Read the Important Details Before You Sell Your Old Two-Wheeler
Two-wheelers have a special place in the heart of the owner and memories related to it are everlasting. Even though you may find it difficult to sell your two-wheeler after a couple of years but when the time comes the owner should think practically and should make sure that all the task of paperwork in a proper manner. Read on to find out the points that you need to keep in mind before selling favourite two-wheeler and get a good selling price.
The important point to be noted by the owner is that the two-wheeler should be sold to the person who is willing to pay the highest price for it. In the case of second-hand two-wheelers, the owners mostly sell it to friends, mutual friends, or to any organization which can deal with it. The price depends on the vehicle’s physical condition and the owner’s negotiation skills.
The owner of the two-wheeler vehicle should first conduct a basic background check regarding the buyer before selling the bike. The seller should verify that the new buyer has basic identification documents like Aadhaar Card. The seller should avoid selling the bike to someone who doesn’t have proper documentation or is avoiding any proper documentation.
It is a challenge to determine the exact value of a second-hand two-wheeler as there are various other factors that are noticed. The value of a vehicle decreases due to wear and tear that occurred over a period of time as the current condition of a vehicle also matters.
Several tools are present online that can provide the approximate market price of a two-wheeler. Many points are considered while valuing two-wheelers that are age, make and model, distance travelled, physical condition (aesthetics), driving condition (mechanics), service history insurance record, ownership (first-hand/second-hand), and necessary documentation.
Before selling your bike, make sure you have all the documents in place as even if you are dealing with an individual buyer or an agency, the Documents Transfer Process is conducted in a timely manner. Verification of the documents should be done as soon as the payment transfer is completed or is in the process of completion.
Two-wheeler’s Registration Certificate and Insurance Policy are necessary. The mentioned documents should be transferred in the name of the buyer. Other documents that are needed are Road Tax Certificate, Form 28 (Application and Grant of No Objection Certificate), Form 29 (Notice of Transfer of Ownership of a Motor Vehicle) and Form 30 (Application for intimation and transfer of ownership of a motor vehicle).
Form 28, 29, and 30 can be downloaded from Ministry of Road Transport and Highways’ website or these documents taken by from the nearest Regional Transport Office (RTO). By submitting these forms, the owner is intimating the RTO about the sale of the vehicle.