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Selling Old Car. Beware of Risks, Precaution before Sale of Car

Selling Old Car. Beware of Risks, Precaution before Sale of Car

Selling Old Car without Transfer may land you up in Legal Trouble with Police Complaints. Important Documents, Car Delivery Note, Tips at time of Sale

 

Selling Old Car - Customer Ordeal with Real Story wherein RC Transfer not happended

A Real Story Put up by a Person on Social Media after Selling His Old car. Its worth to read on same and understand the ground reality

"I Had sold my Volkswagen Polo In Feb this year, And had all the required paper works asap. Delivery Note and all the mandate RTO forms. The car was subsequently transferred to the buyer in March. The buyer of the car was from Karkala, Udupi and had purchased the car from Bangalore after seeing ad on online classified site.

To My Shock and Surprise I got a call from Karkala police station informing me about court summons in my Name. Later when I asked about the details, I was told The Volkswagen car was misused by the buyer (Buyer is related to a political party, and they beat up some other party guys).

But apparently the incident had occurred about 10 days after the delivery of the car. And the RTO ownership transfer was in progress. Since the car was in my name at the time of incident, and a false statement by the buyer Karakala Rural police have made me as an accused in case.

Car was Sold in Feb 2016, And in October I receive summons from the honorable court. For no real fault of mine, I have been implicated in a court case And have been going through a lot of trauma. Even with the paper works in place I have been facing the ordeal."

 

What Important Checks, Precautions Owner should do before Selling Old Car

» Collect Below Documents Before Handing Over Car: Ensure you check Original ID Proof, Address Proof and Signature Proof and take photocopies along with a Signed Undertaking Delivery Note on a Notarized Rs 100 Stamp Paper from Buyer that he has taken delivery of the car and all responsibilities, Offences, Accidents, Disputes from the date and time of delivery of car would be his responsibility

Download this Very Important Car Delivery Note : Car Delivery Note

Ensure that this Delivery Note is Signed on Rs 100 Notarized Paper as part of Agreement along with 2 Witness Sign.

» Keep Document Set: Avoid Cash Payment Transactions. Its best to get Demand Draft Payment from Buyer and keep a copy of Draft for records, before presenting it to Bank. You can make a Entry in Pass Book or Statement of Account that the given payment is received from the buyer against the car

» Document Submission in RTO for Transfer: Ensure that at time of car delivery, the very first Priority buyer should do is to submit Transfer Papers to RTO

If not possible at your end - Hire a RTO Agent (do not hire RTO agent of Buyer), so that he can mediate in - check on RTO Forms, Documents from Buyer and submit in Papers in RTO for Transfer. All should be done at the time of handing over keys. For RTO Agent Fees - its around rs 3000 in most of cities - so may agree for 50:50 sharing for same.

» Get in RTO Acknowledgement Receipt of Transfer Form Submission: Once the forms and documents are submitted in RTO - they issue a Transfer reciept mentioning in vehicle details and name of new owner in which vehicle to be transferred. This RTO Receipt is valid for 45 to 60 Days - post which new RC / Smart Card is issued in name of new buyer. Ensure - that you have this RTO receipt in maximum 7 days from the time of handing over car keys - which would be of utmost importance.

» In Inter State Transfer: Avoid in sale in Inter State Transfer cases, unless the buyer is known or came with a reference check. In case of unknown independent buyer - the risks are high of probability of MisUse of vehicle without Transfer, and you may end up with trouble of a car roaming in your name but driven by some one else.

As what happened in case of person who put in his ordeal of sale of car on Social Media - may end up with you - if due checks are not done !! Happy Selling !!

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Comments 1

Guest - Sunil Kumar on Saturday, 11 May 2019 13:05

if I made court selling agreement on 100 rs bond and buyer didn't transfer documents
should im responsible for any accident of buyer

if I made court selling agreement on 100 rs bond and buyer didn't transfer documents should im responsible for any accident of buyer
Guest
Wednesday, 18 September 2019

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