedz Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged March 8, 2009 Share March 8, 2009 most likely to transfer the ownership of the car. Link to post Share on other sites More sharing options...
Ysc3 Twincharged March 8, 2009 Share March 8, 2009 DO NOT ACCEPT CHEQUES !! Link to post Share on other sites More sharing options...
Ysc3 Twincharged March 8, 2009 Share March 8, 2009 DO NOT ACCEPT CHEQUES !! i still have 4 SCB cheques - made out in my name - amount to abt $7k for monthly repayments issued by a used car dealer in 2005. tried banking in twice but bounced twice. Shop already moved, can't find the guy anymore. Link to post Share on other sites More sharing options...
Rickster 5th Gear March 9, 2009 Share March 9, 2009 You mentioned "PIN number has been taken by the dealer".... What PIN? PIN for de-registration of the car. If u want to export the car, you will have to send it to the Export Processing Zone. When your car entered that area, it will be deregistered on the spot. In order to do that, they will need a PIN from LTA. That PIN can only be obtainable by the car owners. When u sell the car to the dealer to export, you have to pass them the PIN number so that they can drive it to the EPZ and de-register it on the spot for you. Link to post Share on other sites More sharing options...
Nkps 1st Gear March 9, 2009 Share March 9, 2009 You mentioned "PIN number has been taken by the dealer".... What PIN? for transfering the ownership. simples way, since dealer dun issue CO, ask for cash instead. anyway, if the dealer has the PIN already, he can actually transfer the car anytime, dun even need to go down LTA with the owner Link to post Share on other sites More sharing options...
Carmour 4th Gear March 9, 2009 Share March 9, 2009 Its industry practice not to issue cashier's order unless the customer specifically asks for it. It costs $10 to buy a cashier's order, and you have to go queue up at the bank to get it. So its pretty much a hassle. Anyway, bounced cheques are fraud cases. You can make a police report. Link to post Share on other sites More sharing options...
Mcf777 Turbocharged March 9, 2009 Share March 9, 2009 cash cheque under your name is the best. ask them to accompany you to the bank. Link to post Share on other sites More sharing options...
Hamburger Hypersonic March 9, 2009 Share March 9, 2009 Its industry practice not to issue cashier's order unless the customer specifically asks for it. It costs $10 to buy a cashier's order, and you have to go queue up at the bank to get it. So its pretty much a hassle. Anyway, bounced cheques are fraud cases. You can make a police report. fraud case or not is another thingy. Proooblem is car is lost n owner still holding a piece of worthless paper Link to post Share on other sites More sharing options...
Nt30 Neutral Newbie March 9, 2009 Author Share March 9, 2009 You mentioned "PIN number has been taken by the dealer".... What PIN? Every car there is a transaction PIN number when you want to transfer the ownership. To collect it from LTA need to sign a form - ESO4 and produce the original IC of the seller. Link to post Share on other sites More sharing options...
Nt30 Neutral Newbie March 9, 2009 Author Share March 9, 2009 (edited) They may wanna hold your cash over for another day. Better insist that they give the cross cheque immediately once you hand over the car. If not....call the deal off. May be you are right, hold your cash for one more day, cause the chq can only bank in on the next day and clear on day after next..What a "sub dealer." -Y?? Edited March 9, 2009 by Nt30 Link to post Share on other sites More sharing options...
Tkseah Turbocharged March 9, 2009 Share March 9, 2009 When u buy car from 2nd hand dealer, they say cheque not allowed, must be either cashier order or cash.. When u sell car to 2nd hand dealer, they say give u cheque.. Double standard lah.. if me I will not accept.. Link to post Share on other sites More sharing options...
Ultramega 1st Gear March 9, 2009 Share March 9, 2009 PIN for de-registration of the car. If u want to export the car, you will have to send it to the Export Processing Zone. When your car entered that area, it will be deregistered on the spot. In order to do that, they will need a PIN from LTA. That PIN can only be obtainable by the car owners. When u sell the car to the dealer to export, you have to pass them the PIN number so that they can drive it to the EPZ and de-register it on the spot for you. Oic, thanks. I learned something new today. Link to post Share on other sites More sharing options...
Application9999 Clutched March 9, 2009 Share March 9, 2009 Its industry practice not to issue cashier's order unless the customer specifically asks for it. It costs $10 to buy a cashier's order, and you have to go queue up at the bank to get it. So its pretty much a hassle. Anyway, bounced cheques are fraud cases. You can make a police report. Frankly...bounced cheques is nothing...i kana once by a furniture seller..police said go small claim court and at the end..the seller declared bankrupt and my $ go down the drain....in this time...any way to cheat $...people will do it..so be careful ↡ Advertisement Link to post Share on other sites More sharing options...
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