Second-hand vehicles are the most common word used in India. Generally, all the people living in India would have got the second-hand vehicles to say car, two-wheeler, etc. at least once in their lifetime. Buying second-hand vehicles in India is a common thing since all the people living here could not afford the price of a new vehicle. And, nearly half of the people in India tend to buy second-hand vehicles in order to satisfy their needs to fit in the regular life cycle. Everyone wishes to own a car to themselves but even though they cannot afford it they could always afford second-hand cars and that they will not be left out in this society.
What should we do after getting a second-hand car?
When you wanted to buy a second-hand car check for the following,
- Firstly, check for the condition of the car because the vehicle must be in good condition and also value for money.
- People always used to test drive cars when it comes to buying either new cars or second-hand cars which are the right way to test the condition of the car.
- Also, take the car to check the mechanical parts by a service centre or a mechanic.
- Now go with the registration process by checking the documents of how many times the car has been resold or it’s a new car. Also, make sure you receive all other documents like the original invoice of the car, NOC (No objection Certificate) from whom you are buying the car, road tax receipt, etc.
- SO, you and the seller should sign Form 29 and Form 30 for an effective car transfer and where the seller must sign Form 29 for the NOC.
When it comes to the car it is always important to ensure to insure it by getting a car insurance policy to protect it from Calamities, third party liability, theft, etc.
Checking for the insurance,
- Check the car’s IDV or Insured Declared Value for the price negotiation.
- Check for the NCB or No Claim Bonus over the past 2-3 years since if the previous owner has made many claims then the car gets repaired or damaged easily.
- Transfer the insurance policy to your own name instead of the previous owner or buy a new policy from the date of transfer of the vehicle. In case you do not do this there may be situations where you cannot claim during unavoidable circumstances.
After you wish to buy the car your immediate process should be,
- Visit the RTO.
- Fill up the application to transfer the RC of the car to your name.
- Submit the documents required.
- Fill up a fresh proposal form.
- Submit the form along with the other documents.
- Pay the policy transfer fee.
- The Insurance Company transfers the policy to your name.
