There will come a point when you will have to let go of your car and sell it to someone else. But unlike selling household items, when you sell a car, things are a little more complicated. There are a number of things to keep in mind when selling your car, if you don’t want to get into trouble with the law. Car paint protection is designed for cars, trucks, motor homes, over-the-road trucks, motorcycles and any painted automotive surface subject to damage caused by normal use and daily driving Here are few things to keep in mind when selling your car:
Documentation
Proper documentation is the most important thing while selling a car. When you will need to retain the following forms: Copies of Form 28 (Application of NOC), Form 29 (Transfer of vehicle ownership), and Form 30 (report of transfer of ownership). As a seller, you will also need to retain the original delivery note, a photocopy of a government issued ID of the buyer, and photocopies of the RC and insurance papers. Make sure that all the forms are completely filled, with the buyer signing on all forms requiring his/her signature.
It is necessary to have these documents to prove that you have handed over the car to the buyer and the responsibility for it now rests with the buyer. If the car happens to be involved in some illegal activity, these documents will absolve you from any legal complications.
Don’t part with the car without full payment
Many people have been duped and led to sell their car without receiving full cash or sometimes, any cash at all. Make sure that you do not hand over your car till you have received full cash in hand or in your bank. If you are handed a Cheque or a DD as a payment, cash them before you hand over the car. The same logic applies to the transfer papers. Signing transfer papers without receiving cash will allow the buyer to relieve you of your car. As you have already signed the papers, there is nothing you can do about it except file a case of cheating against the buyer and wait for the law to take hold of the culprits.
Within 2 weeks after you sell your car, write a letter and inform the RTO where it was originally registered. Along with the letter, attach the copies of the following documents:
- Form 28 (Application of NOC)
- Form 29 (Transfer of vehicle ownership)
- Form 30 (Report of transfer of ownership)
The letter and documents should be sent by registered post, and the acknowledgement should be retained. This will ensure that the RTO is aware that you no longer own the car and you won’t get into any legal hassles involving the car after the sale.
Save Money with the No Claim Bonus
The responsibility of retaining a photocopy of your previous car insurance policy and claiming the “No Claim Bonus”, when purchasing the next car, is on you. To avail NCB, you will also need a copy of the RC with the new owner’s name, as proof that the car has been transferred, and also, a delivery note. This vital detail is overlooked by a lot of people and they end up losing a good chunk of money when buying insurance for their new car.
If you keep the aforementioned points in mind, you will save yourself from a lot of legal hassles that come when you sell a car.
The author is an auto expert and works as a columnist with a leading auto magazine. The author’s columns are respected for their clarity and lucidness . The author also regularly writes blogs pertaining to the auto industry. This will advice for consumers to buy or sell a car. Get in touch with auto mechanic.