How do u usually make payment? 6 figure amount.

Will kena scammed or not? The account is company account. What do i need to do to verify?

no head no tail, dont know what TS is asking

Split into multiple transaction and on few days.

Got official quotation and invoice?

Don't forget the official receipt and other docs from Puspakom and insurance.

....

This post has been edited by matrix88: Sep 9 2024, 02:00 PM

company acc as in shn bhd?

second hand/ recond car?

.

This post has been edited by netflix2019: Sep 9 2024, 02:09 PM

ya sdn bhd account.

Invoice no car plate...

Ask for banker's check lo.

timing important. buyer and seller go sit in JPJ office together when transferring ownership only pay. sometimes if got saman or letter of release not complete JPJ will not transfer.

It's a new car. First time buy big amount cash only.

Don't skimp on transaction cost coz it is a big amount. Pay a small commission to bank as above to reduce exposure on both parties. Buyer can cancel payment within certain timeframe and seller has assurance that the buyer can pay in full.

The dealer should issue you a receipt for each transfer made. Just reference your NRIC for each payment and send the screenshot over after payment made. Normally full payment is needed before car is registered to you.

This post has been edited by GeekinE90: Sep 9 2024, 02:53 PM

New car, dealer, <under RM200k, is ok. Can make one transfer. If takut sangat, buat 2 transfers 50-50 (after deposit).

Or if exceed 200k, use FD/ASB or reputable sources to finance car-though not advisable.

Better yet, use loan, that 2%, - that balance go invest in fund with higher %. Difference can cover loan cost.

Banker's check only cost few ringgit. I bought car also cash. Last time banker's check only need to pay RM4 if not mistaken. The buyer's put the money into the bank and bank issue a check. So, the money is guaranteed there.

Never pay with cash.

Use a company cheque. Can cancel within 24 hours if the seller play dirty. Banker's draft cannot halt payment it already banked in.

if i am seller and receiving cheque, i will wait for money to clear before handling over the car. will only accept bankers cheque.

if new car pay to company account, just go to bank and ask them to do the transfer.

Bank will ask for car booking form, company SSM and they will process the payment.

few months back did a 170k payment so i just let bank do the transaction.
there are 2 types of transfer method, one is on the same day (Pay RM5), the other one is slower.

This post has been edited by squareballs: Sep 9 2024, 04:32 PM

I paid for my Porsches in Australia by a mixture of cash, bank transfers and credit cards (for the miles). Each transaction was clearly documented and receipts were given every step of the way. No issues.

In Singapore, I’ve only done bank cheques because the Authorized Dealers will not accept cash and the credit card payment is limited to $25,000 only.

New car dealer can do online transfer max RM50k per day. My Nissan Almera was paid through two transactions. Not 6 figure though.

You buy used car or new car? My experience was with proton, abit unpleasant due to agent inexperienced causing misunderstanding. Actually we need to fully pay before they can register the car under our name. While waiting for the car we only got their receipt as black and white, which is very worrying, lol

The company account is the only thing to verify.

Best is to get the dealer who got new ready stock on hand. So once you pay, they can register car under your name in one or two days, depending how soon you bid number. Then you can have receipt from jpj with the car chassis number register under your name, last is to wait for them to deliver car to you within a week.

Your agent must be experience, if not will be scary and a lot misunderstanding might happen while waiting for the car. I would say agent don't like cash buyer, haha.

This post has been edited by Jingle91: Sep 14 2024, 05:05 AM

just to update

Got my car today. No kena scam. syukur.

Here is what i did.

Followed squareballs advice. Get proforma from the salesman. Then take it to the bank ask them to transfer the amount to the dealership account. Banker draft the form, confirm name amount acc no. phone etc. Craziest part is the bank never give confirmation notification, and the dealership/salesman never bother to do follow up. Basically silent from everyone, when asked for payment confirmation salesman just simple whatsapp assured me "no scam bro. don't worry. Will notify when car ready". At this point i was glad i do walk-in bank transfer, cos at least got paperwork evidence. I could have called the office and confirm their business, but i am careless person so just pray and let god do his/her work. Actually thinking back, my work place transaction many times bigger than this car amount i never worried about it. Suddenly when it's my own blood sweat money i full blown paranoid about everything.

Anyway after 10 days they just contact me say car ready can go collect. Took grab go to the dealership, sign some paper see the salesman explain basic car function then i can drive home with a new car. Many ask me why never deliver to my doorstep, i honestly don't know why. They never offer and i never ask. Probably risk of litigation if accident en route?

So this conclude my first experience buying car cash. Also record breaking single cash purchase in my life.

Thanks for the input everyone involved.

congrats on new car

btw, whats the car

toyota cross