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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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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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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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