Anonymous
in Contracts Law
Asked August 06, 2017

Documents required for purschase of second hand good

  • 2 Answers
  • 32 Views

hello sir i have to ask you that i own a second hand car with just rc book xerox and other old insurance papers.but i also get written agreement about providing me original document soon.can i make any misake?

Answers 2

Firstly, you have to make sure that the seller informs the regional transport office (RTO) where the car was registered about the sale within 14 days of buying the vehicle.

 

 

In addition you need to have original copies of the following documents to ensure no problem arises in the future-

Registration certificate: It is the most important document and provides vital information about the car, including its chassis number and engine number. You need to check the state in which the car has been registered. If you plan to drive it to another state, you will have to get the registration done there. Since it's a time-consuming process, most people avoid it but it can lead to problems in case you meet with an accident. If the car is very old or was involved in a major accident, the engine may have been changed, so ensure that the Registration Certificate has the new number. Also, verify that the acronym DRC does not appear on the certificate since it translates into duplicate registration certificate. If it does, ask the seller for the reason. Insurance: Get the insurance transferred to your name, otherwise it will be tough to process a claim in case of an accident. You are relying on a Xerox version  documents of the original insurance policy, which will not allow you to claim benefits in the future. While transferring the policy, check if the premium has been paid regularly, the expiry date of the policy and if insurance has ever been claimed or if the insurance has expired or is due to be renewed soon, you could bargain with the seller for reducing the price of the vehicle.

 

Form 32 & 35:  You will need these documents if the previous owner had taken a loan to purchase the car. Before buying, ask the seller to give you a copy of the no-objection certificate from the finance company, which will clarify that the entire loan has been paid off. If you don't take care of this detail, you could land in a soup. For, after you take possession of the car and the registration certificate is transferred in your name, the lender may ask you as the new owner to pay the pending service loan

Service book: You should go through the service history of the vehicle, since it will reveal to you the condition of the car. A vehicle that has been serviced on time and through authorised centres will be in a better running condition than one that has been serviced infrequently.

 

Road tax receipt: This tax is a one-time payment, which should ideally be paid by the first owner of the car when he registers the vehicle. If it hasn't been paid, the penalty can run into lakhs of rupees over time, and you, as the new owner, will have to bear this financial burden. The tax varies among states and ranges from 2-18%, so you should ensure that the seller provides you a receipt for the tax paid.   

Car purchase invoice: A dealer or a company will provide you a printed bill along with the car. However, this may not be possible if you are purchasing the car from an individual. In such a case, you can demand a sale receipt from the seller- as is clearly evident in your case.  

Dual fuel certification for retro fitment: If the car has been modified to run on two types of fuels, ask the seller for the dual fuel certification, as well as an NOC from the RTO, which certifies that the vehicle can run on both fuels. The retro fitment is a replaceable piece in the vehicle and has a guarantee of five years from the time it is installed, so you must ask the seller for its sale receipt too.

 

Agree Comment 0 Agrees 13 days ago

Legal Advice

1. Yes you have commited serious mistake you must have prescribed transfer from duly signed by the previous registered owner.

 2. You must have possession receipt of a car so that you will not be responsible for previous incident/accident.

Agree Comment 0 Agrees 12 days ago

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