Car Advise
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smurf:
how to sell car ha?
Put ad on sgcarmart.com, $35 or so
I sold 2 of my cars this way. Believe me, worth the effort coz dealers always cut your throat. -
TTLauPeh:
Insurance premium for Subaru cars is very high.
Not sure about the normal Impreza but for WRX, yes very high. Then maybe heyhoe, you should look at Mitsubishi Lancer EX. Insurance for that one may be lower and cheaper to maintain. -
cherrygal:
how do u transfer the car to the next owner and handle the loan for the buyer? i know dealer always cut my car price, maybe i will DIM this time....smurf:
how to sell car ha?
Put ad on sgcarmart.com, $35 or so
I sold 2 of my cars this way. Believe me, worth the effort coz dealers always cut your throat. -
There are instructions listed on sgcarmart website for direct sellers. Once deal is struck, you get a deposit. When buyer has arranged his loan and insurance, you get the balance payment done (in cashier’s order). Then Owner and Buyer meet at LTA (Sin Ming) to transfer the car.
For loan, once you put the ad in sgcarmart, many pple will send you sms to tell you they can handle the loan for your buyer. Tell your buyer to go to them or go direct to any financing company (eg. Hong Leong, GE Money).
You must let your own insurer know when to stop the coverage and after the transfer, show the transfer document to your insurer to get them to refund the balance premium to you.
If your own car loan is not yet fully repaid, call your financier and ask them to calculate the total amount you need to settle the loan, including any penalties. Usually they want to have a cashier’s order for this amount as personal cheques take a long time to clear. You take that cashier’s order and go personally to the financier and settle the paperwork. It may take 2 - 3 days for them to process this and "release" the car as fully repaid on the onemotoring.com system. It is only when your car is released on the system that you can do the transfer at LTA.
So in all, it should not take more than 1 week for the handover if you and buyer are efficient.
A little effort, but worth the money. Dealers usually give you only $2-3K above scrap value. Go search sgcarmart and see the selling price for cars your model and age. Price it around there and make sure you don’t make too much of a loss after deducting the loan settlement. -
Thank u so much cherrygal.
I will go check out sgcarmart for details. If there is no loan for my car that means there will be one step less. :celebrate: -
Word of warning though, you must not mind having to take potential buyers out for test drives, listen to buyers say bad things about your car, try to bargain down etc. Then there are buyers who waste your time too… if you have no time to deal with such pple, then you can choose to let the dealers have it, but they will charge you at least $5K - 10K to do this dirty job. Worth it?
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Need some advise…
We are thinking of transferring my car to my hubby as owner, cos he gets a higher NCD discount (he gets 50% and i only 10%) on the car insurance… Anyone has advise on how to get it done ourselves? We hope to do it ourselves so as to avoid paying any agent fees…
Have a few qns which i hope some pros can help to answer
1. The NCD discount is applicable to 2nd car?
2. For the loan, can i just transfer my loan to him? If cannot, how can we secure a loan at the original loan amt, n not the market rate? Does the financier look at market rate of car to determine the loan?
Need to know ways to secure loan at the old selling rate, since current mkt rate of 2nd hand cars are much higher… anyone with ideas, pls advise. Thanks! -
cherrygal:
Word of warning though, you must not mind having to take potential buyers out for test drives, listen to buyers say bad things about your car, try to bargain down etc. Then there are buyers who waste your time too... if you have no time to deal with such pple, then you can choose to let the dealers have it, but they will charge you at least $5K - 10K to do this dirty job. Worth it?
*LOL* reminds me of that time my colleague want to get this COE car many eons ago...a little toyota starlet or something like this.
We went to meet at some big open carpark...he got into the car and really 'loog' (whack) the engine....typical young man testing used car....the owner face was like.... :shock: -
Just want to say thanks for all the feedback. Dh finally bought the Subaru. Just hope that it will last and not too much maintenance problem.
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