Selling used car in Malaysia is no easy feat, but it’s not all complicated either. While there are many ways to sell used cars in Malaysia, selling it online is the easiest and most preferred choice.
As technology advances, everything is at the tip of our fingers! We have seen time and time again how Malaysian consumers love this idea with the trends of online purchases!
Fortunately, it works the same for our automotive industry too! When it comes to buying and selling used cars in Malaysia, there are a few ways to go about it.
Many opt for the easy way, which is to sell directly to a dealer. Unfortunately, that will cost you some money. Even worse, if you don’t have enough knowledge and negotiation skills, you may get ripped off!
Another common method of selling used cars is by cash. Although it’s a popular method, as we have seen previously, only a few buyers are likely to buy a used car in cash for more than RM20,000.
However, if these two options do not sound convincing, you can also start selling your used car online. There are many platforms in the market to help you do so, such as ourselves, Motor Trader!
Whether you are buying or selling a used car, research is crucial. Take time to understand the common practices, recommendations, and current updates.
Keep on reading as we go through the steps to selling your car online.
Selling Used Car Online: What To Do
1. Price Tag
This is undoubtedly the most important part of the process. Set a price but never price your car for what you assume it to be.
Here are some possible scenarios should you set your price blindly. One, you’ll turn away potential buyers with prices that are too high. Second, you will experience a loss with prices that are too low.
Generally the price of a secondhand car relies on several factors, including:
- Manufactured Year
- Vehicle Condition
- Market Demands
- Record of Auto Repair
Do your research on pages such as Motor Trader, Mudah, Carsome to benchmark and find the best price for your car.
2. Car Loan
Next, check your balance car loan! In order to sell your car to a new buyer, you’ll first have to make that car yours.
If you have a hire purchase loan, the bank will give a total payment amount should the debt be paid immediately, including an early settlement discount (if any).
3. Car Condition
If you want to sell your used car at a high price, it is only natural to ensure some paintwork or repair dents on the exterior before listing the car.
Usually, the parts that often need to be repainted and repaired are the front bumper, front bonnet, roof, rear bonnet, and rear bumper.
In addition, clean every inch of your car. Yes, you read that right! Even the engine parts need to be cleaned. Picky buyers will check the engine bay; having grease and dirt won’t look good for you.
Never forget the interior! This step plays a huge part in your customer decision.
Imagine your prospect buyer saw a cockroach inside your car. You know what they say, if your car has a cockroach, it’s no longer your car but the cockroach’s instead.
Overall, investing in a good deep cleaning for your car’s interior is a good decision. Go the extra mile if it’s possible. Polish and wax the car before putting it up for sale.
To conclude, scratches, dents, and cleanliness of your car affect your secondhand selling price. Best to take these steps and consider it an investment for a higher return.
4. Service and maintenance
If your car has been regularly serviced, you may skip this step but be sure to keep your services and maintenance record of the vehicle.
It is a plus point for buyers and a great way to get a better price for your car.
However, if your car is old and has traveled up to 200,00km, this step might be necessary to determine if any internal damages are causing weird noises or vibrations.
Some of the parts that your mechanics will inspect are the following:
- Brake pads
- Shock absorbers and mounting
- Absorber link
- Lower arm
- Radiator coolant
- Radiator water pump
- Drive shaft
- Gearbox lubricating oil
- Brake caliper pin
- Air conditioning system
5. Test Drive
Once you have an interest from a buyer, naturally, they will ask for a test drive. It is also when your customers will have a look at your car up close.
Choose a location with good lighting and a good path! Having a well-paved and smooth route during the test drive will help your buyers have a good experience with the car and convince them to proceed with the purchase.
6. Document Preparation
As for sellers, here are some documents you need to prepare to ease your journey.
- Car Grant (RC) or Vehicle Ownership Certificate (VOC)
- Identification card or passport
- Import Permit (AP)
- Buying invoices
Additionally, you are urged to maintain all transactional records, associated paperwork, and repair bill receipts in case your prospective buyer requests them.
In order to lawfully transfer ownership of a vehicle, the Malaysian Road Transport Department (JPJ) requires a B5 report.
It is an inspection conducted by trusted parties, mainly PUSPAKOM, to protect potential buyers from buying or owning illegal vehicles such as cut-to-size vehicles.
Car owners can arrange for PUSPAKOM inspection via myPUSPAKOM, an online system that enables our customers to make inspection appointments and payments. It is available online at www.mypuspakom.com.my or MyPUSPAKOM mobile app.
Overall, PUSPAKOM inspection consists of two parts, B5 inspection and B7 inspection.
B5 Report: This inspection helps new car owners from purchasing or possessing a hazardous and illegal cut-and-joined vehicle, also known as ‘kereta potong’.
B7 Report: This inspection ensures that the used car is still eligible and safe to be on the road. It covers additional inspection points, including emissions, tire alignment, brakes, and speedometer.
The B5 report cost RM35, while the B7 report cost RM70.
This system helps to manage your time better and make your booking process easier and faster as all can be done online anytime. Therefore, there is absolutely no reason not to have the report.
Moreover, without this report, JPJ will reject your application, and you won’t be able to change the ownership of the vehicle.
Selling Used Car Online, Yes Or No?
Selling your used car online is an easy and convenient way. Compared to selling a secondhand vehicle using the trade-in method, owners can get from 10% – 30% higher in price by selling their car directly to buyers.
Overall, it is relatively simple and easy. Especially, if you have a good car brand and have been maintaining it regularly.
Besides, if you’re lucky, you can get enough to cover the deposit for your new car.
Furthermore, by listing your car online such as Motor Traders, you’ll be able to reach more potential customers nationwide.
Sell your used car online via Motor Trader! Here’s what you need to do start selling:
- Visit us at www.motortrader.com.my
- Login to your Dealer/Agent account or click HERE to create one.
- Fill in your details
- Wait for account verification
- List your products
- Start selling!
Furthermore, you can also sell plate number and spare parts too! If Motor Trader is not a one stop solution for your car needs, we don’t know what is. Happy selling (read: and shopping)!