There may also be circumstances where you must sell your bike if someone else owns one. There are various reasons why someone might have to sell their motorcycle. They may want to avoid bringing their old bike when they move or get a new one. Finding the proper buyer for your used bike can be challenging. However, there are a few steps you can take to guarantee a seamless bike-selling process.
After reading this post, you might be eager to sell your bike right away, but be aware that the buyer of your used bike will require you to give them your two-wheeler insurance. In India, having two-wheeler insurance is both essential and required when riding a motorcycle. Since there are far too many people on the streets at any given moment and the roads are in poor condition, the Indian government has made insurance for two-wheelers essential. Therefore, having two-wheeler insurance guarantees everyone’s safety.
You will likely discover that your two-wheeler insurance has expired or is about to pass when you sell your old bike. You must purchase or renew your two-wheeler insurance in these situations. You only need to look at Tata AIG to buy or renew your insurance. We provide you with several cost-effective online two-wheeler insurance options to select from. We recommend using our bike insurance calculator to choose your best-suited plan. Let’s examine the bike-selling process with this in mind.
Required Documents When Selling Two-Wheelers
The buyer needs to possess these records:
- Form 28 [Three copies; not mandatory] A certificate of no objection.
- Form 29 [two copies] – Notice of Ownership Transfer.
- Form 30 – Report of Transfer of Ownership [1 copy].
These records need to be with the seller
1. The Transfer Deed Form
Take a printout of these forms, fill it out correctly, and have them signed. And turn it into the RTO to have the bike’s ownership changed. Forms 29 and 30 are required for sales and purchases, although Form 28 and the Transfer Deed are not.
2. Transfer Deed
The Transfer Deed is the document the seller needs to have to be free of future legal obligations regarding the bike. It is necessary to take two original copies of the transfer deed—not photocopies. It should have the engine, chassis, and registration numbers written in it. The buyer must sign and paste revenue stamps on them. Both the seller and the buyer must own the forms.
3. Additional Records
The buyer should obtain additional paperwork from the seller when buying a motorcycle, which is listed below.
4. The Registration Certificate Book, Or RC Book
Ensure that the engine and chassis numbers in the RC Book match those on the bike and that the book is in order. Additionally, the owner’s name must be accurate; the RTO office will alter the owner’s name to the successful buyer’s name.
5. Certificate Of Insurance
A current insurance certificate that covers the bike’s sale period should be present. Ensure that the owner’s name is updated on the insurance certificate when the bike’s ownership is transferred to the owner. You can accomplish this by submitting a written request to the insurance provider. Ensure the car is insured since if it lapses, the new owner will be responsible for paying the fee for the period the policy was in effect.
6. The Tax Receipt
A valid tax-paid receipt should be attached to the bike. Nowadays, most cars have lifetime taxes paid; these are typically valid for fifteen years. However, this varies by state.
7. Pollution Certificate [Certificate Of Pollution Under Control]
Unlike an insurance certificate, the buyer does not have to pay a fine for the time the bike was without a certificate, even if this certificate is required for vehicles older than six months. Therefore, after obtaining ownership of the motorcycle, the buyer may acquire a new one if the seller does not have one.
How Can I Online Sell My Bike?
The question “how to sell my bike” can cross your mind if you need to sell your bike quickly. Here’s what you have to do in this situation.
Preparing The Bike
There are a few things to consider when getting your bike ready. First, confirm that all of your documentation is in order. This includes the PUC, two-wheeler insurance, the registration certificate, etc. The next step would be to get your bike serviced. Using high pressure to wash your cycle won’t be enough. Finally, give your bike a thorough cleaning in every place. Your car will sell faster as a result of this.
Consider The Price You Would Like To Get For Your Bike
It would help to ascertain your bike’s market value before announcing to others that you plan to sell it. By entering your bike’s model, kind, and production year, you can utilize the internet to explore its cost. Alternatively, go to a dealer of used bikes and find out how much the bike costs. If not, you could visit any preferred service center or local mechanic to understand the overall cost.
Seek For A Potential Customer
Finding a buyer willing and able to pay the bike’s asking price is the first step in trying to sell your motorcycle. After that, you have two options: contact a buyer directly or enlist the aid of a broker, dealer, or other intermediary service to locate a potential buyer. If you have limited time and need to sell your bike immediately, the latter option is suitable.
The agency or company will handle the paperwork, verify the buyer’s identity, and take all other procedures to help you close the deal smoothly. If you have plenty of time, don’t mind the hassle, and aren’t in a rush to finish the transaction, it can be ideal for you to get in touch with a purchaser directly and close the deal at the best price without having to pay any finder’s fee or commission.
But bear in mind that a third party will deduct their charge from what you receive. If you have the time, you can sell your bike without an intermediary’s help by contacting a seller directly. If you can pull this off, you won’t have to split your earnings with any other individual or organization.
Make Sure You Have Everything In Order, Including The Bike-Selling Agreement
Once you find a trustworthy buyer for your bike, you must organize all the required paperwork. Among the crucial paperwork you must prepare before the sale are a driver’s license with all fees paid, a bike sale agreement that outlines all the terms of the deal and any critical factors that either party may have mentioned, and a test drive consent that allows for a test drive before the sale.
Another crucial document to have in place is the bike’s title, which certifies the bike’s ownership and is required for the authorized ownership transfer from the original owner to the bike’s buyer. You could protect the bike and yourself as its owner by doing this. This will bring your sales process to an end.
The advent of online tools has made the process of selling goods easier. If that’s what you’re wondering, there’s little work involved in selling your bike online; if you want to offer it and leave a positive impression, ensure it’s displayed nicely and has high-quality photos. Snapping pictures of the bike from different angles is essential so prospective buyers can assess it fairly from various viewpoints.
Provide the consumer with essential details, such as the bike’s age, brand, and model, to entice them to buy. It is helpful to explain why you are selling, the asking price, and whether the appraisal is negotiable. Give a rundown of your phone number. Accepting a trial run before the transaction will help to create transparency.
Naturally, the next step is to prepare the paperwork and bike sale agreement; this is the same procedure you would use to sell your bike offline.
Conclusion
You have two options for selling your used bike: online and offline. We have outlined the steps you must do, and everything will go more smoothly when you follow the above instructions for selling your bike. But, as we’ve already mentioned, proceed with caution when obtaining your two-wheeler insurance, as the deal cannot proceed without it.
