Newbie question - selling a car
Discussion
I am not really a newbie anymore. 5 years here next week - where does the time go?
However is first time I have sold a car privately here. I have a buyer that has left deposit, and plan on doing the final transaction after Eid. I just want to run through what I believe is the process:-
1) Receive Payment (more on that later)
2) Go to RTA with buyer.
3) Get Annual Test done (I pay as seller). I guess can be done at Al Barsha - same place as RTA? (Have never done the test before as normally insurance company does for me). How long does this take? Can this be done before I am there with buyer? Is there a validity period if I get done early?
4) Ensure buyer has insurance
5) Ensure fines on car are paid.
6) Go to RTA counter and do some stamping, and car belongs to new buyer?
Is it that simple?
Then ask Insurance co for refund. Any chance of getting Salik refund, or am I wasting my time asking?
With regards to the payment. I have told the buyer to meet me at my bank and we will pay cash into my account, so I know it is cleared and then we go to RTA together. She is worried re than amount of cash, and is asking if a managers cheque is ok (she will still come to bank and we will pay in). Thoughts? Have no idea if possible to scam a managers cheque if the bank accepts it. Or whether I would need to still wait for clearing from my bank. I assume I would need to wait for clearing?
There is no mortgage on car from me, or that buyer requires if that makes a difference.
However is first time I have sold a car privately here. I have a buyer that has left deposit, and plan on doing the final transaction after Eid. I just want to run through what I believe is the process:-
1) Receive Payment (more on that later)
2) Go to RTA with buyer.
3) Get Annual Test done (I pay as seller). I guess can be done at Al Barsha - same place as RTA? (Have never done the test before as normally insurance company does for me). How long does this take? Can this be done before I am there with buyer? Is there a validity period if I get done early?
4) Ensure buyer has insurance
5) Ensure fines on car are paid.
6) Go to RTA counter and do some stamping, and car belongs to new buyer?
Is it that simple?
Then ask Insurance co for refund. Any chance of getting Salik refund, or am I wasting my time asking?
With regards to the payment. I have told the buyer to meet me at my bank and we will pay cash into my account, so I know it is cleared and then we go to RTA together. She is worried re than amount of cash, and is asking if a managers cheque is ok (she will still come to bank and we will pay in). Thoughts? Have no idea if possible to scam a managers cheque if the bank accepts it. Or whether I would need to still wait for clearing from my bank. I assume I would need to wait for clearing?
There is no mortgage on car from me, or that buyer requires if that makes a difference.
1.) I would not accept a manager’s cheque as I have heard stories of them bouncing (but could be one of the many Dubai myths).
2, 3, 4, 6.) Yes, go to the RTA at Al Barsha. At the check in kiosk tell them you are selling the car and they will give you the revelant ticket and direct you to the relevant queue. If it were me I’d request the VIP service as it’s only a couple of hundred AED more and they’ll do everything for you. Could take 15 mins and could take 2 hours depending on how busy, would hope it’s quiet over there at this time of year. Buyer needs to be there with you.
5.) Do this online before going to the RTA.
Insurance refund should be easy. Have never tried to get a Salik refund as I have 1 account for all cars.
Good luck.
2, 3, 4, 6.) Yes, go to the RTA at Al Barsha. At the check in kiosk tell them you are selling the car and they will give you the revelant ticket and direct you to the relevant queue. If it were me I’d request the VIP service as it’s only a couple of hundred AED more and they’ll do everything for you. Could take 15 mins and could take 2 hours depending on how busy, would hope it’s quiet over there at this time of year. Buyer needs to be there with you.
5.) Do this online before going to the RTA.
Insurance refund should be easy. Have never tried to get a Salik refund as I have 1 account for all cars.
Good luck.
Get the test done in advance its is valid for 1 month saves time when you go to do the transfer, ask them to do insurance in advance
it's up the buyer to have insurance sorted, if not you can still transfer owner ship and they can register it later with insurance
Get them to hand over the cash after the deal is done, then go put in the bank.
Most banks now want proof of origin of the cash so get a receipt, I just sold my caterham so ended up putting 10k at day in the bank rather than make up paperwork
it's up the buyer to have insurance sorted, if not you can still transfer owner ship and they can register it later with insurance
Get them to hand over the cash after the deal is done, then go put in the bank.
Most banks now want proof of origin of the cash so get a receipt, I just sold my caterham so ended up putting 10k at day in the bank rather than make up paperwork
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