Thanks, mullahboy. Another couple of follow up questions if I may...

I am in the process of selling my car - possibly to someone who requires a loan. Does this mean that I would need to transfer the ownership of the car to the dealership first? Would the dealership pays me at the point of transfer or only upon their receipt of the cheque? Would the dealership handle all the re-registration or would I still need to go to the traffic department with the buyer or the dealership people?

Your guidance is most appreciated. Am trying to better understand the sequence of events.