The used-car market in India is growing rapidly. Even luxury
carmakers are looking into India’s pre-owned car market to target customers
like you, and considering the attractive offers offered on used cars, it’s only
understandable if you too would like to weigh in.
However, since this market is still in its nascent stages,
it’s important you tread carefully. There may be sellers who function without
proper licenses or don’t provide sufficient documentation, which can be
problematic in the future.
Here is a checklist you can keep handy to ensure that you
have cemented your ownership of a used car:
1. Do you have the originals?
Unlike a new car, buying a pre-owned car involves transfer of
ownership, which is why it’s important you have the originals to support your
claim rather than just the photocopies.
This also includes documents which only a new-car owner gets.
Firstly, the Road Tax Receipt ensures there are no pending dues so you don’t
end up paying penalties. Secondly, the duel fuel certificate is for cars that
have been modified such that they can run on two types of fuel. You must also
ensure you get the No Objection Certificate (NOC) from the regional transport
office (RTO).
2. Do you have the payment receipts?
Similarly, ask for the receipts of any payments you have
made. This receipt should contain the dealer’s complete address and their
contact details. This is, after all, the proof of your purchase, so make sure
it’s the original invoice, and not a copy.
3. Do you have the registration certificate?
In India, it is not enough to merely purchase a car, you have
to get it registered too. This is the most important document to have while
you’re on the road. It has all the details of your car—its registration number,
its chassis number and even its engine number. These are the various ways your
particular vehicle can be identified. However, don’t just blindly copy the
details. It may have happened that the engine was replaced in the past after
the car’s initial registration. In this case, you have to ensure the
certificate reflects this development. Keep in mind ‘DRC’ on a certificate
stands for ‘Duplicate Registration Certificate’, which suggests it isn’t the
original.
For those who plan to purchase a used car from another
state/region in the country, make sure the registration belongs to the state/region
you are driving in. If you are taking the car from one state to another, you
may have to pay additional road tax and Octroi charges in your state. This is
usually calculated as a percentage of the car value. This percentage differs
for each region’s RTO.
4. Do you have the pollution certificate?
This is a simple and necessary certificate that serves as
proof that you are sticking to the government’s guidelines on pollution
control. This ensures that you are staying within the purview of the law.
5. Do you have your insurance papers?
The good thing about buying a used car is that you simply
have to change the insurance policy ownership, and not necessarily buy a new
one. While doing so, do enquire about the history of the insurance —has any
insurance money been claimed before? When does it expire? Are there any pending
premiums? Also, if you have to opt for a new insurance policy in case of its
expiry, you could even try bargaining to reduce your premiums.
6. Do you have all the loan-related documents?
This is not just related to a loan you may or may not have
taken, but is also applicable to any loans the previous owner of the car had
availed. For this purpose, you need Form 32 and Form 35. Moreover, as mentioned
above, you also need to obtain an NOC from the previous lender. This will
ensure all dues have been paid, thereby leaving you in the clear.
Buying any car, not just a used or second hand car, is a big
decision that involves lot of thought and research. However, buying a used car
requires even more attention. Make sure you tick all these points off the list
while buying your very own pre-owned car
insurance. Keep the papers handy and drive safe!
[Source: https://www.tomorrowmakers.com/articles/car-insurance/things-to-keep-in-mind-when-buying-a-used-car]
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