Selling a car can be a daunting task, especially if you're not familiar with the process. What more if you're trying to sell it without going through a car dealership!
But trust me when I say that, you'll be able to earn so much more if you sold your car yourself. In fact, I know of someone who earned an extra RM6,000 just by selling his car himself!
So, in this article, I'll walk you through the entire process of selling your car on your own! I promise it will be a rewarding experience.
Step 1: Set a price
Research the market and determine the going rate for cars similar to yours.
Take into account that factors like mileage and car condition can affect the price. So, you might have to lower the price of your car to compensate for these factors.
Finally, when you’ve decided on a price, proceed to list your car on sites like mudah.my or Facebook groups. You'll want to include as much information as possible about your car - age, mileage, defects (if any), condition and etcetera.
This is so that potential buyers will feel like they're able to trust you which in turn, may boaster confidence in buying the car from you.
Step 2: Meet buyers
After listing your car, you'll start getting calls from interested buyers. They'll want to know more details about the car and will probably want to test drive and inspect it so be prepared for that.
Potential buyers may also offer a lower price once they've inspected the car. So, don't be afraid to negotiate, especially if you feel like the buyer’s offer is too low.
Step 3: Obtain Vehicle Registration Card
Once you have a buyer, the real work begins. The first thing you need to do is to obtain the original Vehicle Registration Card from your lending bank.
A Vehicle Registration Card is a document that carries the registration of a car and is issued by JPJ. It is done to establish a link between the car and the owner.
This process can take up to three days, so be sure to call your bank and make arrangements in advanced.
Step 4: Car inspection @ PUSPAKOM
The next step is to have your car inspected by PUSPAKOM to ensure that it's roadworthy. To do this, make an appointment through their website and choose your preferred branch.
On the day of the inspection, make sure to bring your IC and the original Vehicle Registration Card. The inspection process typically takes about 20 minutes, if you go at the right time. We suggest booking a slot earlier in the day!
It’s said that PUSPAKOM inspections can be difficult to pass so here are some pro-tips you can consider:
Remove the tinting on your windshield and windows for driver and front passenger.
Make sure all your lights are in working order including headlamps, backlights, break lights, signal lights and even car plate lights.
Ensure there are no defects to the body of your car.
Step 5: Ownership transfer @ JPJ
After your car passes the PUSPAKOM inspection, it's time to transfer the car ownership through JPJ. You and the new owner will need to be present for this process.
At JPJ, both parties will be required to fill out some forms and present the relevant documents like IC and Vehicle Registration Card. You'll also need to pay a fee of RM100 for the process.
Step 6: Say your final goodbye
Congratulations! You've sold your car all by yourself!
But this step will probably be the hardest (emotionally, at least) - parting with your old car. Give it one last spin, take a picture with it and maybe thank it for being of service to you for the past few years.
By following the steps above, you can sell your car for a fair price and avoid paying commissions to used car platforms. This is a great choice if you're not in a rush to sell your car and have some extra time to experiment around.
Remember earlier in the article I mentioned that I know someone who earned an extra RM6,000 simply by selling his car on his own? Well, that some was actually Peter.
If you’d like to watch Peter’s journey on how he sold his 9 year old Peugeot 408 for RM11,000 instead of the offered RM5,000 by Carsome, you can check out the YouTube video here.