FAQ

General

What is hkcartrader.com?

We are the Number 1 bilingual car site in HK. Buy and sell cars easily on our user friendly portal, read car reviews and find out about the latest happenings in the local automotive scene! Follow our #hkcartrader carspotting feed to see the coolest cars around town!

hkcartrader.com does not buy or sell cars directly nor are we a car dealer.

Is it FREE to post a car advert on hkcartrader.com?

Yes, listings are free-of-charge, no hidden fees or commissions. You may however upgrade to a Premium Listing for only $280 per month to reach more buyers and sell your car faster!

Does hkcartrader.com charge any commissions when I sell my car?

No, there are no hidden fees. The price negotiated is entirely between the seller and buyer.

If it’s FREE to post, and there is no commission… how does hkcartrader.com make money?

Yes! Users can enjoy our site and most of our services free-of-charge. We do however charge for Premium Listings and vendor advertisements on our site.

How much should I advertise my car for?

Not sure how much you should sell your car for? Send us an email to [email protected] with details of your car (Year, Make, Model and mileage). The more information you provide us, the better valuation we can provide you! We usually provide a valuation within 24 hours of receiving your information!

How do i post an advert?

Glad you asked! Go to Register

Fill out your details and you will receive a verification email.

Confirm your identity - Click on the verification link in the verification email.

Go to Login and login using your new account username and password, then click ‘Sell a Car’ and follow our simple process from there!

If you have any problems or want our help please email [email protected]

24-Hour Cash Offer

1. How do I get a ‘24-HOURS CASH OFFER’?

Simply click ‘SELL MY CAR’ then ‘I WANT CASH FAST’. Fill our simple form with your contact information and vehicle details and wait for our call!

2. Who will be purchasing my car?

hkcartrader.com has partnered with over 200 reputable car dealers who have interest in buying used cars through our bidding platform. This helps you get the best dealer price just by selling through us.

3. How is the offer calculated?

Your ‘24-HOURS CASH OFFER’ is obtained via open auction to over 200 car dealers on our bidding platform. You will receive a SMS/email notification every time you receive a new bid on your car. After the bidding stops you have 24 hours to accept the offer.

4. What are the fees involved?

You pay no fees. hkcartrader charges the dealers.

5. How do I arrange an Inspection?

Once you submit your details online, our agent will call you to arrange an inspection appointment.

6. What is involved in the Inspection?

The inspection is free and lasts approximately 1 hour. During this time our qualified Inspector will examine the vehicle and accompanied documentation. The inspector will also inspect the exterior paintwork, body panels, interior condition of the vehicle as well as the engine, transmission and underbody to ensure the vehicle’s overall condition meets our requirements. During the inspection the car may undergo a short test drive, as well as a photo taking session.

7. What do I need to prepare for the Inspection?

Our agent will call you to arrange an appointment - this will be followed up with an email detailing exactly where you need to take your car and what to bring.

We strongly recommend you clean the interior and exterior before inspection. The better your car looks, the better the offer!

Before your appointment, you’ll need to bring the required items:

- Vehicle Registration Document (copy if original is with finance company)

- Service history (Service books and repair receipts if applicable)

- All sets of keys for the car

8. Will my vehicle qualify for the ‘24-HOURS CASH OFFER’?

The vehicle needs to be in good condition and meet the offer conditions below:

- Would pass a roadworthy inspection (MOT)

- Is currently registered. VRD and Vehicle Licence must be brought for inspection

- Free of existing damage (interior & exterior)

- Free from mechanical issues

- No outstanding traffic offences or traffic fines on the vehicle

- No known flooding damage, alteration to the displayed mileage, involvement in any serious collision or accident resulting in the welding of the vehicle front and/or rear end to the body of the vehicle, welding of the axles or vehicle chassis.

- Vehicle engine and transmission has no serious defects

Please note that if your vehicle does not meet the conditions or meets only some of the conditions, then the buyer has the right to forfeit the sale, or renegotiate the offer.

9. How do I accept my offer?

You can accept an offer by either clicking on the 'View Offer' button in the email sent to you and follow the instructions on the screen. Alternatively, you can login to hkcartrader.com and click 'My Account > 24-HOUR CASH OFFER' - then follow the instructions on the screen.

10. I have accepted the offer, what’s next?

After accepting your offer, you will receive a confirmation email from us outlining the details.

Our agent will call you to arrange an appointment for collection.

You’ll need to bring the required items:

- Vehicle Registration Document (copy if original is with finance company)

- Service history (Service books and repair receipts if applicable)

- All sets of keys for the car

- HKID copy

Once you arrive at the buyer’s location, our agent will examine your car again to check that it is the same condition as during the inspection. If the vehicle checks out fine, our agent will draw up the necessary paperwork to finalise the sale.

Note: If your vehicle does not meet the conditions or meets only some of the conditions, then our agent has the right to forfeit the sale, or renegotiate your offer.

Note: If your car is currently under finance, you will need to speak with your lending financial institution and ask them to provide a letter detailing the payout figure outstanding on the loan – please bring this letter to your appointment.

11. If I cancel the offer, can I still use this service at a later time?

Your offer is valid for 24 hours and can be taken up at any time during this period. If you choose not to accept this offer, you may not receive the same offer in the future as the price of your car may change with the market. After 24 hours your offer will expire and you will need to go through the entire process again, including an Inspection.

12. Can the buyer adjust the final offer price or refuse to buy my car after I’ve accepted the offer?

The agent can adjust the offer price or choose not to go ahead with the purchase of your car if:

- Your vehicle’s details do not match the vehicle details submitted to hkcartrader and the Inspector.

- If your vehicle’s condition has deteriorated from the time of inspection.

- If there are issues with the transferability of the Vehicle Registration Document of your vehicle.

- Your vehicle has been written off or deemed not in good condition by a professional vehicle inspector.

13. How long is the offer valid for?

14. What happens if I receive no bids or if I am unhappy with the final offer?

You are not obligated to accept any offer through our ‘24-HOURS CASH OFFER’ service. If you are unable to obtain a satisfactory offer, you may sell your vehicle directly on our free Classifieds listings.

15. What if my car is currently financed?

‘24-HOURS CASH OFFER’ works even if there is an outstanding loan on your vehicle. We will issue the payment directly to the finance company. Depending on the sale price and outstanding loan balance, you will have to make up the balance if there is a shortfall or we will pay you the balance if there is surplus.

You will need to speak with your lending financial institution and ask them to provide a letter detailing the outstanding loan balance. Our agent will talk you through the process.

16. How will I be paid for the sale of my car?

You will be issued a cashier’s cheque upon delivery of the vehicle and required documents and materials.

Note: If your vehicle is under finance, payment of any surplus (if any) from the balance of the loan will only be made after redemption of the VRD from the finance company.

17. When will the ownership of my vehicle be transferred to the new owner?

All bidders on the ’24-HOURS CASH OFFER’ platform are professional used car dealers. The ownership transfer will only occur after the dealer finds a new buyer. The dealer will sign documentation with you during the handover process to record the date and time of the sale for your protection.

18. My car does not qualify for the ‘24-HOURS CASH OFFER’ service. Why?

There might be a number of reasons for this, such as the vehicle’s age, mileage or high number of previous owners. If you think there has been a mistake, please contact one our agents at [email protected].

Alternatively, you may sell your vehicle directly on our free Classifieds listings.

19. Who can I speak to if I have more questions about the ‘24-HOURS CASH OFFER’?

If you have further questions about our ‘24-HOURS CASH OFFER’ service, please contact one of our agents at [email protected].

Click here to read our ‘24-HOURS CASH OFFER’ terms and conditions.

Online Finance

1. Why do only some cars display finance price?

Finance is only available for cars and applicants that meet the following criteria:
- Vehicle age less than 7 years old
- Value more than HK$100,000

*For luxury cars, e.g. Ferrari, Lamborghini, Porsche, etc, please contact our finance partner for personalized quotation.

2. I am unable to press the ‘Apply Now’ button, why?

This is because your requested loan amount exceeds the debt to income ratio allowed. I.e. your income is not enough to cover your existing repayments plus calculated loan repayment. You should also see a box above displayed ‘Insufficient Income’.

3. The loan calculator displays ‘Insufficient Income’ – why?

4. “Is your total monthly total loan payment (including credit card, mortgage and other personal loans) less than:” – What does this mean?

Our loan calculator takes into consideration a number of factors. Your monthly income, loan amount, tenor, interest rate, monthly repayments on both current (existing) loans as well as this future loan you are considering. Based on your monthly income and loan amount selected, the calculator will suggest a maximum monthly repayment amount for existing loans. If you believe your current repayments are below this figure, then you will be ‘pre-approved’ for a loan.

5. What does ‘Pre-Approved’ mean?

As discussed above, based on your inputs, you should qualify for a loan application after pre-screening. Then, you may proceed with the online application powered by ORIX Asia Limited (“ORIX”) for instant pre-approval results. ORIX reserves the right of final decision based on all the information and documents you submit to them through their official application process.

6. How long does it take to for the loan to be approved and transfer of car ownership?

The online application via ORIX’s website provides instant approval result at: https://e-application.orix.com.hk/eapp/vh/hkcartrader. Once all the correct documents are submitted and application submitted usually within 5 working days.

7. Who is the finance partner?

ORIX Asia Limited, which is a restricted licence bank in Hong Kong. For details, please visit ORIX’s website at: https://www.orix.com.hk/en/consumer-finance/vehicle-finance/index.jsp

8. Once I apply for finance, what happens next?

ORIX will contact you directly to discuss the entire process. Once your finance is approved with loan agreements signed, ORIX staff will meet with you at the Transport Department to arrange payment and ownership transfer. The original vehicle registration document (“VRD”) will be kept custody by ORIX while you will be issued a certified copy of the vehicle registration document after loan execution.

For more details about finance plans, you may contact ORIX at [email protected].

9. What are the required documents for finance application?

- Sales and Purchase Agreement
- Copy of HKID
- Copy of Driving Licence
- Latest 3 months income proof with salary record
- Latest 1 month residential address proof
- Copy of Business card