The Indian used car market has gone through a major transformation in last half decade. The used car market has multiplied and the number of transactions in the used car market has folded by a huge margin.
Currently, many buyers feel satisfied after checking the vehicle physically but what they miss is the documents, the most important part of the whole buying process. Knowing what to check in documents and what all documents to check will make your buying experience a lot smoother and will make sure that the dealing is not fraud. We bring you a few important documents that you must check before buying a used car.
Registration Certificate (RC)
The RC is the most important document that comes with a car and you should tally every information written on it with the details of the vehicle. Make sure that the make, model and the variant is correctly listed on the RC. The engine capacity and the fuel type should also match the car’s specification. One important part that should be checked is the body colour. If the body colour of the car does not matches the colour mentioned in the RC, it means the car has been repainted and it is illegal to do so. RC will also tell you the year of registration.
Insurance
Check the validity of the insurance of the vehicle. It is illegal to not have any insurance on the car and someone sells you a car without insurance, you will have to pay a huge amount of sum to get it under insurance cover again. Also check if the insurance is comprehensive or basic third party. The type of insurance also affects the final value of the car.
Service history
Ask the owner for the service history detail. If the car has been serviced from any of the authorised service centres of the brand, it will be easy to get the details of the service after paying a nominal charge to the service station. Service history will also tell you if the car has gone through any major repair like accidental damages or if some particular part of the vehicle has been giving trouble. Service history will also tell you about the condition of the car and what parts were changed at what time.
Original Invoice and road tax receipt
Always insist of original invoice from the seller. The original invoice will give you exact date of buying the vehicle. It will also tell you the exact price and tax paid by the owner. Invoice will also show the VIN (Vehicle Identification Number) that can tell you about the age of the car and its manufacturing date.
No Objection Certificate
NOC is mandatory if the car is taken on a loan the seller is not handing out the original RC of the vehicle to you. Make sure that the seller gets a NOC from the bank from where the loan is taken. Always call the bank and cross check the details to make sure that the NOC is genuine and there is no outstanding loan against the vehicle.
