MUV has just announced MUVbid which aims to provide Malaysians with an easier way to sell their existing cars. According to MUV, they are Malaysia’s first and largest 24/7 self-listing vehicle bidding platform that comes with end-to-end solutions. This includes valuation, inspections, insurance and hire purchase.
With the introduction of MUVbid on 24th January, individuals can now upload their car listing on their platform and reach thousands of potential buyers that can purchase their car through online bidding. You can set your asking price for the bid and even set a “Buy it now” for an immediate sale. Sellers can list their car for free and upon confirmation of a buyer, the Puspakom B5 inspection charge of RM140 will be deducted from the selling price.
To provide greater peace of mind for buyers, there’s also MUV Verified feature which allows sellers to get their cars inspected and verified by MUV professionals. This value-add on service is available at MUV hubs located in Seri Kembangan, Petaling Jaya, Butterworth, Georgetown and Johor Jaya. For those who can’t go to a hub, there’s also an optional service where MUV inspectors can check your car at your preferred location for a fee of RM50. The mobile inspection service is offered in the Klang Valley, Penang and Johor.
After the bid, the seller must surrender the vehicle at a MUV hub within 24 hours and the buyer will also have the opportunity to inspect the vehicle. If the buyer is satisfied, the seller can receive their payment within 3 to 7 days if it is paid by cash. If the car requires financing, the payment will take longer.
Besides connecting buyers with sellers, the platform also helps sellers to take care of the manual and time-consuming process such as Puspakom inspection, road tax and transfer of ownership. If required, MUV can also help with financing application for buyers and they will also assist with all the necessary paperwork upon approval.
In case you’re wondering, MUV stands for Marketplace for Used Vehicles and they are a subsidiary company that’s wholly owned by Warisan TC Holdings Berhad. MUV was launched in July 2013 and they started as a traditional used vehicles auction house before it added a mobile app for used car dealers that offers weekly Live Auctions. Eventually, the platform introduced MUVone, a car retail platform and they now conduct MUV Live Auctions twice a week.
For more info, you can check out MUVbid.
