Buying a used two-wheeler was not looked up back in the days. But now things are starting to change. These days used two-wheelers are equally demanded as the new ones.
Moreover, those who are tight on their budgets can fulfil their dreams of purchasing a bike at pocket-friendly prices. The cost is substantially lower when compared with a brand new model from the assembly line.
Bikes offer convenience in commuting, skipping the jam-packed traffic snarls by manoeuvring through it. So, when you buy a second-hand two-wheeler, here are a few things that you need to remember –
- Check the vehicle’s service history
- Check for scuffs, dents or repairs carried out throughout the body. It can help in negotiating the price of the bike
- Check for insurance claims made in the past
- Electrical and other accessories should also be looked at before making a deal
After checking for the above points, you can finalise your deal with the seller and initiate the process of transfer of ownership.
What is the Transfer of Ownership?
Ownership transfer is a legal procedure where all the legal rights of the seller on their bike are transferred to the buyer. Here, the seller transfers the necessary documents like registration certification, pollution certificate along with a no-objection letter.
These documents are required to be registered as a transfer for the regional transport authorities through transfer initiation. A Transfer Vehicle Registration Certificate (TVRC) is mandatory for the owners of second-hand vehicles.
The transfer of your two-wheeler can be either within the state or among different states. Let us look at the documents that are needed for bike ownership transfer.
Documents Required for Two-Wheeler Ownership Transfer
Registration Certificate (RC) is an essential proof of ownership of the bike. It is one of the prime documents that are required to be submitted to the regional transport office at the time of transfer of ownership.
One must carefully inspect all details mentioned on the registration certificate like the owner’s name, chassis number, engine type. You can also check for any hypothecation on the bike before executing the sale.
When buying a used motorcycle, it is essential to check for the validity of the pollution under control or PUC certificate. It will ensure that the vehicle has passed the required emission tests and will help in fixing an appropriate value.
You must carefully check the document for the vehicle’s registration number, readings of the test along with the expiry date. This will help in confirming the validity of the certificate. PUC certificate is one of the essential documents that are required to be produced during routine checks by traffic officials.
Another vital document required for the transfer of your vehicle is a copy of the bike insurance. A two wheeler insurance third party cover or comprehensive cover is a mandatory requirement for every motor vehicle.
The absence of an insurance copy can result in failure to transfer your vehicle. In case the policy is near its expiry date, you can renew two wheeler insurance online with just a few clicks.
When buying a used vehicle, make sure you also acquire the sales receipt. This document is proof of purchase of the vehicle. Signature of both the buyer and seller on such sales receipt confirms the mutual agreement of transfer.
It is a document which confirms the ownership, as well as the transfer of the vehicle from the seller to the buyer. It further ensures there are no legal liabilities by the previous on the vehicle at the time of transfer.
This transfer deed carries the name of both the buyer and the seller mentioning the details about the vehicle. It is duly affixed with a revenue stamp and signed by both parties to the transaction.
Road Tax Certificate
Along with the documents mentioned above, a road tax certificate is another document that needs to be obtained. This document contains the payment of road tax, which is either paid as a one time charge or annually.
Apart from the above, form 28, 29 and 30 are also required to be furnished to the RTO at the time of transfer. Also note, when purchasing an insurance cover for your vehicle, make use of a two wheeler insurance premium calculator to get the best comprehensive coverage for your bike at affordable premiums.