Buying a new car involves various steps and essential documentation, from loan approval to registration and insurance. Ensuring you have the required paperwork in place will make the process smoother and more efficient.
After a lot of research and deliberation, you finally decide on the car you want to buy. Once you seal the agreement with the car dealership, the next step would be the registration and car insurance procedures.
The paperwork involved in the process of registering the car can be intimidating. We have listed the processes and documents here for your reference and ease of understanding.
List of documents needed to buy a new car loan are given below:
You should remember to get all details in writing, including the delivery date of the vehicle, price, add-ons, accessories, and discounts availed. The down-payment made and the on-road price of the car should also be recorded in writing. Ensure that you are aware of the processes involved in situations like delay in car delivery or cancellation of booking. Also, make sure that you have all the relevant receipts, temporary Registration Certificate, PUC Certificate, owner's manual, warranty cards, and roadside assistance number.
List of documents while purchasing a new car are given below:
Post booking a car, list down the following details in writing from the dealer. They are:
Given below are the documents required to be submitted while getting your new car registered:
Given below are the documents required to be submitted while getting your car re-registered:
If the owner of the vehicle takes it to another state, the vehicle will have to be re-registered there. The NOC can be applied for through the completion of the following formalities:
Given below are the documents required to purchase a car insurance:
Before we get to the documentation required for registering the vehicle, let us take a look at the process for narrowing down on a suitable insurance policy for your car. You should ideally compare car insurance between providers before you actually buy the car.
Buying insurance from the dealership is not always the best solution as far as cost-effectiveness of the policy is concerned.
You should be aware of the fact that it takes only a few minutes to buy insurance online. Online policies are also cheaper and easy to maintain, and these offer greater security to the buyer. Additionally, it is possible to refer to these policies whenever required - all you need is an internet connection. The chances of misplacing the documents are minimised considerably as well.
The car insurance policy documentation is required for the registration of the vehicle. So, keep this ready in order to ensure a smooth registration process.
When you apply for car insurance coverage, the insurer will get in touch with you if any of the needed documents are missing and they need more information. The agent would contact you if you made an application via them to request extra paperwork. The policy wouldn't be issued until all the documents were received and confirmed.
Since 2021, the Central Government has made the Aadhaar card a requirement for all acts involving automobiles, including the registration of new vehicles.
Among the accepted documents for proving your identity are your PAN card, Aadhar card, voter ID, passport, and driver's licence. Aadhar cards, ration cards, voter identification cards, account statements from nationalised banks, registered rent agreements, utility bills, and other papers are on the list of acceptable proofs of domicile.
Motorcycle With Gear is referred to as MCWG and LMV as Light Motor Vehicle.
In India, a driving licence is not a requirement for buying a car. But regardless of whether you decide to buy the car or not, the dealer will let you test drive any vehicle of your choosing if you have a licence.
When choosing to finance or borrow money to buy an automobile, you must provide proof of your income. As evidence that you are employed and able to repay the loan, you must provide a year's worth of bank statements, three months' worth of pay stubs, and tax records.
Yes, installing a CNG kit after the fact on a vehicle calls for the RTO's formal approval in the form of a new Registration Certificate noting the bi-fuel status.
Two situations necessitate the submission of a NOC: 1) By the seller RTO if the ownership change is interstate 2) By the lender if the car was financed but paid off before being sold.
The vehicle RC must be carried when driving, whether it be a hard copy or a soft copy. If you don't, the traffic cop has the authority to take your car. According to the MV Act, the authorities may additionally impose fines of Rs.5,000 for the initial offence and Rs.10,000 for a second or subsequent offence.
No, a car cannot be insured in someone else's name while being registered in someone else's. Car insurance and registration in India must be in the same person's name. If you decide on a used automobile, transfer the insurance once the RC has been done. A claim is likely to be rejected if both the RC and the insurance are on separate names.
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