How does Quotz ensure that I will be offered the best price for my car?
Quotz uses a proprietary auction system that reaches out to over 500 used car dealers to make them compete to buy your car, thereby ensuring you the best price. We guarantee you that this is the best dealer price you can possibly get with our $100 high price guarantee.
The $100 highest price guarantee is valid if you utilise our auction service. We will give you $100 in cash if you can sell your car to a car dealer at a price higher than ours!
How does Quotz uphold the Highest Price Guarantee?
Quotz is an online bidding platform by sgCarMart which provides a unique service that puts used cars up for bidding. With our network of over 500+ used car dealers, car sellers can get the highest possible selling price for their car!
Do I need to pay anything for this service?
Quotz will conduct the bidding process of your car for a service fee of $38 (inclusive of GST). Should we not meet our highest price guarantee, you will get $100 cash straight away!
Why is there a need to drive down to Quotz centre for an inspection before I can receive an offer?
Through our auction, you will receive a binding offer for your car. Therefore, we need to do a visual and mechanical check on your car before we can put it up for auction and provide you an offer price. Whatever deal we promise you is firm and will not change.
Our process is different from other platforms or car dealers who will offer you a price first, bait you to accept it, then subsequently haggle down upon car viewing.
Can someone else drive to Quotz on my behalf for photo taking and inspection?
Yes, however, the registered owner will need to sign an authorisation form after acceptance of the final offer to allow someone else to complete the transaction.
How long does it take to sell my car on Quotz Sell-by-Bidding?
It can be as fast as selling on the same day! Once the bidding closes, you will get an offer to sell. If you accept the offer, we will pay you a deposit to secure the deal.
Thereafter, we will fully pay up any outstanding loan you have and pay you the balance amount once you handover your vehicle.
If you do not have any outstanding loan and wish to handover the car immediately, we can pay you the full sum on the spot.
Can I view the bidding online?
Yes, it's a live and transparent bidding, you can monitor your own car bidding online. The bidding typically gets more intensive nearer to the closing time, allowing you to get a high offer.
If I’m satisfied with the offer price, how do I accept it?
After the auction, we will inform you of the highest offer via SMS and a phone call. If you would like to accept the offer, we will send you a sales agreement to sign off digitally. Once that is signed, you will be paid a deposit via paynow or other means of electronic transfer.
Can I reject the offer?
Yes, it's absolutely up to you whether to accept or reject the bid price. No obligations to sell.
Should I be worried that the dealer changes his mind after I have accepted the offer?
Our service provides a binding offer that is made to protect the seller's interest. In every successful auction, Quotz will buy the car from the seller on behalf of the winning car dealer. This helps to ensure that the seller's interest remains protected and that whatever deal we promise you is firm, and will not change.
Will my selling price be further negotiated down after I have accepted it?
Whatever deal we promise you is firm, and will not change. Once you accept the offer, it is contractually binding and so your selling price cannot be negotiated down.
Will I need to meet and deal with the car dealer if I accept the offer?
We will pay you the deposit to seal the deal once you accept the offer. You can accept the offer by signing off digitally, and get paid digitally as well. The next time you need to make a trip down will be to handover the car to us and get paid the balance amount. There is no need for you to deal with the car dealer. We will handle everything for you.
This ensures that whatever deal we promise you is firm, and will not change.
How quickly do I get paid?
Once you accept the offer, you will get paid a deposit via paynow. If you have an outstanding loan, we will then do the loan full settlement for you. The remainder amount will be paid in full to you the moment you handover your car.
Who will take care of the paperwork?
We will take care of all the paperwork for you. This includes your loan full settlement and ownership transfer. You will be paid by us as well.
When will I need to handover my car?
You may choose the accept the offer first to seal the price, and handover your car at a later date. It is recommended for you to handover your car within a month as the offer prices tend to be poorer for handover dates beyond a month.