Hi Guys,
My Dad passed on last month, he has an old Toyota Wish (COE till 2028) parked in the carpark for 2 months now and we intend to sell it. The car is under his name, we are in the midst of getting Letter of Administration from lawyer so my Mom can become the Administrator and sell the car. The car is under hire purchase with Hong Leong Finance, I called them and they say outstanding loan 13K needs to be cleared before selling.
The car's battery is flat, we did call a car dealer to come take a look, the person unable to start it with a small starter box, and advised us to tow the car to his workshop to check and do maintenance. But we said need time to think about it.
As I don't drive and is new to this, I would sincerely seek some advice here, basically we want to sell the car at a good price and not get conned by a car dealer / seller. What are the steps to take?
Based on some of my research, I'm thinking the steps would be: Pay off all loans to Hong Leong > Use letter of Administration and transfer car ownership to my Mom > Engage car dealer tow car to workshop to fix / refurbish it, then help sell the car? (or, can we sell it ourselves on carousell or other platforms?)
But the lawyer who helped us with LOA said, if we were to transfer ownership of car to my Mom, she would have to first buy car insurance and pay road tax first? is that true? Anyway my Mom has no driving license, only I do, but I never drove a car for like 5 years and I don't intend to drive anytime soon.
Some info from the car I retrieved from LTA
Enquire PARF/COE Rebate for Registered Vehicle:
Vehicle Make
TOYOTA
Vehicle Model
WISH 1.8XE A
Primary Colour
Silver
Manufacturing Year
2008
Maximum Power Output
97.0 kW (130 bhp)
Open Market Value
$17,398.00
Original Registration Date
16 Jun 2008
Transfer Count
1
Actual ARF Paid
$17,398.00
PARF Eligibility
Forfeited
COE Expiry Date
15 Jun 2028
COE Category
B - Car (1601cc & above)
COE Period(Years)
10
PQP Paid
$37,906.00
COE Rebate Amount
$21,750.00
Total Rebate Amount
$21,750.00
Thanks in advance for your kind advice.