The used cars market in India is one of the most emerging across the country. However, the procedure of buying a used car in the country is quite complicated. Although only a handful of documents are essential to own a new vehicle, used car registration in your name give a lot of pain.
Here’s what you need to know about the process of buying and registering a used car in India:
Why Transfer Used Car Ownership?
During the process of buying a brand new car, the documentation usually happens in the name of the person who bought it. On the other hand, when the vehicle is sold forward to a different entity, the process of documentation process should be done from the scratch. For any other information on car transfer or the latest news on cars, look for international car news in Hindi online. These websites offer Indian and international auto news to keep you updated on minor and major details.
Here are some reasons you need to do so:
1. If the ownership is not transferred, the original owner will be detained, in case of an accident.
2. Without a transfer, the new owner may face a lot of trouble during insurance payouts.
3. The details of first owner are required when selling the car further.
4. If the address mentioned on RC is old, then all future documentation will happen only in the old address.
Documents Needed for Used Car Ownership Transfer
1. Road Tax Certificate or RC
2. Driving License
3. Insurance papers
3. Insurance papers
4. Pollution Under Control Certificate
The Process of RC Transfer for Used Car
Step 1: The process starts with the submission of the original RC Copy Book.
Step 2: In case, there is a loan, a NOC (No Objection Certificate) from the financier combined with RTO Form Number 35 is needed.
Step 3: Get VIN (Vehicle Identification Number) imprinted.
Step 4: Arrange two copies of RTO Form Number 29. You would also need 30 Sale Transfer forms which are to be signed buyer and seller.
Step 5:Get attested copies of address proof. Here, the address proof of both seller & buyer is needed. Here, the address should be similar to that mentioned in RC. In case, the addresses vary, enclose an affidavit.
Step 6: Get attested copies of PUC certificates and insurance policy.
Step 7: Get an attested copy of PAN Card of Buyer. You may even get a Form 60, 61 for the same.
All of the above listed documents are needed when transferring used car ownership within the same city. However, the process will differ when one transfers the car from one city to another within a state. The process will also vary while changing address from one state to another.
Documents to Check Prior to Buying a Used Car
– Always check for owner name, VIN, and address on RC.
– You should match the information with seller’s ID proof.
– Check the details given on insurance papers. You need to match these with VIN.
– In case, the car was bought with a car loan, get NOC by the bank from the seller. This is a prerequisite for RC transfer.
– If the car is fitted with CNG, check carefully if CNG is stated clearly on the insurance papers and RC.
Some Important Points to Know
1. You should know in advance what all documents work as address proof with the RTO. It may not consider credit card statement, rent agreement, and appointment letter of a private company are not approved as address proof.
2. The seller may not be required to give his/her presence at the time of re-registration. However, it is the duty of the buyer to arrange all requisite documents.
3. In case, the signature of the seller on the ID proof and documents vary, the RTO has the right to call the seller to avoid any fraudulent activity such as the theft of the car.
4. It takes around 15 days for the RTO to process all documents. It entirely depends on RTO to RTO. One should confirm the exact time required to complete the procedure.
5. During the process of transfer, all documents will be with RTO. Hence, as a precautionary measure, the seller should submit a Form TCR in order to intimate the RTO office. This form should be tagged along with a copy of address and ID of the buyer.