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  1. Join Date
    Jul 2008
    Posts
    933
    #1
    [SIZE=4]eLoW GuYz...

    I'm planning to buy a 2nd hand car maybe 2 weeks from now. I need your tips about this about the things that I should double check and need to be considered. Some questions I have in mind are:

    1) Should I bring cash with me when I'll visit the owner?
    2) Where should we do the actual payment?
    3) Should the seller pay for the Deed of Sale.
    4) What are the other documents should I ask from the seller.
    5) What's the easiest yet precise way to check if the car is legally sold or not?

    Thank you very much for your replies...
    [/SIZE]

  2. Join Date
    Oct 2002
    Posts
    17,335
    #2
    Quote Originally Posted by erick_214 View Post
    I'm planning to buy a 2nd hand car maybe 2 weeks from now. I need your tips about this about the things that I should double check and need to be considered. Some questions I have in mind are:

    1) Should I bring cash with me when I'll visit the owner?
    2) Where should we do the actual payment?
    3) Should the seller pay for the Deed of Sale.
    4) What are the other documents should I ask from the seller.
    5) What's the easiest yet precise way to check if the car is legally sold or not?

    Thank you very much for your replies...
    1. Just bring a little cash for earnest money/deposit in case you want to reserve the car (usually around 5K). Have them receive it just in case.

    2. Do the actual payment in the Bank (if cash) or via MC. Offer to meet the seller at his bank.

    3. Usually, the buyer does the paper work. If you're buying from a Buy and Sell/dealer, they can do it for you and you can negotiate for them to cover the cost.

    4. All the original documents of the car such as the CR/OR, insurance, release of chattel mortgage (if it was encumbered to the bank), photocopies of the owner's valid, government-issued ID with original signature and perhaps his cedula or TIN (for documentation purposes on the Deed of Sale).

    5. As long as you have the notraized deed of sale, duly signed by the owner and witnesses, and the money is received, it's yours. Have the car checked via text LTO and at the PNP (stencil) prior to ensure that it is not a hot car.

    Take your time when searching for a second hand car. Don't go immediately for the first unit you see and look at several vehicles.

Planning to Buy a 2nd Hand car