Sgcarmart Quotz offers car owners a better way to sell

Despite the high ownership prices, Singaporeans could well be in the fastest car changers in the world. With the average person switching at least three cars in his lifetime, we would expect car owners here to be savvy about the car-selling process as well as how to get the best deal, but that's not the case.

The car-selling process 

There are mainly two ways to sell off a car:

1. Selling to a direct end-user

2. Selling to used car dealers

Many people think that there is a third option and that is to do a trade-in for a new car. However, that is not correct.

Trading-in your car is the same as selling to a used car dealer because many used car dealers assist new car dealers to purchase their trade-in cars.

Quotz, a twist to an old tale 

For most people, selling to a used car dealer is the best option for them because of the convenience it provides. But with so many used car dealers in the market, how do you choose which to sell to?

The obvious choice would be to the one with the highest offer price, but it'll take lots of research, phone calls, viewing, test drives, time and effort before you seal the deal.

To smoothen this process, there is Quotz, an online bidding platform by Sgcarmart, which provides a unique service that puts used cars up for bidding.

Quotz helps car sellers get the most attractive car sale price from a network of over 500 used car dealers. Cars go through a 188-point inspection before being listed on an open bidding system. The highest offer will be ready within one working day and the seller gets to choose whether to accept the offer.

The Quotz process

1) Book an appointment.

2) Drive down for a 188-point inspection and photo taking. Details are then submitted for bidding on the same day.

3) Receive the highest selling price in one working day!

So how does Quotz work? 

The idea is simple. It takes down all the details of your car and sends it out to a large number of dealers. These dealers will bid for your car, and you will be informed of the highest bid in one working hour. Once you accept the offer, Quotz will pay you a cash deposit to seal the deal. The balance sum will be paid to you once you handover the vehicle, up to up to 14 days later. The company will handle all the transfer paperwork and documentation.

At the same time, the bidders will not know who else is competing against them, so there won't be instances of bidders collaborating to lower the price. Sgcarmart Quotz is located at #07-06, Automobile Megamart, 61 Ubi Ave 2, Singapore (408898) and contactable at 6744 7571. You can also Whatsapp your enquiries to its staff at 9191 7571.

Quotz is a subsidiary of Sgcarmart.com and has successfully transacted over 40,000 cars.

Some additional facts on selling that you may not know

1. No matter who you sell to, you will always get back an insurance refund on your unused portion of the motor insurance. The road tax may/may not be refunded depending on the agreement.

2. When selling to used car dealers, you do not have to handover your vehicle to them immediately. You can specify the handover date.

3. Some used car dealers employ sleazy tactics to buy cars from sellers, including offering false prices over the phone, the use of vague sales agreements, delay tactics, et cetera. Quotz prevents this by screening the car dealers it works with.

4. At new car dealerships, the salesperson attending to you will only get quotations from a maximum of three used car dealers for your trade-in car. These car dealers may not have seen your car, and will probably give a very conservative quote.

5. Most new car dealerships charge a fee to used car dealers. At a major dealership, it's usually a flat fee of $2,000 a month. On top of that, the used car dealers have to pay a commission ranging from $500 for every trade-in vehicle that they purchase.

6. Used car dealers normally have a specialisation of their own. Some specialise in bread-and-butter Japanese cars, some in sports cars and some in luxury cars, et cetera. A dealer who specialises in Japanese cars would definitely not offer a high price for your BMW, for example. Hence, it is important to find the right dealer to sell your car to.


*This article was updated on 6^th March 2018.