Procedure for selling used car to direct owner

[Sio07]

Once under your name, it is very difficult to claim from the previous owner.

 

Imagine if you are the former owner, what would you have said? like to be along the line "How I know what you did to the car after take-over?"

 

So.... make your own conclusion....

[Archie]

Sorry to hijack..

 

Since we are on the topic on selling car, does anyone know of workshop that provide package to touch up the cars (polishing, repairing marks,etc..) before selling? Many thanks!

 

[Little_prince]

why waste money before selling??

[Archie]

Cos I want to touch up and sell my car as a direct owner. I just got a quotation from Quotz (sgcarmart) offering me ridiculous price of 25-28k for my car when similiar make and registration date cars are selling at $36k in sgcarmart... like that I might as well sell it myself right?

[Ayotee]

Cos I want to touch up and sell my car as a direct owner. I just got a quotation from Quotz (sgcarmart) offering me ridiculous price of 25-28k for my car when similiar make and registration date cars are selling at $36k in sgcarmart... like that I might as well sell it myself right?

 

may i know wat car u selling?

[Archie]

I am selling a honda city 2006 model. Please PM me if interested

[Throttle2]

i always do this.

 

very easy, people buy from me in full cash, i buy from others in full cash.

just go LTA give money/bank draft, sign form, handover car, all done within mins.

 

 

[Snaem85]

just 2 qs guys.

 

1) am i right to say, i have to f/s my loan first en can go lta transfer name and collect CO from buyer? like that means i must really have that much cash in my bank? no $$ en how?

 

2) selling car in stock condition or with bodykit better?

 

thanks!

[Spooner200469]

Hello Guyver, since you provide services to handle such paper work, can I have your contact please? I am keen.

 

Thanks

Spooner

[fancythat]

hi bro, i read some very old threads on xfer of ownership.
im gonna buy a car from a direct owner, but the thing is that the owner has an outstanding loan of 18000. he is asking me to clear his outstanding loan amount to his Bank and top up the rest of the amount to him in either cash or cashier order cheque. 

Would seek your advice, if i go down to the bank together with him, and settle his outstanding loan etc, will the bank give him a release form immediately saying that he has settled his outstanding loan. because i understand from LTA that he will needs to settle his outstanding loan then can do a transfer of ownership of the vesicle. 

If bank system cant update straight and wont be able to give him a release letter, what would you advice bro ?

 

 

PS first time doing a xfer by my own..

•  

[Soya]

 

hi bro, i read some very old threads on xfer of ownership.

im gonna buy a car from a direct owner, but the thing is that the owner has an outstanding loan of 18000. he is asking me to clear his outstanding loan amount to his Bank and top up the rest of the amount to him in either cash or cashier order cheque.

 

Would seek your advice, if i go down to the bank together with him, and settle his outstanding loan etc, will the bank give him a release form immediately saying that he has settled his outstanding loan. because i understand from LTA that he will needs to settle his outstanding loan then can do a transfer of ownership of the vesicle.

 

If bank system cant update straight and wont be able to give him a release letter, what would you advice bro ?

 

 

PS first time doing a xfer by my own..

If u not taking loan, seller to clear his own loan, wait for LTA release and then go down to LTA Sin Ming to do transfer & pass him cashier order.

 

If u taking loan, both your finance company will talk n settle.

 

Never clear loan on someone’s behalf unless u wanna give away a free car

[Vratenza]

Any update to this procedure?

 

If I am the buyer, what is the procedure?

 

 

Please help correct if I am wrong:

 

1) See the car, happy with the car in general, pass $1K cheque as deposit and sign agreement form.

 

2) Ask the seller to send the car to preferred workshop for inspection. I pay for the inspection.

 

3) Once happy with the inspection report, get details of the car for insurance quote. Start the insurance on agreed transfer date.

 

4) Get a bank draft issued in seller's name.

 

5) On the agreed transfer date, go down to LTA together to do the transfer and hand over the cheque in front of the LTA officer.

 

6) drive off with newly transferred car.

[Beehive3783]

Yup that's pretty much it if the seller does not have any outstanding loan.

 

If there is outstanding loan and buyer paying in full, then have to make a trip down to the loan office, settle the loan first then go straight to LTA to effect the transfer.

 

A bit of trust issues here but that's what my friend did when he was selling his car.

 

Any update to this procedure?

 

If I am the buyer, what is the procedure?

 

 

Please help correct if I am wrong:

 

1) See the car, happy with the car in general, pass $1K cheque as deposit and sign agreement form.

 

2) Ask the seller to send the car to preferred workshop for inspection. I pay for the inspection.

 

3) Once happy with the inspection report, get details of the car for insurance quote. Start the insurance on agreed transfer date.

 

4) Get a bank draft issued in seller's name.

 

5) On the agreed transfer date, go down to LTA together to do the transfer and hand over the cheque in front of the LTA officer.

 

6) drive off with newly transferred car.

 

[Vratenza]

I would hesitate to settle outstanding loan for the seller, because between the settlement of the loan at the bank and LTA handover, anything can happen.

 

Yes trust issue...unless the seller is my family or long time friend.

 

Yup that's pretty much it if the seller does not have any outstanding loan.

 

If there is outstanding loan and buyer paying in full, then have to make a trip down to the loan office, settle the loan first then go straight to LTA to effect the transfer.

 

A bit of trust issues here but that's what my friend did when he was selling his car.

 

[UncleAtas]

Any update to this procedure?

 

If I am the buyer, what is the procedure?

 

 

Please help correct if I am wrong:

 

1) See the car, happy with the car in general, pass $1K cheque as deposit and sign agreement form.

 

2) Ask the seller to send the car to preferred workshop for inspection. I pay for the inspection.

 

3) Once happy with the inspection report, get details of the car for insurance quote. Start the insurance on agreed transfer date.

 

4) Get a bank draft issued in seller's name.

 

5) On the agreed transfer date, go down to LTA together to do the transfer and hand over the cheque in front of the LTA officer.

 

6) drive off with newly transferred car.

For point 5.

 

Is it a standard SOP to hand in front of the officer?? Will the officer acknowledge as a witness if any issue arises?

[Vratenza]

Good question. I have never done it before, only post what I gathered from reading through the thread.

 

Anyone who has actually done it confirm?

 

For point 5.

 

Is it a standard SOP to hand in front of the officer?? Will the officer acknowledge as a witness if any issue arises?

 

Edited May 24, 2018 by Vratenza

[Vratenza]

Anyone tried this supposedly free service?

 

 

 

http://connect.sgcarmart.com/

 

 

 

Does it mean that as a buyer, I only go down to SgCarMart's office to make payment and they do the transfer for me?

 

 

 

Skip the LTA transfer step?

[UncleAtas]

Good question. I have never done it before, only post what I gathered from reading through the thread.

 

Anyone who has actually done it confirm?

 

I believe its only a form of own self want to feel protected by handing over the cheque in front of a govt official. What I did was go to staircase and we did the counting and handing over.