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Concluding a Sales Transaction

Ready to hand over your car keys? Follow these Guidelines to finalize the sale

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Taking Payment

Have the buyer confirm how they are going to finance the vehicle. Cash is king of course, but not always practical with larger amounts. If they are not paying cash, accept an EFT only. Do not accept cheques – not even bank guaranteed cheques or cheque deposits. Cheque deposits reflect as an entry on your bank statement, but the funds are not available, until the cheque clears. If they need to finance the car, do not release the vehicle until their financial institution paid over the funds to your bank account.
Avoid being scammed, learn more by viewing our ‘Safety & security’ page.

Transferring Ownership

Selling a used car privately inevitably has some paperwork involved. Amongst others, registration, roadworthiness certificate, finance and insurance documents is needed so that new owner can properly transfer and register the vehicle in their name.
When you intend to sell a vehicle, the vehicle will change ownership, and the Department of Transport should be notified, by you, the seller. You, as the legal current owner, stay liable for the vehicle even after the buyer has taken delivery, until you submit a ‘Notification of change of ownership’ (NCO – Yellow form) to the department of transport.
For more information on the transfer process, see: ‘Paperwork required for selling a used car’

Last Minute Reminders

• Remember to make copies of all the paperwork
• Provide the buyer with the spare key and any accessories that form part of the vehicle
• Call your insurance company and have the vehicle removed from your policy
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