Get To Know The Used Bike Selling Formalities

 


Parting with property one has known well is hard. For example, having held on to the asset for a long time and decided to sell at its estimated cost. This is where you can find all the relevant information for the preparation of the sale of your used bike you came.

It is not longer a problem when people sell their second-hand bikes in India. The selling price can be conveniently verified on a number of dependable websites to check the current market price of bikes in real-time. Just like with this digital blog, learn how to sell your bike at the highest.

First of all, know the clear signs of selling your used motorcycle at an expected choice of price. Next to know the thing is paperwork formalities you must follow.

Signs to sell used bike

1. Costs of repairs are becoming higher and more frequent

However, as your bike ages and does a lot of mileage, it would obviously be expected to develop more mechanical problems at a higher cost of maintenance. Do breakdowns and warning lights occur more frequently nowadays? In this case, you may want to consider selling your bike. The regular visits to the mechanics are expensive and they take away the time that one could go for rides on a new bike.

2. Time to upgrade your riding experience

It could just be time to try something new. Indeed, there is no experience more exciting than starting out with a brand-new bike. There will certainly have been new models on the market since you bought this model bike, as such if you want to buy a new bike you should go for it.

Moreover, it is helpful to ponder if your present bike is adequate for you. Do you want speedy cruising or a touring model for long-distance travel? Are you considering buying an eco bike or moving from a conventional electric bike? In case you answer yes to any of these questions, then it can imply that it is high time to sell your motorcycle.

3. Need upgrade bike technology

The companies manufacturing motorbikes are always advancing new technologies to enable the motorbikes to become speedier, and superior in performance and make riding a pleasurable one. Today’s motorcycles have everything from navigation system integrated to smartphone connectivity, cruise control, heated seats, and the latest developments in engineering and security. Selling such an old bike for funds to procure a technologically updated ride.#

4. High mileage

The second issue relates to mileage which helps buyers tell about the wear and tear on the bike. As you realize that in the case of your bike starting into high mileage territory, it could be prudent to consider selling it as it may start encountering mechanical problems.

5. No longer using your motorcycle

As you well know, motorcycles are meant for riding. If yours has turned into an immovable object and gathering dust in your driveway, perhaps it’s time to part with your bike. Somebody might even have a lot of money for someone like you and another rider could also use your bike effectively. In addition, you will be able to reduce your expenses with respect to insurance and maintenance once you market and dispose of your bike. Farewell, and we hope to see you ride again someday although you should earn while you still can.

6. High in demand

You can sell your used motorcycle at top dollar when it is in high demand. Watch for patterns of what people are buying, and then sell when things are hot in the market. As many of the riders find their peak season for the year is the warmer months. It definitely makes sense to create your listings prior to the season beginning.

The Formalities to Note in Using Bikes

Transfer Deed Form

Have these forms printed out, then fill them up and sign. The owner should also fill in a form, attach the receipts, and then submit it to the RTO for a change of ownership of the bike. For sale/purchase form 28 and transfer deed is not compulsory whereas forms 29 and 30 are compulsory.

Transfer Deed

The seller must have a Transfer Deed since it is a document that will clear him or her from any legal obligations associated with the bike in the future. Two original Transfer Deed copies (and not photostats).ҽ The other should be written as Engine number, Chassis number, and registration number. The buyer should make Revenue stamps on his side as a copy and also sign it. The forms should be with both parties.

Other Documents

Other documents that the buyer needs to get from the seller while purchasing a bike are listed below.

RC Book [Registration Certificate Book]

Check the RC book, the engine and the chassis number in the book should correspond to the ones on the bike. After the sale has been processed at the RTO office the new buyer’s name shall replace that of the old owner.

Insurance Certificate

The bike ought to be issued a valid insurance certificate that covers the length of time specified in this process. After the title of the bike has been transferred into his/her name, ensure that you also note the new owner’s name on your insurance certificate. One way of doing this is by writing an application to the insurance firm. Do not forget that if the insurance is lapsed the new owner will have the liability of paying a penalty for the period when the vehicle was not insured and it’s better to provide the vehicle with insurance.

Tax Receipt

There should be an authentic and valid, tax-paid receipt on the bike. For many years such as 15 these vehicles have lifetime tax paid [states vary].

Pollution Under Control Certificate

This certificate is compulsory for motor vehicles that are over 6 months old but unlike in the case of an insurance certificate, one does not pay a fine for the period without the certificate for a bicycle. Therefore if a seller doesn’t have it, the buyer goes and buys a new one with his/her holding the bike.

Concluding Thoughts

It's no longer a tough decision to bid a final farewell to your long companion's old motorcycle with the help of the right platform to check the two-wheeler value. Simply drop at the Wheels of Trust (WOT) platform to check the value of your existing bike, make changes to increase the price, sell it off, and upgrade to a new vehicle with ease. Wheels of Trust is a reliable online bike valuation, selling, and exchange platform, powered by the Hero Motocorp brand to maintain the utmost trust factor.

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