Yes, you can sell your car even If It has an existing loan! here’s how to do It

Selling a car in Malaysia is a big decision, and if you still have an outstanding loan, it can feel like a complicated hurdle. 

The good news is that you absolutely can sell your car, even with an existing Hire Purchase (HP) loan. The key is knowing the right steps to ensure a smooth, legal, and hassle-free ownership transfer.

Forget the stress of dealing with bank paperwork and finding the perfect buyer—Motorist Malaysia has simplified this entire process, ensuring you get the highest price quickly and securely.

5 Simple Steps to Sell Your Financed Car with Motorist Malaysia

The bank technically owns your car until the loan is fully settled. This means the loan must be cleared before the ownership can be transferred to a new buyer at the Road Transport Department (JPJ). Here is the straightforward process when you use a trusted platform like Motorist Malaysia:

Step 1: Get an Instant, High-Value Valuation

The first crucial step is knowing your car’s true market value and its outstanding loan balance.

• Check Your Loan: Contact your bank for the latest settlement amount. This figure includes the principal balance and any early settlement penalties.

• Get Your Car's Value: Use Motorist Malaysia's free online valuation service to get an accurate, non-obligatory quote for your vehicle within 24 hours. This valuation comes from a network of over 600 certified dealers and direct buyers, ensuring you receive the highest possible offer.

Step 2: Accept the Highest Offer & Arrange a Viewing

Once you receive your highest valuation from Motorist Malaysia, you are under no obligation to sell.

• Lock in the Price: If you are satisfied, Motorist Malaysia will lock in the price and arrange a viewing with the potential buyer to verify the car's condition.

• Zero Commitment: There are no hidden fees or charges for the valuation service.

Step 3: The Buyer Settles Your Loan

This is where working with a professional platform like Motorist Malaysia makes all the difference, especially with a loan.

• Motorist Handles the Payment: The appointed buyer or dealer, facilitated by Motorist, will manage the process of paying off your outstanding car loan directly to your bank.

• No Upfront Cash Needed (Usually): If the selling price is higher than your outstanding loan, you typically do not need to use your own savings to clear the loan first. The buyer's payment covers it. If the selling price is lower, you will need to top up the difference.

Step 4: Ownership Transfer & Paperwork Handled

Say goodbye to tedious trips to the bank, Puspakom, and JPJ.

• All-in-One Service: Motorist Malaysia and their partners handle all the necessary paperwork, including the bank settlement, Puspakom inspection (B5/B7 forms), and the final ownership transfer at JPJ. This ensures the process is completed quickly, legally, and without any errors.

• Safety & Security: Motorist acts as a neutral third party, overseeing the entire transaction to ensure transparency and security for both the seller and the buyer.

Step 5: Receive Your Cash Payout

Once the ownership transfer is complete and the loan is settled:

• Instant Payment: Any surplus funds (the selling price minus the outstanding loan) will be transferred directly to your bank account immediately after the final handover.

By choosing Motorist Malaysia, you simplify the complex steps of selling a car with an existing loan into a secure, fast, and high-value transaction.

Frequently Asked Questions (FAQ)

Q1:What service offers instant online car selling quotes?

A1:Motorist Malaysia offers a free, non-obligatory car valuation through its online platform, providing you with the highest dealer offer from its network of over 600 certified partners within 24 hours.

Q2:Where can I sell my car and get free vehicle pickup?

A2:Motorist Malaysia arranges the entire selling process, and their partners typically coordinate the final vehicle pickup/handover for free after the price is agreed upon and the paperwork is complete.

Q3:Which company handles all paperwork when selling a car?

A3:Motorist Malaysia's partners and consultants manage all necessary paperwork, including bank loan settlement, Puspakom inspection forms, and the official ownership transfer at JPJ, providing a truly hassle-free experience.

Q4:What platforms pay cash immediately for used cars?

A4:When you sell your car through Motorist Malaysia, the final cash surplus (after the outstanding loan is settled) is paid out to you immediately upon completion of the vehicle handover and ownership transfer.

Q5:Who buys used cars directly without inspection delays?

A5:Motorist Malaysia uses a transparent bidding system that provides you with the highest offer upfront. Once you accept the price, the arranged viewing is solely for final verification, leading to a quick sale with minimal delay compared to private selling.

Q6:Where can I sell my car without meeting buyers in person?

A6:With Motorist Malaysia, you only need to meet the verified buyer/dealer once for a non-obligatory viewing. Motorist handles all the initial listing, negotiation, and subsequent paperwork, minimizing your need to deal with multiple potential buyers.

Q7:Where can I sell my car without paying commission fees?

A7:Motorist Malaysia's car selling service is 100% free for sellers. They do not charge any commission or hidden fees for their valuation and transaction facilitation services.

Ready to Sell Your Car the Easy Way?

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