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Car Exchange at Car Sale - Document Procedure


Nuw123
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Hi Guys! 

I'm planning to exchange my car to another car which is under the owner's name at the car sale. So getting his car and transfer it to my name transaction is clear for me. but when it comes to transfer my car to him, he said he will keep this under open papers and submit docs to me  only another person will come and purchase the car from him. instead of giving me the papers he will issue me a letter with stamped signature mentioning 'the car has been transferred to this person on this date bla bla '', so as per this I only be able to send the docs of my selling car only after he sell to another party as the buying party need to submit the docs within 14 days. (not sure on this) 

is this the normal procedure when exchanging a car from a car sale and what are steps I need to take in order to safe guard my side??

 

Thanks guys ! 

 

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Normally car sales people do this since they do not want to add an owner to the book. 

However vehicles ownership under open papers is illegal since the grace period is over now. If someone uses your car under open papers and gets caught you might also be in trouble. Also who knows what your car will be used for during the period of sale? He might run over someone and you might be in trouble since you are the registered owner still. 

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What if the car sale guy sells the car to a car baiya (buying and selling people) who sells it to another car baiya who sells to a nice old fellow from wanathamulla, who decides to pick up the next random miniskirted girl who they see on the road and give her a good time with his four friends who have already downed 2 bottles of gal arakku?

... and perhaps knock down a pregnant lady who was crossing the road when they were returning after throwing the miniskirted girl's body on to the railway track in dehiwela?

 

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@The Stig & @Crosswind thanks guys for the comments. I understand the gravity of this . . . but is there any single way I can safeguard my self as I really want to go for this car, the owner said he will offer me a letter mentioning present details as well as he will send me my copy when sell it another party. 

Thanks again! 

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12 minutes ago, Nuw123 said:

@The Stig & @Crosswind thanks guys for the comments. I understand the gravity of this . . . but is there any single way I can safeguard my self as I really want to go for this car, the owner said he will offer me a letter mentioning present details as well as he will send me my copy when sell it another party. 

Thanks again! 

Like I said open paper transfers are illegal, I am no lawyer but any document issues in favour of an open paper transfer without actually transferring the car should be null and void now. So essentially his letters are useless. 

Best option you have is to sell the car like anyone else would and buy your new car. May we know why this is not an option?

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39 minutes ago, Nuw123 said:

@The Stig & @Crosswind thanks guys for the comments. I understand the gravity of this . . . but is there any single way I can safeguard my self as I really want to go for this car, the owner said he will offer me a letter mentioning present details as well as he will send me my copy when sell it another party. 

Thanks again! 

Haha very funny... you know what will happen if the worst happens and you are taken to courts?

That letter will give proof to the prosecution that you broke the law. You will end up scoring an own goal and the judge and the opponent lawyers will have a good laugh while you slowly walk towards the remand cell :)

Edited by Crosswind
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I have sold to couple to these buy and sell people,  but I always tell them firmly that I ain't selling on open paper. And it works.  Not an exchange though. What they do afterwards is not my concern. I post my copy to DMT

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15 hours ago, aamarakoon said:

I have sold to couple to these buy and sell people,  but I always tell them firmly that I ain't selling on open paper. And it works.  Not an exchange though. What they do afterwards is not my concern. I post my copy to DMT

In my case this is a exchange though, so he does not want his name to be printed on the book. . . hmmmm

 

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47 minutes ago, Nuw123 said:

In my case this is a exchange though, so he does not want his name to be printed on the book. . . hmmmm

 

Looks like you really want to go ahead with this. We have pointed out the risks. So its your call.

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45 minutes ago, Nuw123 said:

In my case this is a exchange though, so he does not want his name to be printed on the book. . . hmmmm

 

Mate, whatever said and done, a car is a piece of equipment. I know people get very attached to it - me included - but it's not worth losing your sleep over especially on something as easily avoidable as this. 

The law doesn't allows for cars to be sold on open papers. Be sensible here and seek some other options. 

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