Beware When Selling Your Ride...

[[PIMPIN]]

no test drive until the loan approved...that way is more easier and straightforward.

I'm not sure how private seller to private seller deals work but if we buy from showroom, regardless of whatever it is, test drives should be allowed (unless some ridiculously expensive car) but so far for our level of cars etc all fine with no form of commitment. Don't need to talk about those Ferrari etc lah of course

If private seller to private seller, if no test drive unless loan approved - if you were the buyer would you apply for loan for a car you've yet to drive? Doesn't it work both ways? Or perhaps you can drive the prospective buyer in the car and if he's serious he go apply loan then he can test drive? Would a deposit be sufficient in your view?

I had one guy who bought my 350Z through the dealer I left my car with (basically consignment, they makan commission) and he applied for loan under company so use as his company car. Turns out road tax like ridiculously high - something like 10k a year or don't know what. Had to resubmit under his name, etc took a month easily because personal road tax was 4ish k. That sort of hassles I think best dealers settle - they also got lubang for loans etc.

 

[EvolutionZ]

true also but if u r individual trying to sell off yr ride on yr own, better not to allow test drive until loan approve....its win win, u can tell the buyer if yr ride not up to his expectation, with the approval he can search for any cars same spec and year make.
its for safety cos many buyers or shoppers who are not genuine, they just wanna test power etc....so need extra care...

 

[[PIMPIN]]

true also but if u r individual trying to sell off yr ride on yr own, better not to allow test drive until loan approve....its win win, u can tell the buyer if yr ride not up to his expectation, with the approval he can search for any cars same spec and year make.
its for safety cos many buyers or shoppers who are not genuine, they just wanna test power etc....so need extra care...

I believe that if a buyer was in the market for say an Evo 8, he would already have an idea of how the car drives and what to expect. It's just a question of finding the right car in the best condition and at a price he is willing to pay. In which case, a genuine buyer wouldn't mind not being able to test drive the car provided the seller is willing to allow the car to be inspected by the mechanic of the buyer's choice, of course at the buyers expense. This is while they're waiting for the paperwork to go through etc. I think its a good compromise.