What is the fatest time to completed buy a car?

[Ithunk]

I settled in two day for my current car. Just get call the insurance company to transfer the insurance to the car I am getting, go down get the the next day cert then follow the owner to LTA to transfer the car to me and I give him the cash. Then come home just in time to go to HDB to change the season parking to my new car.

 

ya quite straighforward.....for season parking can just call

[Mllcg]

USD is the #1 counterfeit target in the world. And RMB, also $100 denomination is likely the #1 most smuggled currency due to currency controls.

 

In fact, no individual seller/buyer will take cash for car sale in the US. Always take cashier's check. You never know if the notes are fake.

 

what u mean by currency controls?

 

and i thought USD has 1k notes?

 

[Ithunk]

nope

 

The present denominations of our currency in production are $1, $2, $5, $10, $20, $50, and $100. Neither the Department of the Treasury nor the Federal Reserve System has any plans to change the denominations in use today

 

http://en.wikipedia.org/wiki/Large_denomin...States_currency

[F1f2]

cant wait to get your 1st car?

 

this thread also as information who want buy used car for 1st time.

i quite surprise that the car can be done for all process in 2-3 days if the money have no problem.

because 3 of my friends said, 1 take 1 month, 1 take 1 month and 1 take 3 months after pay deposit.

the dealer said, the paper work is normal to have process 4-5 weeks.

 

see what the used car dealer can do !

 

at least now i know, so if can't find direct buyer, buy from dealer also can be done in 3-4 days

[Ithunk]

cant wait to get your 1st car?

 

its always exciting to get the first car

[Ithunk]

this thread also as information who want buy used car for 1st time.

i quite surprise that the car can be done for all process in 2-3 days if the money have no problem.

because 3 of my friends said, 1 take 1 month, 1 take 1 month and 1 take 3 months after pay deposit.

the dealer said, the paper work is normal to have process 4-5 weeks.

 

see what the used car dealer can do !

 

at least now i know, so if can't find direct buyer, buy from dealer also can be done in 3-4 days

 

buying the newest model of a ferrari or lamborghini will take a year of waiting

 

i believe the same will go for mclaren cars

 

so technically a car purchase can take up to a year or a year and a half

 

unless the vehicle is available ready stock or 2nd hand

Edited November 2, 2011 by Ithunk

[Tanahseng]

do u have a pile of cash? if so, drive and go.

[Nzy]

ya quite straighforward.....for season parking can just call

 

My season parking alittle different. Have to go down to prove that I am the one who owns the car.

[Cdior]

5pm I put 500 deposit.

Next day 12pm collect. But insurance screw up, 6pm than take car .

 

[Jonjees]

hallo,

if i go to dealer, see the car, agree to buy.

how fastest i can get the car with all completed procedure.

example:

is it possible in 2 days?

day 1 go together with seller to lta to change everything/ ownership, settle insurance and rd tax.

day 2 go together with seller to bank to hand over the money and hand over the key

or.. there is some process at lta that need certain days?

 

yes 2 days is the norm.

depends on dealer also.

but if you buy on friday, it might become 3 working days, means tuesday take car.

 

[Gt2929]

Buy 2nd hand car very fast one la, like me 5pm put deposit and sign all the papers and the next morning at 1010am bank called and loan approve....so everything is done in 24hours .

[Jamessoh]

within a few hours. go with dealer with bank/finance to settle money issues and then to LTA to settle transfer.

[F1f2]

within a few hours. go with dealer with bank/finance to settle money issues and then to LTA to settle transfer.

 

for brother that have lot experience, is the above practice is common?

i mean go to bank first then lta?

 

because:

on same day buyer give money to seller, then go to lta, can not transfer, because the car is still under loan, then how?

can call police? under what charge police can do?

 

but if the buyer not good:

on same day go to lta, transfer the name, go to bank, buyer have no money at all, seller can easy call police.

it is really buyer cheat seller.

 

 

[Cwk]

this thread also as information who want buy used car for 1st time.

i quite surprise that the car can be done for all process in 2-3 days if the money have no problem.

because 3 of my friends said, 1 take 1 month, 1 take 1 month and 1 take 3 months after pay deposit.

the dealer said, the paper work is normal to have process 4-5 weeks.

 

see what the used car dealer can do !

 

at least now i know, so if can't find direct buyer, buy from dealer also can be done in 3-4 days

 

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When the buying is done, do something about your shameful english. Being bad is one thing. But you seem to take pride in being sloppy as well.

[Jonjees]

for brother that have lot experience, is the above practice is common?

i mean go to bank first then lta?

 

because:

on same day buyer give money to seller, then go to lta, can not transfer, because the car is still under loan, then how?

can call police? under what charge police can do?

 

but if the buyer not good:

on same day go to lta, transfer the name, go to bank, buyer have no money at all, seller can easy call police.

it is really buyer cheat seller.

 

go to sgcarmart, there are some downloadable documents for selling and buying of cars.

buyer can give money to seller, but everything needs to be in black and white, so thats where the forms are useful.

 

for safety reasons, buyer can instead of giving money to seller, buyer can issue a cashier's cheque to seller's loan company for outstanding amount.

 

seller will then redeem the loan of the car, if this is not done, ownership cannot be transferred.

 

if you are worried, you can always get an agent to do it for you.

but personally i have completed alot of such transactions without issues.

 

if for whatever reasons the transaction cannot be completed. the deposit is forfeited. if seller refuses to sell, the deposit is returned 2x.

 

 

 

[I_RIDE_DEEP]

I sold a 5 year old commercial vehicle for $14k to a buyer (no oustanding loan from my side). It was fast because:

 

1. Day 1: He took a in-principle insurance for the vehicle (i think it was called in prinicple, coz, he wasnt the owner till step 2 was done).

2. Day 2: We went to LTA to transfer. He paid me in personal cheque (not cashier's order), so he saved some more time.

Edited November 3, 2011 by I_RIDE_DEEP

[Jonjees]

I sold a 5 year old commercial vehicle for $14k to a buyer (no oustanding loan from my side). It was fast because:

 

1. Day 1: He took a in-principle insurance for the vehicle (i think it was called in prinicple, coz, he wasnt the owner till step 2 was done).

2. Day 2: We went to LTA to transfer. He paid me in personal cheque (not cashier's order), so he saved some more time.

 

ya cash to cash transactions are the quickest.

but if you are buying with loan, u will need loan approval.

so to quicken the process, one would also concurrently apply for a in-principle insurance (a cover note) for the vehicle.

 

in actual fact for cash transactions, 1 day is possible.

etc 9am, apply for insurance, if the vehicle you are purchasing is not complicated to process, u should get a quote back by 12pm. accept the quote and its good to go.

by complicated, i am referring to cars that are rarer and require some evaluation.

1-2pm can meet seller to transfer at LTA

 

[Ghostrider]

If its a dealer, it can be done within a day if you want..or if he desperate to off load the car...in hours. (provided that its in the morning you start the process.)

 

1) View car. Happy put a deposit. (token sum of $500)

2) Ask dealer to apply for loan/insurance. Loan will take time...insurance you pay money they will issue you cover note.

3) Once loan is approved, ask them to settle the transfer fee

4) You go back and pay what is due to them and drive off.