Buying or selling a used car? Here's how to transfer registration certificate
- The used car market is witnessing a surge in demand and sales due to the rising focus on personal mobility.
The used car market in India is witnessing a surge in demand and sales, especially as the Covid-19 pandemic has refreshed the focus on personal mobility, while at the same time, people are refraining from spending a large sum of money on large ticket purchases like vehicles, buyers are opting for used or pre-owned vehicles.
While many buyers opt for purchasing second-hand vehicles, there are some concerns regarding transferring vehicle registration. Here is all you need to know - process, fees and required documents.
Buying or selling the car within home RTO
If the used car is bought or sold within the jurisdiction of the home RTO, then both the seller and the buyer have to sign Form 29 and Form 30 and submit these to the RTO. Form 35 also has to be submitted to the RTO, in case the vehicle is still under hypothecation, along with the NOC availed from the bank.
Buying or selling within a different RTO in the same state
If the used car is bought or sold within the ambit of a different RTO in the same state, then the seller and the buyer have to sign Form 28, Form 29 and Form 30 and submit these at the local RTO of the seller, in order to get the NOC. This NOC, along with Form 29 and Form 30 then have to be submitted at the buyer's RTO for transfer of vehicle registration.
To a different state
If the used car is sold in a different state than its original source of registration, then the buyer and seller have to sign Form 28, Form 29 and Form 30 and submit these at the RTO of the seller to secure the NOC. This NOC, along with Form 29 and Form 30 has to be submitted at the buyer's RTO for transfer of registration. Then the car has to be re-registered in the buyer's state, and this involves payment of Road Tax again.
What are the documents the seller need to submit
The seller of the used car will require to submit documents such as a PAN card copy while selling the car.
Documents the buyer needs to submit
The buyer of the used car requires to submit include a copy of his or her PAN card, address proof with the permanent address on it, proof of date of birth and passport-size photo.