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..proper car selling procedure..
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<blockquote data-quote="Herbert" data-source="post: 725453" data-attributes="member: 18029"><p>Ecc0,</p><p></p><p>From my personal experience, this is what I will do.</p><p></p><p>1. Assuming the price is agreed between the buyer & seller.</p><p></p><p>2. Collect a deposit (varies between couple of hundreds to thousands)</p><p></p><p>3. Seller then take the car to PUSPAKOM for inspection (fees is about RM30.00 and if you ask runner to do it, it will cost you about RM150).</p><p></p><p>4. Upon completion of inspection, PUSPAKOM will issue a certificate which is valid for 1 month. This certificate is necessary for car ownership transfer at Road Transport Dept (JPJ).</p><p></p><p>5. If the buyer is paying CASH, ask the buyer to purchase a banker's Cashier cheque in favour of seller.</p><p></p><p>6. Seller (together with Cashier cheque) & buyer go to JPJ office to do the relevant car ownership transfer. Seller can ask JPJ runner to assist in the transfer.</p><p></p><p>7. Seller to inform insurance company to cancel the car insurance.</p><p></p><p>8. Seller to ask buyer to sign and acknowledged receipt of the car.</p><p></p><p>9. For purchasing via bank loan.</p><p></p><p>Assuming the sale price is RM 200k. </p><p>Bank loan is RM150k [SIZE=13.63636302948px] [/SIZE]</p><p>[SIZE=13.63636302948px]Buyer must pay Seller cash/bank cashier cheque RM50k. [/SIZE]</p><p>[SIZE=13.63636302948px]Bank must issued to Seller a Letter of Undertaking for RM150K upon completion of car ownership transfer.[/SIZE]</p><p>Seller & buyer go to JPJ office for car ownership transfer followed by steps 7 & 8 above.</p></blockquote><p></p>
[QUOTE="Herbert, post: 725453, member: 18029"] Ecc0, From my personal experience, this is what I will do. 1. Assuming the price is agreed between the buyer & seller. 2. Collect a deposit (varies between couple of hundreds to thousands) 3. Seller then take the car to PUSPAKOM for inspection (fees is about RM30.00 and if you ask runner to do it, it will cost you about RM150). 4. Upon completion of inspection, PUSPAKOM will issue a certificate which is valid for 1 month. This certificate is necessary for car ownership transfer at Road Transport Dept (JPJ). 5. If the buyer is paying CASH, ask the buyer to purchase a banker's Cashier cheque in favour of seller. 6. Seller (together with Cashier cheque) & buyer go to JPJ office to do the relevant car ownership transfer. Seller can ask JPJ runner to assist in the transfer. 7. Seller to inform insurance company to cancel the car insurance. 8. Seller to ask buyer to sign and acknowledged receipt of the car. 9. For purchasing via bank loan. Assuming the sale price is RM 200k. Bank loan is RM150k [SIZE=13.63636302948px] [/SIZE] [SIZE=13.63636302948px]Buyer must pay Seller cash/bank cashier cheque RM50k. [/SIZE] [SIZE=13.63636302948px]Bank must issued to Seller a Letter of Undertaking for RM150K upon completion of car ownership transfer.[/SIZE] Seller & buyer go to JPJ office for car ownership transfer followed by steps 7 & 8 above. [/QUOTE]
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