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Old 22nd October 2015, 15:49   #1
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Default Buying an uninsured vehicle

Hello.

I've locked on a good deal for this sweet third hand RX 100. The owner has a RC in his name with extended 5 years (till 2019). He also has a PUC. But his insurance expired earlier this month and since he had to sell it, he didn't get it renewed.

My query is thus. Is it safe to buy a bike without insurance and get one in my name once the transfer of ownership is done? I need to be sure that the bike has clean records. The owner says that if the bike is shady, the application for the transfer of ownership won't get clearing at the RTO. So the papers getting transferred from his name to mine in itself is a sign of the bike having clean records. He says that a RC smart card (with extended fitness) is the main document.

I checked the details of the bike on - http://164.100.44.112/vahansamanvay/Internetquery.aspx - and the records showed it's not stolen or anything. Is this enough? Or is there any way I can check if the bike has been involved in any accident or something? Should I be taking so much pain or it's not such a big deal?
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Old 22nd October 2015, 16:47   #2
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Default re: Buying an uninsured vehicle

Quote:
Originally Posted by rbppt View Post
Hello.

I've locked on a good deal for this sweet third hand RX 100. The owner has a RC in his name with extended 5 years (till 2019). He also has a PUC. But his insurance expired earlier this month and since he had to sell it, he didn't get it renewed.

My query is thus. Is it safe to buy a bike without insurance and get one in my name once the transfer of ownership is done? I need to be sure that the bike has clean records. The owner says that if the bike is shady, the application for the transfer of ownership won't get clearing at the RTO. So the papers getting transferred from his name to mine in itself is a sign of the bike having clean records. He says that a RC smart card (with extended fitness) is the main document.

I checked the details of the bike on - http://164.100.44.112/vahansamanvay/Internetquery.aspx - and the records showed it's not stolen or anything. Is this enough? Or is there any way I can check if the bike has been involved in any accident or something? Should I be taking so much pain or it's not such a big deal?

its not a big deal, for change of ownership they might ask insurance copy, if so you can take it in the old owners name and then once the bike is transferred to your name it can be transferred to your name as well.

Always remember the insurance is in the name of the vehicle and not in the name of the owner, so even if the registered owner in the RC is you the insurance with the previous owner's name is valid.

Pramod
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Old 22nd October 2015, 17:06   #3
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Default re: Buying an uninsured vehicle

Okay. I suggested the same to the owner. But he says it's quite unnecessary. He suggested we get the transfer of ownership done (according to him, in transfer of ownership, it doesn't matter whether the vehicle is insured or not) and he'll help me get an insurance after the RTO rounds are done.

Can I get the transfer done onto my name without the bike being insured and later get the bike insured? Can that mean I could be purchasing a bike with criminal records in it's history or does the RTO verify all that before allowing the buyer to sell the bike?

Last edited by rbppt : 22nd October 2015 at 17:10.
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Old 22nd October 2015, 17:14   #4
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Default re: Buying an uninsured vehicle

You will need insurance to change ownership, take a third party in current owners name and do the transfer. Later on transfer the same to your name after the registration name change.

Don't use the vehicle without a valid insurance, so do it at the earliest.
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Old 22nd October 2015, 17:15   #5
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Default re: Buying an uninsured vehicle

PUC , original rc and insurance are mandatory documents along with RTO forms for transfer of ownership .

Last edited by Rovergen : 22nd October 2015 at 17:15. Reason: spell
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Old 22nd October 2015, 17:22   #6
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Default re: Buying an uninsured vehicle

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You will need insurance to change ownership, take a third party in current owners name and do the transfer. Later on transfer the same to your name after the registration name change.
If the owner is not ready to take the insurance in his name (his earlier insurance ran out on the 4th of October) -

1. Should I be worried that the vehicle might have a bad history sometime between the 4th October and today?
2. And if it does have a bad history, won't the RTO check the records before transferring the ownership from owner 1 to owner 2?
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Old 22nd October 2015, 17:30   #7
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Default re: Buying an uninsured vehicle

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Originally Posted by rbppt View Post
1. Should I be worried that the vehicle might have a bad history sometime between the 4th October and today?
2. And if it does have a bad history, won't the RTO check the records before transferring the ownership from owner 1 to owner 2?
1- No, till the ownership is transferred in your name it in NOT your liability.

2- Our systems are not that water tight that an incident on road reaches RTO records, unless it is a major one and needed RTO inspection before release from police custody.

Again the point is not that, 1- for 1000 odd bucks it is NOT worth riding a bike without insurnace, even if it is just to transport it from current owners house to yours.

2- RTO needs a valid insurance for this ownership change transaction.

Again you can take the insurance, you don't need current owners help for that.
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Old 22nd October 2015, 17:51   #8
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Default re: Buying an uninsured vehicle

But the owner seems to know someone within the RTO and says the transfers can be done without the insurance. If somehow it's possible to do this, would it be a good idea to buy the bike? Would I get into trouble buying an uninsured vehicle? The owner seems genuine and legit.
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Old 22nd October 2015, 18:54   #9
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Default re: Buying an uninsured vehicle

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Originally Posted by rbppt View Post
But the owner seems to know someone within the RTO and says the transfers can be done without the insurance. If somehow it's possible to do this, would it be a good idea to buy the bike? Would I get into trouble buying an uninsured vehicle? The owner seems genuine and legit.
Why do you depend on the current owner for Insurance? You can get it done on his name and then transfer the ownership.
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Old 23rd October 2015, 15:58   #10
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Default Re: Buying an uninsured vehicle

Nothing new. You'll often see ads for cars with expired insurance. The right steps would be:

1. Get insurance coverage (since the bike is over 15 years old, you'll only get 3rd party).

2. Transfer the bike to your name.

3. Transfer the insurance.

For comprehensive insurance, the insurance company insists on physical verification of the vehicle before reinstating an expired policy. Not sure if that's the case with basic third party coverage too.
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Old 23rd October 2015, 20:52   #11
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Default Re: Buying an uninsured vehicle

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Originally Posted by GTO View Post
For comprehensive insurance, the insurance company insists on physical verification of the vehicle before reinstating an expired policy. Not sure if that's the case with basic third party coverage too.
From my experience New India Assurance & United India insist physical verification where as other private insurance companies provide 3rd party insurance without physical verification.
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