Q's in selling a car

**karl88** · August 7th, 2006 12:15 PM

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** · August 7th, 2006 01:02 PM

Originally Posted by 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.

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** · August 7th, 2006 01:13 PM

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

**karl88** · August 7th, 2006 01:42 PM

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** · August 7th, 2006 02:00 PM

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** · August 7th, 2006 04:42 PM

Originally Posted by 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.

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** · August 7th, 2006 05:02 PM

Originally Posted by johnart

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** · August 7th, 2006 07:52 PM

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** · August 8th, 2006 03:04 AM

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

**larshell** · August 8th, 2006 09:38 AM

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