Promote your previous automobile while you’re shopping for a brand new automobile in Malaysia – methods to get the most effective worth in your trade-in

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Sell your old car when you’re buying a new car in Malaysia – how to get the best value for your trade-in

If you happen to’re going to purchase a brand new automobile, generally you may need an current automobile that you’re upgrading from.

We often would need to promote this current automobile to make use of the proceeds to cowl a few of the new automobile’s buy worth, or a minimum of the downpayment. Typically even when we are able to afford to maintain two automobiles, we don’t have parking area for 2! So it turns into a necessity to get rid of the prevailing automobile.

Normally we might ask the brand new automobile vendor on how a lot they might take within the current automobile for. However this doesn’t all the time signify the most effective worth which you could get in your automobile.

One strategy to get the most effective worth while you promote your automobile can be to make use of a service like myTukar.

Easy methods to promote your automobile with a bidding service

  1. Submit your particulars at this way. It is possible for you to to set an appointment date and time at a myTukar inspection centre.
  2. Go for the inspection. This could take about 30-45 minutes and it’s free, doesn’t value you a sen.
  3. In case your automobile is eligible for an on the spot provide, you’ll obtain a proposal. If you’re pleased with the provide, take it.
  4. If you want to attempt to get a better provide, you may submit your automobile for bidding.
  5. This implies your automobile’s pictures and the inspection report will likely be supplied to bidders to bid on in a dwell bidding session. Once more, that is free and doesn’t value you a sen.
  6. After the bidding is completed, you’ll be supplied the very best bid worth.
  7. If you’re pleased with the value, you may settle for the provide.
  8. Put together to handover your automobile and you’ll be paid inside 24 hours. In my very own expertise, I used to be paid in lower than 2 hours after handing over the automobile.

Our expertise was very clean and simple. There’s no paperwork to be completed. You (the proprietor) simply must confirm the IC with thumbprint, that’s it.

Aren’t all bidding companies the identical as a result of the bidders include the identical sellers out there?

We truly obtained some fascinating outcomes once we tried to promote our Golf GTI Mk7 again in March 2023.

We despatched it for inspection at two totally different bidding companies on the identical day. Evaluating the outcomes from the 2 totally different bidding companies, we obtained two totally different highest bids – RM76,200 and RM79,900. Clearly we went for the RM79,900 bid.

If we solely went for bidding with one service, we might have misplaced out on the additional RM3,700 worth.

What do I must convey alongside to promote my automobile?

You have to the next paperwork.

  1. Unique JPJ Automobile Possession Certificates (VOC). This was often known as your automobile “geran”. If you happen to misplaced this, you may simply can reprint this utilizing simply your IC utilizing the JPJ kiosk. and pay with debit card. It prices RM50 on the JPJ kiosk.
  2. Spare keys

Moreover in case your automobile mortgage was lately paid off:

  1. Settlement mortgage letter
  2. Authorisation of mortgage settlement type

What if my automobile continues to be below mortgage? Can I nonetheless promote it?

If you happen to nonetheless have a mortgage in your automobile, there is no such thing as a difficulty utilizing a automobile bidding service corresponding to MyTukar.

If the excellent quantity is larger than the supplied worth, you may pay the shortfall to the financial institution.

If the excellent finance is decrease than the supplied worth, myTukar will settle the quantity with the financial institution and pay you the steadiness.

How do I promote my automobile that’s registered below my firm title?

It’s nonetheless doable to make use of a automobile bidding service to promote your automobile whether it is registered to an organization title.

You simply want the next further paperwork. You’ll be able to ask for examples from myTukar.

  1. Enterprise Registration Type 49 & 9
  2. Copy of the Director(s) NRIC
  3. Money bill (if relevant)
  4. JPJ decision letter (with firm letterhead)
  5. Authorisation/Disposal letter (with firm letterhead)


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