One of the biggest concerns when it comes to purchasing a used car is whether there will be “hidden” charges by the dealer. Realising this, Carlist.my, in an effort to protect buyers who come to our platform, recently came up with the Buyer Protection Program to keep the process fully secure for buyers.
The Buyer Protection Program with Carlist.my’s 100% Return Guarantee (Terms & Conditions Apply*), aims to help secure the Buyer’s booking fee. Potential Buyer's will feel safe in the knowledge that their booking fee is secure during the transaction process and payment disbursement upon purchase completion. Win-win, no?
Buyer Protection Program
The Buyer Protection Program will not apply when you encounter specific problems such as the ones mentioned below:
- Change of decision for any buying/selling process from any one party
- Loss or damage caused to the vehicle during the process of car buying/ selling, and/or transfer of ownership
All buyers are reminded to:
- Ensure that you and the dealer are confirmed with the car deal and going to proceed with the bank loan application before subscribing to Carlist.my Buyer Protection Program.
- Make independent verifications as to whether any summons was issued by the authorities in respect to the vehicle.
- Make an independent verification with the authorities as to the accuracy of the details, identification marks, make, type, model, version, year of manufacture and other particulars of the vehicle.
So, how much do you have to pay?
Booking fee (fully refundable)
- Vehicle priced less than RM10,000 – RM500
- Vehicle priced between RM10,000 and RM150,000 – RM1,000
- Vehicle priced above RM150,000 – RM2,000
*Terms and conditions apply
Buyer Protection Program
- Buyer Protection Only – RM99
- Buyer Protection with 100-point inspection – RM187
Read more about the Book Now Pay Later Program and the Buyer Protection Program here.
In addition to the Buyer Protection Program, there is also the Book Now Pay Later initiative.
With the Book Now Pay Later option, you will be placing a booking fee with our verified Trusted Dealer to lock your desired car while your loan application gets processed.
This program actually allows the buyer to:
- Engage directly with the Seller to reach a mutual agreement on the vehicle selling price.
- Get the car purchase up to speed without having any physical dealings between the buyer and seller.
- Lock down a deal by paying an initial deposit to the dealer while getting the loan approved.
- Get the booking fee above refunded in case the loan gets rejected, or any other terms applicable under the sellers' discretion.
In case you’re wondering how to go about the program, just look out for listings with the “Book Now Pay Later” badge when you’re browsing for your next car.
Once you find a car listing with the aforementioned badge, discuss with the dealer via phone or WhatsApp to agree on a price, and confirm the purchase.
After confirming the purchase, inform the dealer that you will be subscribing to Carlist.my's Buyer Protection Program. In order to subscribe to the program, all you have to do is fill up a form.
Once the form is submitted, an agent from Carlist.my will contact you to follow up on the verification process, and once that is done, you will have to make a payment to Carlist.my (car booking fee and buyer protection program subscription fee) to secure your payment while waiting for the loan to get approved.
Carlist.my will then verify all the information about the vehicle being purchased, and conduct a 100-point inspection if the buyer opts for the inspection service.
Check out all the cars that are eligible under the Program here.
At Carlist we're always striving to look for ways in order to keep both potential buyers as well as used car dealers honest and secure in vehicle purchase transactions. It's easy to brand used car dealers as sleazy but the bigger question is what we do about it? How do ensure the welfare of both parties is taken care of during the process, hence the safeguards and initiatives we've put into place above. Talk is cheap, we prefer to walk our talk.