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Purchasing a used car can be less of a hassle if you keep all the paper work in order when making the payment. Whether you purchase the car from an individual or a dealership, there are certain documents that need to be transferred under your name. So when purchasing a used car, make sure you have the following papers in order.

1. Registration Certificate

The registration certificate (RC) provides you with all the important information related to the car including the VIN number, engine number and chassis number. The older cars will have the RC book, while the newer cars get a smart card. It also mentions the owner details, registration number, colour and so on. You need to check if all the details on the RC match with the car as well. Any changes like the engine or colour has to be updated on the RC as well. When getting the car transferred, you will have to make the ownership changes on the RC under your name. On the smart card, you will have to update the OSL (Owner Serial Number) to No. 02 as the second owner.

2. Insurance

The car needs to be insured when plying on the roads. You will have to get the insurance transferred under your name. If the car insurance is expired, you will have to get a new insurance for your car and that leaves you to getting a better deal for your car, while also reducing the purchase price of the car. When going for car insurance renewal, make sure you opt for a third party policy for your car. You can also have your own insurance transferred from your old car to the new car, if you have a no claim bonus resulting in lower premiums.

3. Road Tax Receipt

The road tax would be paid when the first owner registers the car when new. Make sure the road tax has been paid by the first owner to avoid any penalties, which could end costing more than the car itself. You need to get the original receipt of the road tax with other documents of the car.

4. Car Purchase Invoice

The original car purchase invoice will be issued by the dealer when the car was purchased new. If purchasing from a dealer, he will also provide you with a new car purchase invoice under his company brand. In case of purchasing from an individual, you need to ask for a sale receipt duly signed by the owner that conveys the sale is complete with full payment made.

5. Octroi Receipt

If you are living in Mumbai, this is an additional document that you will need to ask for. There will be a receipt along with other documents for the full payment of the octroi. Make sure you are given the same as well.

6. Service Book

The service book will have the whole history of the vehicle, right from the service schedule to the report of any accidents. It will also mention the next date of service and parts that were changed on the car. A car with complete service record is a more preferred buy.

7. Dual Fuel Certification

If you are purchasing car with an aftermarket LPG or CNG tank, make sure there is a corresponding dual fuel certification and the no-objection certificate from the RTO, which certifies that the car is safe and compliable to run on both fuels. You need to ask the seller for the sale receipt of the installed tank.

8. Form 32 & 35

Form 32 and 35 will be needed for cars that had a loan on the car. Ask the seller for a no-objection certificate from the bank or finance company, stating that the loan has been duly paid to the bank. If you are purchasing the car along with the loan, you will have to get the loan transferred under you name as well. You can also pay directly to the bank and settle the loan after purchasing or continue paying the EMI’s.

Apart from the necessary documents, make sure the owner’s manual is handed over to you and so are the other accessories related to the car that you mutually agreed upon.

Purchasing from an individual and a dealer has its own pros and cons. You will have to do the running around to get all the documents transferred in your name from the previous buyer when dealing with an individual, albeit the purchase price will be lower compared to the used car dealer. Whereas the dealer will take care of all the paperwork on your behalf and will do the necessary amendments before handing over the car to you. Certain used car dealerships also provide with financing schemes, free services and warranty for a year for the car. Although all of it does come at a premium, you will have peace of mind owning the car.

New Car Purchase