While buying a used two-wheeler, a buyer has to keep certain things in mind like the condition of the vehicle, authenticity of the seller, etc. One of the most important part is the paperwork involved in the process, which finalizes the purchase.
The paperwork requires the following -
If the RC book has a bank seal stamped on it which denotes bank loan, the purchaser should get form 35 stamped, signed and a NOC letter from the bank mentioning the clearance of loans. The RTO charges a fee to cancel the loan entry.
He can apply for a two wheeler insurance policy with any bank which provides the same. In case of buying a new policy he has to check his own requirements and then take up something which is beneficial.
The seller should also provide the buyer with the road tax card which has the tax payment information which has to be submitted to the RTO.
Pollution under Control (PUC) Certificate is mandatory for vehicles which are older than six months. If the previous owner does not have the same, the new one has to get the same once he gets the possession.
The buyer also needs to provide the address proof and two passport size photographs.
The buyer should take a sales receipt from the vendor to avoid any complications.
All the above mentioned documents are to be submitted to the RTO to get the ownership of the two-wheeler being purchased.
Whenever you dispose of your old two-wheeler to make way for a better and newer mode of commute, there are certain things you should be careful about. Transferring the ownership of your old vehicle also involves correctly transferring all the associated documents to the new owner. The two wheeler ownership transfer process primarily involves transfer of ownership and transfer of motor insurance policy while notifying the RTO about the sale of your motorcycle or scooter. Missing any documents at the time of transfer may hinder the whole process. Following are the things to be done while transferring the ownership of your 2 wheeler.
Other than transferring the ownership of your two-wheeler, the insurance policy is also to be transferred to the new owner of your vehicle. The same can be done by following the steps mentioned below:
A lot of people assume end of responsibility once they sell their two-wheelers. However, there could be legal complications and ambiguities if the paperwork of the sale is not given the right attention. The process may seem like a lot of work but carries a lot of importance to prevent yourself from any liabilities that may result from the actions of the new owner of the vehicle. While it is important to handover all vehicle-related documents to the buyer, it is also important to transfer the insurance policy. The same may have the following benefits:
Making Use of the No Claim Bonus – If you have not made any claims on your two-wheeler insurance policy during the preceding year, you are eligible to get a No Claim Bonus (NCB) from your insurance provider. NCB is an incentive offered to you by your insurance provider for riding safe and making no claims. When you transfer the ownership of your vehicle, do inform your insurer about the same and collect a No Claim Bonus Certificate which will help you avail discounts on your premium the next time you buy a two-wheeler insurance policy.
While selling your old two-wheeler to any person, be sure that you complete all the paperwork, inform the RTO through the right process and transfer all the relevant documents including your insurance policy to the buyer of your motorcycle or scooter.
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Bajaj has discontinued the sale of the Non-ABS Bajaj Dominar 400 and the model has been taken off the official website of the company. The price of the new ABS-equipped Dominar starts at Rs.1.63 lakh (ex-showroom, Delhi). Even though the new ABS variant is coming with a costlier price tag than the non-ABS variant, the ABS-equipped version has received higher sales than the non-ABS version of the model. This is the major reason why the company has discontinued the non-ABS model much before the implementation of the ABS rule which will come into effect from 1 April 2019. As a matter of fact, after the recent hike in the price of the Bajaj Dominar 400 in the month of July 2018, this is the second time that the model has received another price hike of Rs.1,000.
15 January 2019