Trade-in & Save More on
Your Next Car in Malaysia

Q: What is the trade-in value of my car?

Trade-in value is the price a dealer would offer for a consumer's vehicle to apply toward the purchase of another car in the dealer's inventory. The trade-in value is more closely aligned with the auction wholesale value, meaning what the car would sell for at an auction to interested retailers.

Q: How to trade in a car with a loan?

Another problem arises when the buyer needs to take a loan to buy your car and the banks get involved. They would require a more in-depth report, the B7 Puspakom Hire Purchase Inspection Report (RM60) over the normal B5 report, which generally takes more time to process. The buyer would then arrange for his/her own hire purchase loan approval before you can close the deal. This would also take additional time as the buyer’s bank would have to settle off your bank’s loan. Do note that this process can only go through if the sale value of your car is more than your balance loan.

Q: Can I trade in a car with a loan on it?

Yes, you can trade in a financed car, but the balance of your loan doesn't just disappear when you do so — it still has to be paid off. In most cases, the loan balance should be covered by the trade-in value of the vehicle, but that will depend on a variety of factors, including condition and age.

Q: How do I trade in a car that is not yet paid off?

If your car is worth less than what you still owe, you have a negative equity car also known as being “upside-down” or “underwater” on your car loan. When trading in a car with negative equity, you'll have to pay the difference between the loan balance and the trade-in value.

Q: Is trading my car in a good idea?

It makes the most sense to trade in your car when its value is greater than what you owe on the loan. This way, you can use that equity as a down payment toward the next vehicle you purchase.

Q: Can I trade my car in for a cheaper car?

Yes. If your trade-in is financed and you have equity, the dealer will pay the remainder of the loan and subtract the equity from the price of the less expensive car. If the equity of your trade-in exceeds the price of the car you trading for, the dealer will cut you a check for the difference.

Q: Where can I trade in my car?

You can trade at WAPCAR or CARSOME platform.

Q: What are the steps I should take when trading in a car?

1. Research the value of your trade-in vehicle. 2. Determine whether you still owe money on your current car. 3. Get an estimate from several dealers. 4. Negotiate your trade-in price. 5. Close the deal.

Q: How soon can I trade in a financed car?

When trading in a financed car, you could wait a year or more – especially if you just bought it. Taking care of a brand-new car can result in a 20% decrease in value within the first year, followed by a slower loss within the next year.

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Selling Journey

1
1. Book an inspection
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2
2. Get Your Car Inspected
Our skilled inspectors will conduct a 175-point check and make you an offer.
3
3. Sell Your Car
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4
4. Get Paid in 1 Hour
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The Best Price
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