Team-BHP - View Single Post - ARTICLE: How to buy a *USED* Car in India

jash · 23rd September 2007, 06:59

I searched around the forum for steps/formalities to be completed while selling a car but could not find one. Also I don't have permission to create a new thread and that's why I am posting it in this thread. Mod's either create a new thread for this request or point me to the right thread and delete this post.

In my case I enquired three dealers (2 Honda & 1 Ford) on exhange of my OHC 2003 & looks like each one of them have tie up with some used car dealers and they are going to provide valuation. More than the pricing aspect I am not educated about the formalities to be completed while selling a car to avoid any hassles at later point. Are there any legal or proper forms need to be siged by the parties..?

Based on my reading on this forum, I understand following needs to be done,

1. Get the sign on a delivery receipt (is there any particular format or is it upto the individuals to decide the content)
2. Inform the local RTO office about the deal (any particular form?)
3. Transfer the RC to the new party
4 Inform the insurance company about the sale & also ask for the refund of premium amount for the remaining period
5. Ask for NCB certificate, if I am going with different insurance company

Anything else to be taken care ?

23rd September 2007, 06:59	#25 (permalink)
jash Newbie Join Date: Oct 2006 Location: Chennai Posts: 19	While selling a car I searched around the forum for steps/formalities to be completed while selling a car but could not find one. Also I don't have permission to create a new thread and that's why I am posting it in this thread. Mod's either create a new thread for this request or point me to the right thread and delete this post. In my case I enquired three dealers (2 Honda & 1 Ford) on exhange of my OHC 2003 & looks like each one of them have tie up with some used car dealers and they are going to provide valuation. More than the pricing aspect I am not educated about the formalities to be completed while selling a car to avoid any hassles at later point. Are there any legal or proper forms need to be siged by the parties..? Based on my reading on this forum, I understand following needs to be done, 1. Get the sign on a delivery receipt (is there any particular format or is it upto the individuals to decide the content) 2. Inform the local RTO office about the deal (any particular form?) 3. Transfer the RC to the new party 4 Inform the insurance company about the sale & also ask for the refund of premium amount for the remaining period 5. Ask for NCB certificate, if I am going with different insurance company Anything else to be taken care ?