I’m Malek Ali And This Is How I Spend

In 1997, Malek Ali ventured into the classifieds business with KLClassifieds. It was a free newspaper and the country’s first all-classifieds publication yet the timing was horrible: The Asian financial crisis surfaced, the business folded, and the budding entrepreneur was left RM300,000 in debt.

Today, Malek is known as the founder of BFM, the country’s first business radio station. He is also a mentor on Endeavor, a platform that pairs some of the biggest names in business with promising entrepreneurs.

In this new series, Malek speaks to iMoney about his journey as an entrepreneur and the insight he has gained by striking it out on his own. Here’s how he spends.

Let’s start with after KLClassifieds bombed. How did you climb out of that RM300k hole?

Something fortunate happened. Mark Chang, whom I knew when I was launching my classifieds product, called me up and asked me to join Jobstreet.

I said, “Okay, I’ll consider it.” He told me, “Malek, your salary will be around RM6,000”, and I was looking at the numbers… I had a RM300,000 debt at that time and I couldn’t make ‘the numbers’ work, right?

So, I apologised. JobStreet had great potential, but I couldn’t do it as I’d probably have to go to Singapore to get a job. I was a management consultant before this and I needed that kind of job to pay off my debt. And I had to earn a hard currency as the ringgit had tanked.

We left it at that. But two or three days later, I got another call from him and he asked me to come over to meet some of the Jobstreet co-founders. It was a really odd interview, it wasn’t about my skills, more like my philosophy, family, ambitions, etc.

Then I was asked to wait in the next room.

After a while, Ng Kay Yip, one of the Jobstreet co-founders I met came in my room. He sat me down and said, “This is what we are going to do, I’ll give you a cheque for RM200,000, you pay off your bank loan, and then you come and work for Jobstreet.

“We’ll figure out a salary for you after we get some venture capital funding, but for now what I’ll do is, I’ll pay off your loan. If we fire you or find you not suitable for the role, you don’t have to pay the loan back. But if you leave on your own accord, you pay the loan back.”

At that moment, I thought I should have told him the real number of my debt, which was towards RM300,000, but I said RM200,000, which was the principal amount. I should have said the real figure. [laughs]

So, in a way, this was a golden-but-strings-attached handshake, but to me, it solved one big worry of my life. Is that serendipity? I mean, who does that for you, right?

That’s how I got into Jobstreet and out of the hole.

Great. So name one lesson you learned from that episode?

Be authentic. If Kay Yip or any of those four guys (Jobstreet founders) smelled any sense of falseness or ego, then that wouldn’t have happened. Be an ethical entrepreneur or businessman and you will be fine.

The media industry is filled with highs and lows. Tell us your money management rituals.

I have two hats on all the time. As a professional, my money habits are fairly stable, meaning fairly conventional. I put some money towards savings, and budget whatever I spend, and it’s nice to see one’s savings expand over time.

As an entrepreneur, it’s slightly different. I can’t charge my company a market salary as it’s not viable for the company and in any case I have equity, so I pay myself a salary that will pay for my basic living expenses.

What if it’s a new venture?

When I go into a new business, I check if I have enough savings, enough to last me during that lean period, and that is aside from retirement or education savings.

That’s what happened with BFM. I put aside a certain sum to start BFM, and had enough left over to tide us over as a family  for three to four years. I was lucky: Jobstreet listed and I had a small windfall from that.

The rest of the funds needed for BFM was raised from investors, which included some of the co-founders of JobStreet.

So, while on the professional side, it’s fairly easy and conventional, but on the entrepreneurial side, you must always have this buffer to tide you over during the lean times.

You seem to be risk-averse. What gives?

I’m not so much risk averse but more traumatised from that first entrepreneurial experience. I always try keep my expenses low, no fancy cars, and I consider a coffee at Starbucks as a treat. In fact I don’t own a car in Malaysia anymore; I just Grab or Uber (the cheaper Economy and X versions respectively!).

I even walk to work. I chose an apartment near my office and I walk to work. That’s the entrepreneurial lifestyle.

The co-founders of Jobstreet sold their company for some US$660  million but still live relatively modest lifestyles. Why? I think anyone who’s gone through the Asian financial crisis in 1997 have that battle scar to show for it.

What do you spend your money on then?

Experiences. I recently brought my family for a 10-day vacation in Spain but that’s still Airbnb and not your five-star St. Regis. Yet it was still a great experience.

So I spend on experiences and it doesn’t have to be expensive.

You don't spend on yourself?

Well, I have been battle-scarred, right? So there’s these once every three years (points to his two iPhones, one an iPhone 5, the other an iPhone 6). One for my Malaysia number, the other for my Singapore one. And the iPhone 5 is a hand-me-down from my wife.

What else do I spend on? This (points to Fitbit) a compatible weighing scale that syncs to it, but these are things that help my health.

Though I rarely go to Starbucks, I still like my coffee. So, I have filtered coffee in the office.

That’s the entrepreneur’s lifestyle. What else… like you, I eat out sometimes. So those are my only personal expenditure and that has been my lifestyle. Sadly it is now so ingrained that despite not having to do it anymore, I still do it.

I'm throwing this question out simply because of the correlation between personal debt and consumer spending. What's your take on that?

Cut those unnecessary discretionaries. If you have a problem, then turn to the bank/credit card company and tell them that you have a problem and ask them to give you a debt repayment plan.

Basically, you’re trying to cap that unnecessary discretionary expenditure.

I think you can live without going to the Starbucks of the world. If you’re in debt, you just have to forego it. You really have to live modestly, it’s possible but it’s just hard. It’s tough.

And, maybe, that’s where the problem is. I’ve seen this happen: In your early years, you spend on that odd thing and then you buy something, you buy this and that and before you know it, you have maxed out your credit card. You are just servicing the interest and things like that.

So if that’s the problem, cut the unnecessary discretionary stuff and use the cash to pay down the debt till its zero.

Tell us your best financial hack.

I hate the word hack. It’s a dangerous term in finance. There’s no shortcut, if there was, it would be extremely risky or even a scam.

But there’s one crazy so-called hack that people in Malaysia are doing – you buy a property and you pay 10% down payment. If the property goes up 10%, you sell it and you double your money, because you only put up that 10%.

But what if it goes down 10%? Then you lose your whole capital! The real word for this hack is leverage and it works both ways. It’s a double-edged sword: you can do really well… or you can do really, really badly.

And I’ve been caught up once in this euphoria, of this particular “financial hack”. It worked the first time,  but the second time it didn’t.(Luckily, I got out from the second deal with just a haircut).

That’s why I don’t like the word hack because it is basically about making money quickly. But it works both ways, man. If you are on the wrong side of the deal, you’re toast.

All right, how about a tip?

Invest for the long term. Diversify. You need to invest in equities as well, not just in a home. When it comes to unit trusts, the only qualifier I have is look at the fees carefully, but I would say unit trusts are a good way of diversifying.

But I do have one tip: Save some money to invest in the potential 10x-ers. Things that have the potential to be worth ten times of what you bought it at.

What were some of my potential 10X-ers? We’re talking about a time horizon of the last 12 years. It was Digi and KNM in the mid-2000s, then Google.

I bought into Visa, Facebook and Alibaba when they listed, and Amazon when I realised that BFM, located on the other side of the world, was buying this Amazon service called AWS.  Tencent and BYD are now on my radar screen. So out of them, so far, there are about two 10x-ers, one 8x-er, three 4x-ers, and one half-Xer. The last one was Fitbit!

In identifying these 10x-ers, I do look out for companies who are still led by their founders. Bet against a driven founder at your peril. That explains my faith in Facebook, Google, Amazon, Alibaba and Tencent.

What’s the best financial advice you’ve received?

Learn on other people’s time. When I started KLClassifieds, I was learning on my own time. That short lesson on entrepreneurship landed me RM 300,000 in debt.

It could have been easier, I could have learnt client and account management if I had stayed at the Boston Consulting Group for another 3 years (I had to learn this the hard way at KLClassifieds, and later at JobStreet).

But I did learn on other people’s time when I was a lawyer at Allen & Overy and when I was in product development at Maxis. That two-year stint at Maxis put me in good stead in terms of being able to read the mobile industry for the next seven years.

So don’t discount the value of spending a bit of time being employed, and learning lifelong skills while being paid a salary at the same time. Don’t feel you need to be in such a rush. If you have not grasped something, it might not be the time to go yet.

Nice. Last, who would you want to see answer these questions?

Datuk Tong Kooi Ong, who has a weekly portfolio column on The Edge Weekly.

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Tips to Milking Your Credit Cards for Every Last Reward

Are you maximising the full benefits your credit cards have to offer? Here are some tips to get the most of your credit cards. There are so many rewards and benefits that our credit cards offer. Are you maximising your full benefits? Here are some tips to get the most of your credit cards. We talk a lot about credit cards here on RinggitPlus and for good reason. They're an easy way to build good credit history, a handy way to keep track of our monthly expenses, and plenty of them offer great rewards. That being said, there may be times when we haven't really exploited all we can from what these cards offer us. Here are some tips and tricks to squeezing out every bit of rewards from your credit cards. Pick a Credit Card That Fits Your Lifestyle Just because some cards offer great rewards, doesn't mean your spending habits will get those rewards to you. So when choosing a credit card, be sure that what the card rewards you for things you're already doing. It doesn't make sense to get a travel-rewards card when you don't even have a passport now, does it? Pay Attention to the Annual Fee If you can, it's always best to pick a card that has no annual fee in the first place. However, even if you already have an annual fee attached to your credit card, try calling the bank to see if you can get it reversed. Certain banks may waive the annual fee if they deem that you swipe enough on the card already (subject to various bank policies and approvals). Check Your Card's Hidden Perks    We've covered the importance of lesser-known credit card perks before, but it's worth repeating. Things like purchase protection, complimentary insurance, and the like might be benefits that your card already covers so take advantage of these whenever possible. Get Apps to Help You Find Credit Card Deals Mobile apps like CIMB Deals or the Maybank2U app let you search around for merchants that offer additional reward points, cash back, discounts or goodies when you swipe your card. These come in super handy to optimise your rewards earnings. Switch Out Your Cards for Different Rewards Since different cards offer different rewards, rotating your cards to use for different purposes helps to maximise your benefits even more. Have a petrol card for refueling, one for groceries, etc. Don't Forget To Use Your Rewards and Points Some rewards expire, so don't sit on them too long and check up regularly to know if there are any free privileges of discounts you're missing out on. Streamline Your Rewards Certain credit cards allow you to choose the kinds of rewards you get, whether it's air miles, points, or cash back. Call up and check to see if they have this on your card, and if they do, adjust it such that the rewards you get will be the type you'll reap the most benefits from. Great rewards from credit cards mean nothing if you can't exploit them to their absolute maximum, and we hope our tips can help. If you want to check out which credit cards offer the best rewards, click over to our comparison tool and see for yourself! Do you have your own credit card rewards-maximising tips? Share them with us in the comments section down below! Source

5 Things You Can Do To Lower Your Motor Insurance Premium

Motor insurance de-tariffication will be in effect next month, so prepare yourself with these tips on how you can lower your motor insurance premium!

If you’re a car owner, you’re probably used to paying pretty much the same amount each time you renew or purchase a new motor insurance policy. Why? That’s because the motor insurance premiums in Malaysia have always been regulated by the Bank Negara. But all that is about to change soon!

As of July 2017, motor insurance in Malaysia will be de-tariffed and the premium will vary according to your driver’s risk profile. That means even if you and your neighbour are driving the exact same car and made in the exact same year, both your motor insurance policy premiums will likely be different than one another.

This also means that there are open opportunities for you to save on your motor insurance premium! Check out our five tips on how you can lower your motor insurance premium once the de-tariffication kicks in!

1. Think Before You Switch Your Car

It goes without saying that the more expensive the car is, the higher the premium will be. But with the de-tariffication in effect, there are more to what will induce a higher motor insurance premium than just the price of the car you own.

Other factors such as the age of the vehicle, duration the car is on the road (as in its mileage), as well as safety and security features installed in your vehicle play a role in determining your motor insurance premium.

This means that if the car you’re looking to buy – whether it’s brand new or used – doesn’t have a good safety and security features or has a high mileage, you might still be paying a steep price for its motor insurance premium. So, if you’re planning to switch to a new or used car, be sure to get one that has good safety and security features and is less than 10 years old to minimise on the cost of your motor insurance premium.

2. Shop Around and Compare Prices

If you often browse and search for the best value item during grocery shopping or year-end sale to get the best of the best deals, you wouldn’t have a hard time doing the same for your motor insurance policy.

A word of caution, though; be sure to compare the prices of like-for-like coverage. Some policies may offer amazingly low prices, but they may not provide the sufficient coverage you need to protect you and your vehicle.

When in doubt, use comparison sites to help you search for the most suitable motor insurance policy to suit your needs and budget. All you need to do is key in your details and you’ll receive quotes from multiple insurers in an instant!

3. Only Get the Coverage You Need Most

Getting additional coverage is all very good and well - in theory. The reality is, the more coverage you add to your policy, the more money you’ll have to fork out for the premium. Of course, if you have the money, it’s good to have the additional protection.

There are quite a number of add-on covers to choose from, such as car accessories cover, strike, riot, or civil commotion cover, special perils (flood, typhoon, or landslide) cover, and personal accident insurance.

Some add-on coverage could be worth the additional premium – depending on your needs. For example, windshield coverage helps cover the costs of your car’s windshield repairs and replacements.

This added coverage is typically calculated as 15% of the windscreen value, which is a smaller price to pay than having to pay for the full cost of the windshield replacement if yours do get damaged. What’s more, making a claim for windshield replacement will not affect your No Claim Discount (NCD) bonus.

4. Keep Good Driving Habits and Behaviour

Always remember; the higher your driver’s risks are, the higher your motor insurance premium will be. Avoid any situation that will put you at the risk of breaking the traffic law - that includes parking at illegal and unsafe spaces too!

According to the General Insurance Association of Malaysia (PIAM), some of the factors that will influence your motor insurance premium rate include the duration on your vehicle is on the road, the geographical location of your vehicle (as in if the area you live in or park your car the most has high car theft or car collision rate or not), as well as traffic offenses recorded.

Since your car’s safety plays a role in determining your motor insurance premium (not to mention it benefits you in the long run), it makes sense to install safety and security features on your vehicle. The preventive measure will decrease the risks of your car being stolen or suffer serious damage in collisions, which results in a lower premium.

Check with your mechanic or visit an auto-accessory shop, you’ll find plenty of vehicle safety and security features to choose from such as forward-collision warning, backup camera, blind-spot warning, as well as the must-have anti-theft system.

5. Reduce Claim History

As you know, No Claim Discount (NCD) is the only way for you to reduce your motor insurance premium at the moment and the good news is that the NCD structure will remain unchanged. You can continue to transfer your NCD from one insurer to another after the de-tariffication takes effect.

So now there is more reason for you to drive responsibly and abide by the traffic laws. Not only it’s for your own safety, it also helps towards reducing your motor insurance policy premium! If you’ve never been in a car accident, you’ll be entitled to a No Claim Discount (NCD) of up to 55% of your policy premium - that’s a lot of savings you can make each year!

These are just some of the more basic things you can do to help lower your motor insurance premium, but always keep in mind that cheaper is not necessarily better. Buy a policy from an insurer that provides you sufficient cover as well as a friendly helping hand during those emergency times such as RHB Insurance.

Do you have any other tips on how we can lower motor insurance premiums? Don’t hesitate to share your thoughts and suggestions in the comment section below!

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You Could Be Paying Higher Car Insurance Premium Due To These Reasons

Effective July 1, 2017, insurers offering car insurance will consider more factors when they are underwriting your car insurance policy. This means potentially higher or lower premium when you are purchasing or renewing auto insurance.

This falls under the second stage of the Phased Liberalisation of the Motor and Fire Tariffs announced by Bank Negara Malaysia last year.

Currently car insurance focuses on the type and age of the car, the driver’s personal details such as age and gender, as well as the number of claims made.

With the detariffication, all of these will still come into play when the insurer is determining your premium, but additional factors will be considered as well. This is so that insurance companies can offer a more competitive premium that is specifically tailored to consumer needs, and encourage greater innovation in the industry as well as provide sustainable protection for drivers in Malaysia.

Although the full list of factors are not released or confirmed yet by the authorities, here are some that have been pointed out thus far.

How many traffic offences you’ve committed

Think those speeding and parking summonses you’ve accumulated years ago will not come back to haunt you? Think again. The upcoming changes reported will see you having to pay more in the future. According to Zakri Khir, Chief Executive Officer of Allianz Malaysia Berhad, the data for traffic offences is made available to insurance companies in most of the matured markets.

With this information made available, only those who rarely get or don’t get any summonses have the upper hand. They are able to get lower premiums due to a good traffic record. But will it be available any time soon?

Not really, said Zakri. In fact, most companies do not have access yet, so it might take some time for Malaysia to move into this direction.

But that doesn’t mean you should take it easy, drivers. Best to keep your act as clean as possible to get better premiums in the future!

Safety and security features of the vehicle

The model of your car has always played a role in the overall premium, but it mainly involved looking into your car’s market price and engine capacity. With the changes in premium, this will now include the safety and security features in your car.

Not all car models have the option of adding on safety and security. Even if your car model has the option to add-on safety features, you may still opt out of it as it tends to cost more. But if you opt in for these extra features, the savings from your motor insurance premium in the long run may be worth the one-time investment.

Zakri has mentioned that insurance companies may also ask customers to declare any additional safety and security features that will offer a lower premium. So if you really want to lower your premium, spending more to keep your car safe may be a good option to look into.

How likely is your car to be stolen

You may want to get that Proton Wira or Toyota Hilux for a variety of reasons, but once you do, your premium on your car insurance will go up. Cars that are in the list of most likely vehicles to be stolen are, of course, a risky car to insure. This means that you will have to pay more for owning a car that’s high on the stolen list.

There are statistics available on car thefts that is provided by the industry and Zakri has also confirmed that car insurances have their own data from their claim history to refer to. Before you buy a vehicle, it’s best to check if it’s on the list.

No.	2015	Number of stolen vehicles
1.	Proton Wira	1214
2.	Toyota Hilux	595
3.	Proton Iswara	552
4.	Perodua Kancil	550
5.	Proton Waja	538
6.	Perodua Myvi	379
7.	Proton Saga	318
8.	Proton Satria	238
9.	Nissan Vannette	208
10.	Honda Civic	200

Source:  General Insurance Association of Malaysia (PIAM)

Geographical location of the vehicle

The geographical location will also play a role in how the premium will be calculated. How will this be determined? According to Zakri, it will depend on the address, usage of the car and where your car is registered.

Depending on these factors, your premium will likely go higher or lower, as it determines how safe the car is at these locations. Just like how your premium is affected by the model of the car according to the list of stolen vehicles, your premium will also be determined by the locations that have a high chance of car theft. So if you park or drive at a place that’s considered risky, you will be slapped with a higher premium.

Duration and driving style on the road

This one isn’t a set factor for now, but it will be considered with the introduction of a new technology that can help track the duration of vehicles on the road. Discussions on the use of telematics is still ongoing, but the purpose of it is to track down a driver’s driving style.

With this data, insurance companies can lower the premium for drivers with good driving habits. The presence of the telematics will also allow insurers to develop products that can be catered to different groups to improve efficiency and pricing strategies.

As this will take some time to set up, this will likely not be happening any time soon. But in time, this could be possible and not only will this affect your premium, it could also make you a better driver!

Here is the take away

The whole point of liberalising the auto insurance industry is to spur a more competitive market for consumers. This means consumers will now have the option of lowering their insurance premium for their vehicle by being a better driver or doing their due diligence in comparing products in the market.

Still, these factors aren’t completely being used for now. According to Zakri, these listed factors all depend on the claims aspect and loss ratio which will differ by different risks. Not all the factors will have similar impact, but the likelihood of car theft and geographical location is one of the more significant factors.

These new factors could work to your advantage or disadvantage. So, do your research and make better comparisons when you are shopping for car insurance in the future!

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“This Is How I Sold My Car In A Week At A Great Price!”

I have finally made the decision that I was mulling over for the past three years. I paid off my car three years ago and had been playing with the idea of getting a new ride, but has procrastinated due to various reasons.

I told myself that I would enjoy a few years of not having to pay for my car instalment, and it is a financially prudent thing to do. But the truth is, I was too lazy to deal with the hassle of selling my car. Plus I’m not willing to sell it way below market price should I opt for the trade-in option.

But all good things must come to an end. After 10 years, I’ve finally decided to upgrade my ride because I found an easy and the least troublesome way to do it.

Here’s my experience and some lessons I’ve learnt in selling a car that will be helpful to Malaysians:

What’s the market rate?

First of all, before you decide which platform you are going to sell your vehicle on, you need to know what your car value is. The price for used car depends on the manufactured year, mileage and most importantly – the condition of your car.

For example, I was looking to sell my 2007 Perodua Myvi EZ 1.3.

So, I started looking up cars of the same model and year on e-commerce platforms to see how much people are selling it for. Once I have an idea, I also asked myself what I am willing to sell it for. However, remember, the listed selling price on these ads by private sellers are usually market selling price and it is much higher than trade-in price.

After I’ve done some research as a seller, there are a few factors that might in negotiating a higher price such as:

• Lower mileage (I compared it to other cars of the same year.)
• Accident free
• Overall condition

With that in mind, I started looking for platforms to sell my car.

Where to sell your car?

One thing I was pretty sure of was, I did not want to sell it on my own because I just did not have the time to meet various potential buyers and negotiate pricing with all of them.

It was not just a waste of time and resources, it could also pose some danger as I was not keen to meet random strangers.

This brought me to Carsome. It sounded pretty straightforward but I was not sure I could get the price that I want. There was no harm in trying though.

First, I set up an appointment on their website by just filling up my car and personal details. This takes less than two minutes, and I get an estimated price for my car after the submission at RM11,800. However, I was only willing to let go at RM13,000.

Screenshot from Carsome

Then, I received a call from Carsome to verify my details and make an appointment for an inspection. The inspection was carried out at their inspection centre at Kelana Jaya.

Carsome have also just launched another inspection centre in Old Klang Road, so you can choose the inspection centre that is the nearest to you.

SMS from Carsome for inspection appointment

How much can you get?

On the date and time scheduled, I showed up with my car and met up with the inspector-in-charge. He checked for signs of previous accidents, the engine and the interior of the car and also did a quick test drive.

Inspection at Carsome

After the inspection, which took about 15-30 minutes, he informed me of the issues found. Then, he offered me a price based on my actual car condition, which if I was agreeable to, I could just transfer the ownership and walk away without the car.

Sounds easy? Of course, I thought my car could definitely fetch a higher price than what was offered. So, I opted for the bidding option. At this point, the inspector-in-charge asked me what was the price that I’m willing to accept at the bid, and I told him it has to be at least RM13,000.

The inspector-in-charge also discussed the reserved price for the bid, this is the starting price of the online bidding. He advised me on the suitable reserved price, which is usually the same as the price offered after the inspection.

My appointment for inspection was on March 1, 2017, and the e-bidding happened on March 3, 2017.  I was told to wait for an SMS and email with a link to the bidding site which would be up for three hours. The bidding will be participated by 600+ certified used car dealers around Malaysia.

SMS from Carsome on the e-bidding

You can monitor the bidding online using the link sent to you via SMS. Here’s how the bidding dashboard looks like:

Bidding on Carsome

If you are unable to monitor it live online, you will also receive an SMS and email to inform you that the bidding has ended. By clicking on the link in the SMS/email, you’ll be able to accept the final bidding price instantly.

SMS from Carsome at the end of the e-bidding

The bidding went on for three hours as promised and I got a price that was higher than what I initially wanted. (Yay!) Immediately after the bidding ended, the inspector-in-charge called me to congratulate me on the good price and reminded me that I have 24 hours to accept the bid.

The price that was offered by Carsome was a trade-in price and the price that I would like to let go is at RM13,000. I’m happy that I was able to get a price that is higher than my expected price through Carsome’s bidding platform.

Accepting the offer

Selling the car was a major decision for me. Although I started the process of selling it on Carsome, it took me a while to finally bring myself to accept the offer. That was more of an emotional decision I needed to make, but I eventually did.

When I have accepted the offer, a new appointment was set for me to transfer ownership of the vehicle and hand over the car. I went back to Carsome’s office in Kelana Jaya on March 8, 2017.

The paperwork took less than an hour, and at the end of it, I bid my car of 10 years goodbye, and got on an Uber (worth RM20 that Carsome paid for) to wherever I wanted to go.

The money was transferred to my account at the same time. The whole process done without having me breaking a sweat within a week!

From my personal experience, the process was pretty seamless and convenient, but that’s probably because my vehicle was problem and accident free. For a car that has had an accident before, the price would probably reflect that.

Although the price might not be as high as the market selling price, the service was free and it definitely saved me a lot of time. I did not have to do the legwork to handle the documentations involved in selling my vehicle. It was pretty much hassle-free from the start till the deal was sealed.

I chose the bidding option which took more time compared to taking up the first offer by Carsome, but I find it flexible that customers are provided with two options. Those who would like to sell their car off as soon as possible have the option of selling it within 24 hours!

However, if price takes precedent in your consideration, you can still opt for the second option, which is online bidding. Both options save the sellers from having to deal with multiple “potential” buyers with no guarantee of selling their car in a short time and at a good price.

If you are looking for the easiest way to sell your vehicle at the best price possible with the least effort, Carsome has to be one of the more attractive options to do so.

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