HomeHow ToDocuments and Forms Needed to Sell or Buy an Used Vehicle in India
August 22, 2016
Documents and Forms Needed to Sell or Buy an Used Vehicle in India
Do you think, buying a CAR in second hand or Say a Used CAR purchase is waste of time and money? I bet you are wrong. Well, Please go ahead and know the hidden facts behind the Second Hand CAR market in the below article.
In this article, I am planning to cover the list of documents that you need to get duly signed from the Owner of the Buying Vehicle that ensures your seamless ownership transfer in Regional Transport Office (RTO Office).
Document 1 : Insurance Transfer Form
Insurance Coverage for a 4 wheeler is more critical than anything else.
As you are planning to buy a second hand vehicle, It should already have an Insurance cover protecting the CAR and Third Party Cover and …etc. Here, please make sure, the current owner have the Insurance Policy up to date, failing which will make you pay the premium with penalty.
The copy of the Insurance Transfer Form that facilitates the transfer of Insurance to your name is shown below.
Original Copy shall be held by the Buyer.
Photo copy can be given to the Seller.
Document 2 : Sale Receipt Format
This is more critical than Insurance as it proves that you are the owner of the Car. Of-course, what is the point of getting Insurance Coverage for a Car that you do not own .?
Do not forget to attach a Revenue Stamp before the Seller Signs the Sale Receipt as this implies some legal calls.
Original document shall be held by the Buyer.
Photo copy can be given to the Seller.
Document 3 : Form 29 (3 Copies)
The biggest step after owing a CAR is to transfer the CAR in your name.
I have seen a few who never bothers this step and disaster hit them later.
What’s the need of Transferring Ownership ?
Vehicle ownership Transfer provides Legal Authority :
Without transferring the ownership of the vehicle in your name, You fail to entitle any rights over that vehicle.
A few claim that without ownership transfer, if any accident happened, the seller will be caught as the vehicle will be on his name only. Come on dude .., This is no way true. Because, the owner will keep a original Vehicle Handover receipt with him whereby you will need to sign. This document otherwise entitles the actual transfer of ownership in court of law. So, there is no loop hole per say. Also this idea of purposefully keeping the Seller Name in the R.C book is nothing but a useless myth.
Vehicle ownership Transfer helps with Insurance Claims :
In case of any accident claims or any advert situations that legally covers you to claim insurance will fetch you no money as the Insurance will be on the name of the Seller as you have not yet transferred the ownership title to your name.
So please change the title transferred to your name once you bought the vehicle.
Following is the Form – 29 of Indian Motor Vehicle Act that is essential for transfer of ownership of your four wheeler.
Document 4 : Form 30 (2 Copies)
This is another must have document towards the Name Change in the R.C book (Registration Certificate cum Booklet).
It has 2 pages and to be duly signed by the Seller.
Form-30 Page 1:
Form-30 Page 2:
Document 5 : Pollution Certificate
This does not need any sign or anything from the Seller. But you need to take custody of the latest Pollution Certificate of the vehicle, if the seller has one.
What to do if there is no pollution certificate ?
Done worry, you can get this certificate in many of the Petrol Bunks / Fuel Stations now a days for just 100 Rupees or so. Cool isn’t it?
Finally my 2nd Hand Car is here :
I bought almost 2.5 years back (Top end variant, Petrol, Single owner, 3.5 yrs old, 40K on odometer, Lady driven, Complete service history, accepted for health check, delivered With full tank of fuel @ 3.15 Lake. Photo attached below). It was a great deal indeed.
Well this article have consolidated almost all the documents that any RTO demands for ownership transfer. Also this list of documents are necessary for any Legal or Insurance claims of your Car.
After all, What’s the point, If you are not the Legal Owner of your beloved Car .?
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