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BUYING AND SELLING GUIDE

MONEY SAVING TIPS FOR THE BUYER
  1. Haggling could cut the final price you pay
    • Call the seller and ask if they're open to reasonable offers
    • Have three prices in mind
      • The price you want
      • A good deal
      • The most you'll pay
    • Use any faults you discover as a bargaining tool
    • Ask them how much they really expect for their car - as soon as they give a price, look them in the eye, make an offer and say 'No more!'
    • Aim high - make an offer that is lower than you are willing to pay
    • Counter offer - the seller should accept or suggest a new price
    • Shake hands on the deal - when it looks like they're about to accept, immediately offer them your hand to seal the deal
TIPS FOR GETTING A BETTER SELLING PRICE
  1. Knowing how to handle buyers can keep your price high
    • Haggle back - buyers will haggle as it's all part of the selling process. Understand how haggling works so that you don't end up giving a big discount
    • Price your car a little bit higher than the going rate - this allows you to reduce the selling price after haggling and make the buyer think they've got a better deal, but set it too high and you may turn people away
    • Counter offer - the buyer should accept or suggest a new price and if you're still unhappy with this, meet them in the middle
    • Never accept a price that you're not happy with - walk away and be confident that you can always wait for the next potential buyer

BUYING A CAR

DO YOUR RESEARCH
  1. Find the car you want by browsing through ads in Motor Trader magazine or do it online at www.motortrader.com.my
    • Compare prices with other similar cars different sellers value their cars differently
    • Prepare a list of questions to ask the seller, such as (what is the condition of the car, has it been in an accident, how many previous owners)
    • Check how much is left owing on the car to the finance company and make sure that the seller has settled the amount fully before you take possession of the car
TAKE A TEST DRIVE
  1. It may seem perfect on paper, but driving the car is the best way to find out if it's exactly what you're looking for
    • Bring along your valid driving license
    • Drive the car from a cold-start if possible - tell-tale signs like juddering, excessive smoke and rattling noises will be less obvious in a warm engine
    • Go through all the gears - make sure you test the car at different speeds and on varying road surfaces
    • Listen carefully for any grinding, screeching or knocking noises as they could indicate problems or undue wear and tear
INSPECT THE PAPER WORK
  1. There are three main pieces of paperwork you need when buying a car - the registration card, Puspakom certificate and service history
    • Registration card - ensure that all the details on the certificate tally with the car and the seller; particularly the VIN (vehicle identification number), number plate, make, model and year. Never buy a car without a registration card even if the seller says it has been sent to the JPJ. Make sure the registration card is genuine bearing the water mark. Also, make sure the seller has the right to sell the car.
    • Puspakom certification - all Puspakom certificates are printed by computer. If you want assurance that a cert is genuine, call the Puspakom enquiry line at 1-800-88-6927 for verification. Remember, a Puspakom certificate is not a guarantee of roadworthiness you should always carry out your own checks too
    • Service history - Check for a service book full of garage service stamps and check the mileage tallies with that shown on the dash. A pile of receipts is even better; a conscientious owner will keep all old bills so you can tell what work has been carried out. Don't forget other bits like installation certificates for aftermarket alarms, for instance
HAGGLE FOR A LOWER PRICE
  1. Haggle for a lower price
    Buyers rarely pay the advertised price for cars and will usually expect to haggle. If you're dealing with a trader, you'll have room to negotiate or get a bit more for your part exchange. Failing that, ask them to chuck in a warranty, mats or other features you fancy (GPS, window tint). Private sellers are also ripe for haggling. Try and secure a better price for the car especially if the tyres are worn or the road tax is close to expiry

SELLING YOUR CAR

MAKE IT ATTRACTIVE
  1. A bit of elbow grease pays dividends
    • Wash your car thoroughly using car shampoo, a sponge and dry with a chamois
    • Top up the oil and other fluid levels and make sure the tyres are the correct pressure - better yet, give it a full service
    • Drive your car the day before viewing to remove rust from the brake discs and to identify any potential faults
SET A PRICE
  1. Price your car accurately to get a quick sale
    • Research similar cars to get a feel of the market. The cars advertised in Motor Trader are a good resource.
    • Get a used car valuation (this can be obtained from the AAM)
    • Consider depreciation - some cars lose more value than others
PLACE AN AD
  1. Write a great advert and increase your chances of selling
    • Be concise - summarise key features and main selling points
    • Lay down the price clearly - it's frustrating to read an ad without a price
    • Highlight the fact if the car has a full service history and is maintained by official dealers and service centres
    • Use a good photo to flatter your car - a picture communicates much more than words and is vital to make your ad stand out from the rest
DEALING WITH BUYERS
  1. Arrange meetings with buyers during office hours at convenient locations while banks are open for business
    • Make buyers aware that they'll need a valid driving license if they want to take a test drive - this is to protect yourself in case of an accident
    • Suggest a good test route that will emphasise your car's strengths.eg. highway for good cruisers, twisty sections for good handling cars
    • Never let the buyer test drive the car alone. Turn the engine off and keep the keys with you if you are swapping seats
    • Be prepared for buyers to test the performance of your car but make sure they do it safely and ask them to slow down if you feel uncomfortable or if they become too agressive
    • Expect a buyer to haggle - don't be insulted by a low offer, instead counter with freebies like new tyres or a free tank of petrol
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