Car ownership in Singapore, How to transfer it?
Car ownership in Singapore, How to transfer it? – Selling car can be a pretty hectic process, no matter what your reasons are for selling. Whether you just want to shift to something more efficient, need money, or just don’t need your car anymore, the fact remains that when you set out to sell a car, you want the highest price. After all, a car is no small investment and it can be an absolute pity to have to sell it for a fraction of the price that we got it at. In addition to this, there can be much legality and processes that we need to fulfill in order to sell the car. All of this can be pretty confusing when you’re trying to get the car off your hands as soon as possible, and if you’re feeling overwhelmed by it all, perhaps getting in touch with a professional and opting for car consignment can be your best bet. Here’s how.
Selling on your own VS car consignment
Most car sellers try to be as independent as possible when they’re trying to sell their car. This is because selling privately gives us time to arrange buyers while still having ownership of the car. This means that they can have the flexibility to still drive their car until a sale is finalized. However, this can leave us to our own devices when filling out piles of paperwork, which can be incredibly difficult to navigate around. Car consignment is a procedure that can allow us the flexibility of owning our car until the sale is finalized, while having professional help with arranging serious buyers, filling out paperwork, advertising and more. Basically, when you consign a car, you can enjoy the benefits of making a private sale while having a professional like Cars N U help you make the best sale.
Transferring car ownership
This can be one of the trickiest parts of selling your car, as the process can be lengthy and confusing. With the help of consignment agents in Singapore, however, you can shorten the process. Below are some steps you would traditionally have to follow to transfer ownership of your car.
Find a buyer
On your own, this can be an arduous process. With the help of consignment agents however, you can sell cars in a flash. The agents can help make a quicker sale as they have an existing pool of serious buyers. This can reduce time and money spent on meeting buyers and advertising. It can also mean that we can make the most favorable sale, as the consignment agent can help both parties come to a consensus.
Regulations state that before a car is transferred over to someone else, all existing financial issues must be cleared. If you have any loans, taxes, fines or arrears lined up, it’s best to clear them out to make a smooth sale. When working with a dealer in SG, they can help you pay the money upfront and you can clear their dues later.
Perform the legal transfer for Car ownership
Here’s where things get confusing. There are different forms and different regulations for transferring vehicles of different categories. Additionally, you must sort out whether you want to keep or sell your number plate as well, which requires additional paperwork. All this paperwork and the fees that it requires need to filled out in 7 days of finalizing the sale. There are also separate procedures for transferring diplomatic vehicles or vehicles registered under a deceased owner. Based on your specific conditions, you may have to fill out online forms or head to the LTA Customer Service Center. Once all this has been followed, both parties will receive an SMS confirming the transfer, and you can then give the keys over to the new owner.
As most legal procedures are, this process too can be long and winded. With the help of a consignment agent, you can simplify this process to make the most efficient sale.
Working with a consignment agent like Cars N U can help you simplify and speed up the process of selling and transferring ownership of your car from the get go. Consignment agents can help both buyers and sellers reach a mutually agreeable decision, where both parties feel that they make the best bargain, in the shortest amount of time.
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Leon & Partner was exceptionally good! The car caught my eye and I contacted Leon to enquire. He was very friendly and knowledgeable. Everything was super smooth, he booked an appointment for me to view the car and we close e deal at the first appointment. There were no hiccups at all, a very smooth sailing transaction! I got my car in less than a week or so without having to worry abt a single paperwork or so. Everything was done swiftly and proper by Leon and partner. They were super efficient, transparent and humble. Thank you for making the journey of owning a family car possible. This is by far the best car transaction! Thank you Leon & partner!
OUR GOOGLE REVIEWS
The good folks at Cars N U are the buddies you never knew you had. Leon and his team make their priority to have your best interests in mind, taking care of both buyer and seller at every turn. Their keen and genuine approach made my whole sale process a smooth and reassuring one. I was a potential buyer turned seller after being impressed by the sincere spirit of Leon's service, despite not buying a car listing from them. Many dealers may simply move on to the next lead but Leon took it upon himself to offer his industry expertise and worked out a prospective offer to sell my car in a tight time frame set by me. Despite the challenging timeline and the COVID pandemic market conditions, CNU were laser focused on the task, and any queries I had along the way were promptly addressed. I truly feel blessed by this chance encounter turned opportunity, and would not hesitate to engage Cars N U again. It is amazing to see them work and Leon is setting a service culture for the rest of the industry to emulate.
OUR GOOGLE REVIEWS
Engaged Leon and Jon from cars n u. initially was skeptical as I am totally ignorant about the car selling process. Leon patiently explained to me and gave me the assurance. Eventually decided to go for it. a test drive and didn't have a price yet, but my salesman, kept me fully apprised of the situation. Offered a refundable deposit until I could test drive it and make a decision. Great car, great sales team.