Sunday, August 27, 2023

Buying and Selling Second Hand Car Online


Buying a used car is quite challenging, I bought a 2nd hand Honda Civic yesterday. Although this is not my 1st secondhand purchase.  This a little bit challenging coz you need to do a little of paperwork verification and research. Coz some of them usually have a common challenge with papers and ownership.  

Even though it is a spouse, friend, agents or family member vehicle's ownership name. So you need to talk to an actual Lawyer and Car expert to give you advice on what to do and also to notarize that deed of sale. 

Aside from doing a Google research online. Coz 90% of what you read is actually true, and the 10% is quite a little bit different like when you translate a certain language via Google it is not 100% accurate. 

Like declaring the true value of the car, lawyer 1% fee, and so on. Some may advise you to put blank or open deed of sale so you won't pay extra when you are about to sell it. Some may advise you to transfer or put it under your name.

There's always a room for negotiation to Lawyers' fee, sellers' and buyers' pricing. As you meet halfway in making the art of deal or no deal. Some sellers or buyers might feel lucky or sad when they experience the actual good deal, win-win deal, losing deal and the worst is lowball.

The market for vehicles is always open, we just don't know if we buy or sell it in a good price. A profitable or a losing deal. A car is only considered an asset when it makes money, but it is a liability when you are losing money coz you need to maintain it. From carwash, waxing, interior detailing, oil, insurance, registration and parking fees.  

Aside from getting the original vehicle OR CR. Most men have Bond to their first car, the emotions are quite a little bit painful. I saw the to owner's son face coz, his father was trying to sell to me his 1st car. To finance the medicine school of his sister. 

Same with me when I sold my first car coz I didn't take of it, the engine and computer box were damaged coz I rev it up everywhere. Without proper maintenance and reckless handling. Now, I have the resources to buy it back. But it's very difficult coz its on a very far island. 

Coz you already used to bond with it on a day to day basis. Unlike with the dealership and car brand itself, you don't need to worry about the paperwork. You just need to pay a huge interest rate if it's via financing and loans.

My advice is to consult several experts in making a wise decision in buying and selling a used car. Also to put an anti-theft lock on it coz it has gone through several car key duplicate ownership hands. 

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