What Is The Used Car Buying Procedure?

[amilaart]

Dear expertise,

Im a new for this vehicle industry and now i decide to buy used car.

I selected Toyota starlet EP91 and going to buy it withing this week,

Im going to buy it by paying full cash.

My problem is, I don't know process of buying car.

Can you pls tell me the process of buying car?

document required to buy car?

and any thing impotent when buying a car.

Thank you

regards

Amila

[Uditha88]

1. Select the car 2 buy

2. Deposit money to bank account given by car's owner Or hand over him cash

(If deposit, give him bank slip)

3. Take the car transfer form signed by him, car registration book(Strongly recommend that registration had been done to the person who selling it to you), Revenue Licence, car key & car.

4. Get a letter signed that you paid for car & he sold it to you.

5. Drive home. Do re-registration to your name.

All the very best with your new Car!!

[kaju]

Don't forget a valid insurance.

[amilaart]

Thank you for the help,

I bought Starlet Yesterday and hope i followed all the steps

[priyanka]

1. Select the car 2 buy

2. Deposit money to bank account given by car's owner Or hand over him cash

(If deposit, give him bank slip)

3. Take the car transfer form signed by him, car registration book(Strongly recommend that registration had been done to the person who selling it to you), Revenue Licence, car key & car.

4. Get a letter signed that you paid for car & he sold it to you.

5. Drive home. Do re-registration to your name.

All the very best with your new Car!!

just to ad few things

ask for the receipts of the luxury/semi luxury taxes , if applicable

if with a mortgage or a lease get the deletion letter issued from the bank

do not forget to get a letter from the seller and also a copy of his NIC

[XBeat]

get the letter signed by two witnesses from both the parties

Better to sign on Rs. 25/= Stamps

[miniace]

1. Select the car 2 buy

2. Deposit money to bank account given by car's owner Or hand over him cash

(If deposit, give him bank slip)

Give a copy of the slip. Retain the original

3. Take the car transfer form signed by him, car registration book(Strongly recommend that registration had been done to the person who selling it to you), Revenue Licence, car key & car. Give the seller the relevant page A and A1 of MTA 6. Ask for the spare key if any. If English numbered cars check for the VIC.

4. Get a letter signed that you paid for car & he sold it to you.

5. Drive home. Do re-registration to your name.

6. Check the availability of the Spare wheel, Jack and wheel brace

Check the Red adds.

MINIACE

[Clark's son]

Thank you for the help,

I bought Starlet Yesterday and hope i followed all the steps

Well wishes on you'r purchase,

Remember to send your documents to the RMV as quickly as possible to avoid unwanted trouble.

Check the wheel brace as minace mentioned and remember to check if it matches the wheels if it has aftemarket wheels fitted tom it.

Take it to a service check if there are under carriage problems,

Check some of the vital things before you lose contacts with the previous owner

And remember to check the filters oil and specially transmission fluid and change them if any suspicion occur.

I always change the vital fluids of the car when i buy one because even though the maintenance records are there it is a small investment to avoid major damge if not done.

And enjoy the new ride

Edited June 13, 2012 by Clark's son

[sbr]

Is VIC still in use. Or is it only required for older registration books. ?

[Crosswind]

For non-English numbered vehicles -> NO VIC

For English-numbered vehicles with a pink registration book -> NO VIC

If the vehicle doesn't fall in to either of the above categories, there will be a VIC.

[Crosswind]

I also wish add for potential car buyers, that the safest way to pay for a car that you bought, is through a bankdraft.. If you are making a bank draft, you should add a note saying its Payment for car XX-XXXX. Direct deposit is relatively safer and paying cash is not very safe. If it is a direct deposit, you should inform the teller and ask the teller to add it as a note in the system.

This will give an added proof that the buyer legally bought the car and paid for it in cash. Much safer than getting a letter from the seller.

[amilaart]

I also wish add for potential car buyers, that the safest way to pay for a car that you bought, is through a bankdraft.. If you are making a bank draft, you should add a note saying its Payment for car XX-XXXX. Direct deposit is relatively safer and paying cash is not very safe. If it is a direct deposit, you should inform the teller and ask the teller to add it as a note in the system.

This will give an added proof that the buyer legally bought the car and paid for it in cash. Much safer than getting a letter from the seller.

yes i payed using Bank draft and pretty simple to apply, withing 20 min time everything complete. ( at BOC) , they offer cheqe written by sellers name,

charge some small charge (around 0.06%) as a commission. it is worth than the carry huge money with high risk.

[sbr]

For non-English numbered vehicles -> NO VIC

For English-numbered vehicles with a pink registration book -> NO VIC

If the vehicle doesn't fall in to either of the above categories, there will be a VIC.

Thanks for the Clarification.

[Watchman]

http://www.youtube.com/watch?v=dc_6hwEmpCk&feature=g-all-u

[CARBON B4]

2. Deposit money to bank account given by car's owner Or hand over him cash

(If deposit, give him bank slip)

I would advice not to make a deposit to his account, I had this guy who did but when he went to collect the car he had sold to someone else and this guy had a hard time getting back the money.

Best is Bank draft, but most sellers will not release the car untill money is realized, eventhough its gauranteed by the back. Best is the cash option where its a clear give and take. Since most banks issue Rs 5,000/= notes even a large amount of cash can be carried without too much issue.

[Crosswind]

http://www.youtube.com/watch?v=dc_6hwEmpCk&feature=g-all-u

I wonder why this Balumgala people or the so-called experts who talked never mentioned about cross-checking the meter readings with service records or VET certificate values? Perhaps they want to just keep things exciting

[Crosswind]

I would advice not to make a deposit to his account, I had this guy who did but when he went to collect the car he had sold to someone else and this guy had a hard time getting back the money.

Best is Bank draft, but most sellers will not release the car untill money is realized, eventhough its gauranteed by the back. Best is the cash option where its a clear give and take. Since most banks issue Rs 5,000/= notes even a large amount of cash can be carried without too much issue.

Ah welcome back. How is your B4 doing?

The reason why its better to deposit money in an account iis because of the record it creates at the bank. Even a kindergarten kid would know that if a person deposits money and then goes to collect the car, he's an idiot. Just do the transaction in the bank. Isn't it obvious?

Also my dear friend, its been a while since the first world war. Now you can actually get a draft encashed immediately if you go to the bank that issued it.

And cash option is not the best. Just because the notes are smaller, doesn't make it any difficult for u to get robbed. And most importantly, there is no record of the transaction or independent witnesses.