Documents Needed For Buying A Used Car

DOCUMENTS NEEDED FOR BUYING A USED CAR

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INTRODUCTION

The era of 2020 has increased the demand and needs for car to a great extent. There are more and more records of car purchase added to the list every year with an upsurge in the number. The high demand in cars is making its prices rise up as well. A large part of this growth is credited to the used car market. On the contrary, the process of transferring the ownership of a used car is quite complicated.

The entire process requires only a limited set of specific documents but the second-hand car registration procedure is long-winded. Here, we explain the documents that need to be furnished for used car ownership transfer.

REGISTRATION CERTIFICATE (RC) The RC will have important information about the vehicle such as its engine number and chassis number. The buyer has to check the state in which the vehicle was initially registered. If the buyer will be moving it to another state, the registration will have to be done there.

INVOICE OF CAR PURCHASE The buyer should be given an invoice for the purchase of the vehicle. Although this will be made available when the used car is bought from a company or dealership, an individual seller may not be able to provide it. In such a scenario, the seller should provide a receipt to the buyer that will serve the purpose.

INSURANCE DOCUMENTS If the buyer intends to get the existing insurance policy transferred to his/her name, the process should be initiated well before the sale. While the insurance is being transferred, the buyer should check whether the premium was paid regularly, the claim history of the seller, and the expiry date of the policy

SERVICE BOOK his will give details on the servicing history of the car. The buyer will have a better idea of the condition of the vehicle through this. If the car has been serviced as per the schedule then it is more likely to be in better condition than a car that had infrequent services.

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