[xBhp Universal Thread]: Important documents to keep with you before selling your bike to dealers

[Shashidhar_K]

Hello xBhpian's,

I am planning to sell my bike to a dealer here in Bangalore. I am not sure what documents should I keep before handing over the bike to them. I have been informed by dealer that after money transfer, I need to hand over the keys and original documents to the him. But RC card and insurance transfer will happen only when he sells the bike to a prospective buyer. I am quite skeptical in handing over the keys and original RC card since there is no RC card or insurance transfer is happening.

Can you guys provide some insight on how to go about the deal and what documents should I get signed from dealer in order to safeguard myself from any mishap caused by someone else with the bike ?

[xBhp]

Re: Important documents to keep with you before selling your bike to dealers

Thread approved.

[rk1685]

Re: Important documents to keep with you before selling your bike to dealers

Keep photocopies / scanned copies of all the original documents (I mean everything)
Keep a copy of the Form you will sign and hand over to facilitate the transfer to new owner.
The sale deed.

The next bit, I don't think it is standard but I would insist on an indemnity bond on a stamp paper for any potential mishaps whilst awaiting transfer.

Disclaimer: I am no legal expert. This is only my personal opinion and I am not responsible for any consequence(s) due to following the same.

[Shashidhar_K]

Re: Important documents to keep with you before selling your bike to dealers

Keep photocopies / scanned copies of all the original documents (I mean everything)
Keep a copy of the Form you will sign and hand over to facilitate the transfer to new owner.
The sale deed.

The next bit, I don't think it is standard but I would insist on an indemnity bond on a stamp paper for any potential mishaps whilst awaiting transfer.

Disclaimer: I am no legal expert. This is only my personal opinion and I am not responsible for any consequence(s) due to following the same.

Thanks for the suggestions rk1685. Nice disclaimer note at the end by the way . I will be careful while dealing with them.

[kiran2508]

Re: Important documents to keep with you before selling your bike to dealers

Can you guys provide some insight on how to go about the deal

From my experience you'll need to keep following things,
1. Take copy of Aadhar card and PAN card (For IT verification purposes if money is transferred via Bank to Bank) of the dealership agent/owner. If you directly get in touch of the new owner that would be well and great, just ask your dealer(if he is friendly enough) if he can connect to new owner once he sells the bike.
2. All one set of vehicle documents, last service bill with KMS reading mentioned on it.
3. Delivery note(with date and time), sale receipt(with amount mentioned), copy of form 29 & 30, copy of form 35 if it was in loan, so that in case of somebody has an accident with your old bike and if the vehicle is till in your name so that you can present it to the court/police that you no longer had the ownership if the vehicle at the time of incident.
4. Finally it's good to take a 360 degree photo of your vehicle before handing over to the dealer for future references.

You can handover the both keys and original docs without much to worry if you have all of the said above, just make your to follow up with the dealer until it gets transferred to new owner and try if you can get a copy of new transferred RC card from new owner.
Once it's done get a copy of "B-extract" from RTO or Bangalore one office so that you have the record of transfer.