Process of Selling My Ride to Cash Buyer.

JacEK

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Hi all, hope i've posted in the right section.

Seek for experience forumers on my current problem.

Am selling off my ride to a cash buyer.
He is confirming on the purchase but both of us has no experience on this.

How the process should go?
While the buyer requires to transfer the ownership to his name and meantime I am expecting to receive the cash payment from the buyer.

Neither one of us willing to proceed 1st, meaning, he refuse to bank-in the cash 1st before the name transfer and I am also not willing to change the ownership without receiving payment from the buyer.

How should I go with it? Is there any better ways to make sure both the seller and buyer in this manner?

Appreciate your advise as I am going to close this deal soon.

Thanks in advance.
 

^pomen_GTR^

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prepare name transfer document first...

when all the documents are ready....


set time and place to meet...(nearby jpj/puspakom would be better).....

use bank transfer style......u go with him check after bank transfer done give him the document and wait until the name change proccess done....

later go minum teh tarik.... :biggrin:

use bank recipt as proof...and re-print/copy the recipt for backup :adore:
 

JacEK

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thanks bro for t he advise.
Meaning to say, he still has to bank-in to me 1st right?
Meantime, while he transfer, I has to be with him and go straight to JPJ for name transfer, am I right? Does the name transfer can be doned within 1 day or on the spot with all the documents ready?
 

^pomen_GTR^

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thanks bro for t he advise.
Meaning to say, he still has to bank-in to me 1st right?
Meantime, while he transfer, I has to be with him and go straight to JPJ for name transfer, am I right? Does the name transfer can be doned within 1 day or on the spot with all the documents ready?
yep....he still have to bank-in first....


but for some added peace of mind u can hand him some of the document first such as the car grant and name transfer application form while at the bank and u keep the "owner release letter"....


if the car stock standard and all the documents ready and clean without backdated summons...yes everything can settle in one day.......(faster if using runner...few hours can settle already while u sitting at mamak stall with the new owner waiting runner settle the car's proccess) :biggrin:


i forgot what exact document needed....but u can check here>> Panduan Tukar Hakmilik Secara Sukarela :adore:
 

jimmyae101

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walau...mr postmen gtr know lot about jpj process lo...normal if u no sure how to do,better get runner do for u,bank in or cash dpayment few hundand depend what value of ur car,10% after change name make sure new owner pay all of balance of value ur car lo.i have to do myself too when sell off my car to my best buddy,yes,i trust him and he trust me,so i change name first then he pay me full after getting all document with his name write down on paper as new owner of seg ae101 bt 20v :biggrin:
 

^pomen_GTR^

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jimmy...didn't la..this thing i learnt a bit from my fren who is fulltime doing runner job..... :adore:
 

kumar22mostwanted

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ok ive been here before and i realised it definitely requires some degree of trust between both parties
in my experience i was the seller as well and the buyer paid me first then i took him to the jpj myself and we did the transfer ownership together
this is a very easy process u dont need a runner to do it if u have the time plus it will probably be more assuring to the buyer if both u and him go there and sign and submit the papers directly
but im sure as the seller you will be never willing to transfer ownership of the car beforehand and thats understandable
because when it comes to these things the buyer really needs to trust the seller
 

DanzEterna

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the last time i did that, transaction was done at a bus stop, i brought my laptop,
he wired the money thru cimb clicks, i checked my account, money was there, sign K3 form, & a few other docs (can be printed via JPJ.gov.my), make sure sign extra copies...incase u make a alphabetical mistake.

cant remember much leh as it happened couple of yrs ago.
 

liz@rd

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haha how ironic , i just COD-ed last night for my putra ...
the process :-
- buyer seller agreed upon the price
- buyer bank in
- seller check amount
- seller satisfied , seller give geran
- buyer used runner (both parties are not free to attend name transfer)
- kautim

trust is very important here , buyer banked in and collected geran then later the night only took the car , so of coz honesty is the key here , good luck bro ...
 

kumar22mostwanted

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haha how ironic , i just COD-ed last night for my putra ...
the process :-
- buyer seller agreed upon the price
- buyer bank in
- seller check amount
- seller satisfied , seller give geran
- buyer used runner (both parties are not free to attend name transfer)
- kautim

trust is very important here , buyer banked in and collected geran then later the night only took the car , so of coz honesty is the key here , good luck bro ...
yeah definitely requires some degree of trust if both parties paranoid sure difficult as no party will be willing to act first
 

liz@rd

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yeah definitely requires some degree of trust if both parties paranoid sure difficult as no party will be willing to act first
to be safe than sorry , i mean for me were merely trust , i alrdy had the cash banked in , i could have done something sinister but he trusted me , but of coz my intention were good , and we are all happy in the end ...
 

kumar22mostwanted

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to be safe than sorry , i mean for me were merely trust , i alrdy had the cash banked in , i could have done something sinister but he trusted me , but of coz my intention were good , and we are all happy in the end ...
yeah my incident was the same as well
he had paid me the full amount of the car without me giving him any documents or whatsoever to guarantee transfer of ownership
so i guess he trusted me quite a bit as it wasnt a small amount either
but at the end of the day we shouldnt misuse peoples trust when it comes to these things
 

jimmyae101

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total agree but some ppl should be careful too as outside really lot of many kind of ppl,normally lot of us not only sell car to friend,family,best buddy but to someone we know nothing about them.First receive call from someone who are look car as we have adv in paper/mag/or tell to everyone we know "i want sell off my car,let me know if any of ur friend wan,price still can nego".2,meet up,mamak talk,view car,test car(both parties,of cuz worry he drive away ur car),ok 3, bank in dpayment or full sum,go to jpj kautim it in few hour if everything paper got.(car no more loan,easy) 4,bank in the balance money if got and pass key,most important be honest lo..no more copy of d key still in old owner,but some new owner will change all key,alarm too) 5,cheer new owner "all the best bro"bye bye....:driver:
 

EvolutionZ

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seller send the car for puspakom inspection or get a runner to do
sign 2 pcs k1 and 2 pcs tm-ab (seller & buyer) then photocopy ic both then original geran, buy insurance and then submit all to jpj together with a rm100 wang pos.
done!
money...it depends, if u worried, get the buyer to issue a banker cheque and then pass to him when name transfer.

easiest way out is to get a runner do everything with some extra charges...both can lepak at mamak for tehtarik....then.
 

JacEK

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dear all forumers, thanks for the valueable advise.
managed to get the buyer and transaction will be doned by next week.
cash buyer.

my case is, he make 100% payment 1st as he worried i will sell off my car to other buyers.
Then he allow me to use my car till end of the month.
by then, i will go for inspection and do the proper documentations, name transfer together.

thanks all again.