There comes a time when you will bid farewell to your current car, either because you’re upgrading to a better one or you need cash urgently. However, the traditional process of selling a used car isn’t as clear-cut as getting paid and handing over your keys.
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It involves posting an ad for your car on online marketplaces or entering a used car dealership to get a quote. You’d also have to send it for repairs, clean it up thoroughly, and prepare all the required documents needed for the selling process.
But even after going through all that, you might have issues finding a proper interested buyer. This is where CARSOME steps in to make your life easier. We provide you with a trusted way to sell your used car that is easy, hassle-free, and most importantly safe because we will assist you throughout the selling process.
Here’s what you need to know about the process and the documents needed to sell your car.
Related article: A Complete Guide on Buying or Selling Used Cars in Malaysia
What Is the Used Car Selling Process Like in Malaysia?
The process is much simpler if you have settled your car loan fully. But if you haven’t, it can be quite a tedious process if you are going the traditional route – which is selling your used car personally.
The Traditional Way of Selling Your Used Car
- Set your selling price: You will need to find out how much your used car is worth – this depends on factors such as your car’s model, make, year, condition, and many others. You can estimate the price using online evaluators or find out how much other sellers are listing a car that is similar to yours on online marketplaces as a guide.
- Find a buyer: Once you’ve determined your selling price, you have to understand that this may not be the final price you will sell it for as it depends on your negotiations with the buyer. You can look for a car dealer who can also check the value of your car (but this might be risky as he or she could undervalue your car’s worth), or you can advertise your car online or put up a ‘For Sale’ sign-up on your car.
- Check your car loan: If you haven’t settled your car loan, you will need to check the outstanding balance with the bank. In the best-case scenario, the agreed price between you and the seller should cover your outstanding balance otherwise you would have to fork out the additional cost. For example, if you sell your car for RM30,000 but have an outstanding balance of RM40,000 with the bank, you will need to fork out an additional RM10,000 to settle your bank loan.
- Get the car inspected: Once you and the buyer have agreed to a price, you will need to get your car inspected at PUSPAKOM. This is to make sure your car is safe to drive and to confirm that the car has not been stolen and is not a cloned car. They will also make sure the car’s specs follow the legal standards and are free of any illegal fittings, such as over-tinted windows. However, take note of how the buyer intends to pay for the car. For buyers paying in cash, the process is much easier as it only requires the B5 Puspakom Ownership Transfer Inspection. In contrast, the B7 Puspakom Hire Purchase Inspection Report is required if the seller intends to take a car loan to cover the cost. For more information on this, you can refer to our How to Sell Your Car with an Existing Loan article.
The Following Documents are Needed When Selling Your Car:
- Both parties’ Identification Card (IC)
- Original Vehicle Registration Card
- B5 or B7 Inspection Report from PUSPAKOM
- Jabatan Pengangkutan Jalan (JPJ) K3 Form
Sell Your Used Car Quickly, Safely & Conveniently to CARSOME
Selling a used car the traditional way will have multiple back-and-forths that can drag on for days if not weeks. That is if the buyer doesn’t back out of the deal.
But, when you sell your used car to CARSOME, we will handle everything during the selling process for you, including the paperwork, and your car will be out of your hands in less than 24 hours*. Plus, you will receive the payment promptly once the selling process is completed*!
Here’s the Process of Selling a Used Car to CARSOME:
- Book a free inspection: Head over to carsome.my or download our mobile app and click on “Sell Your Car”. Fill in your contact details as well as the details of the car you want to sell and our CARSOME Consultant will contact you to confirm your inspection appointment.
- Attend inspection: Bring in your car for inspection and our certified inspectors will conduct a thorough 175-point inspection on your car — which will only take around 30 minutes, and then we will offer a price for your car on the spot.
- Accept offer: You can choose to accept our offer or put your car up for live bidding where our dealers nationwide will bid for your car, and you may get up to 20 percent* more than market value.
- Receive payment: Once you accept the price, we will handle all the paperwork and legalities for you, including ownership transfer and PUSPAKOM inspection. You will get paid promptly once the selling process is completed*.
Here’s How You Can Sell Your Car to CARSOME via Our App:
With the roll-out of our mobile app, you can now book an appointment on our app, anywhere on the go! Here’s how to set up your car for evaluation:
Step 1: Open the App and Click on Sell Car
On the main page of the app, click on the “Sell Car” option. This should take you to the confirmation page.
Step 2: Scroll Down and Click on the “Get Your Car Price” Button”
Take a moment to go through the instructions on how our selling process works, then hit the button at the bottom of this page.
Step 3: Put In the Details of Your Car To Get a Quote
On this page, fill in all the information you have on your car via the draw boxes. Take your time to fill in your model, year, variant, and mileage. Once you’re done, click on the button below! Our staff will contact you shortly for the appointment.
Before Going for Your Inspection Appointment, Make Sure You Have These Documents:
- Owner’s IC/Passport (If selling as expatriate)
- Original Vehicle Registration Card
- Approved Permit (AP) Forms (for recond cars)
- Purchase Invoice (for cars purchased by cash)
- Outstanding hire purchase loan statement (if applicable)
So, if you’re ready to experience an easy, hassle-free, and safe way to sell your car, we’ve got you covered. Visit carsome.my or download our mobile app and book a free inspection today!
Also, if you are a non-Malaysian and want to sell your car through CARSOME, we can assist you with that! Click here for more information.
*Terms and conditions apply.
Related article: Enjoy Up to RM1,500 OFF Any Car When You Trade In Your Old One: Upgrade Your Ride Now!
Download Our App & Start Selling!
Download our app here to browse the latest cars in our inventory all at yourin your fingertips. To sell off your car, just tap on the “make appointment” button in the app. Get all your documents prepared on the inspection date to speed up the process, and you’ll receive your payout promptly*.
