What Is a Company Car?

A company car is a vehicle registered under a business entity rather than an individual. Businesses typically use these vehicles for official purposes, whether for employee use, logistics, or executive transport. When the company decides to sell the car—whether to upgrade the fleet or reduce costs—the selling process differs slightly from selling a privately owned vehicle.

Selling a Company Car vs a Privately Owned Car: Key Differences

Selling a company car in Malaysia involves extra paperwork and approvals compared to a private car sale. The main differences include:

1. Ownership Transfer: Since the car is under a company name, the transfer must be legally executed by an authorised company representative.
2. Company Approval: Internal approval, such as from directors or stakeholders, may be required before selling the car.
3. Tax & Compliance: Depending on the company’s tax structure, selling the car may involve financial reporting or SST implications.

Required Documents for Selling a Company Car in Malaysia

To ensure a smooth transaction, you need to prepare the following documents:

1. Original Vehicle Registration Card (Geran) – Proof of ownership under the company.
2. Company Authorisation Letter – A formal letter authorising the sale, signed by an authorised director or officer.
3. Board Resolution (if applicable) – Some companies require a board resolution to approve the sale.
4. Form 9, 13, 24, and 49 (or Section 17, 14, and 58 for SSM Registered Companies) – Company registration documents from Suruhanjaya Syarikat Malaysia (SSM).
5. Company Stamp – To authenticate all signed documents.
6. Seller’s Identification (NRIC of the authorised person) – The person handling the sale must provide a valid IC.
7. Vehicle Insurance Cancellation (optional but recommended) – Ensures no liability remains under the company’s name after the sale.

Risks of Not Following the Proper Process

Selling a company car without following the correct steps can lead to serious issues, including:

1. Legal Liability – If the car remains under the company’s name after the sale, your business may be held responsible for any accidents or legal disputes.
2. Tax Complications – Unreported sales may lead to audit issues or financial discrepancies in the company’s accounts.
3. Ownership Transfer Delays – Missing paperwork can cause delays, making it harder to finalize the sale.
4. Fraud & Scams – Unsuspecting sellers may fall victim to fraudulent buyers, especially when dealing with private transactions.

How Mobee Cars Can Help

Selling a company car doesn’t have to be complicated. At Mobee Cars, we simplify the process by:

1. Handling all documentation and ownership transfer for you.
2. Connecting you with verified buyers to ensure a safe and hassle-free transaction.
3. Providing a transparent price based on real market data, so you get a fair offer without the guesswork.

Ready to Sell Your Company Car?

Get started with Mobee Cars Malaysia today and let us handle the process for you. Simply get a free car valuation or contact us for assistance.