Trade In Process In Malaysia
Updated: Feb 6, 2020
Normally for Malaysian who change their second car, usually they do a trade in. However not a lot of people would know this process until they go through it. Let's talk about trade in your old vehicle process in Malaysia.
First, compare a few used car dealers that how much they could take your car. Of course if you're not automotive industry, you do not know the used car dealer's contact but you can liaise direct with your Sales Advisor whom you purchase your new car from to check and compare the prices for you.
After the price you have expected, next is viewing. Used car dealer will need to view your current car condition and evaluate the price they want to take it. Depending on your car conditions, they will deduct the price they given to you to fix the damaged part for example spray paint, bodykit, gearbox, air cond and etc parts that were worn out or damaged. Take note that they will only deduct, not increase.
When you agreed with the price given by the used car dealer, next is to check your settlement value from the bank if your car is still under hire purchase loan and biometric thumbprint via e-auto. On top of the agreed price, whether you have extra or you need to top up extra from it. Remember get the settlement letter together with the used car dealer in the bank itself.
After all the settlement and thumbprint, proceed to pass the car to the used car dealer and get a copy of bill of sale as a proof of sale just like you make a purchase and get a receipt for every transactions.
Above are the trade in process in Malaysia. Thank you and good luck.