FAQ - DNA Auto

How to Sell Used Cars in Singapore ?

For almost every car owner in Singapore, they’ll spend less than 10 years with one car. No matter how much they love the car or even if the car is in a great working condition, car owners will still get a new car. And that’s because of Singapore’s Certificate of Entitlement (COE) system which makes car ownership a lot more pricey, which also adds to the country’s used car market. But there are a million and one ways to sell a used car.

So what’s the best way for you to sell a used car? Do you sell your car to a direct buyer or dealer? What are some of the things you need to take into account before selling your used car?

Just like how there are a lot of ways to sell a used car, there are also a lot of different things you have to take into account. Most of the time, selling a used car on your own can be really troublesome and time-consuming.

To help you deal with all the issues that may arise, we’ve come up with a comprehensive guide of everything you’ll need to know. The guide will cover the different ways you can sell a used car, the pros and cons of each option, what you’ll need before you can sell a used car and some tips and tricks to help you along the way.

Can Export car with Outstanding Loan

Yes you can sell your car even with outstanding loan to DNA Auto. We accept All Car’s Make & Model of any conditions

How to Deregister Car in Singapore ?

Obtain a TPIN from LTA

The Transaction PIN (TPIN) is a password that enables you to complete transactions via e-Services@ONE.MOTORING (Request for Transaction PIN). Even if you plan to engage an Electronic Service Agent (ESA) to assist the process, you will still be required to request for TPIN. Following your online request, you will need to wait 3 to 5 working days for a letter from LTA. In this letter, you will find your transaction Pin. It is recommended that early, preferably 2 weeks before the vehicle’s de-registration date or planned scrapped date, whichever comes first.

Submit Required Documents

You will need a few things ready before the actual de-registration. Firstly, print a copy of de-registration form (Form D01) from ONE.MOTORING website. This can be found under SCRAPPING OF VEHICLE AT AN LTA APPOINTED SCRAPYARD. Secondly, make sure you have the car owner’s Original NRIC ready. Lastly, ensure that you have paid all outstanding fees. This includes outstanding road tax and car loan.

When to handover used car ?

You can handover your car to DNA Auto anytime before your Car COE expires.

Can i authorise friend to sell my car ?

Yes you can authorise a family member or a friend to sell your vehicle on behalf, however there is a few of things to take note of.

1. Ensure that you have obtained the Transaction-Pin from LTA before you leave the country and hand to the person authorised to assist in the sale. If not you can also request for the Transaction-Pin from www.onemotoring.com.sg and it will be delivered to your residential address.

2. Completed/Signed “Application Form For Transfer Of Vehicle (M01)”. You can locate the form in the following link: http://www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/forms_download0.MainPar.15985.collapsePar.67710.File.tmp/M01.pdf

3. Lastly you are required to get a “Power of Attorney” Letter to authorise the person to act on your behalf. Sample letter can be found in the following link:
www.onemotoring.com.sg/publish/onemotoring/en/lta_information_guidelines/transaction_pin/documents_for_transaction/annex_a_and_b.MainPar.50139.collapsePar.20903.File.tmp/Sample_POA.pdf

Do note that the above is not applicable to a Company’s Car. Different documentations will be required.

How to obtain LTA log card of my car ?

1) Log on to www.onemotoring.com.sg
2) Log in with your Singpass
3) After successfully logging in to e-Services@ONE.MOTORING, select ‘Vehicle Hub’ -> ‘Enquire & print veh reg details’ -> select the vehicle registration number of the required vehicle -> click Next and print the details accordingly.

How to update log card ?

To update vehicular details, you will have to do the following steps:
1. Go to http://www.onemotoring.com.sg, on the top menu, click on “Log In”, then “Singpass”
2. Once you have login with your Singpass, on the top menu click on “Ownership”, then “Vehicle Scheme/Specifications”, then “Amend my vehicle specifications”

Changing Car Colour, How to Notify LTA ?

1. Go to http://www.onemotoring.com.sg, on the top menu, click on “Log In”, then “Singpass”
2. Once you have login with your Singpass, on the top menu click on “Ownership”, then “Vehicle Scheme/Specifications”, then “Amend my vehicle specifications”

Which is best ? Selling to Car Dealer or Buyer

Most car owners in Singapore do not experience selling their vehicle often enough to be familiar with the process. When selling your vehicle, the most straightforward process is to sell to a direct car agent. This will save time and reduce hassle because all the administrative work will be done for you. The other option is to sell your car to a direct buyer, which will usually result in a higher offer for you car. It might be confusing to decide for most owners. Hence, we have written this article to guide you along.

This article will be listing a few factors to consider that will help you make the best decision before you sell your vehicle.

Time

The most obvious to factor consider is time. Selling to a direct agent would take you a few days at most, provided that you find the quotation reasonable. Therefore, selling to the dealer is the best option if you are looking to get rid of your vehicle in the quickest amount of time.

Selling your car to a direct buyer is trickier. You have to factor in time spent sourcing for a buyer. There is no guaranteed timeline so this process can take anywhere from a couple of days to months.

Hassle

There is a huge difference when it comes to the administrative paperwork between the two options. The car dealers covers all administrative portion for your vehicle, effectively reducing your task to simply signing on the dotted lines and handing your car keys.

When doing an owner-to-owner transaction, there are additional tasks that you will need to sort out. Firstly, you are in-charge of the marketing for your car. This includes posting of sales adverts to price negotiation. Secondly, you would need to manually sort out all the necessary papers works which ranges from insurance changes to vehicle ownership transfer.

Money

With all the time and hassle saved from selling direct to an agent, there will definitely be some drawbacks. As you are going through a middleman, the offer you get from a direct dealer will be lower. Typically, this amount is about $2000. If you are feeling the pinch, try selling to a direct buyer. You will save on agent fees and depending on your negotiation power, you might get a little more money too!

That’s the 3 main factors to consider when selling your vehicle. Carefully weight each option and see which option is the most effective for you. Additionally, you should also consider the condition of your vehicle. If the vehicle condition is poor, it might not attract good offers in the resale market. In this case, it might be wise to contact a car scrap dealer to advise you on the scrap value of your car.