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Documents required to buy 2nd hand vehicle
03-Oct-2023 (In Documentation Law)
Sir, I am purchasing a royal enfield bike Registerd in thane RTO from the 2nd owner, but he has not registerd the vehicle under his name till now, the vehicle is under the name of 1st owner As i am planning to get NOC From RTO to transfer the bike in karnataka . As the seller had confirmed to provide me all the required documents to avil NOC such as form 28 , form 29, form 30 which he is having & signature of the 1st owner. Please advise shall i go for the deal to buy
these are the following documets you would require
1. Registration Certificate
The registration certificate (RC) provides you with all the important information related to the car including the VIN number, engine number, chassis number. The older cars will have the RC book, while the newer cars get a smart card. It also mentions the owner details, registration number, colour and so on. You need to check if all the details on the RC match with the car as well. Any changes like the engine or colour has to be updated on the RC as well. When getting the car transferred, you will have to make the ownership changes on the RC under your name. On the smart card, you will have to update the OSL (Owner Serial Number) to No. 02 as the second owner.
2. Insurance
The car needs to be insured when plying on the roads. You will have to get the insurance transferred under your name. If the car insurance is expired, you will have to get a new insurance for your car and that leaves you to getting a better deal for your car, while also reducing the purchase price of the car. Make sure you opt for a third party insurance for your car. You can also have your own insurance transferred from your old car to the new car, if you have a no claim bonus resulting in lower premiums.
3. Road Tax Receipt
The road tax would be paid when the first owner registers the car when new. Make sure the road tax has been paid by the first owner to avoid any penalties, which could end costing more than the car itself. You need to get the original receipt of the road tax with other documents of the car.
4. Car Purchase Invoice
The original car purchase invoice will be issued by the dealer when the car was purchased new. If purchasing from a dealer, he will also provide you with a new car purchase invoice under his company brand. In case of purchasing from an individual, you need to ask for a sale receipt duly signed by the owner that conveys the sale is complete with full payment made.
5. Octroi Receipt
If you are living in Mumbai, this is an additional document that you will need to ask for. There will be a receipt along with other documents for the full payment of the octroi. Make sure you are given the same as well.
6. Service Book
The service book will have the whole history of the vehicle, right from the service schedule to the report of any accidents. It will also mention the next date of service and parts that were changed on the car. A car with complete service record is a more preferred buy.
7. Dual Fuel Certification
If you are purchasing car with an aftermarket LPG or CNG tank, make sure there is a corresponding dual fuel certification and the no-objection certificate from the RTO, which certifies that the car is safe and compliable to run on both fuels. You need to ask the seller for the sale receipt of the installed tank.
8. Form 32 & 35
Form 32 and 35 will be needed for cars that had a loan on the car. Ask the seller for a no-objection certificate from the bank or finance company, stating that the loan has been duly paid to the bank. If you are purchasing the car along with the loan, you will have to get the loan transferred under you name as well. You can also pay directly to the bank and settle the loan after purchasing or continue paying the EMI’s.
Apart from the necessary documents, make sure the owner’s manual is handed over to you and so are the other accessories related to the car that you mutually agreed upon.
1. Registration Certificate
The registration certificate (RC) provides you with all the important information related to the car including the VIN number, engine number, chassis number. The older cars will have the RC book, while the newer cars get a smart card. It also mentions the owner details, registration number, colour and so on. You need to check if all the details on the RC match with the car as well. Any changes like the engine or colour has to be updated on the RC as well. When getting the car transferred, you will have to make the ownership changes on the RC under your name. On the smart card, you will have to update the OSL (Owner Serial Number) to No. 02 as the second owner.
2. Insurance
The car needs to be insured when plying on the roads. You will have to get the insurance transferred under your name. If the car insurance is expired, you will have to get a new insurance for your car and that leaves you to getting a better deal for your car, while also reducing the purchase price of the car. Make sure you opt for a third party insurance for your car. You can also have your own insurance transferred from your old car to the new car, if you have a no claim bonus resulting in lower premiums.
3. Road Tax Receipt
The road tax would be paid when the first owner registers the car when new. Make sure the road tax has been paid by the first owner to avoid any penalties, which could end costing more than the car itself. You need to get the original receipt of the road tax with other documents of the car.
4. Car Purchase Invoice
The original car purchase invoice will be issued by the dealer when the car was purchased new. If purchasing from a dealer, he will also provide you with a new car purchase invoice under his company brand. In case of purchasing from an individual, you need to ask for a sale receipt duly signed by the owner that conveys the sale is complete with full payment made.
5. Octroi Receipt
If you are living in Mumbai, this is an additional document that you will need to ask for. There will be a receipt along with other documents for the full payment of the octroi. Make sure you are given the same as well.
6. Service Book
The service book will have the whole history of the vehicle, right from the service schedule to the report of any accidents. It will also mention the next date of service and parts that were changed on the car. A car with complete service record is a more preferred buy.
7. Dual Fuel Certification
If you are purchasing car with an aftermarket LPG or CNG tank, make sure there is a corresponding dual fuel certification and the no-objection certificate from the RTO, which certifies that the car is safe and compliable to run on both fuels. You need to ask the seller for the sale receipt of the installed tank.
8. Form 32 & 35
Form 32 and 35 will be needed for cars that had a loan on the car. Ask the seller for a no-objection certificate from the bank or finance company, stating that the loan has been duly paid to the bank. If you are purchasing the car along with the loan, you will have to get the loan transferred under you name as well. You can also pay directly to the bank and settle the loan after purchasing or continue paying the EMI’s.
Apart from the necessary documents, make sure the owner’s manual is handed over to you and so are the other accessories related to the car that you mutually agreed upon.
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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