SELLING SECOND HAND VEHICLES
What precautions are advised for me at the time of selling my old vehicle?. It appears that name change with RTO takes a longer time and in the meanwhile should there be a misuse of the vehicle. What safeguards I can obtain from the buyer?. I shall be grateful to get some advice on this. more
After sale & delivery of the old vehicle, please write a letter to your police station by registered post with A/D, with copy to RTO, that on date you have sold the vehicle to so & so with name & address with copy of form 29/30. This will help you any eventuality of crimes, accident, irregularity & insurance etc. committed by the new owner and feel relaxed in all future days. more
1. Prepare a delivery challan clearly mentioning the date, day, time and place of the physical handover of the vehicle with witnesses. 2. Enter into an Indemnity agreement with the buyer specifying that he will indemnify you in the event of any liability arising from the use of the vehicle which you have sold to him and which is not yet endorsed in the RTO records.3. Collect the Adhaar card, Voter ID PAn and other details of the transferee. more
Dear Sir, First of all you prepare a sheet Titled: Notice of Change of Ownership of a Motor Vehicle.
Then Clearly Mention all the details of seller first, Then the details of vehicle which are clearly mentioned on RC and in last Clearly mention all the details of Buyer, along with the signatures of both buyer and seller at the bottom of the page. Now it can be very easily you can check online whether you have any challan pending on that particular said vehicle if had you clear it first and if not then take a print of that and attach with this agreement. Prepare this in duplicate and handover a copy to buyer. And, most important thing you must collect the self attested documents from buyer i.e. Adhaar, Passport ID or Voter ID, Pan, current passport size photo and a cancelled cheque of his any account.
After all these formalities, Kindly handover the Original RC, Pollution and Insurance to buyer along with the photocopy of Car's Invoice. Original Invoice is not necessary to give him and actually you may need later if required. Thanks... more
Please follow the P.K.Bansal directions so you will be freed from all sorts of problems. more
Make an agreement with the buyer on appropriate stamp paper. mention the date and time of handing over of vehicle with clear phrase that all the responsibilities regarding vehicle before this time are yours and after this time are of purchase. IN the set of transfer forms is one form which should be filled and sent to RTO from your sdie to intimate that you have sold this vehicle to Buyer. Sent this form by Registered A. D. more