Car loan, Insurance & Documentation for Direct Owner Sale
STEP 1
OPTIONAL
Test Drive
Schedule a Test Drive with your Buyer/Seller: Although optional, this is an important step to
ensure that the Car's condition is as advertised. Interested parties who wish to test drive the
Car need to sign the
Indemnity Form for Test Drive.

STEP 2
Signing the Sales Agreement
Both buyer and Seller agree on a price for the Vehicle: Once a price has been agreed, both
the parties will decide on a handover date, and sign the Sales Agreement Form. Sellers will
need important Vehicle details such as Engine No., Chassis No. & Road Tax Expiry. At this
point, the Seller should issue a Receipt for the Deposit collected.
Upload your Sales Agreement, and we'll handle the rest.

STEP 3
Issuance of Receipt
After the deposit has been placed by the Buyer, the seller should issue a Receipt for the
deposit collected.
This prevents potential disagreements by serving as a confirmation for the
receipt of the deposit given by the buyer to the seller.

STEP 4
Source for Loan & Insurance
Unless the Buyer is paying Cash in Full for the Car, he/she will need to source for any Loan
facilities on his own accord, and activate a Motor Insurance under his name - which is
necessary for the Transfer of Ownership of the vehicle later.
sgCarMart Connect can help both parties transact smoothly, by helping the Buyer source for Loan facilities & Motor Insurance.
Buyer & Sellers: Get help with sourcing for Loan & Insurance

STEP 5
Full Settlement of Existing Loan
If the vehicle is still under financing, the Seller needs to fully pay off the outstanding balance
before Transfer of Ownership to the Buyer.
sgCarMart Connect can help Sellers with the existing Loan Settlement quicker, and get cash disbursement earlier.

The following steps should be done on the same day:
STEP 6
Transfer of Ownership
According to LTA's processes, a Transfer of Ownership request will be initiated by the Seller
via OneMotoring. Acceptance of the request will then be done by the Buyer via
OneMotoring(a transfer fee levied by the LTA will be applicable) within 5 days. Logging into
OneMotoring will require a SingPass/CorpPass with 2FA Authentication.
sgCarMart Connect can guide you through Transfer of Ownership to the New Owner.

STEP 7
Balance Payment to Seller
If the Buyer did not take a loan to pay the outstanding balance of the Vehicle, they will have
to make payments to the Seller in the form of Cash or Cashier's Order. The Seller should
issue a Receipt upon collection of payment.
For Buyers taking a Loan, sgCarMart Connect can arrange instant payout for the Balance Payment directly to the Seller

STEP 8
Signing Hand-Over Form
Once the Transfer of Ownership has been done, the Vehicle is ready to be handed over to
the Buyer. After signing the Hand-Over of Vehicle Form, the Buyer bears the responsibility
of any fines, summons or any claims relating to the vehicle thereafter.
sgCarMart Connect will facilitate the Hand-Over for both Buyer and Seller.

Essential Forms for Direct Selling/Buying: Sales Agreement, Indemnity Form, Receipt, Hand-over Form
Your Essential Forms
»Sales Agreement
To let buyers sign when
confirm purchase of vehicle.
»Indemnity Form for Test Drive
To let interested buyers sign
before test-drive.
»Receipt
To issue to buyers whenever
they make an payment.
»Hand-over Form
To let buyers sign when you
hand-over the vehicle.
Settle your Paperwork with Connect
Send us your completed Sales
Agreement, and we'll help both
parties with Car Loans, Motor
Insurance, Payments &
Ownership Transfer.
Found a buyer for your Vehicle?
We'll settle the paperwork for you.
sgCarMart Connect handles your transaction paperwork from Agreement to Handover. All you have
to do is send us your completed Sales Agreement, and we'll handle the rest. We'll help both parties
with Car Loans, Motor Insurance, Payments & Ownership Transfer.
WHAT'S NEXT?
A Customer Service Officer will contact you within 1-2 working days, and it should take 1 week or
less to complete everything. This service is Free for all sgCarMart Advertised Vehicles. For other
vehicles, please refer to our FAQ. For any enquiries, call us 6744 3540
Contact Us
Address
61 Ubi Ave 2 Automobile Megamart #07-06 S(408898)
Tel 6744 3540
Whatsapp 8686 3540
Fax 6744 4703
Email Connect@sgcarmart.com
Operating Hrs Mon to Sat, 10.30am to 6.30pm
Give Me a Call

DOWNLOAD USEFUL FORMS

  • Sales Agreement
    To let buyers sign when confirm purchase of vehicle

  • Idemnity Form
    To let interested buyers sign before test-drive.

  • Receipt
    To issue to buyers whenever they make any payment

  • Hand-over Form (sgCarMart Connect will prepare this document for you)
    To let buyers sign when you hand-over the vehicle

  • Ownership Transfer
    Transfer the ownership of the vehicle using SingPass
  • Follow sgCarMart.com
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