• Steps Involved In Car Ownership Transfer

     4.5 / 5.0   by 1937 users
    Used this product? Write a review >>

    Policy Coverage

    Customer Service

    Claim Experience

    Responsiveness

    Cashless Garages

    In India, the used car market is undergoing a definitive boom. Apart from the price tag being lower than brand new cars, used cars also have an upper hand with respect to value for money. Product quality in the pre-owned car market is better than ever before. So a good find can save you lots of money in the long run as well.

    The rate of depreciation in cars is the fastest during the first 5 years of ownership. So, another advantage of opting for a second-hand car is the fact that the depreciation that these cars undergo will be at a slower pace. The used car market these days have a wide variety of models and variants to showcase, so you will never be deprived of the luxury of choice. But the icing on the cake is the fact that most banks offer used car loans at irresistible interest rates. The premium for used car insurance is also quite reasonable.

    Many car owners have trouble understanding the process of used car ownership transfer. They tend to outsource the work to be done at the Regional Transport Office (RTO) to car ownership transfer agents who charge a huge amount for their involvement in the case. However, with a little bit of research and understanding, car ownership can easily be transferred between the seller and the buyer without the involvement of a third party. Here is a rundown on how to transfer the ownership of a car.

    Car Ownership Transfer

    Transfer Of Ownership Of Vehicle Within State - Step-By-Step Guide

    The steps involved in the car ownership transfer process within state is as detailed below:

    1. Sale agreement from a notary
    2. The transaction between the buyer and the seller will have to be recorded in a sale agreement from a notary. Payment details (whether it is through demand draft (DD) or cheque) will also have to be mentioned. The condition of the vehicle, the status of the RC and its hand over, and details of insurance will also be recorded here. The sale agreement defines the payment made for the vehicle ownership transfer and the ownership status from the time the keys are handed over to the buyer.

      Once the seller receives the payment, he/she should sign two copies of Form 29 and a copy of Form 30 that will be submitted by the buyer to the Regional Transport Office (RTO). These forms will indicate the seller’s consent on transfer of ownership.

      If the car is under a loan, then Form 35 will have to be signed along with a No Objection Certificate from the lending bank. The seller should also hand over the following documents to the buyer, apart from the keys of the vehicle:

      • Original registration certificate (RC)
      • Valid insurance
      • Request letter for clearance certificate (CC)
      • Copy of PUC certificate
      • RTO tax-related documents
      • Copy of the delivery note
      • The vehicle owner’s manual
      • Warranty papers
      • History of servicing
      • A copy of the car’s original invoice

      The seller should remember to keep a copy of the following documents for future reference:

      • The sale agreement
      • Address proof of the buyer and his/her ID
      • DD copy or cheque
      • Insurance and RC
      • Form 29
      • Form 28, if relevant
      • Form 30
      • RTO tax papers of the car

      The original invoice of the car should be retained by the seller.

      Points to note for the seller:

      • The seller should wait for the demand draft or cheque to be cleared before he/she hands over the vehicle and the documents to the buyer.
      • All fields in the delivery note and the forms issued by the RTO should either be updated with the correct information or “N.A.” if not applicable. No fields should be left blank on the forms.
      • The forms should also have the signatures of the seller and the buyer. It would be ideal for both parties to visit the RTO for the transfer process. In case this is not possible, all relevant documents should be handed over to the buyer.
      • After the car is sold, inform the insurance company of the transfer. This is particularly relevant if the insurance of the vehicle is being transferred as well.
      • Remember to request the buyer to send you a copy of the updated RC.
    3. Buyer to apply for clearance certificate (CC) from the old Regional Transport Office
    4. If the car is not under a loan, the following documents need to be produced at the RTO:

      • Request letter for the clearance certificate
      • Original registration certificate (RC)
      • A copy of the insurance of the vehicle that is valid
      • A copy of the emission certificate
      • A self-addressed envelope with stamps worth Rs.30 affixed.

      The buyer should get the aforementioned documents verified by the clerk at the RTO and get it attested by the office superintendent. Then he/she should submit the documents and get an acknowledgement form from the RTO. The CC application process does not involve any fees. After the application is submitted, the CC and the modified RC book will be mailed to the residential address of the buyer within 30 days.

      If the car is financed through a loan, this step will also include a hypothecation cancellation process.

    5. Buyer to apply for ownership transfer at the new Regional Transport Office
    6. Provided that the vehicle is not under a loan, the following documents will have to be furnished at the new RTO:

      • 2 copies of Form 29, the notice of the ownership transfer
      • Form 30, the report of the ownership transfer
      • Original registration certificate
      • Copy of the valid car insurance
      • Copy of the emission certificate
      • Copy of the address proof of the buyer
      • Copy of the buyer’s PAN card
      • Original CC
      • 1 passport sized photograph of the buyer
      • Self-addressed envelope affixed with stamps worth Rs.30

      These documents should be verified by the superintendent at the RTO. The buyer may also have to sign additional documents, as requested by the superintendent.

      Car ownership transfer cost - The transferee will have to pay the required fees for ownership transfer. Please note that there will be a late fee charged if the ownership transfer application is not submitted within 14 days of sale of the vehicle.

      Once the fee is paid, two challans will be provided to the buyer. He/she should attach both the challans with the documents and submit them to the clerk at the RTO. An acknowledgement will be provided by the clerk and the RC book will be mailed to the buyer within 30 days.

      There may be additional steps involved in the above process and Forms 32 and 35 will need to be furnished if the car was under a loan.

    Points to note for the buyer:

    1. The registration number code of the vehicle will not accurately represent the original RTO. You should look at the back of the RC in the lower right corner where the RTO will be mentioned.
    2. It is possible to register new vehicles in any RTO. However, for ownership transfers, the process is slightly different. The transfer of ownership application should be submitted to the RTO pertaining to the residential area of the buyer.
    3. Form 28, i.e., No Objection Certificate (NOC), is not required when the transfer of ownership is within the state. Instead, the CC from the seller is required. 3 originals of Form 28 is required when the ownership transfer is between states.
    4. RTOs may be closed on the second Saturday of every month.
    5. The cash counters at RTOs may close at noon on Saturdays.
    6. It is important to take copies of all documents and carry the originals as well. Arranging the documents as needed will help in saving a lot of time.
    7. You may carry some stationary such as pens, whitener, glue, stapler, etc. for last minute updates/corrections.

    Car ownership transfer can be a hassle-free process if you follow the necessary steps. Irrespective of whether you are the buyer or the seller, you should ensure that you have copies of the relevant documents for future reference.

    Car Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • ICICI Lombard Car Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The service of Icici Lambard car insurance service is awesome compared to others in the market. They collected all my documents directly which was an easy process. The payments are through online. It was a good experience with Icici Lambard car insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 24, 2018
    • HDFC Ergo Car Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Hdfc Ergo car insurance service is good. The online portal is easy for navigation with lot of good options. They never asked for any documents as it was an paperless approval. The payments are through online. It was an good experience with Hdfc Ergo car insurance service.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 24, 2018
    • Tata AIG Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with TATA AIG from last 3 months and it is a good insurance policy to use. They cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance and i pay a premium of Rs 12000 for this insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2018
    • ICICI Lombard Car Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I directly purchased my car insurance service from the showroom through Icici. The payments are through cheques. They use to intimate regularly. The payments are through cheques. The staffs where friendly during the process. It was an good experience with Icici car insurance service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 23, 2018
    • ICICI Lombard Car Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have my car insured with ICICI lombard from last 7 years, my claim experience was not up to the mark with this car insurance policy as they covered only bumper to bumper damage. I got a coverage value of Rs 2000 for this claim experience. I pay a premium of Rs 6000 for this insurance.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 20, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with HDFC ERGO from last 2 years, i am happy with the coverage value of this car insurance. I do not have claim experience so far with this car insurance. They cover bumper to bumper as well as third party damages. I pay a premium of Rs 17000 for this insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
    • ICICI Lombard Car Insurance
      "ICICI LOMBARD Car Insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance with ICICI lombard and the premium is 28000. They provide bumber to bumber, road assistance, cashless garages, zero depression, accidental coverage to the first party and the third party. While comparing its a good policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 20, 2018
    • National Insurance Car Insurance
      "Good policy for car"
      0.5 3.0/5 "Satisfactory"
      I have taken a car insurance from National insurance and the premium amount is 9000. There was no bumber to bumber included with this policy as it was an old car. They include accidental insurance, and third party coverage. I have to renew the policy every year.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 20, 2018
    • ICICI Lombard Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my car insured with ICICI lombard from last 1 year, i am happy with the coverage value of this insurance policy. I have not claimed anything so far with this insurance. I am not aware of the premium amount of this car insurance. They cover only bumper to bumper damages for this insurance.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 19, 2018
    • HDFC Ergo Car Insurance
      "Car insurance with HDFC ERGO"
      0.5 5.0/5 "Blown Away!"
      I have taken the car insurance with HDFC Ergo and the yearly premium which i am paying is 20000. The provide bumber to bumber cashless garage, road assistance and accidental insurance as well. And yearly i have to renew the policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 19, 2018
    • Shriram Car Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      Recently I have renewed the car insurance from the SHRIRAM GENERAL INSURANCE company. The customer support service and the response is good with the Shriram because they give reminders to renew the policy before the due date. I have paid Rs,12,000 to renew the car insurance from the SHRIRAM GENERAL INSURANCE company.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 19, 2018
    • Oriental Insurance Car Insurance
      "Good car policy"
      0.5 5.0/5 "Blown Away!"
      I have taken a car insurance with ORIENTAL INSURANCE and the premium which i am paying is 14000 which i have to renew yearly.The benefits include bumber to bumber, road assistance, cashless and accidental insurance as well. I don't have any claim experience but its a good policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Apr 18, 2018
    • Iffco Tokio Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have my car insured with IFFCO TOKYO from more than 1 year, i had a very good claim experience and they covered 80-90% of the billed amount. This policy covers only bumper to bumper and third party damages. A premium of Rs 30000 has to be paid for this insurance.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 17, 2018
    • review Car Insurance
      "Very good policy to use"
      0.5 5.0/5 "Blown Away!"
      Got the car insurance policy from the Bharathi axis general insurance company around 5 months ago. I have paid around Rs,40,000 to get this policy this year, because this policy covers bumper to bumper benefits and the policy coverage is good with this policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 17, 2018
    • National Insurance Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I am having a car insurance with National insurance from last 10 years, i have a very good coverage value for this car insurance. I do not have any claim experience so far with this car insurance. A premium of Rs 2500-3000 has to be paid for this car insurance.
      Was this review helpful? 0
      , faridabad
      Reviewed on Apr 17, 2018
    • HDFC Ergo Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with HDFC ERGO from last 3 years, i am happy with the coverage valye of this policy, they cover bumper to bumper as well as third party damages. I have not claimed anything so far with this insurance and the premium amount of this insurance is Rs 13000-14000.
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 16, 2018
    • Reliance General Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a car insurance with Reliance from last 2 years, i do not have any claim experience so far with this car insurance. I pay an insurance premium of Rs 30000 every year. I am happy with the coverage of this insurance and they cover bumper to bumper as well as third party.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 14, 2018
    • Liberty Videocon Car Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I was having a car insurance with Liberty videocon from last 1 year, i do not have any claim experience with this insurance policy and i find the coverage value is good when compared to other insurances. I pay a premium of Rs 12000-15000 for this insurance policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 12, 2018
    • Iffco Tokio Car Insurance
      "best experience"
      0.5 5.0/5 "Blown Away!"
      I had taken a car insurance policy from the Top most private sector insurance company IFFCO TOKIO GENERAL INSURANCE. The important benefit is the claim procedure is very easy and simple. My idv value for my vehicle is Rs. 11k.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 12, 2018
    • Chola Ms Car Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have recently insured my car with Cholamandalam insurance, i do not have any claim experience so far with this insurance and i have a coverage of bumper to bumper damages. A premium of Rs 8000 has to be paid every year for this car insurance.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 12, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.