Buying a New Car Here's All You Need to Know about the Paperwork

It takes a lot of research as well decision-making to lock in the car you want to purchase. This includes registering the vehicle as well as the insurance procedures. Here is a complete list of all the processes involved and the documents required for your convenience.

Photo Credit: unsplash.com

CAR BOOKING

Photo Credit: unsplash.com

Ensure that at the time of booking, the vehicle is registered in the name of the same person who has applied for the loan. This is the list of documents required for booking:

• Citizenship/Nationality Proof – Voter's Identity Card, School's Certificate, Passport
• Proof of Identity – Driver's License, PAN, Aadhaar Card, Passport
• Proof of Address – Electric Bill, House Agreement, Rental Agreement, Ration Card

Remember to acquire all the necessary details on paper, especially the car's delivery date, final cost, car's accessories, the first payment, the on-road cost of the vehicle and the discounts available. Keep all the receipts, certificate of registration, pollution certificate, car's manual, warranty card, and lastly, road-side assistance number handy.

FORMALITIES OF INSURANCE

Photo Credit: unsplash.com

You should thoroughly compare the policies of all the insurance providers before zeroing in on the perfect one. Always remember – The dealership does not always provide the best insurance policy.

Look up policies online since they are easier to avail, cheaper as well as easily maintainable. Keep the policy documents handy, as they are required during registration.

DOCUMENTS NEEDED FOR REGISTRATION:

The owner gets 7 days from the date of purchase to get the new vehicle registered, as per section 39 of the Motor Vehicle Act, 1988. The documents include-

• Form No. 20 (Updated)
• Form No. 21
• Form No. 22
• Insurance Policy Document – Attested
• ID Proof of Owner
• Residential Proof of Owner
• PAN/Form No. 60/Form No. 61
• Customs Clearance Proof (In case of Imported Vehicle)
• Challan Receipt
• The affidavit stated on Non-judicial Paper (Stamp)
• Chassis Number (Pencil-Printed)
• Form No. 34 with a signature from the Bank and Vehicle Owner (In case of a loan)

REQUIRED DOCUMENTATION FOR RE-REGISTERING A VEHICLE (TRANSFER B/W STATES)

The documents include:

• Original Registration Certificate Issued by State
• Original No Objection Certificate/Form No. 28
• Form No. 27
• Form No. 20
• Address Proof of Owner (Attested)
• Valid Insurance Copy (Attested)
• PUC Certificate (Attested)
• Fitness Certificate (Applicable only for Commercial Vehicles)
• PAN, Form No. 60/61

Note – Road tax, as well as registration fee, must be paid. Some states also require clearance from NCRB for re-registration.

REQUIRED DOCUMENTATION FOR VEHICLE FINANCED BY LOAN

The documents needed are:

• Original Certificate of Registration
• Form No. 35 (2 copies)
• Certificate from the bank stating no debt is left.
• Insurance Policy (Attested)
• Address Proof (Attested)
• PUC Certificate (Attested)
• PAN, Form Np. 60/61 (Attested)
• No-Objection Certificate

PROCESS FOR ACQUIRING NO-OBJECTION CERTIFICATE IF CAR IS TO BE TRANSFERRED TO A DIFFERENT STATE

In case of the transfer of the vehicle, it will need to get re-registered in the new state. To apply for No-Objection Certificate, complete these formalities:

• Submission of Application (4 copies of Form No. 28)
• RC Duplicate (Attested)
• Proof of Road Tax Compensation
• Tax Clearance Certificate
• Pollution Certificate and insurance Policy