If you belong to a middle-class family, owning a car might be a dream for you. However, buying a new car may not be feasible in such circumstances, leading you to consider purchasing a second-hand car. While acquiring a second-hand car, there are several documents that need to be transferred to your name, apart from the registration certificate (RC). Let’s take a look at these essential documents:
- Registration Certificate (RC): This is the primary document that needs to be transferred to your name. It serves as proof of ownership and vehicle details.
- Insurance Certificate: It is crucial to transfer the car’s insurance policy to your name. Without it, you won’t be able to file an insurance claim in case of an accident.
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- Service Book: Check the service book of the car to understand its maintenance history and any potential problems that may arise.
- Form 35: This document is a No Objection Certificate (NOC) issued by the bank if the previous owner purchased the car through a loan. Ensure that the loan has been fully repaid.
- Road Tax Receipt: Verify if the previous owner has paid the road tax. If not, you will be responsible for paying it again.
Owning a second-hand car allows you to fulfill your dream of having a vehicle at a lower price. However, it is essential to complete the necessary paperwork and transfer the required documents to your name. By following these steps, you can ensure a smooth and legal ownership transfer process.
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InSummary:
- Buying a second-hand car can be a cost-effective option for middle-class families.
- Documents like the Registration Certificate (RC), Insurance Certificate, Service Book, Form 35, and Road Tax Receipt need to be transferred to the buyer’s name.
- Transferring the insurance certificate is crucial for making future insurance claims.
- Checking the service book helps identify any potential issues with the car.
- Verifying the repayment of any loans taken by the previous owner is necessary.
- Road tax payment should be checked to avoid any additional expenses.
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