Car buyers and sellers, here is everything you need to know about buying and selling your car in Malaysia. This guide offers some tips to ensure you get the most out of your transaction.
Whether you are buying or selling your vehicle, the entire process can be a tricky affair, especially if you are doing it on your own. Here is a simple checklist to help make the process slightly easier.
Things To Take Note Of
There are three things to take note of before buying a used car
- The car must be well-maintained. Some scratches and paint chips are to be expected, and if it is an old car, expect some rust. However, you do need to be on the lookout for problems that can cause catastrophic failure of parts such as a cracked engine block or shoddy alignment.
- The mileage has to be relatively low. The higher the mileage, the higher the chance of wear and tear. This increases the depreciation of the car.
- The car must be priced according to fair market value. If the price looks too good to be true then it probably is.
Before you actually buy, you need the proper documentation which includes the car's registration card, the service records as well as grant records.
When you accept the delivery of the car you must make sure that there are two keys, the spare one and the primary one. The same goes for if you are selling the car. You must have both keys.
If you have lost the spare key it is advisable that you replace it as soon as possible. You will also need to ensure that the car is properly cleaned, inside and out whether you are buying or selling the car.
Test Driving And Inspecting The Car
Now you have seen the car, you have to first inspect it. Take this time to familiarise yourself with where everything is such as the switches for the headlights and turn signals. Inspect the engine, including under the car. Make sure that there are no leakages of any fluids be it oil or coolant.
Then look closely at the paint and the panel gaps. Make sure there are little to no nicks on the paint. For the panel gaps, ensure the spacing between gaps is still consistent throughout.
Next, it is time to test drive the car. It is advisable to drive the car at a constant speed. Remember to keep your ears peeled for any rattles or any strange noises from the engine, especially when shifting and rev-matching. You do need to get a feel for changing gears as well.
Any problems should be brought up to the seller and a review of the maintenance record is needed.
Why The Documents Are Important
As mentioned before, maintenance records are used to check whether any accidents are recorded. The registration grant is to check how many owners have owned the car.
You will need Puspakom inspection papers (B5 chassis and B7 engine) to settle outstanding loans and bank papers. You will also need to go to the JPJ and register a fingerprint. Your car will be delivered after settling all the paperwork.
The Process Of Selling A Car
There are two options for drivers looking to sell their car. They can either sell their car privately or use a transparent and reliable car selling website.
There are a lot of fake buyers online as compared to the little number of genuine buyers. And even if you get a genuine buyer, that does not mean that they are guaranteed to be committed to the deal you are looking for.
Before you even hand over the car, a car inspection has to be done at Puspakom two times to acquire all the documentation. This is a very tiresome process and employing a representative to do this is very expensive as well. The documentation then has to be transferred to the bank for them to complete loan settlements and deposits.
But wait, there's more! You need to personally go to the nearest JPJ (Road Transport Department) and perform a thumbprint scan. This will help to transfer ownership between you and the seller, and only after doing everything in the above paragraph will you have sold the car successfully.
The whole process takes more than two weeks and that's assuming you get a keen buyer.
This is where we come in. At Motorist Malaysia, we make sure the entire process of selling used cars is simplified for car owners. If you are looking to sell your cars quickly, we guaranteed to help you find the highest selling price within 24 hours.
There are only three simple steps to transact your vehicle quickly:
1) Submit your vehicle details
2) Wait for our quote
3) Set an appointment if the price is right
At Motorist Malaysia, we even handle the necessary documentation and paperwork to ensure a smooth and quick handover. Here's what our customers have to say about our service.