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Old 14th March 2011, 21:30   #1
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Default exchange offers at showrooms : Buying Dio selling Pulsar

I have booked a honda dio , However i own a 2005 Pulsar 150 dtsi ( 13000 kms run) which Im planning to sell . I asked for the exchange offer & they have evaluated for Rs 32000. He informed me to get the bike & the documents on the day of delivery so that i handover the bike & the difference payment of approx 18k and ride home the dio

Friends, Im sure lot of You would have done this transaction .Please let me know How safe it is to give all my documents & the bike to the showroom fellow & then collect the transfer certificate after a month . What care i have to take & documents so that im safe before i get the transfer documents
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Old 15th March 2011, 13:33   #2
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Default Re: exchange offers at showrooms : Buying Dio selling Pulsar

Quote:
Originally Posted by motor spirit View Post

Friends, Im sure lot of You would have done this transaction .Please let me know How safe it is to give all my documents & the bike to the showroom fellow & then collect the transfer certificate after a month . What care i have to take & documents so that im safe before i get the transfer documents
I had done the reverse transaction sold the dio in exchange offer for the pulsar 220 at khivraj showroom, Bangalore. I had just taken the photocopies of the RC book and insurance before handing them over to the agent. I had a bad experience with that chap. The transfer was not done even after 2 months and he stopped receiving my phone calls. The new owner made 2-3 traffic offences and I used to get the traffic fine challans by post at my home Finally I managed to track the agent, got the receipt and showed it at the police station to prove that I had indeed sold that vehicle.

A word of advice - make it clear to the agent about the transfer receipt timeline. Try finding out from other friends/relatives if they could refer some known contacts/agents they might have dealt with. When handing over the vehicle and documents, insist on some form of acknowledgement that they have received the vehicle from you.

Last edited by KarthikK : 15th March 2011 at 13:34. Reason: typo
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Old 15th March 2011, 19:38   #3
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Default Re: exchange offers at showrooms : Buying Dio selling Pulsar

I would suggest that you better sell your Pulsar directly to some buyer through an advertisement ( teambhp classifieds / olx.com /quickr.com). I found that these sites are accessed by many potential buyers and you will get a good response.Thats because
-the price offered during such exchanges are quite meagre compared to the real, prevailing market value.
-the problem of transfer of ownership is grave in these days of crimes of all kinds being committed on motor vehicles.Here are two drafts of transfer of ownership forms on which you need to get signature of the buyer. One can be very well absolved of the responsibility of crimes that may or may not be committed with the motor vehicle after the sale is effected.

TO WHOMSOEVER IT MAY CONCERN

Certified that we namely Shri/Smt_______________ , aged __________years s/o____________ resident of ____________________________(seller) and Shri______________________________________________ _______________ aged ________years, son of Shri______________________________________________ __ ____resident of________________________________________________ _(buyer) have entered into an agreement to sell the automobile (make,class and model year)_______________bearing registration no.________________ , engine no.___________and chassis no._______________in a mechanically fit, sound and satisfactory running condition to the buyer. The automobile has been checked by a competent mechanic and the buyer Shri________________________ is fully satisfied. No complaints of any kind whatsoever as far as the automobile (make) _______________bearing registration no. __________________ is concerned will be entertained hereinafter by the seller.
The sale is being effected from this ______day of __________ during the year_______ at _________A.M./P.M after which every action with the automobile (make)________________registration no. _______________________will solely be the liability and responsibility of the buyer Shri_______________ s/o ________________ r/o_____________________________who is also the new owner, hereinafter the quoted date and time from when the sale is effected. The seller Shri _____________________bears no liability and responsibility hereinafter from the date and time the sale is fully effected.
The buyer Shri___________________________________undertakes to effect the transfer of ownership viz. insurance, registration and taxation certificates in his own name within a reasonable time period of time, in any case not later than two weeks from the date of the sale.
The sale is being effected for a consideration of a sum of Rupees_________ which the buyer has paid the seller by Cash/Cheque/ Demand Draft/Bankers cheque bearing no.______________dated and drawn on (bank and branch).


signed with name and address signed with name and address


(BUYER) -----------------------------------------------------------------------------------------------(SELLER)

Dated:
Place:

Witnesses
(1) Signature Name and Address_________________________

(2) Signature Name and Address_________________________

This is a proforma for all of us who may sell his or her automobiles- Its very essential as there are cases when the new buyer does not transfer the vehicle in his or her name and in such cases all the liabilities rest with the old owner who was the seller.Thefts , criminal acts including involvement in accidents or acts of terrorism and everything else like evasion of taxes and insurance will all be the responsibility of the owner in whose name the vehicle is registered at the time of commitment of such acts.
Even if the motor vehicle is driven by someone without a licence, the Motor Vehicle Act provision penalizes the owner for lending his vehicle to someone without a licence.

Last edited by anjan_c2007 : 15th March 2011 at 19:42.
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