Thread Starter
#1
Hi guys,
I have never purchased a used vehicle before, And have No experience about the procedure of buying a used vehicle in india. Fortunately TAI is full of threads that provided a lot of information about papers, process and procedure of buying used vehicle and registering it to new owner's name.
But still there are some doubts that need to be cleared before i can start my search for a new vehicle.
1. Can i get Transfer of ownership at any RTO? or do i have to go the the RTO that gave the original RC book to the first owner.
2. How delivery note looks like? Is it just written on piece of paper or some sort of stamp paper?
3. Do i have to provide photocopy of rc paper and insurance to seller? after getting the transfer of ownership
4. how to find if the vehicle was financed (and if EMIs are still being paid)
5. what is sale agreement?
6. I will use the vehicle in the same city as it was registered for 2 years before moving to a different city. Will i have to ask for NOC from RTO at the time of purchase? or do i have to get RTO NOC 2 years after the sale (when i move out of the city)
7. It takes 15 days for RTO to transfer the ownership to buyer. Will i have uninsured vehicle till then? I am still confused about the procedure to get insurance in my name or get new insurance after buying the vehicle.
8. How can i pay for the vehicle? I don't want to buy using cash for obvious reasons, Can i pay via NEFT? What proof do i have incase something goes wrong? Is the transaction record of the bank in account statement, enough? or do i have to get the seller sign on a stamp paper after making payment via NEFT/RTGS?
9. Do i have to get NOC from RTO even if i intend to use the vehicle in the same state? (different city)
10. Suppose i have to transfer the vehicle to a different state and i will have to pay tax again. Do I have to pay the tax on depreciated value or invoiced value of the vehicle? is it 4.5% for all cars/bikes?
11. If i change the color of the vehicle, do i have to get it insured again/get updated by insurance company? (No repaint, only Changed body panels, which are available from OEM in dealership)
12. I came across the term 'after they change RC book name to your name'. Does that mean i will get new RC book from RTO with my name written on it? What exactly will i get after submitting original RC (seller's name), form 29 and my address proof? (do i have to provide form 28 and form 30 to RTO as well?)
13. I don't have address proof from the same city i will be buying the vehicle from. But State is same. Will it cause any unnecessary hassles?
Sorry for long post but this might help others looking for similar answers.
Any help will be highly appreciated
I have never purchased a used vehicle before, And have No experience about the procedure of buying a used vehicle in india. Fortunately TAI is full of threads that provided a lot of information about papers, process and procedure of buying used vehicle and registering it to new owner's name.
But still there are some doubts that need to be cleared before i can start my search for a new vehicle.
1. Can i get Transfer of ownership at any RTO? or do i have to go the the RTO that gave the original RC book to the first owner.
2. How delivery note looks like? Is it just written on piece of paper or some sort of stamp paper?
3. Do i have to provide photocopy of rc paper and insurance to seller? after getting the transfer of ownership
4. how to find if the vehicle was financed (and if EMIs are still being paid)
5. what is sale agreement?
6. I will use the vehicle in the same city as it was registered for 2 years before moving to a different city. Will i have to ask for NOC from RTO at the time of purchase? or do i have to get RTO NOC 2 years after the sale (when i move out of the city)
7. It takes 15 days for RTO to transfer the ownership to buyer. Will i have uninsured vehicle till then? I am still confused about the procedure to get insurance in my name or get new insurance after buying the vehicle.
8. How can i pay for the vehicle? I don't want to buy using cash for obvious reasons, Can i pay via NEFT? What proof do i have incase something goes wrong? Is the transaction record of the bank in account statement, enough? or do i have to get the seller sign on a stamp paper after making payment via NEFT/RTGS?
9. Do i have to get NOC from RTO even if i intend to use the vehicle in the same state? (different city)
10. Suppose i have to transfer the vehicle to a different state and i will have to pay tax again. Do I have to pay the tax on depreciated value or invoiced value of the vehicle? is it 4.5% for all cars/bikes?
11. If i change the color of the vehicle, do i have to get it insured again/get updated by insurance company? (No repaint, only Changed body panels, which are available from OEM in dealership)
12. I came across the term 'after they change RC book name to your name'. Does that mean i will get new RC book from RTO with my name written on it? What exactly will i get after submitting original RC (seller's name), form 29 and my address proof? (do i have to provide form 28 and form 30 to RTO as well?)
13. I don't have address proof from the same city i will be buying the vehicle from. But State is same. Will it cause any unnecessary hassles?
Sorry for long post but this might help others looking for similar answers.
Any help will be highly appreciated
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