Q's in selling a car

[karl88]

hi! im planning to sell a car and would like to ask about the ways on how i should go about it.

1. when do i let go of the car? what if he pays with a check... do i give him the car after the check has been encashed?
2. who pays for the fee for the TMG clearance and transfer of ownership?
3. who pay for the notarization of the deed of sale?
4. what if the prospect buyer applied for a bank loan to pay for the car... will the bank be the one to pay me or will the cash be released to the prospect buyer then i will be paid in cash na?

thanks in advance.

[the_wildthing]

hi! im planning to sell a car and would like to ask about the ways on how i should go about it.

1. when do i let go of the car? what if he pays with a check... do i give him the car after the check has been encashed?
2. who pays for the fee for the TMG clearance and transfer of ownership?
3. who pay for the notarization of the deed of sale?
4. what if the prospect buyer applied for a bank loan to pay for the car... will the bank be the one to pay me or will the cash be released to the prospect buyer then i will be paid in cash na?

thanks in advance.

1. Personal check - when the check clears. Better to transact in cash or MC or demand draft. But MCs and demand drafts should be accepted during banking days and hours so that you can verify and encash immediately.

2 and 3. Owner-to-buyer, usually the buyer pays. Sa Buy-and-Sell kasi it's an added service, kasama na sa presyo minsan.

4. Can't answer. Sa real property kasi check is payable to owner. Ewan ko sa auto loan.

[baiskee]

pag bigay ng pera...dun mo lang release yung car.

[karl88]

thanks sa mga inputs. yun kasi ang worry ko if the buyer pays using a personal check. i know naman na di talaga dapat ibigay ang car unless i get hold of the money na... pero just wanted other opinions. mahirap na at baka maloko pa ng mga masasamang loob.

[nemo's friend]

car loan: company or bank will issue the MC to the vendor's name (seller of the car) di na po dadaan sa buyer

[johnart]

hi! im planning to sell a car and would like to ask about the ways on how i should go about it.

1. when do i let go of the car? what if he pays with a check... do i give him the car after the check has been encashed?
2. who pays for the fee for the TMG clearance and transfer of ownership?
3. who pay for the notarization of the deed of sale?
4. what if the prospect buyer applied for a bank loan to pay for the car... will the bank be the one to pay me or will the cash be released to the prospect buyer then i will be paid in cash na?

thanks in advance.

4. Yung bank ang magbibigay ng cheque sa inyo. Ang mahirap lang dito ay ang bank. Magbibigay lang sila ng pera paka palit ng or at cr sa pangalang ng bibili. Kaya dito mauuna ang deed of sale at or ,cr bago matanggap mo ang pera. Kung di mo kilala ang bibili pwede kang takasan kasi nasa kanya na ang mga papeles at sa kanyang pangalan.

[karl88]

4. Yung bank ang magbibigay ng cheque sa inyo. Ang mahirap lang dito ay ang bank. Magbibigay lang sila ng pera paka palit ng or at cr sa pangalang ng bibili. Kaya dito mauuna ang deed of sale at or ,cr bago matanggap mo ang pera. Kung di mo kilala ang bibili pwede kang takasan kasi nasa kanya na ang mga papeles at sa kanyang pangalan.

in this case, what is the best thing to do? or to be safe, di ko na lang entertain prospect buyers kapag nalaman ko na thru bank loan ang pagbili niya.

[jipi]

ingat ka rin sa carnappers posing as buyers. such cases occur

sometimes carnappers will post as buyers who would like to have a test drive.

just plan and be careful on dealing with buyers.

[the_wildthing]

Wag ka na lang tumanggap ng personal check tsaka bank loan. Di ka naman buy and sell.

[larshell]

Kung maganda ang naging price ng car mo you can accept Bank loan. Ito yong mga steps.
1. Buyer will give you the down payment. 30% or 50% depende sa loan approval ng buyer.
2. Bank will give you a certificate that you will recieve from the bank the remaining of the balance.
3.You need to sign the deed of sale then bank will transfer the ownership to the buyer.
4. Bank will give you a check amounting to the balance.
5. In cash the check actually Manager's Check.
6. Secure a copy of Notarized Deed of Sale. Baka kasi gamitin sa hold-up ikaw ang damputin. May proof ka na naibenta mo na car mo.
It will only take you a couple of days up to one week kung price naman ng car is above the prevailing price. I did this and wala naman ako naging problema

[karl88]

thank you for all your inputs. hope i won't have a problem when my unit has a buyer na.

[CVT]

thank you for all your inputs. hope i won't have a problem when my unit has a buyer na.

Again, good luck. Do not give the vehicle to them unless you have the money in your hand. And, be wary when they test drive the vehicle.

[aRChiVe]

never accept personal check or thru financing unless kilala mo talaga yung tao. better safe than sorry since di ka rin naman into buy and sell. safest form of payment will be MC, since youre pretty sure may pondo. It wouldn't harm also to have a photocopy of any valid ID (driver's license, sss) nung buyer para just in case may gusot lang after the transaction

[_Qwerty_]

OT: ano ba yung make/model nang car na binebenta mo?

[dieselNUBI]

4. Yung bank ang magbibigay ng cheque sa inyo. Ang mahirap lang dito ay ang bank. Magbibigay lang sila ng pera paka palit ng or at cr sa pangalang ng bibili. Kaya dito mauuna ang deed of sale at or ,cr bago matanggap mo ang pera. Kung di mo kilala ang bibili pwede kang takasan kasi nasa kanya na ang mga papeles at sa kanyang pangalan.

im currently facing the same scenario, a bank (malayan) has already approved the loan of my buyer. kaso ang sabi sa aking ng buyer gusto daw ng bangko na 1st change of ownership daw muna before they release the cheque to the buyer... before they pay it to me.

is there any other way? gusto ko kasi kaliwaan lang. i get payment (CASH OR MC), i signed deed of sale, surrender OR/CR , surrender car, then sya na bahala pumunta sa crame.

[79gemini]

mahirap pag financing institution ang magbabayad kasi they protect their own interest. Kung sa'kin siguro, i will insist na yung buyer find a way na mabayaran ako either in cash or mc, mahirap na maloko, hindi ka rin naman tutulungan ng bank if ever magkaproblema. At baka eto pa abutin kay misis

[Fast Eddie]

[QUOTE=karl88;610569]hi! im planning to sell a car and would like to ask about the ways on how i should go about it.

1. when do i let go of the car? what if he pays with a check... do i give him the car after the check has been encashed?

punta ka sa bangko, at tanong me kung meron pondo ung check nya. kung meron pede mu nang bigay ung oto mo kasama ung deed of sales receipt,at ung dated signature nung buyer

2. who pays for the fee for the TMG clearance and transfer of ownership?

ung buyer mismo.

3. who pay for the notarization of the deed of sale?

pwedeng ikaw(pakunswelo) or cya.

4. what if the prospect buyer applied for a bank loan to pay for the car... will the bank be the one to pay me or will the cash be released to the prospect buyer then i will be paid in cash na?

yes,ung bangko babayaran ka nya, either check or cash. kung anong gusto mo. pero before, dapat ung oto nasa pangalan na nung buyer. kaci mag sa-sign ung buyer ng loan sa banko. so ung auto parang pag-aari pa rin ng bangko.

[larshell]

Bank will give you first a letter of credit under your name this will serve as a guarantee that loan proceeds will be given to you kapag na release na.
After you recieve the letter of credit you can now sign the deed of sale
para the bank can process the paper's. Buyer also have to pay you the agreed down payment.Ganyan talag ang proseso ng banko.

[karl88]

ayos....new info. thanks.

[dieselNUBI]

for example, the buyer is from the province. dun sila kumuha ng MC. ibabayad sa akin un. dito ko idedeposit at my bank. pwede ba un? do i have to wait 3 days for it to be cleared?