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Assuming
that you have decided to buy a particular car,
it is time for you to get down to action. That
is, make the payment for the car in exchange
of the car and the papers of the car. The last
part i.e. papers of the car are as or more important
than the car and you must be careful about receiving
all the documents before making the payment
for the car. It could just be that you have
come across this excellent offer for an excellent
condition car and are not even paying too much.
Please don't get excited till you see all the
car papers and are certain that the car has
a clean record. There are many cars floating
in the market who have soiled records for being
used in illegal business, thefts and even been
involved in murder cases. Therefore, please
refer to this checklist before handing over
your hard-earned money. The list is as follows:
Transfer of Ownership
Documents
RTO
tax receipt
Nowadays the RTO tax has become a once in lifetime
tax, which should have been paid by the original
owner of the car. Please ensure that the seller
has paid this tax as the amount of the tax can
add up to double digits in thousands, which
you will have to ultimately, bear.
Registration
of the car
Please check the state of registration mentioned
in the papers. The state of registration mentioned
in the books should be the state in which you
plan to use the car as according to the State
rules, a driver is not allowed to drive a car
that does not belong to that state. If the state
of registration is different from the state
that you plan to use the car, please ensure
that the seller transfers the registration to
the state that you plan to use the car in. Transferring
the registration from one state to another is
a cumbersome process and may cost money (particularly
if entry is payable - normally applicable if
the new car is transferred within 18 months
to a different state). You must ensure that
the seller gives you papers of the car with
the registration of the vehicle in the correct
state.
Insurance
- This is the most important document for any
car. Please insist on the insurance papers,
as these papers are mandatory for any transfer
by the RTO. Premium for Insurance is paid on
a regular basis, therefore, please check the
due date. Also, ensure transfer of the insurance
papers to your name.
Road
Tax - This tax is also a recurring
one and even though the payable amount is a
paltry sum, a large number of car owners ignore
or forget about it. Please make it a point that
the seller gives you the papers for this tax,
or clears all payments before he sells the car
to you.
Invoice
Please ensure that you get the original invoice
of the car from the original owner. You can
know details like engine no., chassis no., date
of delivery, delivery dealer and whether the
car was financed or not.
Documents for
a Used Car that was bought on finance.
If you are planning to buy a used car that was
bought on finance by the seller, please remember
to collect the following documents in addition
to the above mentioned ones
NOC
(No Objection Certificate)
from the finance company: see the original copy
of this document and retain a photocopy. This
document ensures that the finance company has
no claim on the car anymore.
Form
35
You must keep a copy of this form, duly signed
by the financier.
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