If you were looking for help to buy a car in India today, more often than not, you will be advised to buy a used car rather than a new one. The advantages of buying a second-hand model outweigh those put forward by a brand new car. From the affordable prices to their constant availability, used cars have come a long way in the country and are continuing to grow at a rapid pace. But, before you can actually take one home, these are a number of documents you have to check to make sure you’re getting your money’s worth.
Here are the 5 documents you should check before moving forward with the purchase.
Possibly one of the most important documents you should ask for when buying a used car is the registration Certificate or RC. Not only will this document tell you in which year the car was registered, but it holds some very important information about the car as well. When looking at a used car, you can use the RC to validate whether the brand, model name, and variant are the same. You can also check what the engine capacity is and what type of fuel it runs on. But, one of the most important things to check on the RC is the original colour of the car. If the colours don’t match, you will immediately know that the car has been repainted or repaired in some way.
When you buy a second hand car, you have to make sure that it has valid insurance on it. If the car doesn’t come with insurance, it should be avoided at all costs as it could be an illegal transaction. If you eventually buy a car without insurance, you will be forced to pay a heavy fine to put the car under insurance once again. If the car does have insurance, you will have to transfer that name from the seller onto yours after the purchase is complete. You should even check the type of insurance it is as every insurance is different and can affect the price of the car significantly.
Service History Report
You need to know everything about the car that you are about to invest in and therefore you need to have a service history report for the car. A service history report records all the services that the car has been through from an authorized service center. This will also let you know whether the car has been repaired at any time due to some severe or minor accidents. You can also find out whether a certain part of the car has been replaced, repaired, or is faulty. Whether you’re buying used cars in Kochi or in Kolkata, asking for a service history report is a must.
Road Tax and Invoice
All cars have to come with an invoice because they were purchased from a dealer at some point and that is an important document that should be handed over when buying a used car. The original invoice provides some important information such as VIN or Vehicle Identification Number, the buying date, the exact price, and the tax paid on the car. All this information is important as it can tell you a lot about the car without even having to drive it. Always ask for an original invoice because it is essential at the time of selling the vehicle.
No Objection Certificate
A No Objection Certificate or NOC is mandatory when the seller has purchased the car on loan and he cannot hand the RC over to you. This is when the seller must get a NOC from the bank that the loan was taken. The NOC will show that the purchase is legitimate and that all the details of the car and the transaction are genuine. This also helps the buyer check that there are no other loans that are outstanding from the seller’s side in the car. A NOC is also needed when a buyer wishes to take the vehicle out of one state and into another state. In this case, the buyer must check the RTO form list to know the exact procedure and formalities required to take the car out of the original state.
Next time you want to buy a used car or if you know of anyone who is looking to buy a second hand car right now, check out this list and get all these documents checked thoroughly so that you do not get stuck with a lemon. These documents are required to make the transaction a legitimate one so that you don’t have to face any trouble in the future with regard to the purchase. Check and double-check all the above-mentioned documents before you can make that final offer or sign paperwork.