Buying a second hand car is different from buying a new one as there are lots of things that one needs to look upon. So, if you are going to purchase one too, here is the checklist to simplify the matters and make the transaction into a hassle-free affair.
Transfer of the Registration certificate
For this, you need to submit a form issued by the RTO dully signed by you and the previous owner. After submission, you receive a receipt within 15 days and the same is followed by an RC copy in about 40 days.
Transfer of Insurance in your name
This is again one of the most important as you need to get the insurance papers by your name too. With the Registration Certificate, it is important to get the insurance papers by your name as well because if not done it becomes nullified later and ultimately is of no use.
Transfer of No Claim Bonus
The No Claim Bonus cannot be transferred same as the insurance papers to the second-hand owner. The new owner just has to pay the balance amount of the NCB till its policy period ends. However, the NCB can be used by the previous owner for the purchase of a new vehicle also.
Inspect the car papers thoroughly
Checking each and every paper before buying a second-hand car is very important. You should check the registration papers, pollution papers and no pre-existing pending loans on the car too.
Get it inspected by a mechanic
To know the real condition of the car get it examoned by a trust worthy mechanic and get away with the possibility of being cheated. Ask the meahanic to thougougly inspect the car.
Tip: Ensure that you carry out a thorough check when you go to take the delivery of your vehicle as well
Car maintenance records
Having detailed records of repairs and maintenance performed on the car can help you negotiate a better price.