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Deregister vehicle

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ORIGINAL POST
Posted by syax 13 yrs ago
Hi everyone,


What's the recommended procedure for selling car/bike to a dealer? He's willing to sign a letter to say that my vehicle changed to his hands by the date I hand him the keys and registration doc, and he'll apply to the transport dept to change the owner name when he finds a final buyer. My question is, what happens if there's an accident involving my vehicle in between? It could be months before he sells it.


Anyone sold your vehicle to a dealer?


Thanks!

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COMMENTS
evildeeds 13 yrs ago
You should get a purchase invoice for the car from the dealer, this will suffice.

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190k 13 yrs ago
It is an offence if you do not report the change of ownership within 72 hours on the form required. The dealers do it the way they do to avoid paying $1000 transfer fee and having another owner on the previous owner list thus devaluing the car

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syax 13 yrs ago
You piqued my interest to double check the TD website. I must have skimmed it too fast on last check because, indeed, I found mention of the 72 hour rule. So, thanks for that advise!


I will see what the dealer says about this.


Anyone also planning on selling your car, check this out:


http://www.td.gov.hk/en/public_services/licences_and_permits/vehicle_and_driving_licences/how_to_apply_for_registering_and_licensing_a_vehic/index.html

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evildeeds 13 yrs ago
Dealers are registered with the TD, and if they drive the car on the road will use trade plates under their own insurance. Dealers are not required to register a car to themselves, but must note each and every journey they take in any car that belongs to them. This is a legal requirement.

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syax 13 yrs ago
I took a bit of a risk, but everything turned out fine.  Gave the keys, reg doc and vehicle to the dealer, and he gave back a signed letter of purchase as well as a cheque for the sale. I asked him to change the name with the TD on my behalf, for a small fee, which he did in 2 days (less than the required 72 hours). He faxed back the new reg doc, and the num of previous owners changed from 0 to 1. So, as long as there weren't any accidents involving my vehicle in those 2 days, I'm in the all clear.

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