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Selling car bought under MM2H program

Selling car bought under MM2H program

Old May 23rd 2018, 10:16 pm
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Default Selling car bought under MM2H program

Does anybody have any experience or knowledge of selling or indeed exporting a car bought under MM2H?

I bought a new car in Aug 2011 and am now looking for best disposal option. It’s clear that selling it locally will require an assessment to be made to determine the amount of tax becomes payable, based upon the original exempted amount. If I choose to export it, do I still have to pay pro-rata tax in the same way that I would when selling the car on domestically?
Would appreciate any input....
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Old May 23rd 2018, 10:58 pm
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Default Re: Selling car bought under MM2H program

Originally Posted by Kesara
Does anybody have any experience or knowledge of selling or indeed exporting a car bought under MM2H?

I bought a new car in Aug 2011 and am now looking for best disposal option. It’s clear that selling it locally will require an assessment to be made to determine the amount of tax becomes payable, based upon the original exempted amount. If I choose to export it, do I still have to pay pro-rata tax in the same way that I would when selling the car on domestically?
Would appreciate any input....
I'd first get the assessment (which should include substantial depreciation), if possible, and then determine if exporting was a viable option. Some luxury cars depreciate as much as 50% the first year. There's unlikely to be anything as authoritative as a Kelly Blue Book for Malaysian vehicles, but you might start looking around at vehicle resale sites and pop into some used dealerships. Realize that the prices they offer to the public are mark-ups. The real price is more like something between the trade-in value and that price.

I found this site that may be useful. It includes the prices of many vehicles in addition to a depreciation schedule.

Auto motor Car Tax calculation custom malaysia

Next consider the export costs (and if you would have to pay the excise duty as you haven't sold the vehicle) and the fact that it may be very difficult to re-sell a Malaysian-assembled car abroad. Also here is the misadventure of shipping a camping van from Malaysia to Canada. Vehicles must be absolutely clean of any organic material or dirt.
http://90kmh.de/2017/07/16-0-vehicle...sia-to-canada/

Compare the differences.

Last edited by RedApe; May 23rd 2018 at 11:24 pm.
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