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Old 26th May 2017, 22:48   #481
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Default Re: ARTICLE: How to sell a *USED* car in India

Many thanks to team-BHP's How to sell used cars in India checklist. I recently sold my car and followed the instructions given in the checklist. Took printouts of all the forms and got signatures of the buyer. Prepared the delivery note and got the buyer's signature on that too. Originals of all the forms were given to the buyer for submission to RTO. However, I skipped the last instruction given in the team-BHP article (sending the duplicates of forms and documents to RTO) thinking that the buyer will anyway submit the original forms himself.

Unfortunately, in spite of my several reminders, the buyer did not submit the forms to RTO in time and he was involved in a minor accident while driving the car two weeks after taking possession. It seems that the car nudged a scooter while reversing and the buyer didn't stop the car to inquire. The lady driving the scooter was enraged by this and made an informal complaint to the police. As the car was still in my name, I got a call from the police inspector demanding explanation. I explained the whole story to him.

Luckily, the police officer was polite and asked me to visit the station with the buyer and the car next day. The issue was sorted out without FIR and I (who had no prior history of accidents involving third party or hit-and-runs) was spared from the legal hassles. The moral of the story is: follow each and every instructions given in the team-BHP article about selling the car.

Never think that this kind of things will not happen. In my case, fortunately the accident was not a major one (or worse a fatal one). Otherwise I could have landed myself in some serious trouble. Better submit all the required forms (original) to RTO ourself (personally, in presence of the buyer). Don't trust the buyer to do it in time.

Last edited by bblost : 26th May 2017 at 22:50. Reason: Broke up a single paragraph into multiple paragraphs to aid with readability. Thanks.
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Old 1st June 2017, 13:05   #482
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Default Re: ARTICLE: How to sell a *USED* car in India

Quote:
Originally Posted by GTO View Post

ē Have the RTO transfer forms and delivery note (all forms attached to this post) signed by both the parties (buyer and seller). Do NOT leave the buyer field blank, or sign on any other blank documents. If required, and time permitting, offer to visit the RTO together to complete the transfer.
I am considering selling my car to a Maruti True Value outlet, and it looks like they don't do the name transfer to themselves but instead wait for a buyer.

Would anybody be able to advise regarding what my liability would be with such a sale (till the eventual name transfer happens)? Would I be able to send the documents that I get from Truevalue to the RTO and be indemnified of any liability, or does that only work when a clear name transfer happens?
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Old 1st June 2017, 17:39   #483
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Default Re: ARTICLE: How to sell a *USED* car in India

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Originally Posted by chncar View Post
I am considering selling my car to a Maruti True Value outlet, and it looks like they don't do the name transfer to themselves but instead wait for a buyer.

Would anybody be able to advise regarding what my liability would be with such a sale (till the eventual name transfer happens)? Would I be able to send the documents that I get from Truevalue to the RTO and be indemnified of any liability, or does that only work when a clear name transfer happens?
The delivery note signed in the name of True Value, invoice for the new car showing old car's price adjusted against the new car cost etc should be sufficient to indemnify you. But you will definitely get a cop coming to your home if there is any question so keep the documents handy.
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Old 1st June 2017, 17:45   #484
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Default Re: ARTICLE: How to sell a *USED* car in India

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Originally Posted by hserus View Post
The delivery note signed in the name of True Value, invoice for the new car showing old car's price adjusted against the new car cost etc should be sufficient to indemnify you. But you will definitely get a cop coming to your home if there is any question so keep the documents handy.
Thanks for the advice. I am not exchanging the car, though coincidentally I bought a car from them 2 weeks ago (there was just not enough time for the exchange process) so it will be just a sale. The receipt for the payment should suffice in that case, right?
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Old 1st June 2017, 18:02   #485
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Default Re: ARTICLE: How to sell a *USED* car in India

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Thanks for the advice. I am not exchanging the car, though coincidentally I bought a car from them 2 weeks ago (there was just not enough time for the exchange process) so it will be just a sale. The receipt for the payment should suffice in that case, right?
Generally yes. As much documentation as you can show, such as credit of the sale amount to your account as well.

If you get a notice to appear in court then you can file through your lawyer for dismissal on the strength of these.
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Old 3rd June 2017, 17:11   #486
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Default Re: ARTICLE: How to sell a *USED* car in India

Hi All, A very basic query that I have been talking to couple of my friends and now am thoroughly confused. I am selling my vehicle registered in Pune to a friend who stays in Vasai. Though this is an Intra state transfer, I am confused about the NOC process whether we have to de-register the vehicle from Pune and re-register in Vasai which will cause the number to change. Is that the case? OR just an ownership transfer is sufficient while retaining the number?

My apologies if this is a repeat query. Did my best to go through couple of posts.
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Old 10th June 2017, 13:23   #487
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Default Re: ARTICLE: How to sell a *USED* car in India

So here a pickle I am in.

I am planning to sell a 2004 KA registered Santro Xing car. The car was bought on company lease through my employer.

Issue:
1. I never got the car transferred in my name. The car is still in Company's name.
2. The car was never de hypotecated from ORIX finance.
3. I hold all the original papers of the car including the RC etc. However, I am no longer with the same company.

Now I want to sell the car. But don't want to hassle myself by transferring the car first in my name. I am thinking of finding a buyer who will pay me directly and then get the car transferred on his name from company directly.

Do you see any issues?
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Old 10th June 2017, 17:29   #488
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Default Re: ARTICLE: How to sell a *USED* car in India

How will it be transferred without your company finances stamp and signature on the sale paperwork?
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Old 10th June 2017, 18:34   #489
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Quote:
Originally Posted by hserus View Post
How will it be transferred without your company finances stamp and signature on the sale paperwork?
Company will sign the papers in favour of new buyer as the car is already paid off
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Old 10th June 2017, 19:23   #490
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Default Re: ARTICLE: How to sell a *USED* car in India

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Originally Posted by carbookie View Post
Company will sign the papers in favour of new buyer as the car is already paid off
Once you get their sign and stamp on the sale paperwork there is no issue.

They will have to agree to that first and there may be some hypothecation with a finance company that needs to be cancelled from your rc book with a certificate from the financier showing the loan is closed
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Old 20th June 2017, 01:21   #491
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Default Re: ARTICLE: How to sell a *USED* car in India

I am looking to sell my used car registered in Pune. I have a couple of good offers in hand. Has anyone recently had any experience with the car selling process under Pune RTO? How long does it take for the buyer to get the RC / new registration to get effected from the date of submitting the sale forms to the RTO? I heard conflicting reports from weeks to months. I don't intend to transfer the insurance. But during this period, will the buyer keep using my insurance as he can't get a new one without the new RC. How do I end my insurance liability after the transfer?

Sorry if this has been answered before, but I just want to minimize all my liabilities after the vehicle is sold. Would appreciate any recent experiences or suggestions
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Old 21st June 2017, 18:54   #492
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Default Re: ARTICLE: How to sell a *USED* car in India

Does anyone know if one must have the PAN number of the buyer? If so, from when did this become a requirement?
Also, when did TCS start?
My ITO has seen it fit to look at a 2009 sale transaction, hence the questions.

Last edited by Sawyer : 21st June 2017 at 18:57.
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Old 26th July 2017, 07:23   #493
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Default Re: ARTICLE: How to sell a *USED* car in India

This is a very well articulated article. Thanks.

I sold my car to Maruti True Value and have the sale and delivery receipt with me. Apparently, it can take them up to 6 months to find a buyer. I am buying a new car from the dealer that facilitated this. Alto --> Ciaz

1. Do I need to wait for them to sell or can I go ahead and surrender the insurance policy today ?
2. As per the car dealer, if the insurance provider of both is Maruti, then NCB can be seamlessly applied. Is this true or do I need to ask for a NCB retention letter ?

Thanks in advance.
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Old 30th July 2017, 11:17   #494
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Default Re: ARTICLE: How to sell a *USED* car in India

Just like for Maruti cars(True Value), any other companies which accept ANY car for exchange with ANY brand refurbished car?
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Old 14th September 2017, 20:46   #495
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Default Re: ARTICLE: How to sell a *USED* car in India

I had purchased an Indica DLE on 26th December 2000, with the understanding the dealer shall register the car on the first working day of the RTO in January 2001. The car was purchased from A One Motors, Mathura Road. Since I had furnished my Gurgaon address as address proof, the number that was allotted was HR 26 M 6061.

Drove this car for exactly two years and approximately 90,000 kms. Did a lot of work related long distance drives in this car which included Neemrana (every week), Jaipur, Bikaner, Poanta Sahib and Lucknow. The car being non power steering was really uncomfortable to drive in the city, hence the decision to dispose it off and buy the DLS variant.

I started my car selling activity in Delhi, but discovered that the price I was getting was way too low. A friendly used car dealer suggested, since the car has a Gurgaon number, the best price could be obtained at Gurgaon. Those days I was too young to realize this, hence focused my attention to Gurgaon. Met a couple of dealers and stuck a deal with the one who offered the best price, which was substantially more that was Delhi had to offer. By this time, we had moved into our own house in Dwarka, New Delhi. The dealer had his office close to Gurgaon Railway Station. While I was negotiating to finalize the price, the dealer had a walk in customer who wanted to buy my car. He was insisting I tell him the price I am selling it for. I told him, see, I have committed myself to sell the car to the dealer (though till now only the price was agreed upon and no financial transaction done). The customer then started becoming a bit aggressive. I told the dealer to get involved. The dealer (looked like a person whom any of us would not like to mess around with) told the customer my selling price (genuine price) and told if the customer wanted the car, the commission was Rs 5000. The customer tried to negotiate, but the dealer did not relent. The customer then agreed to buy the car. The dealer must have been more than happy to make the quickest 5000 in his life.

I added a request that that the dealer arranges to drop me at Dwarka which he agreed. He told me he would send one of his men, in my car (or the car which was no more mine as I had received the cash for it) to drop me at Dwarka. He then told one of his assistants to hand over the cash to me. I counted the cash, all in order. Time of the day 8.30 PM.

People residing in the NCR region shall definitely agree with me that driving with 2.45L on the following points

1. Myself driving a car (having taken possession of the cash) with a stranger is not a wise option. A possibility the dealer sending his own men to follow the car and waylaid me. The cash could have been stolen by them and then the dealer claiming to hand over the car as he had paid for it.
2. The stranger in the car doing something unwarranted for.
3. The car meeting with an accident (big or small) and then the dealer haggling to reduce the price.

I told the dealer - your man shall drive the car. Cash shall be handed over to me at my residence. I shall sign all papers at my residence. He agreed to all this. Called my Dad and requested him to stay at home till I reach.

Today I sign in relief that I took this decision.

Reached home safely. Dad and myself counted the cash, I signed the documents, the dealer's representative left with the car. A week later, the dealer called me to come a collect a copy of the RC mentioning the new customer's name.
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