[UPDATED]: Sell Your Car Fast & Easy in the Philippines: Essential Docs & How CARSOME Simplifies the Process
Manila, Philippines | 18 June 2024 - Tired of the stress of selling your car? It can be a hassle, from dealing with paperwork to finding a good buyer. But what if you could sell your car quickly and securely, without the headache?
This guide gives you the essential documents you need to sell your car in the Philippines, based on your ownership status. Plus, we'll show you how CARSOME Philippines can simplify the entire process and get you a great offer fast!
Essential Documents for First Owner:
Original Certificate of Registration (OR): This official proof of car ownership from the Land Transportation Office (LTO) verifies your legal right to sell.
Certificate of Registration (CR): This document details your car's make, model, engine number, and plate number, ensuring the car matches the official record.
2 Valid Government-Issued IDs: These verify your identity and confirm you're authorized to sell the car.
Why It Matters: These documents establish a clear chain of ownership and prevent fraudulent car sales.
Documents needed Based on Car Loan Status:
Car with No Loan Balance:
Original ORCR (Official Receipt and Certificate of Registration): This combined document proves you've paid off the car loan and own the car outright.
Release of Chattel Mortgage: Issued by the financing institution, this document officially states the car is free from any loan-related liens.
Promissory Note: This is the loan agreement, and a canceled note shows you fulfilled the loan terms.
Car with Outstanding Loan Balance:
Photocopy of ORCR: This provides car and loan details while lacking the legal weight of the original.
Latest Statement of Account: This document shows the remaining loan balance, which the buyer might need to settle before purchase.
Special Power of Attorney: If someone else handles the sale on your behalf, this document authorizes them.
Car with No Original ORCR:
Certificate of Full Payment: This document from the bank proves you've completed the car loan payments.
Schedule of OR/CR Release from the Bank: This document shows the expected timeline for receiving the official ORCR from the bank.
2 Valid Government-Issued IDs: This proves you are who you say you are and can legally sell the car.
Why It Matters: These documents prove the car's ownership status and any financial obligations. This ensures a smooth transfer and avoids future loan issues.
Why Sell Your Car Through CARSOME Philippines? Beyond simplifying documentation, CARSOME offers several benefits:
Faster and Easier Transactions: CARSOME streamlines the process by handling inspections, paperwork, and even potential loan applications.
Fair and Competitive Offers: They leverage market data and professional inspections to ensure a fair price for your car.
Hassle-Free Experience: Say goodbye to haggling and endless meetups. CARSOME takes care of everything, allowing you to relax.
Ready to Get a Great Offer and Sell Your Car Fast? Here's how CARSOME makes selling your car a breeze:
Schedule a Free Inspection: Visit CARSOME Philippines one-stop-hub at New Sea Auto Exchange Center, D Macapagal Blvd S, Pasay, Metro Manila. Make sure to call first at 09551232031 to schedule a convenient inspection appointment.
Quick and Thorough Inspection: CARSOME's professional inspectors will conduct a comprehensive 1-hour inspection including a road test, undercarriage check, OBD scan, and internal/external examination.
Detailed Inspection Report: Within 15 minutes, you'll receive a detailed report outlining the car's condition. The report will even include estimated repair costs for any identified issues.
With CARSOME's quick and hassle-free inspection process, you'll know exactly what your car is worth and can get a fair offer fast!
