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With the online services available today, you can easily sell any product and find a buyer in just one day. If you want to sell your used car, a couple of pictures and a valid description are the only important things that you need. Also, there is a great demand for used vehicles, mostly because many people choose to replace their car only after a few years of driving. However, while the process of placing an ad for your vehicle, proper documentation is crucial for an official and legitimate selling process.
There are many cases where people fell into problems because they bought a car with some missing documentation, which could lead to additional expenses or legality issues. On the other side, when you are selling a car, transferring the ownership can prevent false claims, problems with the law, and more. Moreover, there are companies specialized for purchasing vehicles, like Carsome, where you can sell your vehicle in a much more convenient way.
Nevertheless, if you think that selling your car personally over online platforms and ads could bring you more money, you should know about all the important documents you have to prepare to finish the process in less time. Here are the documents you will need to sell your used car.
1. Required Documentation
Required documents are those papers that are necessary for the legal trade and a proper change of ownership. Those papers are RC, Insurance, PUC, which are mandatory, and optional documents such as Invoice, Ownership Manual, application of the insurance transfer, and duplicate keys.
The RC is a paper that proves that your car has a valid registration in the system. When it comes to insurance, you are not obligated to have one while you own a car, but it is necessary during the selling process. PUC document is related to the emission of toxic substances from the engine. The invoice of your vehicle is not necessary for the process, but you should have it as proof that you are the first owner of it. Also, the lack of a double pair of keys can slightly reduce the price you ask for.
2. Individual Documents
All of the individual documents that you need for selling your car are mandatory, and those papers are a copy of the address, copy of PAN card, and two photos in the same size as for a passport. These rules can change from state to state, but those where it is mandatory, you will need some document as proof of your address like an ID or Passport. We suggest you prepare all of these documents before heading into a process of trade because you will save a lot of time, especially if some of those documents are expired.
3. RTO Documentation
The main benefit is that you can find all of the forms online, and print them to save a lot of time. You will need 3 copies of the paper that proves how you don’t have any legal issues linked to the vehicle you are selling. Also, it serves as proof that you were paying taxes and that your car is not on some blacklist. Furthermore, you must have two copies of a document used for a transfer of insurance for the vehicle to a new owner. Besides these forms, you also have to sign an agreement to transfer to ownership to the buyer.
4. Additional Documents for Special Cases
There are some exceptions and special cases where you will need extra paper to sell your car. For example, if you own a financed vehicle, you will have to get a special form to become able to transfer the ownership to the buyer. Also, if you don’t have a residence in the country where you are selling the car, you will have to contact the embassy to get a valid form that must be included with other documents.
5. Service History
The service history is not mandatory for trade. However, many people would ask for it as proof that you maintained the vehicle properly. Also, you can get a bigger value when you have your car properly serviced, and you have a history along with receipts. Moreover, you can include receipts related to repairs and all parts that you changed on it. This book can also show the buyer that you have taken proper care of the maintenance, which can also affect the price in your favor.
The Bottom Line
It might seem like a simple process, but you should prepare yourself and get every important piece of documentation that is necessary for the trade. Each country has some differences in the law related to the drivers, registration, and vehicles. The process is much faster when you choose to sell your used car to some professionals like Carsoid, where you will meet experts who already know what exact documentation you need. On the other hand, selling it over some traditional methods could bring higher value, but there are risks in that type as well.
You should learn more about legal and safe methods for transferring money and the ownership of the car. There are cases where scammers managed to trick people who are taking their vehicles without any compensation, and you should be aware and know how to prevent that. The best way is to ask only for cash when selling a cat. On the other side, you can accept an escrow, but only on your terms and over official and well-known banking services. Our advice is to avoid personal checks because you might get a fake one.
Furthermore, you should be honest when placing an ad for your used car, and always mention any issues or potential issues that could happen to it. This way, you can avoid false claims and legal issues. When it comes to documentation, the main advantage of being familiar with all the necessary forms is that you can save a lot of time and finish the whole process in just one day.