Documents Needed In Buying A 2nd Hand Car

[mirage_05]

Guys, after a year of searching and waiting, I have finally found the car that perfectly suits my need and taste. My only concern now are the papers needed in acquiring a 2nd hand car.

- What do I need to prepare for the transfer (and how much)?
- What do I need to ask from the previous owner?
- What, in particular, do I need to double check in these papers (to avoid
problems in the near future)

Thanks in advance and more power to your site!

[the_wildthing]

Parang nasagot na yata ito dati... please do a search.


What do you need?

OR - prev owner
CR - prev owner - numbers must match vehicle
If car was previously encumbered, Release of Chattel Mortgage.
Deed of Sale, Notarized. If not yet notarized, get Res Certs of both parties and have it notarized.

If you're buying it from a used car dealer he should take care of the transfer.

What do I need to ask?

Apart from the usual test drive, "anong problema, bakit binebenta," a mechanic's inspection is your best bet.

How much? Anong kotse ba? Kung kasabay na rehistro baka mga 5k. Handa ka ng 10 para siguardo.

[mirage_05]

Sir I have a photocopy of the official receipt and certificate of registration.
It says it was encumbered at DBS Bank Phils. What is Release of Chattel Mortgage and what is it for?